Botswana: The top management of the Kweneng District Council participated in an Enterprise Risk Management (ERM) workshop. The workshop was attended by many members of the district council.
During the workshop, they discussed strategies for identifying and avoiding risks in the business management. The officials have shared some glimpses from the workshop which was hosted on Wednesday.
James Kolagano from the Anti-Corruption and Risk Management department addressed the attendants of the event. Kolagano said that effective ERM frameworks help businesses in identifying, assessing, and manage risks.
He added that the aim of the frameworks is to make the overall resilience of the businesses better. The workshop wanted tomake the business owners capable of managing the risk of owning and operating a business.
Olebile Kgollo Mafala, Council Secretary of Kweneng District Council talked about the issue further during the workshop. He highlighted it was important to enhance risk identification and assessment capabilities of the businesses.
He stressed the importance of including risk management practices into decision-making processes. This will ensure that the business owners can manage their business more effectively
Furthermore, Mafala said that it is extremely important to maintain a culture of risk awareness in the businesses. The aim of the approach is to help stakeholders recognize potential risks and take preventive measures accordingly.
The workshop also addressed the issue of information privacy in risk management. Mafala discussed that there are significant repercussions mishandling information.
He stated that these actions can have a negative impact on the stability of the organization. He stated that they need strict protocols to safeguard sensitive data and maintain public trust.
At the end of the workshop, the attendants of the event agreed on the importance of Enterprise Risk Management. The practice is important for maintaining sustainable organizational practices.
At the same time, it also allows the businesses to build resilience against unforeseen challenges. The management of the district council intends to implement the insights that they have gained during the workshop.
The district council wants to work towards strengthening their risk management strategies and uphold operational excellence.
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