There is definitely a lot in business advice currently that addresses risk management (much to do with the recent economic crisis, obviously), and most advice has a specific ownership slant on the topic. This is another discussion with a suggested better “framework”. And while I think this is a very good listen, I also think this is another topic for which one has to research the best in class and then use the “poll” method of coming to your own best practice results.
Excerpt: The risk management approaches used by many organizations haven’t effectively mitigated crucial risks. BP made safety a top priority, only to be involved in one of the worst man-made disasters in history. And many financial firms had risk management activities in place and were still hit with disaster in the 2007/2008 financial crisis.
Harvard Business School professors Robert S. Kaplan and Anette Mikes say the problem lies with typical risk management approaches. They offer a systematic way to improve the effectiveness of risk management. Listen to their framework here.
Listen to webinar here via A Better Way to Manage Risk – Jason Sylva – HBR Events – Harvard Business Review.