Posts by Carol Williams

Carol Williams

233 posts

https://www.erminsightsbycarol.com

ERM Strategic Planning: Ensuring Long-Term Company Needs are Met

With summer officially underway and the 4th of July holiday closing in, hopefully you’re getting some well-deserved time to step away. Besides some vacation time, this lull before strategic planning resumes sometime in the early fall is also a great time to pause and reflect on the contributions of your company’s ERM program – past,…

The Importance of the First Five Minutes of Any Risk and Strategy Conversation

If there’s one thing I’ve learned writing articles for my risk and strategy blog is that considerable thought has to be put into the post’s title and opening lines. With a seemingly endless amount of content on the Internet, visitors will quickly whisk away if the title and intro to an article is not engaging…

8 Possible Consequences of Not Being Proactive in Risk Management

You don’t need to be a rocket scientist or have a crystal ball to know how chaotic today’s world is. Whether due to rising costs, supply disruptions, or some other industry-specific issue, companies across-the-board and around the world are experiencing unprecedented challenges, where the response/reaction will determine their course for the next decade or more.…

3 Potential Approaches to Responsibly Outsourcing ERM

On the surface, outsourcing a support function seems to offer the path of least resistance. Taking this path for a variety of operational areas is certainly tempting and may actually be the best option in many circumstances…but as naturalist and author Henry David Thoreau somewhat cynically puts it – “the path of least resistance leads…

What Does Risk Identification Have to Do With Crime Dramas?

Anyone who knows me well knows how much I enjoy murder mystery TV shows and books. My personal bookshelf is loaded with novels from JD Robb, Tess Gerritsen, David Baldacci, and others. And IF I’m able to manage some TV time, something that is getting more difficult all of the time it seems, shows like…

Avoid the Gotcha Reputation with Executives by Using One Simple Step

In case you don’t know or can’t tell, I love speaking with and learning from others to understand their challenges as it can reveal what others are likely facing. And a recent conversation with a newly appointed head of audit revealed a challenge that I felt important to pass along. You’ve heard me say over…

Multi-Decade High Inflation Creates Both Risks and Opportunities

Back at the beginning of 2021, I explored the gathering storm clouds of inflation and whether it was going to become an issue for businesses and individuals in the year ahead. Very few were talking about it at the time, but signs were percolating that price inflation was indeed going to increase – the question…

4 Simple Steps to a Speedy and Effective Decision

This may sound a little mundane, but with events and changes happening at what seems lightning speed in today’s world, companies of all types and industries need a way to make decisions quickly and effectively. Which is the core what an ERM program is supposed to do…support the company in making risk-informed decisions in pursuit…

How Addressing Minor Risks Through Process Optimization Creates Opportunities

I’ve said it dozens of times here and have seen repeated elsewhere – trying to manage each and every risk can be mindboggling and, at best, lead to wasted resources in the form of time, people, and money. In the most extreme circumstances, attempting to manage every risk can lead to business failure, which is…

One Fatal Error of KRIs and How to Avoid It

If you were to ask what constitutes a well-rounded, mature ERM program that delivers strategic value to the organization, many would say robust key risk indicators (KRIs) would certainly be at or near the top of the list. Writing in the book Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives, Deloitte…

Posts by Carol Williams

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