strategic risk

risk terminology

Interview Dives into Complex Subject of Talent Risks and Opportunities

Just before the 2022 Christmas holidays, I had the pleasure of speaking with Julian Rierson for a short bit over Zoom on the current issues, risks, and opportunities around talent. Julian has an interesting blend of HR and ERM experience, so I felt he was uniquely positioned to provide insights on not only HR issues…
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Don’t Let Goals and Initiatives Be Blindsided by External Events

As the end of the year draws near, I think we’d all agree that while it wasn’t without its challenges, this year also wasn’t quite as turbulent as the previous two. While a lot of people are juggling company parties, shopping for friends and family, and special activities for the kids, most companies are putting…
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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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The Three Lines Model – 3 Reasons Why I Don’t Like It

Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…
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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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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.…
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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…
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