In attempting to identify all the risks a company confronts, supervisors can turn risk management into an overpowering paper-processing exercise that distracts them from spotlight on the threats that carry value - specifically, strategic ones that threaten the existence of the firm. By being unable to get the assumptions and restrictions of elaborate and expensive Enterprise Risk Management (ERM) tools and models, supervisors might be operating under a false awareness of protection.
Predicated on their analysis on firm risk-taking and risk management, the authors offer nine practical suggestions to assist supervisors to make the risk function more purposefully and in a relevant manner. A wholesome dose of prudence skepticism and resilience will go a long way towards helping your business see the forest instead of the trees.
PUBLICATION DATE: March 16, 2016 PRODUCT #: IIR154-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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