future risks

Will Inflation be a Gray-Rhino in 2021?

Soon after COVID-19 began affecting the U.S. last March, I spotted a brief article on LinkedIn from Hans Læssøe explaining how the pandemic was not a “black swan” event as some were saying but rather a “gray-rhino.” As you may know, a “black swan” is an unforeseen, improbable event, be it positive or negative, which…

8 Critically Important ERM Articles for Navigating Today’s New Reality

In this current environment, you want to make sure you are doing everything you can to ensure your company can not only weather the storm but emerge stronger on the other side. Just because many physical offices are closed doesn’t mean you should just sit on your hands waiting for things to open back up.…

How the Fourth Industrial Revolution will Reshape Risk Management

In the waning years of the 2010s, the term “fourth industrial revolution” is becoming a commonly heard phrase for describing the nature and pace of technological change expected to take place in the decades ahead. Other terms to describe this include cyber or digital revolution. What makes this revolution unique is that it not only…

The Future of ERM – Grooming the Next Generation

As ERM professionals, we are always looking toward the future. The core of our job is to ensure executives are making risk-informed decisions in establishing and pursuing strategic objectives. Our goal isn’t to avoid risk but to help companies take intelligent risks to ensure success. Since our profession should focus on the future, the recent…

ERM and Economics – Making Organizations More Resilient in Difficult Times

Podcast: Play in new window | DownloadUpon reviewing a report from NC State discussing top risks for 2019, both Carol and I were surprised that an economic downturn was pretty far down the list of concern for executives. (As a quick side note, neither one of us are doomsday people thinking the sky is perpetually…

Peak Car – Can ERM Help Automakers Adapt to a Growing Trend?

On occasion, I come across news articles that present a great opportunity to showcase how ERM can be a valuable tool in helping organizations adapt to change. Because let’s face it – any organization, be it for-profit or non-profit, must adapt to growing trends to ensure they remain relevant for the long haul. The best…

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…

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…

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…

3 Threats Leave Long-Standing Food Brands Struggling

One of my recent articles, 8 Possible Consequences of Not Being Proactive in Risk Management, discussed possible ramifications for companies who do not factor risks into decision making. Two of those consequences, product failure and profit/financial loss, came to the forefront of my mind when reading an article from the Wall Street Journal about how…

future risks

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