Tag Archives: strategy

3 critical success factors for strategic risk management and 5 questions corporate directors should ask

The announcement from PG&E that the California utility will file for bankruptcy reminded me of a question posed a few years ago by the head of GM’s risk committee: “How do we manage strategic risks?”

Key takeaways —

  1. People can and do die from poor strategic risk management
  2. Due to blind spots in the risk vision of executives and directors, risks can emerge that unbalance corporate strategies and create existential events
  3. The critical success factors for strategic risk management include encouraging and rewarding risk awareness, creating goodwill with stakeholders, and building a strategic risk response plan

NASA’s ARIA team produced this map of damage to Paradise, California, from the Camp Fire, the deadliest wildfire in the state’s history. Image credit: NASA/JPL-Caltech

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