Looking at risk through a more objective lens can help organizations identify and address risks before they become threats. In other words, it may be more advantageous to view risk as an opportunity rather than a problem. Risk Management Basics Effective risk management is a core concern for companies of all sizes – as well [...]
When it comes to governance, there are many misconceptions. Consider the myth-or-fact statements below. Fact. Governance practices – such as written policies, a trained and informed board of directors, and strong internal controls – are important for protecting the business and its owners. Myth. Although not a requirement for privately held companies, a knowledgeable and [...]
Risk management plays an important operational role in companies of all sizes. Watch as Doug Mims explains how organizations can conduct risk assessments to help them achieve business objectives.
Publicly traded companies abide by stringent governance practices. This compliance is, in part, due to regulations such as the Sarbanes-Oxley Act of 2002 (SOX). While SOX’s reach does not extend directly to privately held companies, many small and closely held companies have adopted some of its provisions nonetheless. Sometimes referred to as “SOX lite,” these [...]
In today's highly competitive business environment, companies that utilize an advisory board and/or board of directors may find themselves holding a trump card. Why? Because boards provide guidance and perspective that help companies thrive. There are two types of boards that businesses utilize: an advisory board and a board of directors. The primary [...]
In general, most of us agree that a back-up plan is worthwhile. It’s universally accepted as fact that most entrepreneurs are comfortable taking risks. But many business owners focus more on the ultimate risk of failure on a macro-level rather than the smaller—but no less devastating—everyday risks. Those typically include property damage, public relation issues, [...]