> Risk > Risk and Strategic Intelligence
Risk and Strategic Intelligence
One of the issues that has concerned me over the years is who is not only responsible for understanding what might happen (both risks and opportunities) but also has the capability to do so.
The easy answer is that operating management is responsible for understanding, evaluating, and addressing what might happen that could affect their business and its ability to achieve enterprise objectives.
That’s the easy answer, because I see the risk function as helping management do that. The risk function shouldn’t own the risk or be responsible for identifying and assessing it.
But do either have the capability to do it well?
A Wall Street Journal article, Building a Corporate Strategic Intelligence Program, got me thinking.
Should an organization establish a function whose job it is to survey and monitor the external environment? If so, should it be on targeted areas rather than the whole potential landscape? (The discussion in the article does not include threats or opportunities from internal sources.)
In the article (which has content by Deloitte but is written by an executive from Invesco, the company it profiles), the Strategic Intelligence function is not part of the risk function.
