Risk Culture Eats Strategy for Breakfast, Too
Watch some of the best ideas in risk and decision making at the Risk Management Awareness week, streaming now at https://2021.riskawarenessweek.com Peter Drucker, the founder of modern management, articulated succinctly: “Culture eats strategy for breakfast.” The same holds true for risk culture, however, after some landmark oversight cases and accounting scandals of the late 1990s and early 2000s, a shift occurred in the then-emerging field of Enterprise Risk Management (ERM) in firms, denoted in part by the reframing of the phrase “risk culture” from being opportunistic and innovative in pre-financial crisis (2007-2009) to something that is both dangerous and harmful in post-crisis. ERM consequently became focused on the auditing or the accounting fields, or both, emphasizing processes and organizational structure as best practices for ERM, and therefore became the “risk management of nothing.” Read the latest risk management articles in our English blog https://riskacademy.blog/ or Russian blog https://riskacademyrus.wordpress.com/ Join the Risk Management Awareness week from 12 to 16 October 2020. Amazing lineup of speakers running online workshops dedicated to integrating risk management into decision making, planning, project management, performance management and core business processes. https://2020.riskawarenessweek.com/ Check out awesome risk management quantitative software https://www.archerirm.com/insight-risk-academy Enhance your company's risk management practices and improve the quality of your board's decision making with our advanced risk governance course, which covers everything from traditional risk management elements to advanced risk oversight and includes practical case studies and additional resources to strengthen your board's oversight. https://courses.dcroi.org/courses/alex-sidorenko?ref=bda26d
Watch some of the best ideas in risk and decision making at the Risk Management Awareness week, streaming now at https://2021.riskawarenessweek.com Peter Drucker, the founder of modern management, articulated succinctly: “Culture eats strategy for breakfast.” The same holds true for risk culture, however, after some landmark oversight cases and accounting scandals of the late 1990s and early 2000s, a shift occurred in the then-emerging field of Enterprise Risk Management (ERM) in firms, denoted in part by the reframing of the phrase “risk culture” from being opportunistic and innovative in pre-financial crisis (2007-2009) to something that is both dangerous and harmful in post-crisis. ERM consequently became focused on the auditing or the accounting fields, or both, emphasizing processes and organizational structure as best practices for ERM, and therefore became the “risk management of nothing.” Read the latest risk management articles in our English blog https://riskacademy.blog/ or Russian blog https://riskacademyrus.wordpress.com/ Join the Risk Management Awareness week from 12 to 16 October 2020. Amazing lineup of speakers running online workshops dedicated to integrating risk management into decision making, planning, project management, performance management and core business processes. https://2020.riskawarenessweek.com/ Check out awesome risk management quantitative software https://www.archerirm.com/insight-risk-academy Enhance your company's risk management practices and improve the quality of your board's decision making with our advanced risk governance course, which covers everything from traditional risk management elements to advanced risk oversight and includes practical case studies and additional resources to strengthen your board's oversight. https://courses.dcroi.org/courses/alex-sidorenko?ref=bda26d