Solid risk management enables the accumulation of abundant information and enough resources to thrive by capturing opportunities in it and adapting to the uncertainty and changes.
Hence, RI (risk intelligence) becomes more critical than ever. Here's the context; how should GRC programs be approached? Should technology be a driver? Can you achieve any level of GRC without automation? Can you achieve any level of GRC without people? What is the real driver of GRC? Modern corporate boards play significant roles in guiding businesses in the right direction and achieve expected business results. Here are the multiple perspectives of shaping a strategic boardroom with digital acumen.
Initiatives of Risk Intelligence
InitiativesofRIIn business, every day is a risk; there are different types of risks; there are diverse viewpoints and different emphases about risks. Solid risk management enables the accumulation of abundant information and enough resources to thrive by capturing opportunities in it and adapting to the uncertainty and changes.
Innovationrisks Innovation in its basic nature is a high risk area; more often you are doing something that hasn't been done before, so innovation has a very low success rate statistically. Innovation risk management would need to be flexible and applicable to a dynamic situation, where innovation strategies are changing frequently
Initiativesofriskintelligence With “VUCA” digital new normal, risk management should be an integral business discipline and a crucial component of the business transformation approach. There are many out there that simply don't understand, or appreciate the benefits of risk and opportunity management. Digital leaders today need to shape the risk intelligence (RI) mindset, build a solid roadmap, and develop a culture of accountability for improving organizational agility and maturity.
InnateresilenceThe world becomes over-complex, uncertain, and ambiguous, the ecosystem dynamic allows the organization to morph as the business conditions and organizational capacities for change to allow a better fit. Organizations should seek to improve their ability to define and communicate a clear, consistent, enterprise-wide approach about setting healthy risk appetite and a variety of possible situations and scenarios to improve business resilience.
Illustraterisks Business ecosystem is dynamic with rapid change and constant disruptions, and risk management has become one of the significant management disciplines to address the changing environment and “VUCA” reality effectively. There’re a growing number of organizations that have shifted their risk management orientation from bottom-up to top-down, with more senior management and board involvement, to take charge with risk issues. The efforts on managing risk holistically or in a more integrated fashion are critical for the long run.
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The "Digital Boardroom: 100 Q&As" Slideshare Presentation
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The "Digital Boardroom: 100 Q&As" Introduction
The "Digital Boardroom: 100 Q&As" Chapter 1 Introduction: The Digital Board's Composition Inquiries
The "Digital Boardroom: 100 Q&As" Chapter II Introduction: The Digital Board's Digital Inquiries
The "Digital Boardroom: 100 Q&As": Chapter III Introduction: The Digital Board's Strategy Inquiries
The "Digital Boardroom: 100 Q&As" Chapter IV Introduction: The Digital Board's IT Inquiries
The "Digital Boardroom: 100 Q&As" Chapter V Introduction: The Digital Board's Leadership Inquiries
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