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RE: Steem, corporate governance and value - a new way of thinking?

in #business8 years ago

Great comment. In Integrated Reporting, risk is dealt with the way businesses generally should deal with it; the expectation is that the board will map risks and assess them in e.g. a matrix of potential impact on creating value under the strategy/likelihood of materialising. The operating levels of the company should be dealing with risk on an ongoing basis; the board should occupy itself only with those risks which show up as high impact/high likelihood of materialising (essentially, not get stuck in the weeds or interfere in operations). In other words, the board's responsibility is to identify, with the executive, those risks which are "material" to achieving the sustainable value identified in the strategy. Will post more about materiality soon.

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