Risk Management and the Board

One of the most important skills for a board member is the ability to think strategically about risk management and that thinking requires looking at redundancy, diversity in the supply chain, and both financial and talent capacity within our organizations. Examining each of those should be viewed more as a productive investment than an unproductive cost.

We have focused on a relentless pursuit of efficiency for the past 30 to 40 years, looking to seize the day and maximize our financial returns with technology advances helping us to become more efficient more quickly. In doing so, we have created fragile — as much as agile — management and production systems. The fully loaded cost of risk management gaps and weaknesses is exposed in crisis situations, whether from supply or demand shocks to an economy.

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About the Author(s)

Jill Agudelo

Jill Agudelo is leader of the risk & compliance practice at CrossCountry Consulting.


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