Shifting Risk Landscape Requires Greater Focus

The current issue of Harvard Business Review is dedicated to providing insights and recommendations on managing in the new "post-meltdown" world.  One article focuses squarely on the impact to risk levels throughout an organization and how companies are responding.   Here is what they reported.

Since the recession set in, many shifts have occurred in the enterprise risk environment; some threats are rising, while others are falling. Security budgets are being cut deeply and pervasively—though not always in ways responsive to these fluctuations. Security directors must do more with less while helping their businesses clearly understand the shifting threats and ensuring that the most urgent priorities are addressed. For that reason alone, adopting an enterprise risk perspective as a recession coping strategy is itself an urgent priority.  The goal of enterprise risk management is to track, quantify and analyze these shifting thresholds of risk throughout an organization.

Companies must find ways to work smarter and more efficiently.  One of the most effective ways to streamline enterprise risk management is to adopt an integrated approach that aligns all risk related functions and eliminates redundant activities.  Wheelhouse Advisors can provide a quick diagnostic review to determine how your company can improve its enterprise risk management program in a cost-effective manner.  Visit www.WheelhouseAdvisors.com to learn more.