Benchmark board best-practices on risks and update to the latest risk thinking
The risks businesses are facing today are enormous: from geopolitical risks, to social evolution, to technological progress to growth risk to many others. High-quality risk knowledge helps the board to focus on the significant issues facing the organization and to provide adequate risk guidance.
Risk awareness and supervision are among the central duties of an effective board, yet despite this important risk mission, many boards do not have a systematic risk approach.
IMD’s Boards and Risks program is an opportunity for board members to develop this approach and to upgrade to best-in-class risk work while differentiating it from executive risk thinking.
The program has been very impactful. Straight after completing it we were having conversations about the risk register, the risk matrix and mitigation plans. The program showed me the importance of having conversations around the absolute fundamentals of risk and not overlooking these by assuming they’re in place. I now see how crucial it is to actually use governance as a tool to drive value creation and strategy, which is a significant change in mindset.
The more training you have on risks, the more you know how to make informed and well-balanced decisions if things head in the wrong direction.
Boards & Risks provides a heightened awareness of the risks to look out for as a board member; it broadens your knowledge of what you are responsible for.
Understanding risk from the Board’s standpoint, and managing expectations when it comes to risk has been a game-changer.
A board’s job is to manage risk, and the program helped us to structure risk in various categories in order to effectively implement risk mitigation.
Risk was the area where I felt I had the least knowledge and I really wanted to know how we should be working. The models were very relevant and applicable, and I went away with a lot of specific tools to do better.
Boards can tend to think about risk in a narrow way. The frameworks broadened my perspective and helped me think about risk differently and turn it into opportunity.
Length: 2 days on campus.
IMD board diplomas
