Strategic risk: am I doing ok?

Terry Kendrick (Terry is currently undertaking PhD studies at the University of East Anglia in the application of risk management tools and techniques to strategic marketing planning. In addition he is a strategic planning and strategic marketing planning consultant having undertaken projects for over 50 large organizations in 17 different countries.)

Corporate Governance

ISSN: 1472-0701

Publication date: 1 December 2004

Abstract

This article outlines a practical set of four challenges to senior management who wish to quickly self assess the “fitness” of their organization to manage risk. These four challenges arise from the business and project risk environment in the context of organizational and personal attitudes to risk: Do we understand the shareholder value risks of our strategy choices? Do we understand the risks that our structure and processes pose for implementation of chosen strategies? Is the risk appetite of the organization consistent with the risk appetite of our staff? Are we confident that our staff are effective and efficient in reacting to, and dealing with, risk? The four challenges offered in this paper will enable senior managers to broadly self‐assess an organization’s ability to manage risk as both a value‐creating opportunity as well as a value‐protecting activity.

Keywords

Citation

Kendrick, T. (2004), "Strategic risk: am I doing ok?", Corporate Governance, Vol. 4 No. 4, pp. 69-77. https://doi.org/10.1108/14720700410558899

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited

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