Organizations take risks all the time but fail to monitor and manage risk effectively. Organizations need to understand how to monitor risk-taking, whether they are taking the right risks, and whether the risk is managed effectively.

A cavalier approach to risk-taking is a result of a poorly defined risk culture. It results in disaster, providing case studies for future generations on how poor risk management leads to the demise of corporations — even those with strong brands. Gone are the years of simplicity in business operations. Exponential growth and change in risks, regulations, globalization, distributed operations, projects, strategy, processes, competitive velocity, technology, and business data encumbers organizations of all sizes.

Keeping this complexity and change in sync is a significant challenge for boards, executives, as well as risk management professionals throughout the business.