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Poole College of Management
Enterprise Risk Management Initiative

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Apr 29, 2022

Elevating Value of Leading-Edge ERM: Highlights from the April 22, 2022 ERM Roundtable Summit

The sharing of insights and experiences among ERM leaders continues to help advance the strategic value of ERM programs among organizations. Fostering thought leadership on strategically focused risk management is a core mission of the ERM Initiative at NC State University. The “golden nuggets” shared by speakers at the April 22, 2022 ERM Roundtable Summit covered a variety of topics related to advancing best practices in enterprise risk management (ERM). We are providing this high-level summary so others can benefit by what was shared in each of the six sessions. 

Feb 8, 2022

Imagining Unimaginable Risks

Risks take a variety of forms, many of which companies can proactively manage. But novel risks are much more difficult to predict and plan for and they may seem improbable, emerge from a perfect storm of events, or are unprecedentedly massive. In their 2020 Harvard Business Review article, "The Risks You Can't Foresee," authors Robert S. Kaplan, Herman B. "Dutch" Leonard and Annette Mikes define novel risks and then describe how to detect and respond to them to mitigate the risk impact on the business.

Feb 8, 2022

Six Practices to Future-Proof Your Company

As companies rebuild their workforces in the aftermath of Covid-19, they must move into the digital age to future-proof their operations and give them a competitive advantage. A recent Harvard Business Review article, "Future-Proofing Your Organization," draws on research by Bain & Company involving more than 300 large firms in every sector of the global economy. The authors identify six recommended practices for companies to follow as they recover from the pandemic to create technology-enabled workforces for future success.

Feb 8, 2022

Board Oversight of ESG and Diversity Risks

PwC's 2021 Annual Corporate Directors Survey gauges the views of public company directors across the United States. The survey results reveal the significant impact of the social, environmental and economic pressures companies have faced in recent years, including new risks for boards to address. The PwC report also sheds light on the changes boards are making in response to the dynamic environment.

Sep 21, 2021

Is Your Company’s Knowledge Walking Out the Door with Your Retirees?

A conversation about the risk of knowledge loss often is centered around a technology concern evoking thoughts of cyber breaches that release proprietary information, an operational matter considering outsourcing or the one that I will discuss, a people or talent discussion. This article discusses how knowledge loss from employee attrition can be reduced through effective knowledge management and knowledge transfer practices.

Aug 31, 2021

Mitigating Supply Chain Disruptions and Building Resilience

Global supply chains are larger and more complex than ever. At the same time disruptions that affect supply chains have grown more frequent and severe, exposing vulnerabilities. Companies and policy makers are reconsidering how to assess, analyze and mitigate risk exposure to bolster supply chain resiliency to shocks like financial crises, terrorism, extreme weather and pandemics. McKinsey Global Institute's (MGI's) report, Risk, Resiliency, and Rebalancing in Global Value Chains, explores factors leading to global supply chain risk, financial implications of shocks and guidance for building supply chain resiliency. Check out this summary of the key findings.

Jul 30, 2019

CEO and Board Risk Management

Senior leaders often view threats in a vacuum, acknowledging their existence but missing the mark on how best to solve them. These leaders tend to know that threats are on the horizon but, in many cases, are not managing them in a strategic way. They are not seeing these critical threats as interconnected, complex risks that, when managed correctly, could create opportunities for accelerating growth. Managing risk is a critical facet of the roles of CEOs and board members. This is particularly true in today's environment of ongoing disruption, innovation, and technological change.

Jul 25, 2017

Today’s Risk Management Challenges: It’s a Small World After All

   In late June, I spoke at a conference in Italy focused on risk management and organizational change.  Those in attendance included both business professionals and academics interested in understanding…

Nov 29, 2016

Five Recurring Themes for Enhancing Risk Oversight

Article by Mark S. Beasley: Over the past month I have had the opportunity to meet and talk with a number of risk management executives who have engaged with us at our ERM Initiative Advisory Board meeting, our ERM Roundtable Summit, and our inaugural ERM in Higher Education workshop, and I have traveled to Europe to participate in ERM conferences there. In all these experiences I have observed a number of common themes related to opportunities to strengthen ERM processes. These opportunities seem to transcend organizational size, industry, and geographic location. Let me highlight five challenges that ERM leaders view as opportunities to strengthen the value of their organization's ERM efforts.

Jan 20, 2016

A Risk Manager’s Role in Strategic Leadership

A misalignment of risk priorities often exists between the risk manager and the executive decision makers. What can risk managers do to help them establish their significance and contribution to the organization? As in almost any emerging field, risk management requires effective communication and robust contribution from all parties in order to extract the most value for the organization.