article thumbnail

Severe Weather Threatens Businesses. It’s Time to Measure and Disclose the Risks

Harvard Business Review

In the apparel sector, for instance, the unusually warm winter temperatures across Europe and the U.S. Two-thirds of small business managers declare to have been negatively affected by weather over the last three years. However, efficient risk management can only take place on the condition that the risks are defined.

Hedge 8
article thumbnail

To Prevent Another Rana Plaza, Build Better Societies, Not Just Better Factories

Harvard Business Review

Since then, leaders from business, government, and civil society organizations have come together to address fire and building-safety issues in the apparel factories. The tragedy is that countless people died even though both workers and management knew something was wrong. Global business Risk management Supply chain'

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Innovation Should Be a Top Priority for Boards. So Why Isn’t It?

Harvard Business Review

In contrast, 70% of respondents think their boards have effective processes for staying current on the company; 69% for compliance; 66% for financial planning; and 55% for risk management — although we should note that managing risks is a crucial consideration when pursuing innovation.

article thumbnail

Why Boards Aren’t Dealing with Cyberthreats

Harvard Business Review

apparel, automobiles, retailing, media, hotels, restaurants & leisure); Consumer Staples (e.g., ” Boards can hold executive management accountable for evaluating current cybersecurity risks and maintaining response plans by making cybersecurity debriefings a regular agenda item at board meetings.

article thumbnail

Joining Boards: It's Not Just Who You Know That Matters

Harvard Business Review

And 43% cited technology expertise, HR-talent management, international-global expertise, and succession planning as the skills missing most on their boards. The industry with the greatest skills gap was IT & telecommunications, whose boards are in serious need of international-global expertise and HR-talent management.

article thumbnail

Think About Any Risk Like an Investor

Harvard Business Review

Whether we’re driving in fast-moving traffic, arguing with a colleague in a meeting, or investing our hard-earned money, we are engaging in risk taking. Let’s see how the tenets might apply to three very different cases, each containing substantial risk. Those are: Right-sizing. Right-timing.

article thumbnail

Talent Management: Boards Give Their Companies an "F"

Harvard Business Review

Not innovation, risk management, technology, debt, or the regulatory environment. Corporate directors identified talent management as their single greatest strategic challenge. We know that organizations commit enormous resources and effort to talent management, so why aren''t they doing a better job? Not rising costs.