April 1, 2013 Crowdsourcing, A Tool to Tackle Emerging Strategic Risks Organizations are turning to “crowdsourcing” as part of their innovation strategy where they leverage the knowledge of “the crowd” to identify emerging trends and opportunities. A recent article in _Harvard...
March 1, 2013 Using Collaboration Risk Management to Recognize Emerging Risks PricewaterhouseCooper recently published a research paper on systemic risk trends. The authors of the paper shed light on the many issues related to the risk mitigation capabilities of businesses for...
January 10, 2013 Q & A: Controlling Spreadsheet Risk Spreadsheets are widely used in today’s business environment, and rightly so – they provide users with a powerful, flexible solution for getting things done. However, there is a difficult truth...
December 1, 2012 SunGard Survey: How Are Companies Managing Financial Risk? This white paper presents the results of a recent study conducted by SunGard, a global provider of technology-related services and solutions. The purpose of the study was to gain an...
December 1, 2012 Managing the Risk of Disruptive Innovation Organizations often find themselves surprised by a competitor’s announcement of a new innovation. Such announcements can be hugely disruptive, and they hit the competitive environment in many forms, such...
October 2, 2012 Internal Audit’s Role in Risk Management Michael Somich, Executive Director of Internal Audit at Duke University, discusses with Dr. Mark Beasley his views about the role internal audit should play within an organization’s ERM process. ...
October 2, 2012 Chief Risk Officer vs. Risk Committees A major stumbling block companies run into when beginning their ERM journey is whether to have one risk champion (CRO) or have a committee that handles risk oversight. Paul Zavolta,...
October 1, 2012 Applying “Big Data” to Risk Management “Big data” is quickly building a following as a useful tool for helping managers make decisions. But what exactly is big data, and is its use actually beneficial to a...
October 1, 2012 Managing Risks of Innovation Managers attempting to streamline a global innovation project generally do so while haphazardly managing risk. The reason for rushing projects is either lack of available employees, desires for a faster...
October 1, 2012 Four Steps to Better Statistical Performance Measures Managers hinder their performance insight by focusing on sexy performance metrics that may be persistent but not predictive, and vice versa. These popular key performance indicators (e.g., EPS growth)...
October 1, 2012 Managing Risks of the Mobile Enterprise Mobile devices are becoming more and more integral in the workplace today, as they are used for field work, file-sharing, and business processes. With the widespread use of mobiles, and...
September 15, 2012 Managing Supply Chain Risks for Conflict Minerals The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 places new regulations on companies reporting to the SEC. In particular, Section 1502 of the Dodd-Frank Act concerns the use of...
September 1, 2012 Minimizing Risks through Creative Strategy Setting Strategic planners often go through a rigorous process of extensive analysis of past performance and forecasts to come up with a robust strategic plan. They attempt to check their biases,...
July 27, 2012 Mature Risk Management Drives Financial Performance In a recent survey, Ernst & Young assessed the maturity level of risk management practices and found a positive relationship between risk management maturity and financial performance. It was revealed that...
June 1, 2012 Super Bowl Embraced ERM Imagine being responsible for managing risks related to the NFL Super Bowl. With the millions of viewers drawn to this event each year, one shudders to think about an event...
June 1, 2012 Preparing for a Corporate Crisis Before Significant Risks Materialize A recent article from Practical Law The Journal offers boards guidance on preparing and responding to a corporate crisis. A lack of proper planning can make both managing crisis situations...
May 1, 2012 Lack of Senior Manager Support Impairs Risk Management Here’s a new twist to “risk management”: one of the most damaging risks an organization may face is “management” itself. A recent article in Disaster Recovery Journal highlights the...
May 1, 2012 How to Manage Risks Associated with Organic Growth Strategies A sound approach to organic growth enables an organization to sustain itself through the toughest circumstances in the business environment. The authors of this Harvard Business Review article believe that...
February 1, 2012 Understanding and Communicating Risk Appetite Risk appetite, as defined by COSO, is the “amount of risk, on a broad level, an organization is willing to accept in pursuit of value.” While the overall concept of...
February 1, 2012 Twelve Areas of Risk a Board Should Consider In today’s dynamic business environment, the only constant for an organization is that it will be forced to change on a regular basis. A recent thought paper by Deloitte...