My thanks to Alex Sidorenko, who recently wrote about The Directors and Chief Risk Officers Group (DCRO) on his blog in Companies need intelligent risk-taking to survive according to DCRO Institute.
I really like the shift from talking about risk management to risk-taking.
Alex says:
Avoiding risk altogether is the single surest way to fail over time, as innovation, competition, and customer lethargy will slowly eat away at the advantages you currently enjoy. Because there is plenty of evidence that organizations don’t take risk well – or at least well enough for long-run interests – we need to adopt practices that ensure our future.
The DCRO Institute [is] a collaboration among practicing board members and C-suite executives has developed an extensive program to help current and aspiring board members become comfortable with the positive governance of risk-taking. In just its first year, registrants for its programs come from more than 65 countries, and graduates of its flagship Board Members’ Course on Risk, an intensive study program, are found serving in boardrooms and C-suites on five continents.
He goes on to assert:
Boards and senior executives who embrace risk in this framework foster an environment of innovation, allowing organizations to grow at rates that allow them to escape the…
