“(A)s companies try to recover from a devastating global recession… the news is full of stories about companies facing huge calamities… and major political changes… At the same time, companies are coming to grips with other long-term threats, including political instability abroad and the rising cost of doing business domestically.”
– Doug Pinkham
The Foundation for Public Affairs, the Council’s nonprofit research affiliate, has released “Managing Risk: Public Affairs and Enterprise Risk Management,” a new report designed to help corporate public affairs executives understand, and participate in, enterprise risk management (ERM) processes in their organizations.
While the principles of risk management are already familiar to many public affairs practitioners, ERM is a relatively new concept: the effort by multiple functions to identify and manage political, operational, economic or governmental risks across the entire company. To help public affairs practitioners earn a “seat at the table” in these critical discussions, the Foundation has produced this report.
Written by Tom Price, “Managing Risk” uses examples from companies including Union Pacific, Chevron and Deere & Company to demonstrate how public affairs practitioners increasingly participate in their companies’ efforts to manage risk at the enterprise level. The report pays specific attention to the role of the public affairs professional, how to organize for enterprise risk management and how to identify and measure risk.
“Managing Risk” is an essential addition to the Foundation’s growing library of research, which examines emerging trends in public affairs management. It follows recent studies exploring the role of transparency in corporate public affairs (2009) and crisis management (2008).
“Managing Risk” is available as a free electronic download and in hard copy.
Click here to order a hard copy. (A discount for multiple orders is available.)