By Gary S. Lynch
According to over thirty years of expertise, well-known chief Gary Lynch unearths during this crucial advisor a video game plan to spot and deal with a variety of hazards confronted during this courageous new globalized international of fixing marketplace dynamics and intricate high-tech worth networks. This groundbreaking publication articulates an experienced-based and spot-on evaluation of danger administration realities that each one agencies may still make middle to their company cultures
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Extra info for At your own risk! : how the risk-conscious culture meets the challenge of business change
As a result, single points of failure became more prevalent, thus increasing the risk profile. Here are a few examples: Factories and assembly lines became totally automated, increasing the dependence on sophisticated technology, concentrating resouces where many single points of failure now exist. Most manufacturing, assembly and testing was outsourced to the Asia-Pacific region in the 1990s, thus creating massive sourcing, transportation, and communication single points of failure points. 1 magnitude earthquake off the coast of Taiwan disrupted 98% of Taiwan’s communications with Malaysia, Singapore, Thailand and Hong Kong —almost no calls could be made to Southeast Asia.
Many organizations tried to solve this dilemma by deploying corporate-driven holistic enterprise risk management (ERM) programs. Those involved with the deployment of these programs have been and are still struggling to gain the support of executive management. Unfortunately, ERM is not a silver bullet. It has its place in providing a common language, protocols, and framework for managing organizational risk holistically. However, support might be diminishing. ’’ In 2004, only 39% of the CEOs and 30% of the COOs said it was important.
Demand-side risks (typically customer facing risks): unfavorable trade, legal or regulatory environment, language barriers, evaporating market, obsolescence, and lack of experience selling to customers in emerging markets. Change 2 Implementation of JIT process improvement. Risk: In an effort to improve the return on assets, JIT is a process to reduce inventory and its associated costs. Typically the JIT process is pushed upstream which results in Tier 1/first line suppliers also trying to reduce inventory.