Evaluating Business Risk from an Evolved Perspective
Blog by Julie Urlaub, Founder and Managing Partner at Taiga Company
Emerging from the recent financial crisis, financial analysts are evaluating the decisions and actions that lead to instability. Focusing on uncertainty, some of the conclusions and lessons learned target the fundamental perspectives of business risk and approaches to risk management.In a 15-month study of the risk management processes at hundreds of companies, financial analysts found that the best risk management organizations share some common traits: • They are agile • They elevate management judgment above process • They focus less on risk prevention and more on risk detection and response Specific to the last point, we find prevention and responsive action to be of a similar business sustainability pursuit. While regulatory and economic risks have been on the radar for a long time, the business world must now evaluate financial risk and business sustainability from a similar perspective. By proactively reevaluating your organization’s internal processes and business strategies in the context of long-term business sustainability, you are taking a step in the direction detection and prevention. Today, leading businesses are already taking the opportunity to rework traditional business practices and models to position themselves in a more favorable position for the future. Click here to continue reading.
Home to one third of the earth's trees, the Taiga is the largest land-based biosphere and encircles the globe. Its immense oxygen production literally changes the atmosphere and refreshes the planet. It is this continuous renewal that has shaped Taiga Company's vision to drive similar change in the business world. Taiga Company seeks to be the "oxygen for your business".