The risk management approaches used by many organizations haven't effectively mitigated crucial risks. BP made safety a top priority, only to be involved in one of the worst man-made disasters in history. And several financial firms had risk management activities that didn't prevent them from experiencing disastrous results in the 2007/08 financial crisis.
In this HBR webinar, Harvard Business School professors Robert S. Kaplan and Anette Mikes described many of the problems with typical risk management approaches, and offer a systematic approach to improve the effectiveness of risk management.