Growth is a balancing act…
Introduction of new products, opening up new territories, mergers and acquisitions are all necessary growth elements, but they also present new elements of risk that must be understood and managed. Enterprise Risk Management (ERM) consulting can help corporate governance analyze their exposures to risk while at the same time address the uncertainty of risk and corporate safety.
Known as “opportunities” in a board room, growth strategies none-the-less pose new risks to an enterprise. When risk analysis and control are not under single management, elements of risk may fall through the cracks. That could be very costly. An ERM Consultant is a person with the skills to analyze “opportunities” and break the risk elements down into specific categories so they can be understood and acted on at the executive level.
Corporate boards need to know the exposures a risk may pose to the enterprise and whether they want to assume management of it or not. CFOs need to understand the financial implications of risks so they can be properly financed. Counsel needs to understand the legal nature of risks so that he or she can insulate the enterprise as much as possible.
Connecting the dots between the board, CFO and house counsel takes skills that few have mastered. Lee M. Hoffman is an experienced ERM Consultant with the communication skills and knowledge to get the job done.