Risk Quote: It’s gonna be a long hard drag, but we’ll make it.
—JANIS JOPLIN, SINGER AND SONG WRITER
Risk Quote: The superior man makes the difficulty to be overcome his first interest; success only comes later.
—CONFUCIUS, CHINESE PHILOSOPHER
Another risk not assigned to a single risk owner is life cycle risk—the reality that business units and lines of business start up, grow to maturity, and, in many cases, enter a period of stagnation or decline. The challenge for a central risk function is first to understand life cycle risk and then to identify the stage of the life cycle for different units.
Most large companies have units at different stages in the organizational life cycle. The four stages of the life cycle ...