Key takeaway — for each risk plan, risk managers should also have a crisis plan.
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Category Archives: Strategy
Are you the expert?
Are you really an expert in something — truly an expert? If so, maybe you’d be happier in business for yourself.
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Trip report: Risk Summit highlights digital transformation and a tech start-up called PwC
On 27 and 28 March 2019, at PwC’s Risk Summit in Boston, PwC senior leaders and consultants in the risk assurance and consulting practices shared with their clients and over three dozen industry analysts their vision of how digital technologies are transforming both risk management and business performance.
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Time to put technology at the forefront of your GRC strategy
Having just finished analyzing the data and writing the report on the triennial OCEG GRC technology strategy survey, I stepped into the family room to see that my wife was watching a recent episode of Amazon’s Grand Tour — the season 3 Mo’town Funk episode. Jeremy Clarkson was test driving this fantastic new McLaren Senna.
Continue reading3 critical success factors for strategic risk management and 5 questions corporate directors should ask
The announcement from PG&E that the California utility will file for bankruptcy reminded me of a question posed a few years ago by the head of GM’s risk committee: “How do we manage strategic risks?”
Key takeaways —
- People can and do die from poor strategic risk management
- Due to blind spots in the risk vision of executives and directors, risks can emerge that unbalance corporate strategies and create existential events
- The critical success factors for strategic risk management include encouraging and rewarding risk awareness, creating goodwill with stakeholders, and building a strategic risk response plan
NASA’s ARIA team produced this map of damage to Paradise, California, from the Camp Fire, the deadliest wildfire in the state’s history. Image credit: NASA/JPL-Caltech