Key takeaway: To be prepared for cloud disruption risks, CEOs and corporate directors have critical roles to play. Practice them. Continue reading
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3 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