Was Organizational Culture the Key Driver in the Collapse of a Major Company?

A large (~5£ billion) publicly traded construction company, Carillion, collapsed earlier this year after months of ignored financial warnings. In fact, because of the size of the organization and how this all went down, the UK Parliament conducted an in-depth investigation into the collapse. The report of the Parliament investigation is quite interesting. It starts…
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disruptive innovation

Disruptive Innovation and Change Resistance: A Death Sentence or Opportunity?

NC State and Protiviti recently released a report entitled, “Executive Perspectives on Top Risks 2018.” The report lists the top ten risks that account for the “key issues being discussed in the boardroom and c-suite” of those organizations surveyed. Topping the chart at risk #1: “rapid speed of disruptive innovation.” The report states: “This top…
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scenario planning

4 Ways Scenario Planning Supports Decision-Making

Have you ever been in the room when someone suggested doing scenario analysis? Did you see everyone in the room cringe at the thought? I have, and I felt pity for the person who made the suggestion. Most likely, everyone in that room has gone through the endless “what if” scenario analysis that takes 4…
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Integrating ERM with Strategy Continues to be a Struggle for Companies

NC State’s ERM Initiative released their 2018 report on the State of Risk Oversight. This report spurs lots of thoughts for me on a variety of topics, but I want to focus today on enterprise risk management adding value to the strategic planning process. Last year, I wrote about how ERM can be used as…
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ERM infrastructure

3 Key Infrastructure Elements for a Successful ERM Program

NC State’s ERM Initiative recently released their 2018 report on the State of Risk Oversight, which is very useful to see the progress (…or not) being made by organizations with enterprise risk management. One of the sections in this year’s report studies the infrastructure of an ERM program, specifically a designated leader of risk, management-level…
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ERM journey

How Digital Transformations Mirror the ERM Journey for Many Organizations

I recently read an interesting Harvard Business Review article titled “Why So Many High-Profile Digital Transformations Fail” which examines the digital transformations attempted by GE, Nike, Sears, Lego, Walmart, Staples, and Proctor & Gamble. These are some big brands that have run into issues when attempting to go full-force into a digital space. This part…
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ERM maturity assessments

ERM Maturity Assessments: Are we assessing the right thing?

At the end of my first year of managing the ERM program for a large Florida property insurance company, we had a big risk consulting firm come in and assess the maturity of the program. ERM maturity assessments measure where your ERM program sits on a scale (typically 1 to 5 or words that label…
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