Transparency In Operations
Risk Knowledge Network, Inc. believes that transparency in operations is
a responsibility of all organisations, particularly ones which deal with risk
professionals and are membership based. Accordingly, our transparency
statement is given below:
Incorporation
1. We are incorporated as a profit-making company and are not a non-
profit enterprise by deliberate choice in order to avoid the associated
administrative hassles. This is also in line with market practice.
Free for Members
2. Unlike other Who’s Who services, our approach is not one of
unbridled commercial interests and membership to our Network is
currently free for members accepted.
We hope to be able to keep it this way provided that our operating costs
can be recovered through other means. If at all an annual membership
fee is introduced (unlikely), this would be for new members only.
Value Creation & Privacy
3. Our focus and mission is to provide recognition and build a high-
profile quality Network of senior risk management professionals who
benefit both directly and indirectly from the connections they establish by
being part of this Network.
For example, an updated softcopy of our member’s directory is provided
to all our members after each intake so that they have new connections
through the year. We also have member-organised Informal Professional
Networking Meetings for close-door networking with no media presence.
Chapter members (currently New York and London) can also organise
social events (e.g., dinners) on a member shared-cost basis.
We provide genuine value to our members.
4. Who’s Who services typically do not have this focus on networking
and those that do, use it as a means of sending emails promoting
members products to other members. We do not do this and our Privacy
guidelines also strictly prohibit our members from doing so.
Revenue Model
5. Our revenue model is principally based on conferences/ seminars
where the Risk Who’s Who members would speak and we would charge
commercial rates from the general public with a significantly discounted
rate for our members (plus for one guest each) who attend as delegates.
Plus there would be commercial sponsors.
Given this revenue model, the brand image of Risk Who’s Who is the
most critical aspect of our product to manage. Hence, we will not
compromise on the quality of our new member acceptances. This is
ensured through an objective and qualitative review process which
includes a peer review process of comparison with existing members.
It's not a numbers game for us.
6. Other revenue lines include non-event sponsorship which covers
the website and advertising in the international members directory.
7. Other than the main revenue line of conferences/ seminars and
non-event sponsorship, our other products (international members
directory, recognition plaques) would all be priced with a reasonable
recovery on our administrative costs without resorting to brand pricing.
8. In due course, we hope to get our international members directory
sponsored so that the hard copy version is free for all members annually.
Similarly, we hope to get our recognition plaques sponsored in order to
make them free for new members accepted in that year.
Marketing Style
9. We are aggressive in enrolling our new members and can be
persistent in order to get the right people to join our network. However, we
do not market our membership directory or plaques to our members on
an aggressive basis, in line with our non-commercial approach to these
products.
In summary, we are unique in our approach.
Risk Knowledge Network, Inc. believes that transparency in operations is
a responsibility of all organisations, particularly ones which deal with risk
professionals and are membership based. Accordingly, our transparency
statement is given below:
Incorporation
1. We are incorporated as a profit-making company and are not a non-
profit enterprise by deliberate choice in order to avoid the associated
administrative hassles. This is also in line with market practice.
Free for Members
2. Unlike other Who’s Who services, our approach is not one of
unbridled commercial interests and membership to our Network is
currently free for members accepted.
We hope to be able to keep it this way provided that our operating costs
can be recovered through other means. If at all an annual membership
fee is introduced (unlikely), this would be for new members only.
Value Creation & Privacy
3. Our focus and mission is to provide recognition and build a high-
profile quality Network of senior risk management professionals who
benefit both directly and indirectly from the connections they establish by
being part of this Network.
For example, an updated softcopy of our member’s directory is provided
to all our members after each intake so that they have new connections
through the year. We also have member-organised Informal Professional
Networking Meetings for close-door networking with no media presence.
Chapter members (currently New York and London) can also organise
social events (e.g., dinners) on a member shared-cost basis.
We provide genuine value to our members.
4. Who’s Who services typically do not have this focus on networking
and those that do, use it as a means of sending emails promoting
members products to other members. We do not do this and our Privacy
guidelines also strictly prohibit our members from doing so.
Revenue Model
5. Our revenue model is principally based on conferences/ seminars
where the Risk Who’s Who members would speak and we would charge
commercial rates from the general public with a significantly discounted
rate for our members (plus for one guest each) who attend as delegates.
Plus there would be commercial sponsors.
Given this revenue model, the brand image of Risk Who’s Who is the
most critical aspect of our product to manage. Hence, we will not
compromise on the quality of our new member acceptances. This is
ensured through an objective and qualitative review process which
includes a peer review process of comparison with existing members.
It's not a numbers game for us.
6. Other revenue lines include non-event sponsorship which covers
the website and advertising in the international members directory.
7. Other than the main revenue line of conferences/ seminars and
non-event sponsorship, our other products (international members
directory, recognition plaques) would all be priced with a reasonable
recovery on our administrative costs without resorting to brand pricing.
8. In due course, we hope to get our international members directory
sponsored so that the hard copy version is free for all members annually.
Similarly, we hope to get our recognition plaques sponsored in order to
make them free for new members accepted in that year.
Marketing Style
9. We are aggressive in enrolling our new members and can be
persistent in order to get the right people to join our network. However, we
do not market our membership directory or plaques to our members on
an aggressive basis, in line with our non-commercial approach to these
products.
In summary, we are unique in our approach.
| Risk Knowledge Network, Inc. |
Risk Who's Who™
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