Managing data to manage your risk
Do you know where your data is? In the event of a cyberattack, how fast can you reconstruct the data your business runs on? Every firm is fair game for cyberattackers, even if you think you don’t have “important” data? A cyberattack will do more than rob the firm of
Employing an iterative approach to get your Enterprise Risk Management right
Incurring losses in the first few years are more common than most businesses would like to admit. Indeed, turning a profit from the very beginning is more the stuff of movies than anything else. Businesses intending to stay in the running for the long term would do well to take
The 4 C’s in Crisis Management: Look Back to Look Forward
What happens when an organisation realises it’s in a predicament? The usual response is to move to contain damage, assure shareholders that the incident is being appropriately managed, and (hopefully) recoup losses. In these situations, the first moves are to contain, command and control. The fourth C is communicate –
A Proactive Brand Is A Resilient Brand
Being proactive means being prepared, and being prepared shows good management and a firm grasp of the risks your business faces. In an environment that is increasingly volatile, proactiveness actually prepares the business for much more than just an emergency. Consider this: when a crisis hits, does it affect just one
Corporate Ethics: What’s it All About?
Corporate governance is about how corporations behave; and ensuring how corporations behave is ultimately a reflection of the society they operate in. Are they careful about how they use resources? Are they respectful of their environment? Do they care about the safety, health and overall wellbeing of the people in their
Corporate Governance scandals: Was Oversight Really Absent?
In an unfortunate turn of events, one of Europe’s most established banks – indeed, a survivor of two World Wars and the fallout of the Great American Depression – became a victim, in 1995, through its lack of oversight of its own staff. But it wasn’t exclusively the lack of
Getting to the root of the problem: One of the many benefits of Enterprise Risk Management
What is Enterprise Risk Management (ERM)? Some have described it as the methodical application of an organisation’s management processes, policies and procedures to identify, assess, prioritise, treat and monitor its risks – and organisations need to do all this in order to achieve its business objectives. But what are the
What you should know before deciding which Enterprise Risk Management Models And Standards to adopt
Enterprise Risk Management (ERM), sometimes referred to as the application of management processes, policies and procedures to identify, assess, prioritise, treat and monitor the risks faced by an organisation, has been evolving for more than six decades. Traditionally, it’s application was restricted to minimise accidental losses and mitigate to a
Fraud Risk Management: A tool to deal with Dishonesty in Business
An effective fraud risk management framework helps organisations deal with this particular risk in a consistent, continuous way. But what exactly is fraud, and how can organisations tell when it is happening? Almost all companies experience fraud in the course of doing business; the only differentiating factors may be the
Befuddled by crisis management mumbo-jumbo?
Businesses are often so intent on operations that crisis management may never even enter the conversation at Board or senior management level. Yet, crisis management is exactly what is required in the event of disruptions. Even the least of this, if not appropriately managed, could rapidly escalate to disastrous proportions