Holistic approach towards risk management
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This article emphasize need of risk management in any enterprise.Not knowing risk in any organization is quite dangerous and need carefull attention of the management.
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Enterprise risk management (ERM) takes a comprehensive, top-down approach to identifying and managing an organization's risks. It considers strategic, operational, pure and speculative risks across the entire organization rather than managing risks in silos. A typical ERM process involves identifying benefits, acquiring board support, developing risk procedures, determining risk appetite, and fostering a risk-aware culture. Barriers to effective ERM include difficulties defining risk appetite and a lack of requests to change risk management approaches. The 2012 Super Bowl in Indianapolis demonstrated how ERM can be applied to large-scale event planning and produce positive results. Future adoption of ERM may be slow as it is considered a "soft" aspect, but its principles are becoming
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Risk Management ERM Presentation
Enterprise risk management (ERM) takes a comprehensive, top-down approach to identifying and managing an organization's risks. It considers strategic, operational, pure and speculative risks across the entire organization rather than managing risks in silos. A typical ERM process involves identifying benefits, acquiring board support, developing risk procedures, determining risk appetite, and fostering a risk-aware culture. Barriers to effective ERM include difficulties defining risk appetite and a lack of requests to change risk management approaches. The 2012 Super Bowl in Indianapolis demonstrated how ERM can be applied to large-scale event planning and produce positive results. Future adoption of ERM may be slow as it is considered a "soft" aspect, but its principles are becoming
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1) Responsibility for risk management is increasingly concentrated at the top levels, with either the CRO, CEO/CFO, or board having direct responsibility at many companies.
2) Companies are emphasizing strong board engagement and regular communication with the C-suite on risk exposures. However, communication between the C-suite and CRO needs improvement at some companies.
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PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.
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This document provides summaries of key concepts in risk management and decision making.
It begins with definitions of situational awareness, mental simulation, and naturalistic decision making. These concepts emphasize gathering information, anticipating outcomes, and making decisions under uncertainty.
The document then discusses features of naturalistic decision making, including ill-defined goals, uncertainty, shifting priorities, and high stakes. It notes decision makers must react to changing conditions and work within dynamic organizations. Several models are highlighted, emphasizing recognition of patterns and situation assessment.
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This document outlines an enterprise risk management seminar hosted by Jabulani Mbengo. The objectives of the seminar are to understand enterprise risk management, appreciate the benefits of effective risk management, understand pressures to adopt effective risk management, identify an appropriate risk management structure, profile risks facing the company, understand current controls, and propose additional responses to mitigate risks. The seminar will define enterprise risk management, discuss benefits and pressures for adoption, explain risk assessment and profiling, and identify key risk focus areas for the company. Attendees will complete a total risk profiling table to identify vulnerabilities, triggers, consequences, severity, probability, and current controls for the organization's major risks.
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This document summarizes the key findings of a survey conducted by Harvard Business Review Analytic Services on leadership in risk management at European companies. The main points are:
1) Responsibility for risk management is increasingly concentrated at the top levels, with either the CRO, CEO/CFO, or board having direct responsibility at many companies.
2) Companies are emphasizing strong board engagement and regular communication with the C-suite on risk exposures. However, communication between the C-suite and CRO needs improvement at some companies.
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Presentation by: Bob Hirth, Global Chairman of COSO.
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PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.
PENGURUSAN IZIN DOKUMEN PERUSAHAAN PT. JEKLINDO CONSULTING - 085262245981 ( M...
PENGURUSAN IZIN DOKUMEN PERUSAHAAN PT. JEKLINDO CONSULTING - 085262245981 ( M...PT.Jeklindo Persada Consulting 085262245981
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.BIRO JASA PT. JEKLINDO CONSULTING
PT. Jeklindo Consulting memberikan jasa konsultan perijinan usaha dan dokumen perusahaan, termasuk pengurusan izin PMA, API, NIK, IT, dan sertifikasi tanah. Perusahaan ini memiliki pengalaman lebih dari 10 tahun dalam mengurus berbagai perijinan.
BIRO JASA CONSULTING PT.JEKLINDO PERSADA (CEPAT, MURAH DAN TERJAMIN) O8526224...
BIRO JASA CONSULTING PT.JEKLINDO PERSADA (CEPAT, MURAH DAN TERJAMIN) O8526224...PT.Jeklindo Persada Consulting 085262245981
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.
FME WT 2014: (NL) Data hermodellering in functie van INSPIRE en KLIP DF
Presentation on FME World Tour 2014 in Mechelen hosted by GIM.
Data remodelling. INSPIRE, KLIP Digitale fase.
(DUTCH)
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981PT.Jeklindo Persada Consulting 085262245981
PT. Jeklindo Consulting adalah perusahaan jasa konsultan perijinan yang mengurus berbagai izin usaha seperti API, NIK, PMA, dan lainnya. Mereka menawarkan layanan pengurusan dokumen, pembuatan izin PMA, API, NIK, dan izin impor untuk berbagai produk seperti elektronik dan pakaian.PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981PT.Jeklindo Persada Consulting 085262245981
A. PROFIL PT. JEKLINDO CONSUTING
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.20-year Sustainability Strategy Presentation
A presentation used during the consultation process for the University of British Columbia's 20-year Sustainability Strategy.
Accidente cerebro vascular isquémico
El documento describe el acv isquémico, la principal causa de muerte en Chile. Explica que un flujo sanguíneo cerebral reducido conduce a la muerte celular y que el cerebro depende de un suministro continuo de oxígeno. Detalla los factores de riesgo modificables e immodificables y las consideraciones para el diagnóstico con IRM o TC. Finalmente, cubre el manejo del paciente agudo y las posibles complicaciones neurológicas.
PT.JEKLINDO PERSADA JASA PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PT.JEKLINDO PERSADA JASA PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)PT.Jeklindo Persada Consulting 085262245981
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda .
Ijin Usaha ataupun Jasa-jasa Pengurusan yang dapat kami berikan antara lain :
1. URUS IZIN SURAT KETERANGAN PENCANTUMAN LABEL DALAM BAHASA INDONESIA ( SKPLBI) - (PERATURAN TERBARU DARI DIREKTORAT JENDERAL STANDARDISASI DAN PERLINDUNGAN KONSUMEN )
2. SKT MIGAS ( SURAT KETERANGAN TERDAFTAR MINYAK DAN GAS BUMI)
3. PENGURUSAN PMA ( PENANAMAN MODAL ASING )
4. PENDIRIAN PT ( PERSEROAN TERBATAS )
5. JUAL PT
6. API ( ANGKA PENGENAL IMPORTIR )
7. SURAT REGISTRASI PABEAN ( SRP ) / NOMER INDUK KEPABEANAN ( NIK )
8. IMPORTIR TERDAFTAR PRODUCT TERTENTU
9. SERTIFIKAT TANAH
10. SURAT IJIN USAHA PERDAGANGAN ( SIUP )
11. TANDA DAFTAR PERUSAHAAN ( TDP )
12. SERTIFIKASI BADAN USAHA ( SBU )
13. SERTIFIKASI
14. KEAGENAN
15. MEREK PATENT
16. NOMER PENGENAL IMPORTIR KHUSUS ( NPIK )
17. DAN PERIJINAN LAINNYA.
Dengan tenaga profesional yang berpengalaman menjadikan kami sebagai mitra bagi Pengusaha dan investor untuk berinvestasi di Indonesia.
Wetlands
Wetlands are home to many animals like ducks with webbed feet for swimming, alligators that can live up to 60 years and grow to 20 feet long eating almost anything, and wolves that howl at the moon to communicate with other wolves. The document provides facts about wetland inhabitants like ducks, alligators, and wolves as well as their adaptations for living in wetland environments like marshes and swamps.
Just for a while
This document appears to be a series of messages between two people discussing their on-again off-again romantic relationship. It describes how they reconnected after some time apart, bringing them joy, but then challenges emerged as the author felt unsupported at times, hurting their feelings. However, in the end the author expresses forgiveness for their partner with a kiss.
BIRO JASA PENGURUSAN DOKUMEN PERUSAHAAN CEPAT DAN AKURAT PT. JEKLINDO CONSULTING
BIRO JASA PENGURUSAN DOKUMEN PERUSAHAAN CEPAT DAN AKURAT PT. JEKLINDO CONSULTINGPT.Jeklindo Persada Consulting 085262245981
PT.Jeklindo Consulting adalah perusahaan yang bergerak di bidang jasa konsultan perijinan yang bergerak dibidang layanan pemberian jasa pengurusan perijinan usaha di Indonesia. Disini kami mengundang anda untuk mengetahui lebih banyak tentang kami serta jasa layanan kami. Dengan pengalaman kami dalam mengurus Perijinan usaha dan dokumen Perusahaan maupun Pribadi maka kami menjamin dapat mengurus perijinan dengan cepat dan harga yang terjangkau atas ijin usaha anda . Viewers also liked (20)
PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PENGURUSAN IZIN DOKUMEN PERUSAHAAN PT. JEKLINDO CONSULTING - 085262245981 ( M...
PENGURUSAN IZIN DOKUMEN PERUSAHAAN PT. JEKLINDO CONSULTING - 085262245981 ( M...
BIRO JASA CONSULTING PT.JEKLINDO PERSADA (CEPAT, MURAH DAN TERJAMIN) O8526224...
BIRO JASA CONSULTING PT.JEKLINDO PERSADA (CEPAT, MURAH DAN TERJAMIN) O8526224...
FME WT 2014: (NL) Data hermodellering in functie van INSPIRE en KLIP DF
FME WT 2014: (NL) Data hermodellering in functie van INSPIRE en KLIP DF
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PENGURUSAN IJIN PERUSAHAAN ( PT.JEKLINDO PERSADA ) HUB: 085262245981
PT.JEKLINDO PERSADA JASA PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
PT.JEKLINDO PERSADA JASA PENGURUSAN IZIN DOKUMEN PERUSAHAAN ( 085262245981)
BIRO JASA PENGURUSAN DOKUMEN PERUSAHAAN CEPAT DAN AKURAT PT. JEKLINDO CONSULTING
BIRO JASA PENGURUSAN DOKUMEN PERUSAHAAN CEPAT DAN AKURAT PT. JEKLINDO CONSULTING
Similar to Holistic approach towards risk management
Risk Management in Business
Abstract: Risk management is an activity which integrates recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources. Some traditional risk managements are focused on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, death). Financial risk management, on the other hand, focuses on risks that can be managed using traded financial instruments. Objective of risk management is to reduce different risks related to a pre-selected domain to an acceptable. It may refer to numerous types of threats caused by environment, technology, humans, organizations and politics. The paper describes the different steps in the risk management process which methods are used in the different steps, and provides some examples for risk and safety management.
CRO Insight
The Chief Risk Officer (CRO) role has evolved from initially focusing on risk control to taking a broader enterprise risk management approach. To be effective, the CRO must balance the roles of police officer, teacher, counselor, and business leader. There is no single model for how the CRO should be structured in an organization, but typically they report either to the CEO or CFO. Appointing an effective CRO is important for companies to make better risk and investment decisions.
An approach to erm in the insurance industry apria 2002 rama warrier&preeti
This document discusses implementing an Enterprise Risk Management (ERM) approach for an insurance company. It begins by defining ERM as a holistic approach to managing all risks across an organization, rather than managing risks individually. The document then outlines key risks for an insurance company, including marketplace risks, operational risks, international risks, mergers and acquisitions risks, and others. It proposes a four-phase ERM strategy for insurance companies: 1) Identifying risks, 2) Quantifying risks through modeling and analysis, 3) Measuring and evaluating risks, and 4) Managing and monitoring risks on an ongoing basis. The goal is to develop an integrated risk management process to help insurance companies optimize decision-making and meet business objectives
Strategically+Speaking+October+2015
This document discusses how organizations can better integrate strategy and risk management. It argues that while risk management has received increased focus due to regulation, strategic risk remains the primary cause of shareholder value destruction. Strategic risk is often not properly addressed because the risk agenda is driven by regulators rather than business needs. The document suggests that risk management should be integrated into all stages of strategic planning and management, and that separate risk and strategy functions are needed to balance risk mitigation with maximizing opportunity. Effective strategic risk management can help organizations anticipate threats to strategy implementation and turn some risks into strategic opportunities.
Introduction to Risk ManagementMana.6330Overview
The document provides an overview of risk management, including definitions of risk, types of risk (operational, reputational, business, cyber), categories of corporate risk, approaches to managing risk (avoidance, reduction, transfer, retention), sources of risk that can lead to crisis, and the stages of crisis management (pre-crisis, crisis response, post-crisis). It also discusses risk fundamentals such as perception of risk, risk approaches, cause and effect analysis, resilience, risk management processes, and factors to consider within an organization.
STRATEGIC PLANNINGManaging Risks A NewFrameworkby Rob.docx
STRATEGIC PLANNING
Managing Risks: A New
Framework
by Robert S. Kaplan and Anette Mikes
FROM THE JUNE 2012 ISSUE
W
Editors’ Note: Since this issue of HBR went to press, JP Morgan, whose risk management practices are
highlighted in this article, revealed significant trading losses at one of its units. The authors provide
their commentary on this turn of events in their contribution to HBR’s Insight Center on Managing
Risky Behavior.
hen Tony Hayward became CEO of BP, in 2007, he vowed to make safety his top
priority. Among the new rules he instituted were the requirements that all
employees use lids on coffee cups while walking and refrain from texting while
driving. Three years later, on Hayward’s watch, the Deepwater Horizon oil rig exploded in the Gulf
of Mexico, causing one of the worst man-made disasters in history. A U.S. investigation commission
attributed the disaster to management failures that crippled “the ability of individuals involved to
identify the risks they faced and to properly evaluate, communicate, and address them.” Hayward’s
story reflects a common problem. Despite all the rhetoric and money invested in it, risk
management is too often treated as a compliance issue that can be solved by drawing up lots of rules
and making sure that all employees follow them. Many such rules, of course, are sensible and do
reduce some risks that could severely damage a company. But rules-based risk management will not
diminish either the likelihood or the impact of a disaster such as Deepwater Horizon, just as it did
not prevent the failure of many financial institutions during the 2007–2008 credit crisis.
Identifying and Managing
Preventable Risks
In this article, we present a new categorization of risk that allows executives to tell which risks can
be managed through a rules-based model and which require alternative approaches. We examine
the individual and organizational challenges inherent in generating open, constructive discussions
about managing the risks related to strategic choices and argue that companies need to anchor these
discussions in their strategy formulation and implementation processes. We conclude by looking at
how organizations can identify and prepare for nonpreventable risks that arise externally to their
strategy and operations.
Managing Risk: Rules or Dialogue?
The first step in creating an effective risk-management system is to understand the qualitative
distinctions among the types of risks that organizations face. Our field research shows that risks fall
into one of three categories. Risk events from any category can be fatal to a company’s strategy and
even to its survival.
Category I: Preventable risks.
These are internal risks, arising from within the organization, that are controllable and ought to be
eliminated or avoided. Examples are the risks from employees’ and managers’ unauthorized, illegal,
unethical, incorrect, or inappropriate actions and the risks from br.
Risk Management Essay
This document discusses risk management strategies. It begins by defining risk and its importance in projects and organizations. It then discusses different risk management strategies used by healthcare companies to control costs and ensure sustainability. It also discusses using a risk matrix to help assess and estimate different risk levels and the appropriate handling strategies. Finally, it discusses identifying risks in the critical path of a project as the first step in the risk management process in order to determine what specific risks may affect the project and help mitigate delays.
Risk management
1) Risk management involves identifying, assessing, and prioritizing risks in order to minimize negative impacts and maximize opportunities. It also includes transferring, avoiding, reducing, or accepting risks.
2) While risk management standards aim to increase confidence, they are sometimes criticized for not measurably improving risk. Risk management must balance high-probability/low-impact risks with low-probability/high-impact risks.
3) Intangible risks like those from deficient knowledge, relationships, or processes directly reduce productivity and must be identified and reduced.
Keyword risk management
Risk management is the process of identifying risks, analyzing their potential impact, and devising strategies to address them. There are traditional and financial approaches to risk management. The traditional way focuses on risks from legal issues, accidents, and disasters, while financial risk management uses instruments to address risks. Most large organizations have dedicated risk management teams, while smaller businesses often task operational managers with risk oversight. The standard process involves five steps: identifying potential risks, evaluating their likelihood and impact, developing solutions, reviewing solutions, and implementing the chosen approach. While risk management requires resources, it is important for reducing negative outcomes and promoting organizational stability and growth.
Chartered Accountant’s Role in an Enterprise Risk Management
The document discusses the role of chartered accountants in enterprise risk management. It begins with defining risk and the types of risks faced by organizations. It then explains what enterprise risk management is, its importance and benefits. It outlines the statutory requirements for ERM in India per the Companies Act and SEBI regulations. Finally, it details the various ways chartered accountants can facilitate the ERM process, such as conducting process audits, developing ERM frameworks, and assisting with implementation.
Risk Appetite: new challenges to manage an insurance company
Based on a survey of European insurance companies, the results call into question some of the risk appetite indicators chosen by insurers. The study shows how risk appetite is applied to all decisions in a fully objective manner and it signals the need for a profound culture change with regard to risk-return analysis. It is on this point, which lies at the heart of the competition among players in the insurance sector – evaluating the performance of allocated capital by activity, measured against the risks incurred – that a number of structural shifts, innovations and changes will have to be made
Financial risk management
Financial risk management involves identifying risks, measuring them, and developing plans to address risks, particularly credit risk and market risk. It focuses on when and how to hedge risks using financial instruments. Common risk management techniques across financial firms include independent risk assessments, controls on risk taking, and hedging risks with derivatives or reinsurance. While techniques are similar, firms focus more on risks dominant in their primary business lines, with commercial banks most concerned with credit and funding risks, securities firms with market risk, and insurers with ensuring adequate technical provisions.
PECB Webinar: Aligning ISO 31000 and Management of Risk Methodology
The webinar covers:
• ISO 31000 as the adopted standard, for ISO standards that have risk components, such as ISO 27005 and OHSAS 18001
• Description of Management of Risk (MoR) – how organizations can benefit
• Complementary values that ISO 31000 and MoR bring to each other
• How Risk Managers can evolve a practical approach to carrying out Risk Processes
Presenter:
This webinar was presented by PECB Trainer Orlando Olumide Odejide, an experienced Enterprise Architect and Chief Trainer for Training Heights Limited.
Enterprise Risk Management
This document is a term paper submitted by Anu Damodaran to her faculty guide, Mr. C.T. Sunil, in partial completion of her MBA program at Amity University in Dubai. The paper is titled "To study ERM - A competitive edge for the company and how it adds value to its shareholders". The introduction provides background on enterprise risk management (ERM) and its importance for businesses facing various strategic, market, operational and financial risks. The paper will review literature on ERM and explore how companies can implement ERM through risk mapping and maturity models. It will also discuss the advantages, suitability and limitations of ERM for businesses.
New Risk Management Paradigm for Not-For-Profits
The document discusses the new risk paradigm for not-for-profit organizations. It explains that not-for-profits now face greater risks due to increased competition, demands from consumers and funders, and contracts that pay based on outcomes rather than services provided. This requires not-for-profits to take a more strategic, integrated approach to risk management. Senior management must ensure risks are identified and measured, risk exposures are appropriate and aligned with objectives, and the organization is dynamic and can respond to changes. An effective risk culture must also be established where risk management is embedded in decision-making and oversight at all levels.
40 whats different in the corporate world
This document discusses differences between risk management in corporations versus financial institutions. While financial institutions led the development of modern risk management practices, their risks focus on financial and market risks and are not directly transferable to corporations. Corporations face a wider variety of risks related to their operations. The nature of risks in corporations requires customized risk management practices rather than directly applying financial institution frameworks. Overall, corporations can benefit from certain financial institution practices but need to adapt them to their own business contexts and risk environments.
Managing Risk in Perilous Times- Practical Steps to Accelerate Recovery
The document discusses lessons that can be learned from the financial crisis regarding effective risk management. It argues that risk management needs greater authority, senior executive leadership, and sufficient risk expertise at high levels. It also stresses the importance of combining quantitative risk model outputs with human judgment, paying attention to the quality of data used in models, and using stress testing and scenario planning to prepare for potential risks and events.
Risk management in finance
Risk management is the process of identifying, quantifying, and managing risks that an organization faces. These risks include strategic failures, operational failures, financial failures, market disruptions, environmental disasters, and regulatory violations. Risk management involves identifying risk exposures, measuring potential risks, proposing means to mitigate risks, and estimating risks' impact on future earnings. While removing all risk is impossible, companies must properly understand and manage risks they are willing to accept in line with their strategy.
A Board Perspective on Enterprise Risk Management
This document discusses best practices for enterprise risk management (ERM) from the perspective of a board of directors. It addresses five key dimensions of ERM: risk transparency and insight, risk appetite and strategy, risk-related processes and decisions, risk organization and governance, and risk culture. The document provides recommendations for boards to strengthen their company's risk management, including developing a prioritized risk heat map, understanding the company's "big bets," ensuring risk reports deliver clear and insightful information, defining the company's risk appetite, integrating risk insights into strategy, and focusing on building a strong risk culture. The document concludes by outlining 12 specific actions boards should take to lift their company to the highest standards of risk management.
Thoughts on Direction of Ops Risk Management -V4 0
The document discusses risk management and operational risk. It provides context on the tumultuous global economic environment of the last decade which brought focus to risk management. However, some question if current risk management practices are adequate given failures still occurred. The document then discusses various studies on risk management and findings that risks are about human decisions. Therefore, influencing business decisions is important to manage risks and avoid failures. It introduces the concept of "behavioural risk management" and capturing the experience of being embedded within business to influence decisions from the first line of defence.
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An approach to erm in the insurance industry apria 2002 rama warrier&preeti
An approach to erm in the insurance industry apria 2002 rama warrier&preeti
STRATEGIC PLANNINGManaging Risks A NewFrameworkby Rob.docx
STRATEGIC PLANNINGManaging Risks A NewFrameworkby Rob.docx
Chartered Accountant’s Role in an Enterprise Risk Management
Chartered Accountant’s Role in an Enterprise Risk Management
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Risk Appetite: new challenges to manage an insurance company
PECB Webinar: Aligning ISO 31000 and Management of Risk Methodology
PECB Webinar: Aligning ISO 31000 and Management of Risk Methodology
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Holistic approach towards risk management
- 1. PUREVALUE FINANCIAL & RESEARCH SOLUTIONS PVT. LTD. 2014 Risk Management New vision, innovative research PureValue Research Team W W W . P V A L U E R E S E A R C H . C O M
- 2. Risk Management Focus: Are we waiting for a new disaster to swallow all of our generated wealth or we are not sufficiently informed about all the facets of the risk management. As Peter Drucker says: “A business has to try to minimize risks. But if its behavior is governed by the attempt to escape risk, it will end up by taking the greatest and least rational risk of all: the risk of doing nothing”. From last several decades corporate trend is to focus on corporate governance whereas, risk governance is perceived and inclined towards the financial risk management of the organizations. Events in the recent past in case of LTCM, Barings, Metallgeselschaft, Satyam, P&G etc. taught us strict lessons of improper risk management practices. Companies have now started realizing that it is only partial and biased view towards the risk management. There are two angles to look at risk management. First, risk management has other unexplored dimensions like operational, strategic and hazard risks. Second angle points out that, risk is not only a negative outcome of an unwanted or unexpected event, but also, an indication of potential benefit at the cost of risk. How much proportion anyone wants to distribute between risk and opportunity is the need and taste of decision makers and art of the risk manager. Earlier, much of the focus of risk management has been on financial risk management only by managing fluctuations in financial parameters like interest rates, exchange rates, inflation etc. Risk managers worldwide are now shifting gears to practice risk management in synchronized and holistic way which is termed as Enterprise Risk Management. In many organizations the purchase, treasury, HR, legal and finance departments handles risks independently at the department level, which is not an appropriate way. An organization-wide view of risk management may tremendously raise the efficiency to peak level and generate synergies among the departments.
- 3. Risk Management Task of the risk manager is to classify and interpret relevant risk measures as per the need of the organization since it is not possible to list the full gamut of potential risks. Moreover, one template of risk classification cannot generalize risk management for all organizations. If we consider BASEL II framework for non-financial firms, it distributes risk into three categories: a. Operational risk (business risks, IT, business operations) b. Financial risk ( Interest rate, exchange rate, inflation, counterparty, insolvency) c. Market based risk. Other risks which may be considered but not specified in BASEL II are Strategic risks (reputational, political, demographic) and Hazard risks (diseases, fire, theft, crime). So we can say that there is no exhaustive list of all the potential risks for organizations and it is only tailor made structure which is efficient. Conclusion: Organizations sitting on the assumptions of risk management to be of only financial nature and treating them in piecemeal fashion are prone to risks of crisis in the long run. Holistic approach of risk is the need of latest and future generation of firms. Sooner or later they would be embracing firm-wide perspective of the risk management. Risk management will take new leaps and bounds in the coming future by treating risk management as one of the essential arm of any successful organization. Thanks & Regards PureValue Research Team www.pvalueresearch.com