Magazine article Risk Management

Editor's Prerogative

Magazine article Risk Management

Editor's Prerogative

Article excerpt

HE GUGGENHEIM MUSEUM IN NEW York sponsored an exhibit this past spring on abstraction in the 20th century. The ads promoting the exhibit simply read: "No RISK. No ART." You may have seen them in The Wall Street Journal or The New York Times.

I tore one from the newspaper and it's been posted on my bulletin board ever since. It not only speaks to each of us individually, who in our pursuit of fulfilling personal goals faces challenges and seeks to overcome whatever obstacles we encounter to attain them. But to me, the ad is also an example of how mainstream risk and risk management have become. And this is demonstrated article after article in this special boardroom edition of Risk Management.

A number of contributors, from business leaders to management consultants to a risk manager himself, all describe a similar phenomenon. Risk and risk management have become very visible in the corporate world and a top priority of senior executives. Arthur Andersen and The Economist Intelligence Unit's research quantifies the sea change in their recent study adapted for this month's issue called "An Integrated Approach to Risk Management." In another article, Swiss industrialist Stephan Schmidheiny suggests that managing risks, specifically environmental exposures, will be a key competitive advantage for enterprises in the future in "Eco-efficiency and Sustainable Development." In a third feature, Microsoft's risk manager shows how he has taken risk management "full bandwidth" at this global software leader. …

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