Everyone has a different pain threshold and likewise, everyone has different risk tolerance thresholds. We use the plural because each one of us has various thresholds, for example, a perceived one and a financial one. Your risk and risk tolerance thresholds made simple Anyone of us, every-day decides to undertake some activities and consciously or unconsciously assumes risks we consider acceptable/tolerable or sometimes intolerable.Think about various activities: Hunting, fishing, driving a heavy vehicle, and finally cooking in one’s house. They…
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Chief Security Officer, Chief Data Officers and silo effects Up to 15 years ago, the “risk transfer guy” (aka “insurance guy”) was basically the person who signed insurance contracts, with a strong focus on operational risks, as they were the only insurable ones. Nowadays Risk Managers (Chief Risk Officer) rightly consider information silos effect within their organization as critical issues to good risk management which includes reputational damages and many other non operational areas. This is a problem that affects…
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Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. Generally, strategic planning deals, on the whole business, rather than just an isolated unit, with at least one of following three key questions: “What do we do?” “For whom do we do it?” “How do we excel?” For example, the first and third questions are those that motivate an acquisition. Acquisitions are thus strategic choices. Typically strategic…
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