Risk management is the next wave of solutions to the challenges of governing modern business.
Risk is the latest management buzzword, and companies are elevating risk managers to the ranks of senior management to give risk management visibility and clout. Like so many other business decisions in an uncertain environment, some of these changes have been successful, and others have had unintended consequences. Avoiding or mitigating most of these unintended consequences is possible with the right understanding of the new role of risk management and the right planning by senior management. Once risk managers toiled away in the middle ranks of companies cataloging business properties and buying insurance. Not any more.