Changing the Game: Reputation Risk in the Cyber Era

Guest Post by Geary Sikich (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Merriam Webster Dictionary defines reputation as:

1a: overall quality or character as seen or judged by people in general

b: recognition by other people of some characteristic or ability has the reputation of being clever

2: a place in public esteem or regard: good name; trying to protect his reputation

Google Dictionary:

the beliefs or opinions that are generally held about someone or something.

“his reputation was tarnished by allegations that he had taken bribes”

a widespread belief that someone or something has a particular habit or characteristic.

“his knowledge of his subject earned him a reputation as an expert”

[Read more…]

ISO 31000:2018 Certification: The Next Big Thing!

ISO 31000:2018 is the world’s foremost risk management standard.  The Standard provides guidelines, principles, framework, and a process for managing risk.

The standard explicitly states that it should NOT be used for certification or registration.  But, it is.

So, what’s going on?  We can only speculate.  But, here goes:

We now live and work in VUCA (Volatility, Uncertainty, Complexity, Ambiguity) time.  More  companies want to be RISK audited and certified by an independent Certification Body (CB).

And, more CB’s are working to use ISO 31000:2018 as a standard for certification. [Read more…]

Trade War and Supply Chain Risk Management

For the last few months, I’ve been giving talks on the trade war between US and China.  A few of these talks have been in the US.  Others were skyped to China.

The bottom line is that trade between the US and China has been weaponized.

The Wall Street Journal on December 13, 2018 distilled the challenge:

“… it is questionable whether fragile globalized supply chains can thrive at all in an environment where the world’s two largest economies are disinclines to play by the rules, even their own.”

Our response is that risk (threats and opportunities) is the new lens by which end product manufacturers (brand owners) will have to view China off shoring, on shoring, and sourcing in general. [Read more…]