| (216) 609-3940 |
|
|
 Our most recent columns explored the risk management approach of Paul O’Neill and Stanley McChrystal and their creation of institutional learning systems. Let’s now validate this approach through the lens of history and determine why building organizational capacity for institutional learning is essential to the future of risk management.
0 Comments
 The 2017 cybersecurity survey released by Zurich Insurance Group Ltd., shows that only 62 percent of risk professionals said that their board of directors recognized cyber risk as a significant threat to the organization, down from 83 percent a year ago. The report comes just as Dr. Zhenhua Chen from The Ohio State University and Adam Rose from the University of Southern California released a preliminary report of their research examining the major economic consequences of a cyber-attack in terms of GDP and employment.
How Policyholders Should Respond to Insurance Carriers Who Seek Reimbursement of Defense Costs3/21/2018  When a policyholder tenders a claim to its insurance carrier, the insurance carrier must provide a defense for any claim potentially covered by the insurance policy. Part I of this article explained how over the last seven years, researchers at The Ohio State University have been exploring the concept of enterprise resilience, i.e. how companies can prosper in the face of turbulent change by being able to recognize, understand, and compensate for vulnerabilities. Part II of this article explains the SCRAM (supply chain resilience assessment and management) framework, which enables a business to identify and prioritize the supply chain vulnerabilities it faces, as well as the capabilities it should strengthen to offset those vulnerabilities.  Our most recent columns have explored the risk management approach of Paul O’Neill and Stanley McChrystal and their creation of institutional learning systems. This column focuses on their leadership model and why an evolution in c-suite leadership is critical to the future of risk management. Our recent columns have shared the risk management approach of Paul O’Neill and his conviction that to turn the company around, Alcoa had to create a learning-based culture that would embrace the pursuit of goals set at the level of known possibility. We now explore how retired U.S. Army General Stanley McChrystal used the same approach to defeat Al Qaeda and the broader implications for the field of risk management. One of the best parts of serving as executive director of The Risk Institute at The Ohio State University Fisher College of Business is helping to bridge the gap between academia and corporate practitioners.A Risk Management Primer for Business Leaders – Part VI (Leadership for Habitual Excellence)1/16/2018  Up to now, our risk management primer has consisted of four parts: (i) providing a way to think about risk management, (ii) introducing the concept of corporate longevity as a key metric, (iii) explaining the need for business leaders to become “chief learners” that serve within an institutional learning system, and (iv) how an institutional learning system is integral to risk management. Parts V and VI explore how former Alcoa CEO Paul O’Neill used a risk management strategy focused on workplace safety to create an institutional learning system and a culture of habitual excellence that resulted in record prosperity.
A Risk Management Primer for Business Leaders – Part V (Leadership for Habitual Excellence)1/2/2018  Up to now, our risk management primer has consisted of four parts: (i) providing a way to think about risk management, (ii) introducing the concept of corporate longevity as a key metric, (iii) explaining the need for business leaders to become “chief learners” that serve within an institutional learning system, and (iv) how an institutional learning system is integral to risk management. Part V explores how former Alcoa CEO Paul O’Neill used a risk management strategy focused on workplace safety to create an institutional learning system and a culture of habitual excellence that resulted in record prosperity.
 For the past 30 years, policyholders and insurers have been fighting over insurance for environmental contamination. This list of helpful tips is a good review of lessons learned.
|
AuthorsLori Siwik and Mark Siwik are the founders of SandRun Risk. They apply the principles of vertical leadership and lean six sigma to the discipline of risk management. From time to time they share their blog with guest authors who write about important risk management principles. Categories
All
Archives
March 2018
Categories
All
|
RSS Feed