ERM Tool: Assessing How Organizational Culture Impacts Risk Management

Each organization has its own unique culture, and there is no one-sized “right culture.” From a risk management lens, it is important for business leaders to consider how their organization’s culture (and potentially different sub-cultures across the enterprise) impact the organization’s risk management efforts. An organization’s culture might influence the amount of risk taking that is occurring across the organization, the willingness for management to engage in risk thinking, and how the entity manages and responds to those risks. Culture can support an effective enterprise-wide approach to risk management (ERM) — or it can be one of ERM’s biggest detractors.

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