Based on an extensive program of case-writing and teaching on risk management, we identify three categories of risk and elaborate on the ways companies can identify and mitigate them, with particular emphasis on strategy execution risks.

In the second article of their two-part series, the authors explore the concept of an Office of Risk Management along with a case study of an innovative risk management function at JP Morgan Private Bank. They also look at the "softer" components of risk management, including a comparison of two...

Risk management is too-often treated as a compliance issue that can be solved by drawing up lots of rules and making sure that all employees follow them. Many such rules, of course, are sensible and do reduce some risks that could severely damage a company. But rules-based risk management will...

Five experts gathered recently to discuss the future of enterprise risk management: Kaplan, the Baker Foundation Professor at Harvard Business School, who with his colleague David Norton developed the balanced scorecard; Mikes, an assistant professor at HBS who studies the evolution of risk...

Rising food prices threatened an unprecedented number of people around the world with malnutrition or starvation in 2008. The new Executive Director of the United Nations' World Food Programme (WFP)--the world's largest food relief agency-- must not only address this challenge but also must...

This paper examines the role of calculative practices in the creation of the Charlie Chaplin museum, a multiparty cultural project with the mission to ‘bring back’ the great entertainer in an ‘authentic’ and commercially viable way. As with many other cultural organizations, there are...

Many believe that the recent emphasis on enterprise risk management function is misguided, especially after the failure of sophisticated quantitative risk models during the global financial crisis. One concern is that top‐down risk management will inhibit innovation and entrepreneurial...

This paper, based on a five-year longitudinal study at two UK-based banks, documents and analyzes the practices used by risk managers as they interact and communicate with managers in their organizations. Specifically, we examine how risk managers (1) establish and maintain interpersonal...