Risk Management: managing risk in the era of behavior
We are increasingly connected and interdependent. We live and work continents apart but are still in each other’s backyardsthat’s why high-risk mortgages in Arizona and Nevada can destabilize Iceland’s economy, for example. Meanwhile, our systems of corporate governance and controls have not kept pace; they’re still figuring out past mistakes but failing to anticipate change or enable adaptability.
After years of perfecting business processes, squeezing productivity, and trying to commandeer compliance, the time has come to look for ways to unleash the very best and inspire people to come together, create change, reach across the tableand across bordersto tackle some of our biggest problems. This has substantial implications on how organizations and their leaders anticipate and assess both risks and opportunities.