INTRODUCTION
Increasingly organizations, both public and private, are recognizing that what citizens, customers, shareholders, legislators, and the financial markets think about their integrity or competency has a significant impact. In a 2014 Global Survey on Reputation Risk a majority of the companies were concerned about situations beyond their control that could affect the reputation of their companies. Continue reading
INTRODUCTION
In a recent e-mail in which he noted that of U.S. Office of Management and Budget (OMB) is issuing its update to Circular A-123 on July 15, 2016, Greg Hutchins, co-founder of the CERM Academy, commented “this is really big. The circular is entitle “Management’s Responsibility for Enterprise Risk Management (ERM)”. It requires all federal agencies to adopt ERM. ERM is a framework by which federal agencies can identify and mitigate risk. I agree with Greg, this will be big. Thus, it is worth stepping back and seeing some of the factors which lead to the adoption of ERM. Continue reading
Introduction
Enterprise Risk Management is the process of determining what an organization’s operational risks are and the appetite that upper level management has for those risks. The idea is that by identifying the risks ahead of time, the risks can be avoided or mitigated.
Like all such procedures, the goal is worthy. However, there are weaknesses. One of the little recognized problems is how people react under stress. Continue reading
With the adoption of ISO 9001.2015 and the Office of Management and Budget’s (OMB) revision of Circular A-123, management of both the private sector and federal government must now pay formal attention to risk across their enterprise. In addition, the Government Accountability Office (GAO) has updated the “Standards for Internal Control in the Federal Government”, the Green Book, to better accommodate risk assessment. Continue reading
I recently completed my dissertation of the same title. The evaluative purpose of the dissertation was twofold. The first was to determine if, as the title indicates, star academics garner increasing returns for the university they work at. The second was to determine what criteria helps academics in obtaining National Institute of Health (NIH) funds. NIH provides the largest amount of federal funding for scientific research. As a result, receipt of NIH funds makes a significant contribution to university revenue. Conventional wisdom and some supporting research indicate that star academics bring in substantial amounts of grant money. They also attract a higher quality of supporting academics and graduate students. Continue reading