Globalization and advancements in digital technologies have fundamentally eliminated barriers to doing business. Today, the world has become so interconnected that we are now able to carry out business with any organization across borders anytime of the day. The opening of global markets which were once impenetrable for individuals, smaller… Read More »Risk Decision Making in an Interconnected World
Deloitte has published an interesting and useful piece, Reimagine Risk: Thrive in your Evolving Ecosystem based on its 2019 survey of risk management. The paper makes some good points, including: In environments of change, professionals in a range of endeavours often fail to understand risks and their roles in managing… Read More »Reimagining Risk Management in a Constantly Changing Environment
According to the recently published PwC’s 22nd Annual Global CEO Survey, 85% of the surveyed CEOs overwhelmingly agree artificial intelligence (AI) will have a significant impact on their business within the next five years. For this reason, they have plans to pursue AI investments. This is despite the fact that… Read More »Talking About the Risks of AI and Cognitive Technologies
Making intelligent and informed decisions is intrinsic to effective risk management. Many at times risk management decisions are centered around loss events and the negative consequences that might eventuate. The positive aspects of risk taking are hardly noticeable. Let’s take as an example, a decision by local-based company to build… Read More »Thinking About The Upside of Risk
Thanks to globalization and advanced technologies, the world economy is increasingly interconnected and a borderless market. Businesses are no longer depending on their own resources and self-developed capabilities in order to achieve operational excellence, fuel growth and drive strategic success. For example, a retailer headquartered in Toronto, Canada, doesn’t necessarily… Read More »Third-Party Risk: What You Don’t Know Can Hurt Your Business