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Home   Membership   Education   Events   Resources   External Affairs      July 29, 2014

 


Risk management can spawn competitive advantage
CFO Magazine
There's an old joke of unknown origin that goes something like: A huge bear appears in front of two campers in the woods. The bear sees the campers and begins to run toward them. The first camper drops her backpack, digs out a pair of sneakers and frantically begins to put them on. The second camper says, "What are you doing? Sneakers won't help you outrun that bear." The first camper replies: "I know I can't fun faster than the bear. I just have to run faster than you." The joke is good metaphor for how corporations can outsmart their rivals in today's fast-moving competitive environment: Have a clearer perception of risk than your competitors have.
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High profits and low interest rates: Is US economic recovery for real?
The Economic Times
Five years into the economic recovery, businesses are making record profits, cash hoards are strong and borrowing is exceptionally cheap. But companies aren't plowing much money into big-ticket investments for the future. Nonresidential fixed investment — what businesses spend on equipment, software, buildings and intellectual property — still hasn't bounced back to its pre-crisis share of the economy, let alone made up for lost ground from the record lows of 2009. If firms increased their spending enough to close that gap, it would mean an extra $220 billion in annual economic activity and perhaps a few million more jobs. But there may be even more important and lasting consequences for this lack of spending by businesses.
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4 ways to protect your business against extreme weather
Grant Thornton
Current scientific research suggests that rather than being exceptional, more frequent extreme weather is here to stay. The widespread geographic nature of the spread of bad weather events greatly increases the potential impact on global food supply, while the increased clustering of extreme weather further complicates the picture. While extreme weather patterns have consequences for businesses across the food chain, the greatest impact is on those operating at the front end: agriculture and food production companies.
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Risk: Strategic key that's often missing
ABA Banking Journal
As summer fades to fall, banks will start up an annual ritual that consumes endless hours and satisfies no one—the dreaded strategic planning process. Everyone "knows" that a bank must have a plan. To say otherwise suggests that a bank is rudderless and incoherent. Regulators, employees, and investors crave reassurance that management has a satisfying vision and a workable plan to achieve that vision. Unfortunately, most planning exercises are ultimately unsatisfying because reality rarely follows the intended script.
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The real-world implications of workplace and cyber bullying
Forbes
We've all read news stories about bullying, most in the context of children in school and stories that are endless in social media channels. Turns out bullying doesn't end when we graduate. Bullies grow up too and go on to hold jobs. Each of us probably works with or has in the past at least one. Employers and managers need to be sensitive to the effects of bullying, and ready to step in. Bullying in the workplace and in cyberspace doesn't always get much attention in the media – but maybe it should.
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5 new supply chain risks and regulations
Supply Chain Digital
Supply chain risk is a major issue, and new sources continue to pop up. Adverse weather, natural disasters and factory fires have historically grabbed the attention of CPOs, but there are other risks procurement leaders must be aware of that are just as hazardous. The world of procurement is constantly changing, and supply chain managers must be on top of their game. The following are five new threats that you might not be ready for.
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Common reasons why corporations suffer large, unexpected credit losses
InsuranceNewsNet
Even the largest and most sophisticated finance and credit departments experience unforeseen, painful credit defaults. Why does this happen and how can companies protect themselves? The following illustrates the causes from various perspectives - most of which even the most experienced credit professionals have probably never before considered.
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Managing risk efficiently with a multi-state workforce
Mondaq
Companies with a multi-state workforce have the daunting task of staying abreast of legal and compliance issues on a number of fronts. Even smaller companies, with more limited legal and human resource bandwidth are faced with difficult compliance issues on a frequent basis.

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Why your boss doesn't get risk management
eBizQ
There are a couple of common refrains you may hear on a consistent basis. One is of particular concern to risk managers seeking to establish legitimacy and trust within their organization. "My boss just doesn't get it." The signs you're on this boat are noteworthy. The good news is that the ship has not sailed.

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Addressing supply chain risk, sustainability in strategic plans
Environmental Leader
Although two of the biggest concerns in supply-chain management are risk and sustainability, they are often viewed separately when they should be addressed concurrently in strategic and operational plans, according to a report by The Conference Board.

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Preparing for disaster: 3 ways to improve your BC/DR exercises
Forbes
Disaster recovery testing has been around for more than 30 years but, unfortunately, most companies are exercising their disaster recovery and business continuity plans and capabilities like it was still the 1970s. No evolution. No improvement. No relevance to actual disaster scenarios. For the sake of continuity, resiliency, recoverability, agility, and all the rest of those good words, we'd better change the way we exercise our business continuity plans so that we can be ready when a REAL disaster comes along.
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Mining deaths on the rise
The Associated Press via ABC News
During the first half of 2014, 22 miners were killed in accidents compared to 18 in the first half of 2013 and 19 for the same period in 2012. The U.S. Department of Labor's Mine Safety and Health Administration recently released its mid-year summary of fatal accidents. The report shows eight coal miners died in the first half of the year. While that number is about on par with recent years, the number of workers killed in other types of mining, 14, prompted safety officials to launch a new training and enforcement effort in May. The years 2011 and 2012 saw only 16 deaths total in non-coal mining operations for each year. That number increased to 22 last year. It is on course to spike even higher this year, something mine safety officials hope to prevent.
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Shift work may increase risk for type 2 diabetes
The Boston Globe
Shift workers, especially those who work rotating shifts, are at increased risk for developing type 2 diabetes, a new study suggests. Researchers at Huazhong University of Science and Technology in China reviewed 12 international studies that involved more than 226,000 people, 15,000 of whom had diabetes. Men who worked shifts faced a 34 percent increased risk for diabetes. Both men and women whose shifts rotated, meaning they regularly worked different hours, had an increased diabetes risk of 42 percent.
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Missed last week's issue? See which articles your colleagues read most.

    The ripening case for managed services in risk management (WallStreet & Technology)
New job discrimination guidelines may help many pregnant workers
(The Associated Press via ABC News)
The art of predicting business risks: Why non-experts do it better (Fortune Magazine)

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Colby Horton, Vice President of Publishing, 469.420.2601
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