strategic planning

ERM at Thanksgiving – An Illustration of Risk Management in Action

On occasion, I like to take some of the concepts we risk professionals think about in our jobs and apply them to different personal situations…take some of the same concepts we use when working with executives to develop corporate strategy and manage risks or uncertainty around that strategy. It’s Thanksgiving week in the U.S. –…
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What Does an Ideal Strategic Planning Process Look Like?

The most recent quarterly issue of Carrier Management, a journal for helping property & casualty insurance executives better understand trends and challenges facing their industry, featured one of my articles on the strategic planning process. Like my other articles appearing in this journal, the following subject-matter is relevant to companies in any industry. While strategy…
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3 Underlying Components to Building a Successful Strategic Plan

Today’s business environment is nothing like I’ve seen at any other time in my life. Based on the various commentary out there, I suspect you can say the same. This turmoil is precisely why a proactive strategic plan is so crucial. This is also why I’m taken aback to know that many companies either have…
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Asking Unbiased Risk Assessment Questions

Originally coined by the U.S. Army War College in the early ‘90s, the acronym VUCA, short for volatile, uncertain, complex, and ambiguous, has become a popular term for describing today’s business environment. I agree this oft-repeated mantra could almost be considered cliché, but that doesn’t make it any less true. To make the best decisions…
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5 Steps to Shifting Board Oversight from Operations and Risk to Strategy

Contrary to popular belief, a Board of Directors, Trustees, or whatever title fits the corporate culture are not only for publicly traded companies. Simply referred to as the Board by most, it can be defined broadly as “…a group of individuals either elected or appointed to provide organizational leadership and oversight.” Following the Enron scandal…
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How to Move Past “Analysis Paralysis” – 5 Steps for Leaders

For this Independence Day week’s post, I would like to share the following article written for the most recent quarterly issue of Carrier Management, a journal exploring issues affecting executives of property & casualty insurance companies. (However, like previous guest articles in Carrier Management and elsewhere, this article can easily be applied to company leaders…
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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,…
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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…
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