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.
CitationDownload as .RIS
Emerald Group Publishing Limited
Copyright © 2004, Emerald Group Publishing Limited