Research has shown that, unfortunately, corporate strategies are more likely to fail than succeed and those strategies that include a large technology component (such as ‘digital transformation’) are even less likely to succeed.
Contrary to claims by consultants and academics, Strategy is hard, strategy is risky, and because change is ever-present, strategy is inevitable, and ceaseless – strategy is not a Destination it is a Springboard.
Perhaps the most difficult decision any board has to make is to choose a Strategic Position, or where the firm should be in 5-10 years. Such a decision is fraught with a multitude of risks and failure to manage those risks will doom any strategy to failure.
Dr. McConnell’s presentation describes some of the concepts, tools and steps that MUST be taken to improve a board’s decision on selecting an achievable, viable and sustainable Strategic Position.
This is a must watch session for anyone working in risk management and a great foundation for the whole week. Make sure you sign up!
https://2019.riskawarenessweek.com/talks/risk-based-scheduling-and-planning-3/
About Patrick
Almost 30 years as a manager, consultant, and academic with an extensive knowledge of the application of Information Technology to global financial markets. Worked with board and senior level management of large international financial institutions to develop strategies for applying IT to their expanding businesses and with all levels of operational management to deliver business change. Published author, speaker and chairman conference on Risk Management and IT issues.
Specialities: Experienced in all areas of risk management, Credit, Market and especially Operational and Conduct Risks. Comprehensive knowledge of all types of modern financial products, including FX, Equities, Fixed Income and Mortgaged Backed securities. Fully conversant with the theory, practice, mathematics and risk management of modern derivatives. Specialist in banking regulation especially Basel II and Systemic Regulation
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