Risk identification and management is important, but how do you promote a culture of active risk mitigation? A culture where employees not only know the risks and precautions, but have risk management as an active part of their everyday work mindset? Being aware of the importance of risk identification and management is the beginning –taking action is what really matters.
Risk Challenge – Novo Nordisk
With the Risk Challenge Novo Nordisk expanded its business risk management seminars from ‘telling about’ to ‘engaging in’ through a game-based approach.
The Risk Challenge case was tailored for Novo Nordisk to feature a Novo Nordisk branch in the fictional country of Paloma. Local politics, laws and market conditions need to be considered, in addition to the practices and risks internally in the Novo Nordisk Paloma branch, when surveying the local risk landscape.
The case challenge wraps actual and apparent risks in a rich setting, challenging the participants to identify risks by analysing the current state of the Paloma branch and the information the case story gives them. In addition to analysing and interpreting clues, the Risk Challenge also tasks the participants with mapping out essential processes, using Workz’ Storyline™ tool.
The solution was rated 5 out of 5 by one of the financial groups.
"It is a very realistic and sensible case; I am confident that it can help increase the awareness of risks and internal financial controls in many areas of our organisation."
– Morten Engelund, BANE Finance Director
Developing a Risk Challenge
The Risk Challenge was developed in close cooperation with Novo Nordisk’s Department of Sarbox Consulting, which is responsible for ensuring that robust financial processes and controls to mitigate risks are in place.
During development it was pinpointed how knowledge of tools and processes was not what was lacking – it was the risk management culture that needed a boost. Workz and Novo Nordisk created the Risk Challenge to promote a culture where risk awareness is a positive part of the daily work and where experiences and thoughts are naturally shared.
”This case challenge addresses important business risk issues for us, in a way that enforces the risk management culture we strive to build."
"Cooperating with Workz was a positive and smooth experience, where our needs and purpose were clearly understood and transformed into an engaging challenge that the participants will remember.”
– Danny Kring Krabbe, Department Manager, Sarbox Consulting
How it works
The Risk Challenge can be adapted to specific needs with a duration from 2-4 hours. The participants compete in groups of 2-4 to identify risks, solve tasks, share solutions and receive points for both identifying risks and for sharing important insights that help connect the learnings from the challenge with the reality of their home organisation.