دانلود رایگان مقاله انگلیسی تحول تحت عدم اطمینان عمیق: یک دیدگاه استراتژیک در مورد مدیریت ریسک - الزویر 2018

Abstract

Companies increasingly face the need for transformation in today’s rapidly changing business environment, characterized by major shifts in technology, regulation, and customer behavior. A lack of strategic risk insight and foresightleaves many incumbents insufficiently prepared in the face of such deep uncertainty. We argue that traditional risk management falls short because it predominantly focuses on strategy execution while leaving strategy formulation largely untouched. Moreover, an administrative-heavy risk management process can create strategic inertia and a misleading sense of control. In today’s dynamic business context, companies must not only increase the speed and impact of their strategy execution but also continuously explore the development of new strategies in response to disruptive events or emerging opportunities. Our research shows how leading companies develop a strategic risk management (SRM) capability to increase their resilience and agility in response to deep uncertainty. SRM takes a strategic, forward-looking perspective and focuses on strengthening processes, people, and practices for purposefully integrating risk into the strategy formulation process. This article offers a framework with three proven configurations of content and timing integration, risk management roles, and leading practices that enable effective SRM.

5. Putting the idea into action

In this article, we discussed how companies need to strengthen their SRM capability to adequately address today’s dynamic business environment. We conclude with a number of attention points every senior executive should reflect on to assess his or her company’s readiness for transformation under deep uncertainty.

5.1. Consider the process

Assess to what extent strategic risk is integrated into the company’s strategic planning process and whether and how the timing ofthe risk management and strategic planning processes are interdependent. One option is to operate with minimal alignment between both processes. In that case, the full SRM capability will have to be taken up by the strategy function in close cooperation with business leaders. The role of the risk function will mostly be limited to compliance and execution-related risk prevention. As an alternative, companies can choose to proactively embed strategic risk foresight into strategy development by carving out tightly integrated risk management and strategic planning processes. Dependent on whether the chronology of the alignment between the risk and strategy process is sequential versus synchronous, the risk function will either act in a strategic advisory capacity or as a full-fledged business partner.