Does Risk Management Increase Strategic Risk?

Strategic Risk Management
Knowledge Center

 

Next Topic

Strategic Risk Management > Forum

Hong Sun, Management Consultant, Canada
🔥NEW In most organizations, risk management is considered a vital function and attracts great attention from C-suite officers. However, according to Steven Denning, the author of "" and a senior contributor of Forbes, the traditional way of risk management not only is ineffective in turning risks into opportunities, but gives rise to the opposite—more risks. He gives the following 10 arguments:
  1. WRONG FOCUS:The most prevalent approach to risk management focuses on new investments. In this approach, risk managers evaluate and aggregate the risks of potential investments to ensure that only an appropriate level of risk is taken. But this approach is under the assumption that the existing business is risk free and can go on indefinitely "as is," which is completely at odds with the reality that in today's VUCA world where disruption is endemic, continuing the existing business "as is" is a sure recipe for disaster. As a matter of fact, the single biggest risk in most big firms today (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  Alkhaly Mohamed Tahey Conde, Lecturer, Guinea
 

Risk Management Does not Increase Strategic Risk When it is in Line with Sustainable Development

Risk Management must be conducted within opportuni (...)

  Chander Shenoy, Business Consultant, India
 

Risk is Born as Opportunity Arises

When there is no opportunity, there is no risk. It (...)

 
More on Strategic Risk Management
Summary
Forum
Does Risk Management Increase Strategic Risk?
An 8th Class of Strategic Risk?
Classes of Political Risk. Types
Best Practices
🥇Current Economic Conditions and Strategic Risk Management
🥈The Organizational Drag of Risk Management Must be Diminished
🥉Enterprise Risk Management versus Strategic Risk Management
Strategic Risk Identification and Mitigation in Banking
SRM Experiences and Results
Strategic Expenditures (StratEx)
How to Manage Unavoidable Risk
Strategic Risk Management in Agri Business
Involve SRM when making Strategic Decisions
ISO 31000 on Risk Management
Opportunism in Risk Management
Strategies for Investment Risk Mitigation
Risk Management for Beginners
Go find Risks... Embracing Risks
SRM for Central Banks?
Special Interest Group Leader

Are you an expert in Strategic Risk Management? Sign up for free


Strategic Risk Management
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
© 2020 12manage - The Executive Fast Track. V15.6 - Last updated: 26-9-2020. All names ™ of their owners.