Strategic risk management is a growing concern on both sides and top managers. Many recent business failures due to underestimation of the level of the older and poor risk management, the effects of which can range from embarrassment to serious blow to the bankruptcy. Ineffective risk management puts otherwise strong business model at risk. Gifts CLASS (culture, leadership, alignment, systems and structures), an integrated, five-element model of corporate governance. Determines how attention to the elements in that framework supports the development of comprehensive and reliable approach to corporate risk and helps executives predict and manage the complexity of the risks inherent in achieving strategic goals. "Hide
by Stephen A. Drew, Patricia C. Kelly, Terry Kendrick Source: Business Horizons 12 pages. Publication Date: March 15, 2006. Prod. #: BH189-PDF-ENG
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