The recent challenges, from economic uncertainties to unprecedented global health crises, have underscored the need for Indian corporate boards to re-evaluate their approach to risk management. More critically, it’s time to acknowledge that resilience is not just a buzzword or a fleeting concern; it is an indispensable part of an organisation’s strategic planning.
Risk is a critical topic for boards because it directly influences an organisation’s ability to achieve its strategic objectives and sustain long-term success. It is not merely a compliance matter; rather, it is fundamental to the very fabric of strategic decision-making and corporate governance. Effective risk management allows boards to foresee potential threats, seize emerging opportunities, and ensure the organisation’s resilience in the face of uncertainties. By embedding risk considerations into every level of decision-making, boards can protect the organisation from financial, operational, and reputational damages. Risk management is essential not only for regulatory compliance but for driving sustainable growth and maintaining stakeholder trust.
Risk management is often viewed as a separate silo within an organisation’s framework. It’s essential but rarely integrated seamlessly into an organisation’s strategic vision. However, this perception is undergoing a fundamental transformation. Boards in India are beginning to realise that resilience, underpinned by an effective risk management strategy, is not an isolated function. It is, in fact, a linchpin that can significantly influence an organisation’s strategic direction.
Integration of Risk into Corporate Strategy
この記事は BW Businessworld の July 27, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は BW Businessworld の July 27, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders