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| Author: | Drew, S.A.W. Kendrick, T. |
| Title: | Risk management: the five pillars of corporate governance |
| Journal: | Journal of General Management
2005 : WINTER VOL. 31:2, p. 19-36 |
| Index terms: | corporate governance corporate culture leadership risk management strategic planning decision making industries companies |
| Language: | eng |
| Abstract: | This article deals with the challenges of risk management in the corporate sector. While implementing an integrated approach to managing risk exposures and accompanying strategic decisions, the critical organizational factors must be attended, incl. the five pillars: culture, leadership, alignment, structure and systems. Strategists should be concerned both about how risks are defined, classified, and measured, and also about how they are framed for decision making. It is important to know the underlying factors contributing to and shaping risk taking when designing a risk management framework and related processes. |
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