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1- Risk Management (1)
Article selection: Hamid Atharinejad
Summary : This past fall, Treasury & Risk, a magazine serving the financial community, hosted a senior -level forum focused on creating and preserving value through risk management. Conversation concentrated on three consistent themes: the importance of strong executive leadership to a healthy risk-management initiative, the need for that initiative to extend beyond litigation and operational risks to a wider range of global risks, and the role of risk management in value creation. CFOdirect sat down with PwC Partner Fred Cohen, who led a panel on Enterprise Risk Management (ERM), to discuss these latest risk management trends.
2- Risk Management (2)
Article selection: Hamid Atharinejad
Summary : The term risk management is applied in a number of diverse disciplines. People in the fields of statistics, economics, psychology, social sciences, biology, engineering, toxicology, systems analysis, operations research, and decision theory, to name a few, have been addressing the field of risk management.
Kloman summarized the meaning of risk management in the context of a number of different disciplines in an article for Risk Analysis :
"What is risk management? To many social analysts, politicians, and academics it is the management of environmental and nuclear risks, those technology-generated macro-risks that appear to threaten our existence. To bankers and financial officers it is the sophisticated use of such techniques as currency hedging and interest rate swaps. To insurance buyers and sellers it is coordination of insurable risks and the reduction of insurance costs. To hospital administrators it may mean 'quality assurance.' To safety professionals it is reducing accidents and injuries."
3- How Managing Political Risk Improves Global Business Performance
Article selection: Hamid Atharinejad
Summary : Companies doing business internationally are grappling with political issues that sometimes surprise even the most experienced. A new study by PricewaterhouseCoopers and Eurasia Group shows that despite current efforts, a high percentage of multinational companies believe they are not doing all they could to manage political risk effectively.
4- Achieving Goals, Protecting Reputation
Article selection: Hamid Atharinejad
Summary : The Committee of Sponsoring Organizations, know as COSO, defines ERM as:
"… a process, effected by an entity's board of directors, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the reasonable assurance regarding the achievement of entity objectives."
5- Breaking Down Walls: How an Open Business Model is Now Convergence Imperative
Article selection: Hamid Atharinejad
Summary :We are looking at a singular juncture in the history of business— a time when technology, content, and distribution are converging at a speed never before seen, and where innovations have fueled a power shift toward consumers that verges on social revolution. Despite the abundant energy in the convergence of the technology, content, and distribution sectors, our analysis shows that many of the companies in these sectors are not achieving returns on capital above their cost of capital, and are therefore struggling to create shareholder value. Management tendencies that exist today— i.e., silos, fiefdoms, slow decision making, forced rankings of business cases, outdated executive performance measurements, and inwardly focused marketing—are impeding value creation in this rapidly changing marketplace.
6- View
Article selection: Hamid Atharinejad
Summary : view is based on the idea that sharing our thinking on the challenging issues can help all of us. Some issues are clearly black and white and just require courage to see them that way. Others are grey — grey in their underlying facts, and at least initially grey in how best to approach and resolve them. view is about navigating the grey in a complex world that requires difficult decisions.
To reach those decisions, we all have to look at many different variables and seek other perspectives. We are called on to predict the future, even though we may not have all the information, the ready answers, or a crystal ball. And change happens so quickly that just when we think we have everything buttoned down, the situation shifts and we have to look again.
You may find view to be one source that will help you contemplate, find some answers, and, perhaps, think differently, as you navigate through your own business issues.