CEOs can differentiate their organisations by making an asset out of their ability to manage risks.

CEOs can differentiate their organisations by making an asset out of their ability to manage risks, says a new Arthur Andersen publication. Dare to make a difference. Business risks are greater today, says the report, because:

  • intangibles matter more than tangibles

  • companies are engaged in a talent war

  • technology is speeding change

  • globalisation means no physical frontiers. The report gives a business risk management process blueprint that identifies seven different elements that must be present for effective enterprise-wide risk management:

  • establish a business risk management process-goals and objectives- common language- oversight structure

  • assess business risks - identify - source measure

  • develop business risk management strategies - avoid - retain - reduce - exploit transfer

  • design/implement risk management capabilities

  • monitor risk management performance

  • continuously improve risk management capabilities

  • information for decision-making. Further information is available at: www.arthurandersen.com

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