Today’s climate proves that both local and global events can significantly impact the strategy and operations of an organisation.
With key attributes in today’s volatile and uncertain environment being agility and flexibility, its crucial to consider if your organisation is taking the right steps to bring risk and strategic management together to secure its short and longer term success.
Why integrate risk management with strategic and business planning?
By integrating enterprise risk management with strategy development and execution, an organisation will be well positioned for sustainability and growth.
Why is it that organisations have been slow to adopt risk and strategy integration? Reasons include:
- Adoption of either too simplistic or overly complex risk models
- Treating enterprise risk management as primarily a compliance activity, rather than an integral part of strategic and operational planning
- Lack of clarity on the organisation’s risk appetite, which in turn can either expose the organisation to unacceptable levels of risk or limit the uptake of opportunities
- A lack of understanding how risk management, strategy development and execution best integrate
Risk management must work with the business and the business must understand where, when and how to incorporate it with corporate strategy and operations.
To discover the benefits and the key to successfully integrating the process download our free Whitepaper here.