This section contains FAQ's relating to risk and risk management.

What does risk appetite mean?

The level of risk an organisation is prepared to accept in order to take advantage of an opportunity or continue to operate in a specific manner.

What does risk treatment mean?

A method to control, mitigate or avoid a particular risk that is measurable and is aligned to Organisational resources.

What is ISO 31000:2009?

The ISO standard is a method and process to develop an effective risk management program recognised internationally.

Can I get accredited or certified to the standard?

No, there is currently no accreditation for this standard.

What areas of my business does the standard and FOCIS Planning program cover?

The program covers all areas of the business that are important to the owners. By assessing the risks faced by the organisation before the program is commenced allows it to be customised to the needs of each individual business.

This section contains FAQ's relating to governance.

What does a governance program do?

A governance program is essentially an organisational road map that defines the roles and responsibilities of the Board and specifies what management is responsible for.

When do we need to consider a governance program?

A governance program is suited to most situations but is especially important when a company hires a CEO or appoints non executive directors for the first time.

Is the governance program back by standards?

Yes, a governance program can be developed according to Australian standard AS 8000:2003 or the ASX Good Corporate Governance Principles and the OECD Principles of Good Governance

What is the structure a governance program?

Our Program content can be found by following this link, it will give you a good idea of the organisational elements that are developed or refined.

This section include frequently asked question about strategic planning.

What is strategic capability?

The terms strategic capability refers to an organisation's ability to operate in a way that is superior to their competitors and that capability is rare, valuable and difficult to imitate. For example, you may be more efficient at manufacturing and delivery your products than your competition, whilst maintaining a quality standard, this is a strategic capability. A good example of this type of strategic capability is Dell computers. They can make and deliver your new customised computer to you in a reasonable amount of time. They carry little inventory, have no shop fronts are have very good relationships with suppliers, very efficient.

What is the difference between a strategic plan and a business plan?

In some cases these two documents are one and the same, but the key difference is this. A strategic plan will usually cover three or more years, where as a business plan is generally tied to a budget and spans only one financial year. Given the different time span, a strategic plan will link major initiatives to current capabilities and describe the long-term view of the company.

What is a parenting advantage in strategic thinking?

A parenting advantage is when an organisation is able to apply its core or unique capability to generate additional gains in another business that is a subsidiary or a take-over target. The results of leveraging parenting advantage is an increase in shareholder value beyond the current financial performance of the company it is applied to.

How do you measure strategic performance as opposed to financial performance?

An effective strategic plan will measure performance using more than financial information and a good framework for this type of performance setting is the balanced scorecard, which assesses amongst other thing customer behaviour and satisfaction and operational performance. These indicators are directly linked to functional activities can be used to guide future activities.