Mark Beasley, director of the Enterprise Risk Management (ERM) Initiative and KPMG professor of accounting, and Frank Buckless, Stephen P. Zelnak Jr. Dean of Poole College of Management Enterprise Risk Management Initiative, hosted the inaugural Virtual Thought Leadership Series event, Strategies of the New Normal: Lessons from Risk Management.
In this new video interview, Beasley and Buckless initially broke down the definition of ERM as an additional view on risk management that is designed to be a top-down, holistic strategic view of risk. The discussion took a look at the impact COVID-19 pandemic and how companies can implement ERM processes into their business plans to navigate huge volumes of risks as they look towards a post-COVID world.
Key insights included:
- A single risk can affect an entire organization
- Be patient for the future
- Five ERM principles of COVID-19
- Business models will change in the “new normal”
- Risks can be leveraged as opportunities
Read more about the key insights and watch the full video here.