Gary Cokins explores the progress boards of directors have made in understanding and delivering upon their roles toward the business and shareholders, specifically the roles associated to governance and risk.
Gary Cokins says that CEOs and other executives should think about William Deresiexicz’s advice to the 2009 plebe class at West Point. Deresiewicz proposed that great leaders incorporate solitude as a way to deeply consider problems, issues, advice, risk and benefits. Cokins suggests a 2012 New Year’s resolution that includes a yoga class to help execs incorporate a little quiet time into each day.
With potentially hundreds of identifiable risks, dealing with them may seem daunting. Let’s break it into more manageable categories. Gary Cokins has labeled four alternative types to help in your organization’s understanding of enterprise risk management.
Measuring and managing operational risks is transitioning from intuitive art to science. But introducing quantification to an area that involves qualitative reasoning and subjectivity can be a little daunting. Take a look at Gary Cokins’ risk map – visualize risks on a single page.
Though strategic scorecards and dashboards can help approach an organization’s mountains of data, they still involve guesswork and intuition – risk. Analytics can help an organization sort through its data and filter out the “noise” when it comes to tracking metrics and KPIs, making it possible to act on fact.
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