88 Articles found for subject: Risk Management

Companies unprepared for disasters put not only their competitive advantage but their very existence at risk. Hise Gibson and Anita Lynch break down what a company needs to build its operational resilience, starting with its people, processes, and technology.

Content: Article | Authors: Anita Lynch, Hise Gibson | Source: Harvard Business School (HBS) Working Knowledge | Subjects: IT / Technology / E-Business, Risk Management

When risks combine, the cumulative impact can have existential consequences. But leaders can prevent compounding risks from sneaking up on them by adapting risk processes to manage multiple threats.

Content: Article | Authors: Celia Huber, Ophelia Usher, Ram Charan | Source: McKinsey Quarterly | Subject: Risk Management

Today’s more uncertain environment calls for newer, more dynamic approaches to risk management and strategic planning. Successful companies foster a culture of strategic humility, anticipatory preparedness, and a willingness to act to own the future as it unfolds. And they have four critical characteristics:

• They see risk as a two-sided coin with challenge on one side and opportunity on the other.
• They explore the strategic implications of

… [ Read more ]

Content: Article | Authors: Alan Iny, Elton Parker, Jeanne Kwong Bickford, Nick D’Intino | Source: Boston Consulting Group (BCG) | Subjects: Risk Management, Strategy

To stay operational, even in the worst of times, focus on what matters most. It will change your risk culture.

Content: Article | Authors: Bobbie Ramsden-Knowles, David Stainback, James Houston, Paul Williams | Source: strategy+business | Subject: Risk Management

We worry that in their headlong embrace of formal systems of risk management, many companies are pursuing a highly technical approach to risk management—characterized by complex financial models and elaborate, formal risk-management systems—in isolation from the day-to-day activities of the broader organization. The result is that risk management may exist as a formal function, but it is not really embedded in the “mindset” of the … [ Read more ]

Content: Article | Authors: Alexander Roos, James Tucker, Marc Rodt, Sebastian Stange, Ulrich Pidun | Source: Boston Consulting Group (BCG) | Subject: Risk Management

When major threats are looming, but their timing is uncertain, it’s hard for business leaders to make an action plan for dealing with them. Wharton marketing professor emeritus George Day and global management consultant Roger Dennis call it “the paradox of preparedness.” In this essay, they offer four steps to help leaders heed the warning signs of disaster before it’s too late.

Content: Article | Authors: George Day, Roger Dennis | Source: Knowledge@Wharton | Subject: Risk Management

Most people view luck as the opposite of determinism, control, or strategic intent. But because we can often influence situations in which chance plays a role, these forces are actually linked. The first challenge is to reframe your views about luck and realize that it usually entails much more than random chance. Yes, the primary force behind luck is the way that probabilities play out, … [ Read more ]

Content: Article | Author: Paul J.H. Schoemaker | Source: Management and Business Review (MBR) | Subjects: Management, Risk Management

Enhanced perception and thinking about risk in new ways can help leaders navigate tumultuous times.

Content: Article | Author: Eric McNulty | Source: strategy+business | Subject: Risk Management

Have our institutions become too complex to secure?

Content: Article | Authors: Richard Horne, Sean Joyce | Source: PwC | Subjects: Corporate Governance, IT / Technology / E-Business, Risk Management

Ignoring high-consequence, low-likelihood risks can be damaging to an organization, but preparing for everything is impossibly costly. Here is how leaders can make the right investments.

Content: Article | Authors: Fritz Nauck, Leigh Weiss, Ophelia Usher | Source: McKinsey Quarterly | Subject: Risk Management

CARVER is a system for assessing and ranking threats and opportunities. Developed during World War II, CARVER (then one letter shorter and known as CARVE) can be both offensive and defensive, meaning it can be used for identifying your competitors’ weaknesses and for internal auditing. In addition, many security experts consider it the definitive assessment tool for protecting critical assets.

Since it draws on both qualitative … [ Read more ]

Content: Article | Author: Luke Bencie | Source: Harvard Business Review | Subject: Risk Management

In the early days of building a company, it’s hard to step back and think about the bigger picture when there are always so many fires to fight or opportunities to chase down. That’s a shame, because looking at your business from a 50,000-foot view often reveals areas of misplaced focus or resource misallocation.
 
One technique that can break through the bubble of always being in … [ Read more ]

Content: Article | Author: Leo Polovets | Subjects: Entrepreneurship, Risk Management

After watching other founders – including myself – flail about, pivoting their way through the darkness, I’ve become obsessed with being more systematic and disciplined about entrepreneurship. So I decided to take Leo Polovets’ lead and standardize risk management into a single spreadsheet, which you can copy, download, or remix.

Content: Article | Author: Josh Smith | Subjects: Entrepreneurship, Risk Management

Traditional risk management policies and procedures were not designed for, quite literally, minute-by-minute monitoring of social media chatter to identify brand, strategy, compliance, legal and market risks.

Those risks are considerable. Financial institutions have had to shut down social media forums due to unanticipated negative feedback; the stock markets have been buffeted by fraudulent social network postings; businesses have had to change or rescind strategies … [ Read more ]

Content: Article | Authors: Jonathan Narveson, Rafael Gomes, Steve Culp | Source: Outlook Journal (Accenture) | Subject: Risk Management

No one can predict when disaster will strike—but knowing what to expect if it does will buy precious time.

Content: Article | Authors: Mihir Mysore, Sanjay Kalavar | Source: McKinsey Quarterly | Subject: Risk Management

Risk managers may argue that the basic principles of Risk and Control Management (R&CM) are well established, and indeed enshrined, in industry standards. The concepts may indeed be broadly known, but they are applied in such a scattered fashion that they are not fit for purpose.

The resourcing and costs of the R&CM approach should be aligned with the company’s structure, business model, and risk profile. … [ Read more ]

Content: Article | Authors: Joseba Eceiza, Piotr Kaminski, Thomas Poppensieker | Source: McKinsey Quarterly | Subject: Risk Management

The accessibility and fluidity of social media leaves organisations open to significant risks. But there are countermeasures organisations can take to prevent reputation disaster.

Content: Article | Author: Gilles Hilary | Source: INSEAD Knowledge | Subject: Risk Management

Globalization has created new opportunities and new threats. As sourcing from around the world made supply chains longer and more complex, the volatility inherent in production significantly increased. The number of supply chain members and the interactions among them has grown, exacerbating the lack of transparency in the operating environment. Company executives have increased profitability through ever-shorter times-to-market and product life-cycles, business processes improvement, just-in-sequence … [ Read more ]

Content: Article | Authors: Bublu Thakur-Weigold, Kamil J. Mizgier, Stephan M. Wagner | Source: Ivey Business Journal | Subject: Risk Management

Risk management isn’t just a matter of complex financial models and formal risk-management systems. It is an essential value-creating activity that should inform the strategic debate at every level of the organization. Here are ten basic principles that should govern “the art of risk management.”

Content: Article | Authors: Fabian Günther, Frank Plaschke, Marc Rodt, Ulrich Pidun | Source: Boston Consulting Group (BCG) | Subject: Risk Management

Complex supply chains require sophisticated, connected tools to monitor risks, predict disruptions, and support rapid recovery as part of an overall resilience strategy. For leading companies, this line of thinking has led to an increase in adoption of advanced tools grounded in analytics and visualization.

Content: Article | Authors: Jerry O’Dwyer, Kelly Marchese | Source: Deloitte Review | Subjects: Operations, Risk Management