Mastering Risk Management

EXTERNAL RISKS AND HORIZON SCANNING

One of the problems of risk management, and indeed management generally, is that so much time is spent worrying about internal risks and not looking at the external environment. Generally, the risks which mainly bring a firm down are about people, often senior management, or external risks.

Throughout this book we shall constantly urge management, as well as risk management, to horizon scan all the time. Horizon scanning permeates so many chapters, from this one to Chapter 3 – Risk management and culture, Chapter 5 – Implementing the risk management framework, Chapter 15 – Reputation damage, Chapter 16 – Information security and cyber risk management, Chapter 17 – Business survival and recovery and Chapter ...