Strategic risk management: The new competitive edge

Risk Management has become a critical issue as a result of globalization and the continued quest for greater returns. Whilst most companies now see risk as a key strategic issue, risk is typically still treated tactically and piecemeal. In this article , the authors argue that an integrated risk management approach allows companies to consistently deliver superior performance while proactively managing risks. The article outlines a structured methodology for risk management process evaluation and change. The methodology has been developed through the authors' work as risk management consultants to various companies globally. (C) 1999 Published by Elsevier Science Ltd. All rights reserved.