 This report discusses leading risk management practices and how they can positively affect business value creation even if the feared event does not happen.
This research found that even though strategic risks have become increasingly important, companies have been focusing on the low hanging fruit of operational risk management.
The report makes the following recommendations:
- Conduct annual risk assessments
- Such a risk assessment should consider the wider environment in which the organization operates
- Conduct scenario planning for major risks
- Evaluate the organization's ability to manage major risks
- Keep an open mind about risks and their origin
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