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 all the disruptions they face but focus on the ones that matter.
- They possess a strategic risk intelligence capability to support decision making.
- They incorporate a risk lens in their strategic planning processes and a strategic lens in their risk management processes.
Authors: Alan Iny, Elton Parker, Jeanne Kwong Bickford, Nick D'Intino
Source: “Boston Consulting Group (BCG)”
Subjects: Risk Management, Strategy
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