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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 "The Age of Agile" 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:
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 fir
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