Transforming Corporate Culture to Embrace Risk Management for Future Success
The article discusses how companies can manage risks effectively after crises by focusing on the human aspect of capitalism. It emphasizes the importance of identifying and working with different risk factors, creating scenarios, and distributing risks across the organization. The researchers suggest empowering business units with risk management capabilities and implementing mitigation strategies and hedging tactics. The key findings highlight the need for a culture of risk management, involving all levels of the organization in understanding and managing risks for better performance.