Corporate risk management focuses on cash flows and liquidity; strength of the book of business; threats to brands, revenues, and reputations; natural and other disasters; system and security failures; and failures in the supply chain. These are the risk areas that corporate auditors and examiners look at and that the board expects regular updates on.
But missing from these criteria is risk planning for key corporate executives and contributors, a fact that was substantiated by a survey of more than 1,300 companies by executive recruitment firm Korn Ferry. The Korn Ferry survey revealed that that only 35% of 1,300 companies surveyed had a succ ...