Many companies have adopted a risk language to facilitate dialogue within the organization regarding their risks. While we are not aware of an authoritative risk language or model, there are a number of risk models in the public domain that can be useful to ensure the completeness of the event categorization and risk assessment processes.
Risk levels and uncertainty change significantly over time. Competitors make new and sometimes unexpected moves on the board, new regulatory mandates complicate the picture ...
Risk oversight is a top-of-mind issue for boards because of the expectations spawned by the financial crisis and the unanswered questions around what directors might have, or should have, done to thwart that crisis.
A lesson we keep learning time and again is the need for more disciplined risk management during periods of rapid growth and favorable markets. Every MBA program features case studies of companies relearning the time-honored lesson that, while competent people are an important aspect to ...
There are limitations to traditional risk maps, heat maps and risk rankings based on subjective assessments of the severity of the impact of potential future events and their likelihood of occurrence. These limitations include the influence of individual biases and “group think” ...
Developing risk maps, heat maps and risk rankings based on subjective assessments of the severity of impact of potential future events and their likelihood of occurrence is common practice.
If the financial crisis and events like the Japanese tsunami had but a single lesson, it is this: What we don’t know can be more important that what we do know.
Competitive intelligence in its truest form is an ethical and essential function that involves collecting and analyzing often public but little-noticed information...
Without effective management of the compliance risks that really matter, the organization is reactive, at best, and noncompliant, at worst...
If the behavior of middle managers contradicts the messaging and values conveyed from the top, it won’t take long for lower-level employees to notice.
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