Do you think that companies need to experience a crisis to take risk seriously?

Chapter 34: Building an ERM Program at General Motors

Please answer the following questions:

1.  What are the pros and cons of having risk officers as part-time assignments within different functions and business units?

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2.  Can you think of a company whose strategy failed due to its not considering the actions of external players?

3.  Do you think that companies need to experience a crisis to take risk seriously?