Tag: #NimbleRiskManagement
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Why Businesses Should be Nimble as Well as Agile
Business agility is broader and more strategic than nimbleness, aiming for sustained adaptability across the organization. Nimbleness focuses on quick and efficient tactical responses to immediate challenges. Both are critical for thriving in dynamic markets in today’s business world. Going back to the ‘Jack and the Candle’ rhyme analogy, the candle can be thought of…
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The Increasing Importance of Nimble Supply Chain Risk Management
Businesses rely on supply chains for sourcing, production, or distribution. The goal of this article is to give an update on the current and emerging challenges with supply chain risk management worldwide. Also, to give an overview of what actions and strategies companies have been taking to deal with these increasing risks.
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AI & Supply Chain Risk Management Overview
One goal of this article is to give an overview of the risk management issues with company supply chains and how AI technologies are impacting it. Another goal is to begin the discussion about mitigations for the unique set of risk management issues associated with today’s supply chains, including emerging risks.
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The Risks of Shadow AI and How to Manage Them
‘Shadow AI’ refers to the unauthorized use of AI tools outside an organization’s control. Many AI tools are being used without the permission of company management. Companies should not allow ‘Shadow AI’ usage due to significant risks and potential consequences.
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Risks & Inefficiencies of Not Fully Integrating Acquired Companies
When a company acquires or merges with another company but fails to fully or properly integrate its tools and processes siloization occurs. Poor communication and decision-making during these integration efforts often lead to increased business risks and inefficiencies from what is called siloization. Siloization is often the outcome of poorly executed or incomplete integrations of…
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How Integration of Data Catalogs With Risk Registers Enhance GRC Efforts
Data catalogs and risk registers are integral components of Governance, Risk, and Compliance (GRC) frameworks. Each serves distinct yet complementary roles in managing organizational risks and ensuring compliance. While data catalogs focus on managing data-related risks through visibility and compliance measures, risk registers provide a structured approach to cataloging and mitigating broader organizational risks. The…
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Risk Oblivious to Optimized Risk Management
As is the case with many things you will find that there are various Risk Management levels. From Oblivious to Optimized risk can be a significant problem and NRM expertise along with Flow Engineering can help. Initially people tend to be risk oblivious and just plow forward until a risk surfaces. Ideally, we learn something…
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Core Requirements Shared by Compliance Laws & Regulations
While compliance laws may vary in terms of scope and enforcement mechanisms, they commonly focus on protecting individual privacy rights, ensuring transparency and accountability in data handling practices, granting rights to consumers, and emphasizing robust security measures. By focusing on meeting this core subset of common compliance law requirements described above a lot of business…
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How to Get Started with Risk Registers (aka Logs) from Ground 0
A basic centralized risk management tool like the risk register tool described can go a long way in enabling business success and continuity with little investment. Using a tool like this with the appropriate processes is not just beneficial but essential for enhancing operational efficiency, ensuring compliance, reducing costs, and preparing businesses for future challenges.
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How to Get Started with Data Catalogs & Data Tagging from Ground 0
Data catalogs are critical tools for managing and governing data. Data tagging focuses on adding contextual labels to individual datasets for better management and analysis, data catalogs provide a broader framework for organizing these datasets in a way that enhances usability and governance. Used together data catalogs and data tagging form a powerful combination that…
