In the Baldrige Excellence Framework the term “Intelligent Risk” appears.  It is defined as: “Opportunities for which the potential gain outweighs the potential harm or loss to your organization’s future success.”  This definition expresses a concern that risk might inhibit innovation. With the addition of Enterprise Risk Management to the 2017-18 Framework has a condition been created where two best business criteria, innovation and risk management, might cancel each other out? More basically, does Enterprise Risk Management (ERM) inhibit innovation related risk taking? Continue reading →