Measuring and developing the risk management culture - Cultivating sustainable performance | Brochure
Risk culture is the foundation of any changes in risk management
Risk culture is a key success factor for an efficient and sustainable organisation. In the 'people, process, technology' risk management trinity, the ‘people’ dimension is in fact the driving force that spurs on the two other dimensions.
When effective, risk culture enables employees to understand what constitutes a risk, whether or not the degree of risk is acceptable, how risk information operates in the decision-making process, and how decisions must be made based on a risk/benefit analysis.
Studies have shown that a sound risk management culture is generally correlated with lower likelihood of loss and improved performance.
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