Risk Management Becoming More Strategic
The survey shows that companies that have implemented risk management strategies are primarily driven by: a need for compliance (71%); company policy (64%); demands from customers (63%); financial benefits (55%). Larger companies with more than 1,000 employees naturally have a stronger focus on risk management than smaller organizations, with 77% stating they have a dedicated risk management team. Of the companies surveyed, 45% plan to increase their investment in risk management over the next three years.
"Risk management is not a new concept, but is being embraced in new ways by successful organizations to support growth," says Luca Crisciotti, CEO of
Most respondents (81%) think that basing their management systems on a structured risk management approach will bring added value to the organization and its stakeholders.
This finding becomes more useful to everyday business operations as ISO, the leading global standards organization, rolls out new versions of its ISO 9001 and ISO 14001 standards for quality management and environmental stewardship. Both contain greater requirements for considering stakeholder needs (not just the company's near-term business targets) and defining upside opportunities as part of the risk management process.
The survey was conducted in
For a full copy of the survey and findings, visit the report web site.
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