Original Source: COSO (Committee of Sponsoring Organizations of the Treadway Commission)

Value is a function of risk and return. Every decision either increases, preserves, or erodes value. Given that risk is integral to the pursuit of value, strategic-minded enterprises do not strive to eliminate risk or even to minimize it, a perspective that represents a critical change from the traditional view of risk as something to avoid. Rather, these enterprises seek to manage risk exposures across all parts of their organizations so that, at any given time, they incur just enough of the right kinds of risk—no more, no less—to effectively pursue strategic goals…

Contributors: Open Source
Categories: SIG U Resource, Whitepaper
SRC Type: Risk Management, Sourcing Management, Third Party Management