6 Strategies for Managing Enterprise Risk
Now more than ever, businesses need to take a proactive, predictive, and preventive approach to enterprise risk management. Here JD Supra shares an article from Mayer Brown--Mayer Brown shares the key takeaways from a recent high-level discussion they had with their senior executives from leading multinational corporations on smart strategies for managing risk across an entire organization. PLAN BY DESIGN SO RESPONSES AREN’T “BY DEFAULT” Businesses must put more effort toward crises management before they happen. Effective planning requires clear thinking, prioritization, and discipline—specifically, a real understanding of risk exposure, buy-in from senior management, eliminating information silos, having a mechanism in place for elevating critical information, and cultivating a speak-up culture. Most importantly, companies must generate reliable and actionable intelligence before a crisis that will enhance the quality of their decision-making during and after a crisis. MAKE “REHEARSE...