Is Lack of Collaboration Hurting Your Risk Management Strategy?
Corporate executives and boards increasingly expect risk professionals to identify and assess emerging risks — whether they are just around the corner or far off. But meeting that expectation remains a challenge for most companies, in no small measure due to a lack of collaboration within the organization.
During a recent Marsh webcast, the audience was asked to respond to the following statement: “A lack of collaboration across the company is a barrier to my organization’s ability to understand the impact of emerging risks on business strategy decisions.”
- 63% of the nearly 200 respondents said it was true.
- 24% said false.
- 13% were not sure.
With that in mind, we recommend starting with four key tactics to foster collaboration within your organization and tackle the important issues surrounding emerging risks.