Functional areas in an organization are often marred with ambiguities--some process related and other role related. The Responsibility Assignment Matrix or RACI Charting is a simple technique to resolve these ambiguities. It works collaboratively to clearly identify functional areas and roles and responsibilities in order to complete a desired activity.

The RACI Acronym stands for:

• Responsible - The individual responsible to complete an activity.
• Accountable - The person who is ultimately answera

Innovative technologies are sweeping away everything: organizations, work practices, offerings, hierarchies, and even business models. Those days are long past when business models used to stay static for years to no end. They are now under threat more so than anything else, since any technology-driven entrant can knock an established business model down in no time.

In order to stay in the game, organizations need to evolve their business models tenaciously.  Business Model Design is grounded on

Financial downturns and intense competition has put a lot of strain over boards and directors to perform better. The effectiveness of the board of directors varies from organization to organization.

An accomplished chairman can make the board more constructive and practical by establishing high standards and helping members improve their participation.

In 2013, McKinsey & Company carried out empirical research to uncover effective board practices. The study analyzed 772 corporate directors, repres

A Message From Our Partner

Dear Global Risk Community member,

Third-party risk has evolved over time as companies continue to leverage outside products and services to gain a competitive edge in their markets. Understanding the finer points of a third-party relationship and what real risks exist has led to an industry of people, process, and technology solutions available to help companies consume, analyze, and make decisions on how they utilize and mitigate third party expo

Overview

To facilitate the various category of taxpayers, the Income Tax department of India has issued seven types of different ITR forms. If you are wondering how it helps, so here your reach ends. the new ITR forms now shift the onus on the taxpayers to prove their claim for the deductions, expenses or exemptions. It ultimately seeks more information from the trusts, taxpayers who opted for the presumptive taxation scheme, investors in shares of unlisted companies etc. This article will surely

Are your back office and front office aligned? Are logistics aligned to sales, is procurement aligned to maintenance, is risk aligned to production? If not, there is a chance you have been hi-jacked by well-meaning technical specialists. So technical, so smart, that they have created too many technical requirements, surrounded by technical jargon, that it is meaningless to the business they are meant to serve. The risk function with so much complexity and a tendency to Risk-Speak is one of the w

New market entry provides potential opportunities for organizations to grow. But penetrating a market and establishing a new business is fraught with complications and failure. Attempts at entering a new market often fail, in fact, research suggests that for every successful market entry about 4 fail. The reasons for such high failure rates involve timing, scale, competition, capabilities, and predominantly irrational decision making.

The decision to successfully enter a market necessitates deta

Transformation programs targeted towards boosting organizational performance have been prevalent for quite a while now. But, such initiatives aren’t easy to manage. The foremost challenge for the senior leadership is to motivate people to modify their behaviors and practices.

For the transformation to be successful, it is critical for the top management to establish the magnitude of change necessary to realize the required business results, before initiating performance improvement projects. They

On Nov. 29, the LogicManager community arrived at Hotel Commonwealth in the historic Fenway district of Boston for sold-out IMPACT 2018. Every year, LogicManager hosts a customer conference where users of the ERM software can learn, share, and grow their risk management program to full maturity.

Recently, the Reserve Bank of India has increased the interest rate on home loans twice in a short space of time. In addition to this, it is expected that there will be another hike of 25 points in the repo rate. This has prompted private banks like ICICI to increase theinterest rates for the home loan by 15 basis points on both the 6 month and 1 year scheme. Government owned banks such as SBI have also increased the interest rate from 8.25% to 8.45%. This is an increase of 20 basis points.

For t

Entrepreneurs usually focus on branding business to increase the visibility and awareness with its customers. As the business grows, it becomes necessary to be consistent in your efforts and maintain a brand which survives every market condition.

The brand is an essence of the business and requires to be promoted in a way that it creates a relationship with the customers and forms a positive image of the business.

Rebranding can be a great way to analyse the worth of your brand in the market and a

Humans have evolved a new body part: the cell phone. One day it will be part of anatomical illustrations of the body in health and medical books probably an appendage on your head. I’m not a Dr. so don’t quote me.

For now, we have to figure out a way to keep this appendage juiced up without being lured into a data-sucking battery-charge station.

There’s even a name for this kind of crime: juice jacking. The kiosk is designed to appear like a legitimate battery charging station, when in fact, it wi

So maybe Christmas now means the very predictable gift card swap, but hey, who can’t use a gift card? But beware, there are a ton of scams. This includes physical, not just digital, gift cards.

Regardless of who gave you the card, you should always practice security measures. Below are two common ways that fraudsters operate.

Transform Gift Card to Cash Twice.

If someone gives you a $200 gift card to an electronics store and then it’s stolen, you technically have lost money, as this is the same as

Internet security is an over-all phase that represents the many different activities individuals and companies decide to use shelter computers or computer networks which were attached to the Internet. One out of the everyday truths behind Internet security is that often the Internet by itself is not a secure environment. The Internet was originally considered as an open, carelessly linked computer network that could facilitate the no cost share of ideas and information. Data redirected over the

The modern technological innovation enhancements get motivated the adoption of cameras in smartphones. Primarily, 3D cameras were a standalone solutions; however, with progress in modern technology as well as innovative different sizes, 3D cameras today are set up within a smart phone. 3D camera technological innovation however ought to have progressed hardware cooperation in smartphones, specifically a lot better storage case and proficient processors. Elevating adoption of smartphones and fas

Understanding AI is non-negotiable for insurance carriers. Out of the entire spectrum of technology that have the potential to affect the insurance industry, the consensus is growing that AI is likely to have the biggest impact. The industry certainly believes this; insurance carriers’ investments in AI are increasing year-on-year, with the trend is set to continue, at least into 2019. And with good reason; Accenture’s Future Workforce Survey recently found that insurance companies that commit t

Integration platform as a service (iPaaS) is a collection of self-regulating accessories for intercommunicating software applications that definitely are integrated in various environments. Integration Platform as a Service might possibly be employed by large business-to-business (B2B) enterprises that are required to integrate on-premises applications and data with cloud applications and data. Easily, an Integration Platform as a Service platform provides you with pre-built connectors, business

When I work with boards and executive teams I am often heard to say, “hold your hands on your hearts and swear you will meet your objectives for this year. “

Now normally I am asking this during a planning session or risk workshop not with 24 hours of the year left to play out. So it is a given that the level of uncertainty over a 12+ month period is such that no one can swear they will achieve their objectives.

I quickly follow up with a question about how the board or exec currently tackle the u

An in-memory database (IMDB) is a system that majorly is determined by the computer’s chief memory to save information as well as being not similar to a data-base management process which applies a disk storage space system. More comfortable internal optimization algorithms and minimal CPU details produce important memory databases fairly speedier in comparison to disk-optimized databases. Getting info from the in-memory database dismisses the seek time frame once querying the data, promoting qu

The problem solving approach to organizational design and management has a number of limitations. It focuses only on what’s wrong, identifying causes, brainstorming solutions, developing action plans, and not taking into account the areas that are working well. Problem solving focuses on the past and excludes possibilities for creativity. The approach is time consuming, costly; harnesses blame game, consistent firefighting, low morale, and discord between teams.

The Appreciative Inquiry (AI) app