Primo

Source: Harvard Business Review Author: Vijay Govindarajan Your organization won’t innovate productively unless some underlying factors are in good shape. If “10″ is outstanding and “1″ is poor, how do you rate your organization on each of these? 1. A compelling case for innovation. Unless people understand why innovation is necessary, it always loses to [...]

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When it comes to business, we are incredibly unaccepting and fearful of making mistakes. And forget about admitting to our mistakes, as that may be construed as a sign of weakness. But business and leadership is all about relationships. And in any relationship, things go wrong, mistakes are made, ups are followed by downs. The [...]

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The main goal of PRIMO is to develop an holistic approach of city governance, i.e. an integrated approach where the city is considered as an entity and in which all institutions and stakeholders cooperate to realize political targets. In this approach the common adressing of risks and benefits, of chances and threatenings is crucial for [...]

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It’s good to take risks—if you manage them well. Source: McKinsey Quarterly Risk is what ultimately creates shareholder value, at least when it doesn’t destroy shareholder value, so managing risk should rank among the core activities of any business. Yet as a McKinsey Quarterly article pointed out back in 2003, “the corporate meltdowns of recent [...]

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Nobel laureate Daniel Kahneman and psychologist Gary Klein debate the power and perils of intuition for senior executives. Source: McKinsey Quarterly For two scholars representing opposing schools of thought, Daniel Kahneman and Gary Klein find a surprising amount of common ground. Kahneman, a psychologist, won the Nobel Prize in economics in 2002 for prospect theory, [...]

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Effective risk management is an integral part of value creation and preservation Source: Directorship In the “good old days” of the post-World War II era, buffers of space and time gave organizations more leeway to react and adapt. Events in remote places seemed to have little impact and were more insulated. Information was available to [...]

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Author: Ed Mallens, Secretary General PRIMO Europe Source: RISK Management & Governance, Edition 6, Summer 2010 Risk management now has a usable reference what is useful for local government. In a brief and clearly written document, – NEN-ISO 31000 -, is explained what principles and guidelines are useful to identify, analyze and treat risks effectively. [...]

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Source: NewStatesman Author: Lois Rogers “Swaths of regulation and an industry of “fear entrepreneurs” have fuelled a climate of timidity about the dangers of everyday life. This island was once populated by an upbeat, outgoing sort of race – the kind who rallied together in adversity, bailed out each other’s houses in times of flood, and [...]

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Source: INSEAD Knowledge “The ability to assess risk and uncertainty is critical for investment banks and businesses. While some may advocate the use of complex models, INSEAD Dean of Faculty and Professor of Decision Sciences, Anil Gaba, believes that if you’re looking to forecast risk, you’d do well to keep it simple. He’s on a [...]

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The Black Swan in the Gulf of Mexico will probably lead us to a turnaround in thinking about public risk, players and stakeholders, the blame, our precious environment and more than that about the precautionary principle, it’s risk management and public governance. It could lead us in a new, more sustainable direction. Last week Thomas [...]

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