In case you needed reminding, mother, or sister or daughter, for that matter, always knows best at least when it comes to grasping the importance of risk management.
A 2007 survey of more than 1,700 global businesses by the London-based business and tax advisory consortium Grant Thornton International LLP revealed two nuggets that share the matriarchal Philippines as their source.
Keep in mind that the Philippines has elected two female presidents in its history, including its current president, Gloria Macapagal-Arroyo. Supporters of Hillary Rodham Clinton, take note.
So is it any surprise that the Grant Thornton survey found that 98 percent of the businesses in the Philippines have women in senior management positions, far above the global average of just 65 percent?
More to the point, 70 percent of businesses in the Philippines reported that they have at least one senior manager responsible for risk management. That's the highest percentage among any of the 32 nations surveyed. The global average was just 44 percent, the survey found.
Among global businesses reporting on their top concerns, the risk of private information falling into the public domain brought about by technology advancements led the Grant Thornton results, with 79 percent of countries reporting that as their chief concern.
Tied for second were concerns about enterprise risk and worries over the security of electronic information. Further down the list were concerns about changes in regulations, the loss of suppliers, and the harm to corporate reputations and brands, the survey found.
Many businesses in Asia and Southeast Asia, the Philippines among them, also reported that they consider rising energy costs and costs of raw materials to be some of their chief business limitation risks, the survey found.
And with that, you should be prepped for the fact that the Philippines, thanks to its culture of female political and business leadership, led the Grant Thornton survey in measures taken by businesses to control energy costs. That includes such things as designing an energy savings plan that would remind workers to turn off their computers at the end of the day.
So, when you leave work at the end of the day, remember to turn off your computer and to thank your risk management stars for mothers.
December 1, 2007
Copyright 2007© LRP Publications