By Honest Madzivadondo, Senior Manager: Governance, Risk and Compliance FFR-NAM
In order for a risk management framework to add value, it needs to be formulated and implemented in such a way that it addresses the organisational needs. Additionally in order for an organisation to be able to ascertain and measure its needs, it has to come up with its ‘needs statement’, which is what we call the strategic plan or the business strategy.
It it is through this that I ask organisations one pertinent question: Does your organisation have an approved strategic plan?
Business Strategy
Business strategy is the art, science, and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. Strategy…
