In the fourth of a series of reports, commissioned by HSBC, we look at the challenge of harnessing risk management in the service of innovation. Good risk management can identify new business opportunities and be a powerful aid to innovation. However, when the risk function is reduced to a compliance-only role, its strategic benefits are lost.
This document discusses principles and concepts of project risk management. It defines different types of risks that organizations face, including market risk, credit risk, operational risk, and business risk. It provides examples of how companies like Ericsson and Nokia responded differently to a supply chain disruption, with Nokia handling it effectively and gaining market share while Ericsson was unprepared and lost revenue. The document emphasizes the importance of enterprise risk management in improving financial and operational performance for companies.
Listening and learning: Stephen Sidebottom, IRM’s first independent non executive chair, on opportunities and threats created by the pandemic.
We have been working behind the scenes for the last few months to refresh the look and feel of Enterprise risk. You have the results in your hand now – either online, mobile or in print. And we hope you like the results. Publishing, like all industries today, is beset with rapid change. As risk managers, you know better than most what such change brings – risk and opportunity. Even in the four years since I have been editing this publication, digital innovations have greatly altered the way we all consume media. The challenge is to take advantage of that diversity while maintaining a core, quality product – the magazine.
Learn more about Risk Management and the essentials with IRM’s level 1 certification.
https://www.theirmindia.org/level1
Level 1 qualified or risk management professionals with 2-3 years of experience can also enroll for level 2 certification.
https://www.theirmindia.org/level2
Visit: https://www.theirmindia.org/
Address: IRM India Affiliate, 907,908,909, Corporate Park II, 9th Floor, VN Puran Marg, Near Swastik Chambers, Chembur Mumbai 400071
2014 Tech M&A Monthly - Deals Closing GloballyCorum Group
Bolstered by strong public markets, record cash and continuing disruptive technological change, the high volume of Tech M&A deals has carried over into the first quarter of 2014, making for a record spring. Tune in to our Quarterly Report April 10 for field reports from the dealmakers in the M&A trenches on deals closing globally.
Plus, details on the key deals, trends and valuations in the Horizontal, Vertical, Consumer, Internet, Infrastructure and IT Services markets for Q1:2014.
The document outlines principles for designing resilient experiences in a world changed by COVID-19. It discusses how COVID-19 has disrupted social and cultural norms, presenting an opportunity to rethink work, commerce, and society. The document proposes 14 experience principles organized under four categories: designing for uncertain futures, organizational symbiosis, new rituals, and progressive performance. The principles are meant to help organizations foster community resilience and adapt employee and customer experiences. Examples of early industry adaptations are also provided.
Tech M&A Monthly: Private Equity Panel - Feb. 2013Corum Group
Private Equity now accounts for 40% of the largest deals, often outbidding the strategic buyers. And with a staggering $1 tillion in uncommitted funds, this trend will continue driving up valuations and impacting the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What about from a portfolio company? Find out from our live panel of leading global PE firms, including Accel-KKR, Riverside and Carlyle.
Aiming for the top: A guide for aspiring COOs and their organisationsEY
Our latest report on COO's titled 'Aiming for the top: A guide for aspiring COOs and their organisations'. The report provides insight on the skills and experiences needed to become a COO, it explains how companies can develop a robust pipeline of well-rounded talent for the succession to an existing COO position, or how to find a strong candidate for a new COO role. Read it to know how companies, and especially COOs currently in the role, can support the operations talent within their teams with the aim of eventually developing a strong successor.
This document provides an overview of a discussion on whether risk management and innovation in the healthcare industry are compatible. It includes introductions of several speakers who will provide different perspectives on this topic, including from "Big Pharma", regulators, economists, and end-users. The document also previews some of the key points that will be addressed such as defining risk, the types of risks faced by the industry, approaches to risk management and communication, and strategies to balance risk management with innovation.
SUMMARY PART 2: MANAGING AND EVALUATING INDIVIDUAL INNOVATION IDEAS THROUGH THE PIPELINE
Part 2 discusses best practices for taking innovation initiatives from ideation to commercialization. It recommends using a project management approach involving defining the project, dividing it into tasks, sequencing tasks, and creating a budget. It also outlines 8 tests to evaluate the potential of ideas, including whether they offer valuable benefits, have marketing and scaling potential, a qualified leadership team, intellectual property control, financial return on investment, social responsibility, and fit with organizational strategy.
This document discusses principles and concepts of project risk management. It defines different types of risks that organizations face, including market risk, credit risk, operational risk, and business risk. It provides examples of how companies like Ericsson and Nokia responded differently to a supply chain disruption, with Nokia handling it effectively and gaining market share while Ericsson was unprepared and lost revenue. The document emphasizes the importance of enterprise risk management in improving financial and operational performance for companies.
Listening and learning: Stephen Sidebottom, IRM’s first independent non executive chair, on opportunities and threats created by the pandemic.
We have been working behind the scenes for the last few months to refresh the look and feel of Enterprise risk. You have the results in your hand now – either online, mobile or in print. And we hope you like the results. Publishing, like all industries today, is beset with rapid change. As risk managers, you know better than most what such change brings – risk and opportunity. Even in the four years since I have been editing this publication, digital innovations have greatly altered the way we all consume media. The challenge is to take advantage of that diversity while maintaining a core, quality product – the magazine.
Learn more about Risk Management and the essentials with IRM’s level 1 certification.
https://www.theirmindia.org/level1
Level 1 qualified or risk management professionals with 2-3 years of experience can also enroll for level 2 certification.
https://www.theirmindia.org/level2
Visit: https://www.theirmindia.org/
Address: IRM India Affiliate, 907,908,909, Corporate Park II, 9th Floor, VN Puran Marg, Near Swastik Chambers, Chembur Mumbai 400071
2014 Tech M&A Monthly - Deals Closing GloballyCorum Group
Bolstered by strong public markets, record cash and continuing disruptive technological change, the high volume of Tech M&A deals has carried over into the first quarter of 2014, making for a record spring. Tune in to our Quarterly Report April 10 for field reports from the dealmakers in the M&A trenches on deals closing globally.
Plus, details on the key deals, trends and valuations in the Horizontal, Vertical, Consumer, Internet, Infrastructure and IT Services markets for Q1:2014.
The document outlines principles for designing resilient experiences in a world changed by COVID-19. It discusses how COVID-19 has disrupted social and cultural norms, presenting an opportunity to rethink work, commerce, and society. The document proposes 14 experience principles organized under four categories: designing for uncertain futures, organizational symbiosis, new rituals, and progressive performance. The principles are meant to help organizations foster community resilience and adapt employee and customer experiences. Examples of early industry adaptations are also provided.
Tech M&A Monthly: Private Equity Panel - Feb. 2013Corum Group
Private Equity now accounts for 40% of the largest deals, often outbidding the strategic buyers. And with a staggering $1 tillion in uncommitted funds, this trend will continue driving up valuations and impacting the competitive landscape. Is your market on their radar? How can you get direct interest from Private Equity? What about from a portfolio company? Find out from our live panel of leading global PE firms, including Accel-KKR, Riverside and Carlyle.
Aiming for the top: A guide for aspiring COOs and their organisationsEY
Our latest report on COO's titled 'Aiming for the top: A guide for aspiring COOs and their organisations'. The report provides insight on the skills and experiences needed to become a COO, it explains how companies can develop a robust pipeline of well-rounded talent for the succession to an existing COO position, or how to find a strong candidate for a new COO role. Read it to know how companies, and especially COOs currently in the role, can support the operations talent within their teams with the aim of eventually developing a strong successor.
This document provides an overview of a discussion on whether risk management and innovation in the healthcare industry are compatible. It includes introductions of several speakers who will provide different perspectives on this topic, including from "Big Pharma", regulators, economists, and end-users. The document also previews some of the key points that will be addressed such as defining risk, the types of risks faced by the industry, approaches to risk management and communication, and strategies to balance risk management with innovation.
SUMMARY PART 2: MANAGING AND EVALUATING INDIVIDUAL INNOVATION IDEAS THROUGH THE PIPELINE
Part 2 discusses best practices for taking innovation initiatives from ideation to commercialization. It recommends using a project management approach involving defining the project, dividing it into tasks, sequencing tasks, and creating a budget. It also outlines 8 tests to evaluate the potential of ideas, including whether they offer valuable benefits, have marketing and scaling potential, a qualified leadership team, intellectual property control, financial return on investment, social responsibility, and fit with organizational strategy.
This newsletter provides updates on performance, governance, risk and compliance issues. It discusses the importance of innovation but also managing the risks of innovation. It outlines 5 rules for managing innovation risk: 1) Understand customer needs, 2) Develop a risk/return model, 3) Recognize model limitations, 4) Expect unknowns, 5) Consider infrastructure needs. It also discusses emerging strategic risks around people and culture enabling resilience against disruptors.
Discussion1From time to time most organizations make improvement.docxmadlynplamondon
Discussion1
From time to time most organizations make improvements in their ERM framework to compete with latest trends in market and reduce risk factors, or simply choose best ERM framework which adds more value and powerful when compared to current ERM framework. Before selecting any ERM the organization should understand that no ERM is perfect and organizations should choose the best available tool by considering their requirements and future enhancements. In addition to risk analysis and risk management, these days may organizations choosing best ERM for the purpose of financial investments decisions making (Will kenton, 2018).
The ISO31000 is much simpler and superior to Risk scorecard model to mitigate the risk, According to current situation Edmonton Police Service (EPS) who wants to share their ERM with other city departments where new programs and initiatives are needed to be created, Using ISO 31000 is one of the best frameworks an organization can use to manage their risk because it increases the likelihood of an organization to improve on the identification of objectives of threats, achieving organization aim, and objectives and effective allocation and use of resources in risk treatment. Although, ISO 31000 is not used for certification purposes it provides an organization with the best guidelines for internal and external audit programs. This guideline helps an organization to compare their risks with that of other international benchmarks, which end up in providing sound principles for effective corporate governance and effective management. ISO 31000 risk assessment techniques mainly focus on the risk assessment, which helps different decision, makes to be able to understand the risk that may end up affecting the adequacy of the control that is in place and the achievement of the objectives. Therefore in a situation where an organization wants to develop a new ERM for their organization the best framework to use it the ISO 31000 (John Fraser & Betty Simkins, 2014).
Discussion2
The organization needed an enterprise-wide common risk framework, annual assessment cycle, and integration into the strategic planning process. ISO 31000 is intended to provide guidance on the nature of the risk management process and how to implement it. This distinction is a crucial one to understand when comparing the two frameworks and understanding how they can be used.ISO 31000’s focus on risk management as a process devotes more attention to implementation, which broadens its appeal for those looking for insights on that subject
“Risk management creates value, is an integral part of organizational processes; is part of decision making; explicitly addresses uncertainty; is systematic, structured and timely; is based on best available information; is tailored; is transparent and inclusive; is dynamic, iterative and responsive to change; and facilitates continual improvement and enhancement of the organization.”Therefore, ISO 31000 is focused on in ...
This document provides an introduction to enterprise risk management (ERM). It discusses how ERM aims to protect and increase value for an organization by taking an integrated approach to managing risks across the entire enterprise. ERM calls for high-level oversight of all risks on a portfolio basis. The document provides background on the evolution of risk management and outlines some of the key risks organizations face today from globalization and other factors. It also notes that chief risk officers and risk committees are important for overseeing ERM.
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.
The document discusses Solvency II and internal models for insurers. It includes interviews and discussions on:
- The EIOPA perspective on how internal models should be defined and reviewed against the standard model framework. Regulators will use the standard model as a starting point rather than saying it is "right".
- What insurers need to consider to make a convincing case for their internal models to regulators. Insurers must convince themselves first through validation and then be able to explain their approach.
- How regulators will protect sensitive internal model data from being released, while allowing necessary review. Regulatory secrecy applies but employee movement is also a risk.
- The levels of information and justification insurers must provide should
The document discusses risk management in organizations. It defines risk management as an organized process to identify, analyze, and control risks. It notes that success of businesses today depends on their ability to handle risks well. The paper will discuss the definition of risks and risk management, risks associated with businesses, and risks related to using information technology. It aims to explain why risk management is important for organizations.
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.
Failure deriving from underestimating risk managementPECB
What is risk? Why are organizations concerned with it?
Whether it is driving, taking a shower or just going at the grocery store, everyone exposes themselves to risk. Organizations face internal and external risks that endanger the possibility of achieving their goals and objectives. As the world becomes more unpredictable, the concept of risk has turned into a major concern to professionals of different industries. According to ISO 31000, risk is the effect of uncertainty on objectives. In addition, risk management is the process of identifying, analyzing, and prioritizing risks. The goal of risk management is to manage risks before they affect the organization.
One of the fastest growing concerns on insurers’ enterprise risk agenda is model risk
management. From being a phrase that primarily actuaries and other modelers used, “model risk” has become a major focus of regulators and the subject of intense activity and debate at insurers. How model risk management has evolved from ad hoc efforts to its currentproactive stage is an interesting story. But more interesting still is
what we believe could be its next stage – generating measurable business value.
Innovation connections quick guide managing ict risk for business pdfAbdulbasit Almauly
This document provides guidance on managing ICT risks for small to medium businesses. It discusses:
1) The importance of risk management and identifying risks before undertaking new business activities or decisions. 2) Common risk management methodologies like risk registers and risk matrices to document and evaluate risks. 3) Major types of ICT risks for businesses related to falling behind technology, poor purchasing decisions, lack of organizational commitment, and missed innovation opportunities. 4) Steps to identify and manage risks when assessing and procuring new ICT products and services.
The Problems Being Faced By Insurance Agency OwnersCogneesol
Insurance business owners face a number of challenges which hit their business performance. Check out this Cogneesol presentation that describes the major issues faced by insurance agency owners and the recommendations to avoid these issues.
This new edition of the Cyber Risk Governance Report includes a case study that illustrates how our cyber risk governance model works in practice.
FERMA has made the ongoing digital transformation a priority for our advocacy work for several years now.This is why, in 2017, we launched one of the first European cyber risk
governance models jointly with our European colleagues and internal auditors from the ECIIA.
Events since then have only strengthened our view that corporate governance models will quickly become obsolete if they do not embed governance for cyber risks under the leadership of a risk and insurance professional.
An approach to erm in the insurance industry apria 2002 rama warrier&preetiRama Warrier
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
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
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.
Nuestro informe Global Risk Landscape 2016 revela que el 87% de los líderes empresariales consideran que
el mundo se ha convertido en un lugar con mayor riesgo. Para la realización de este estudio, que se inició a
comienzos de 2016, BDO ha consultado a 500 altos directivos de las principales empresas de 44 países de
Europa, Oriente Medio, África, Asia y América acerca de lo que consideran que son los mayores riesgos a los que
enfrentan sus empresas en la actualidad y en el futuro.
Para más de la mitad (56 %) de los líderes empresariales encuestados, la mayor amenaza es el aumento
de la competencia, seguida por la desaceleración económica (43%) y la interrupción del negocio (42 %).
La mitigación del riesgo se ha convertido en una cuestión primordial para la mayor parte de las empresas
consultadas, mientras que la creación de valor es visto como el mayor desafío global del futuro.
10 ways to ensure your safety leadership journey towards vision zeroConsultivo
This presentation on Safety Leadership Journey towards Vision Zero is about the path ahead - the ten major ways of establishing a culture of proactive leadership ensuring a safety culture for everyone.
This paper briefly describes what competitive intelligence is, then proposes a competitive intelligence initiative along with suggestions for a structural framework, scope, and individual skills and tools necessary to be successful.
Decades of economic growth and development along with better governance and nutrition-specific programmes had lifted hundreds of millions of people in Asia out of poverty, as well as starvation and malnutrition. However, due to the uneven development, while a large segment of Asian's population had changed their eating habits to over-nutrition diets and worrying about lifestyle diseases like diabetes, cancer and heart diseases, there are still some countries and regions suffering from lack of nutrition. For example, childhood malnutrition and stunting is still prevalent in South Asia, one Indian survey found that 21% of children suffer wasting, and a further 7.5% of children suffer it severely.
For more details, please visit: https://eiuperspectives.economist.com/sustainability/fixing-asias-food-system/white-paper/food-thought-eating-better?utm_source=OrganicSocial&utm_medium=Slideshare&utm_campaign=Amundi&utm_content=Slideshare_whitepaper
The report examines the opportunities and challenges for digital platforms and services in ASEAN countries. It finds that while countries like Singapore have created an accommodating regulatory environment, other ASEAN nations can provide major opportunities due to their large populations but also present regulatory barriers. Digital platforms can help stimulate economic growth, but data localization policies and unclear privacy rules hinder their potential. Public-private cooperation is seen as key to overcoming issues and maximizing the benefits of digital transformation.
This newsletter provides updates on performance, governance, risk and compliance issues. It discusses the importance of innovation but also managing the risks of innovation. It outlines 5 rules for managing innovation risk: 1) Understand customer needs, 2) Develop a risk/return model, 3) Recognize model limitations, 4) Expect unknowns, 5) Consider infrastructure needs. It also discusses emerging strategic risks around people and culture enabling resilience against disruptors.
Discussion1From time to time most organizations make improvement.docxmadlynplamondon
Discussion1
From time to time most organizations make improvements in their ERM framework to compete with latest trends in market and reduce risk factors, or simply choose best ERM framework which adds more value and powerful when compared to current ERM framework. Before selecting any ERM the organization should understand that no ERM is perfect and organizations should choose the best available tool by considering their requirements and future enhancements. In addition to risk analysis and risk management, these days may organizations choosing best ERM for the purpose of financial investments decisions making (Will kenton, 2018).
The ISO31000 is much simpler and superior to Risk scorecard model to mitigate the risk, According to current situation Edmonton Police Service (EPS) who wants to share their ERM with other city departments where new programs and initiatives are needed to be created, Using ISO 31000 is one of the best frameworks an organization can use to manage their risk because it increases the likelihood of an organization to improve on the identification of objectives of threats, achieving organization aim, and objectives and effective allocation and use of resources in risk treatment. Although, ISO 31000 is not used for certification purposes it provides an organization with the best guidelines for internal and external audit programs. This guideline helps an organization to compare their risks with that of other international benchmarks, which end up in providing sound principles for effective corporate governance and effective management. ISO 31000 risk assessment techniques mainly focus on the risk assessment, which helps different decision, makes to be able to understand the risk that may end up affecting the adequacy of the control that is in place and the achievement of the objectives. Therefore in a situation where an organization wants to develop a new ERM for their organization the best framework to use it the ISO 31000 (John Fraser & Betty Simkins, 2014).
Discussion2
The organization needed an enterprise-wide common risk framework, annual assessment cycle, and integration into the strategic planning process. ISO 31000 is intended to provide guidance on the nature of the risk management process and how to implement it. This distinction is a crucial one to understand when comparing the two frameworks and understanding how they can be used.ISO 31000’s focus on risk management as a process devotes more attention to implementation, which broadens its appeal for those looking for insights on that subject
“Risk management creates value, is an integral part of organizational processes; is part of decision making; explicitly addresses uncertainty; is systematic, structured and timely; is based on best available information; is tailored; is transparent and inclusive; is dynamic, iterative and responsive to change; and facilitates continual improvement and enhancement of the organization.”Therefore, ISO 31000 is focused on in ...
This document provides an introduction to enterprise risk management (ERM). It discusses how ERM aims to protect and increase value for an organization by taking an integrated approach to managing risks across the entire enterprise. ERM calls for high-level oversight of all risks on a portfolio basis. The document provides background on the evolution of risk management and outlines some of the key risks organizations face today from globalization and other factors. It also notes that chief risk officers and risk committees are important for overseeing ERM.
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.
The document discusses Solvency II and internal models for insurers. It includes interviews and discussions on:
- The EIOPA perspective on how internal models should be defined and reviewed against the standard model framework. Regulators will use the standard model as a starting point rather than saying it is "right".
- What insurers need to consider to make a convincing case for their internal models to regulators. Insurers must convince themselves first through validation and then be able to explain their approach.
- How regulators will protect sensitive internal model data from being released, while allowing necessary review. Regulatory secrecy applies but employee movement is also a risk.
- The levels of information and justification insurers must provide should
The document discusses risk management in organizations. It defines risk management as an organized process to identify, analyze, and control risks. It notes that success of businesses today depends on their ability to handle risks well. The paper will discuss the definition of risks and risk management, risks associated with businesses, and risks related to using information technology. It aims to explain why risk management is important for organizations.
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.
Failure deriving from underestimating risk managementPECB
What is risk? Why are organizations concerned with it?
Whether it is driving, taking a shower or just going at the grocery store, everyone exposes themselves to risk. Organizations face internal and external risks that endanger the possibility of achieving their goals and objectives. As the world becomes more unpredictable, the concept of risk has turned into a major concern to professionals of different industries. According to ISO 31000, risk is the effect of uncertainty on objectives. In addition, risk management is the process of identifying, analyzing, and prioritizing risks. The goal of risk management is to manage risks before they affect the organization.
One of the fastest growing concerns on insurers’ enterprise risk agenda is model risk
management. From being a phrase that primarily actuaries and other modelers used, “model risk” has become a major focus of regulators and the subject of intense activity and debate at insurers. How model risk management has evolved from ad hoc efforts to its currentproactive stage is an interesting story. But more interesting still is
what we believe could be its next stage – generating measurable business value.
Innovation connections quick guide managing ict risk for business pdfAbdulbasit Almauly
This document provides guidance on managing ICT risks for small to medium businesses. It discusses:
1) The importance of risk management and identifying risks before undertaking new business activities or decisions. 2) Common risk management methodologies like risk registers and risk matrices to document and evaluate risks. 3) Major types of ICT risks for businesses related to falling behind technology, poor purchasing decisions, lack of organizational commitment, and missed innovation opportunities. 4) Steps to identify and manage risks when assessing and procuring new ICT products and services.
The Problems Being Faced By Insurance Agency OwnersCogneesol
Insurance business owners face a number of challenges which hit their business performance. Check out this Cogneesol presentation that describes the major issues faced by insurance agency owners and the recommendations to avoid these issues.
This new edition of the Cyber Risk Governance Report includes a case study that illustrates how our cyber risk governance model works in practice.
FERMA has made the ongoing digital transformation a priority for our advocacy work for several years now.This is why, in 2017, we launched one of the first European cyber risk
governance models jointly with our European colleagues and internal auditors from the ECIIA.
Events since then have only strengthened our view that corporate governance models will quickly become obsolete if they do not embed governance for cyber risks under the leadership of a risk and insurance professional.
An approach to erm in the insurance industry apria 2002 rama warrier&preetiRama Warrier
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
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
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.
Nuestro informe Global Risk Landscape 2016 revela que el 87% de los líderes empresariales consideran que
el mundo se ha convertido en un lugar con mayor riesgo. Para la realización de este estudio, que se inició a
comienzos de 2016, BDO ha consultado a 500 altos directivos de las principales empresas de 44 países de
Europa, Oriente Medio, África, Asia y América acerca de lo que consideran que son los mayores riesgos a los que
enfrentan sus empresas en la actualidad y en el futuro.
Para más de la mitad (56 %) de los líderes empresariales encuestados, la mayor amenaza es el aumento
de la competencia, seguida por la desaceleración económica (43%) y la interrupción del negocio (42 %).
La mitigación del riesgo se ha convertido en una cuestión primordial para la mayor parte de las empresas
consultadas, mientras que la creación de valor es visto como el mayor desafío global del futuro.
10 ways to ensure your safety leadership journey towards vision zeroConsultivo
This presentation on Safety Leadership Journey towards Vision Zero is about the path ahead - the ten major ways of establishing a culture of proactive leadership ensuring a safety culture for everyone.
This paper briefly describes what competitive intelligence is, then proposes a competitive intelligence initiative along with suggestions for a structural framework, scope, and individual skills and tools necessary to be successful.
Decades of economic growth and development along with better governance and nutrition-specific programmes had lifted hundreds of millions of people in Asia out of poverty, as well as starvation and malnutrition. However, due to the uneven development, while a large segment of Asian's population had changed their eating habits to over-nutrition diets and worrying about lifestyle diseases like diabetes, cancer and heart diseases, there are still some countries and regions suffering from lack of nutrition. For example, childhood malnutrition and stunting is still prevalent in South Asia, one Indian survey found that 21% of children suffer wasting, and a further 7.5% of children suffer it severely.
For more details, please visit: https://eiuperspectives.economist.com/sustainability/fixing-asias-food-system/white-paper/food-thought-eating-better?utm_source=OrganicSocial&utm_medium=Slideshare&utm_campaign=Amundi&utm_content=Slideshare_whitepaper
The report examines the opportunities and challenges for digital platforms and services in ASEAN countries. It finds that while countries like Singapore have created an accommodating regulatory environment, other ASEAN nations can provide major opportunities due to their large populations but also present regulatory barriers. Digital platforms can help stimulate economic growth, but data localization policies and unclear privacy rules hinder their potential. Public-private cooperation is seen as key to overcoming issues and maximizing the benefits of digital transformation.
The world’s top 100 asset owners (AOs) represent about US$19trn in assets under management. The largest, and potentially most influential, proportion is in Asia—more than a third of the total. Out of the top 20 largest funds, three out of the first five and nearly half of the total are in Asia.
For more insights, please visit: https://eiuperspectives.economist.com/sustainability/sustainable-and-actionable-study-asset-owner-priorities-esg-investing-asia?utm_source=OrganicSocial&utm_medium=Slideshare&utm_campaign=Amundi&utm_content=Slideshare_whitepaper
Internet connectivity has proven to be one of the most profound enablers of social change and economic growth of our time. Beginning with fixed narrowband internet connections and moving through successive generations of increasingly pervasive and powerful networks, connectivity has come to underpin our working and personal lives, empowering businesses to operate more efficiently and with wider reach. In turn, connectivity has sparked and fuelled countless new industries, products and services that are coming to define our modern age. Connectivity has proven to be a vital ingredient for business success.
This report examines the burden of lung cancer in Latin America and how well countries in the region are addressing the challenge. Its particular focus is on 12 countries in Central and South America, chosen for various factors including size and level of economic development: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, Paraguay, Peru and Uruguay.
In the cyber world, many are attacked but not all are victims. Some organisations emerge stronger. The most cyber-resilient organisations can respond to an incident, fix the vulnerabilities and apply the lessons to strategies for the future. A key element of their resilience is governance, a task that falls to the board of directors.
To learn more about the challenges of governing a cyber-resilient organisation, The Economist Intelligence Unit (EIU) conducted a global survey, sponsored by Willis Towers Watson, of 452 large-company board members, C-suite executives and directors with responsibility for cyber-resilience.
Among the findings:
-In the past year, a third of the companies surveyed experienced a serious cyber-incident — one that disrupted operations, impaired financials and damaged reputations — and most placed high odds on another one in the next 12 months.
-Many companies lack confidence in their ability to source talent and develop a cyber-savvy workforce.
-Executives cite the size of the financial and reputational risk as the most important reason for board oversight.
Artificial intelligence (AI) will profoundly affect the ways in which businesses and governments engage with consumers and citizens alike. From advances in genetic diagnostics to industrial automation, these widespread changes will have significant economic, social and civic implications. As such, Intelligent Economies explores the transformative potential of AI on markets and societies across the developed and developing worlds.
This report, developed by The Economist Intelligence Unit and sponsored by Microsoft, draws on a survey of more than 400 senior executives working in various industries, including financial services, healthcare and life sciences, manufacturing,
retail and the public sector. Survey respondents operate in eight markets: France, Germany, Mexico, Poland, South Africa, Thailand, the UK and the US.
As businesses generate and manage vast amounts of data, companies have more opportunities to gather data, incorporate insights into business strategy and continuously expand access to data across the organisation. Doing so effectively—leveraging data for strategic objectives—is often easier said
than done, however. This report, Transforming data into action: the business outlook for data governance, explores the business contributions of data governance at organisations globally and across industries, the challenges faced in creating useful data governance policies and the opportunities to improve such programmes.
It wasn’t long ago that a work meeting meant gathering around a table to discuss an agenda. These days you may be using Slack, Hangouts or other digital collaboration platforms that blend messaging with video and allow real-time editing of
documents. Even with these tools, communication at work can still break down, potentially endangering careers, creating stressful work environments and slowing growth.
A survey from The Economist Intelligence Unit and sponsored by Lucidchart reveals some of the perceived causes and effects of these communication breakdowns. The survey, conducted from November 2017 to January 2018, included 403 senior executives, managers and junior staff at US companies divided equally and from companies with annual revenue of less than
US$10m, between US$10m and US$1bn and more than US$1bn. The survey research provides insights about what employees see as the biggest barriers to workplace communication, the causes of the barriers and their impact on work life. Complete survey results are included at the end of
this report.
Successful young entrepreneurial innovators have achieved something akin to rockstar status. They grace magazine covers and keynote global conferences, inspiring burgeoning
start-ups and Fortune 50 companies alike.
Collectively, young entrepreneurs are innovative by nature and their thinking is an important source of growth and job creation across the world. Today, with digital tools in hand, leaders are better positioned to expand their businesses across borders, seize niche opportunities and shape the global economic future.
Yet, most of today’s young entrepreneurs want more than status and a global corporate footprint. Their ideas of success arise from powerful social, political and economic convictions.
To find out what really makes young innovators tick, The Economist Intelligence Unit, sponsored by FedEx, surveyed more than 500 of these young entrepreneurs around the globe about their motivations, ideals and priorities. Our survey respondents were between 25 and 50 years of age and all founders, owners or partners of firms with fewer than 500 employees. They are living in North America, Europe, Middle
East, India and Africa, Asia-Pacific, and Latin America. We surveyed them on matters of globalization, technology and social values.
We then compared their views with a similar survey of the general public in the same regions. Side by side, these surveys enabled us to differentiate the outlooks of today’s young and innovative entrepreneurs.
Our surveys identified four key mindsets that guide young entrepreneurs: leading with passion; thinking globally; embracing social responsibility; and banking on connectivity. This report explores the similarities and divergences of today’s young entrepreneurs and the general public. It seeks insights into the elements of the business environment that matter most to entrepreneurs, as well as their views on a variety of issues including free trade and social responsibility.
Education systems across the world are grappling with the challenge of preparing their students for the rapid changes they will experience during their lifetimes. To this end, schools have a critical role in equipping students with the requisite skills and
competencies that will be in demand, particularly as digital technologies such as artificial intelligence (AI) increasingly transform businesses and influence economies. In this report, The Economist Intelligence Unit (EIU) discusses the results of a study that explores how to best prepare primary and
secondary school (referred to in this report as “K-12”) students for the 21st century workplace (“the modern workplace”), where
a mix of hard and soft skills are crucial for success. The research, sponsored by Google for Education, draws on a survey of 1,200 educators in 16 countries.1 It looks at the
strategies most effective in developing 21st century skills and how technology can support such efforts.
Gone are the days when marketing chiefs focused solely on the classic 4Ps: Product, Price, Promotions and Place - they now must take an integrated approach to drive company goals.
Corporate and shareholder sentiment towards MA has rebounded since the dark days of 2008. Low borrowing costs have coaxed many new buyers, including acquisitive Chinese conglomerates, into the market. The prices of prized assets have risen accordingly. It remains a sellers market in technology-driven deals, particularly in the consumer-goods, financial services, and media and telecommunications sectors.
Corporate treasury is now a top target for cyber-criminals. Treasury’s trove of personal and corporate data, its authority to make payments and move large amounts of cash quickly, and its often complicated structure make it an appealing choice for discerning fraudsters.
This document discusses cyber risks faced by corporate treasury departments. It finds that treasuries are prime targets for cyber criminals due to the large amounts of money they handle and authorize payments for. Sophisticated hackers use social engineering and inside information to execute scams like business email compromise, where they impersonate senior executives and trick treasury staff into making fraudulent payments. While companies are taking basic security measures, the research found gaps in defenses against third party risks. Nineteen percent do not verify identity authentication methods for suppliers and 14% do not extend security rules to subcontractors. Treasury departments can help by ensuring third parties are properly secured despite not being directly responsible for technical security.
In a low-yield environment, many Asia-Pacific investors are more actively monitoring their portfolios and willing to increase turnover and shift asset allocations in search of higher returns. However, they proceed cautiously with shorter time horizons due to fears of increased market volatility. Equities, new products, and diversifying across markets are seen as potential sources of returns and ways to mitigate risks. The survey also found that regulations are driving some investors to reallocate assets and take a more active approach to portfolio management, despite increased risk.
Asia-Pacific institutional investors are struggling to balance long-term liabilities with the need to secure yield in a world where it is increasingly scarce. They are also in the world’s fastest-growing region that has no shortage of volatility. How are they achieving returns while managing risks?
How are institutional investors in North America adapting to increasingly complex risks? Are these risks driving investors to make portfolio changes based on short-term goals or are they making tactical moves to stay focused on long-term objectives?
Political risks and the search for yield are pushing some North American institutional investors toward more tactical decisions. Investors are focused on reallocating to equities and using alternative investments to mitigate risks.
How are EMEA investors responding to changing macroeconomic and regulatory environments, stakeholder objectives and pressures, and market conditions? Based on a survey of 200 institutional investors in the region, this report takes a detailed look.
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What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
9. While every effort has been taken to verify the accuracy
of this information, The Economist Intelligence
Unit Ltd. and HSBC Bank Plc cannot accept any
responsibility or liability for reliance by any person
on this report or any of the information, opinions or
conclusions set out in this report.
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