By Gary S. Lynch
In keeping with over thirty years of expertise, famous chief Gary Lynch unearths during this crucial consultant a video game plan to spot and deal with a number of hazards confronted during this courageous new globalized global of adjusting marketplace dynamics and complicated high-tech worth networks. This groundbreaking booklet articulates an experienced-based and spot-on overview of chance administration realities that each one firms should still make middle to their company cultures
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Extra resources for At your own risk! : how the risk-conscious culture meets the challenge of business change
Change 1 A globalized interconnected and interdependent economy. Risk: The evolution of a globalized marketplace has created massive growth opportunities and complexities. As is often the case, with greater complexity comes greater risk. , nationalization of companies), supplier soundness risk, labor risks, export/import compliance, raw material shortages, logistics, capacity, security, and the contingent risk created when suppliers outsource work to other suppliers without involvement of the buyer.
2 Cause and Effect Causality or causation denotes a directional relationship between one event (called cause) and another event (called effect) which is the consequence (result) of the first —RANDOM HOUSE UNABRIDGED DICTIONARY O ver the past few decades, six mega-changes have significantly altered organizations’ risk profiles. Each change spurred economic and social benefits as well as considerable long-term risk. These mega-changes are: 1. A globalized interconnected and interdependent economy 2.
More subtle and invisible are cyber threats, potential attacks on utilities, automation, and infrastructure, all complex and far-reaching in their implications. 4. Personal liability, integrity, and damages. Personal and organizational integrity is mandatory, and cannot be replaced with improved methodology; in fact, a real threat is that integrity may be lost in the shuffle of ‘‘improved’’ systems. Damage can occur at the individual or organization level, most commonly through employee or shareholder suits.