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15 June 2008 · Article

Losing touch with the market

Are current approaches to risk management placing western companies at risk? Risk is high on every executive agenda, as the uncertainties of new markets and global supply chains supplement traditional sources of risk. The maturity of risk management systems is today recognized as a defining characteristic for a company’s competitiveness; and contracting and commercial practices represent key weapons in the risk management armory. But are they in fact enhancing competitiveness, or do they risk driving companies into the ground? This introduction to the risk management theme of this issue will briefly review the major categories of risk and will then summarize the findings of IACCM’s latest risk maturity study, reporting on the extent to which risk regimes have adapted to the pressures of current market conditions.
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\r\nTIM CUMMINS, CEO, IACCM


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