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Art Of War And Risk Management

770 words - 4 pages

Universidad Autónoma de Nuevo León
Facultad de Contaduría Pública y Administración
International Business Program

Finance VI
The Art of War by Sun Tzu & Risk Management

Roberto Mauricio Sandoval Salazar
Group: 8Vi
ID: 1568794
Teacher: Eduardo Treviño

Ciudad Universitaria de Nuevo León, February 28th, 201
The Art of War by Sun Tzu & Risk Management

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

This quote comes from a translation of ...view middle of the document...

Some risks are more important than others because they affect key business processes. Without a mapping of your risks alongside your processes, you would have to treat every risk as if it is critical. This obviously means spending more resources than needed in managing the risks and, to follow the metaphor, not having enough soldiers as you should for the next battle.

How to win a hundred battles then? Mastering your processes is the first step, mapping them, establishing objectives, threats, controls, procedures, etc. Building and drawing your company’s architecture, the road map that will lead you to your objectives, is the stepping stone. Business blueprints, creating a common understanding of the organization, and recognizing strategic and tactical business demands, will give you the ability to monitor and upgrade performance.

The second step would be to add the risks to this blueprint, this conceptual construct. Because your process is real and not just a concept, there are risks that could jeopardize it. Once more, awareness, control, and planning will do the trick, curbing the potential impact or the probability that your process will be derailed. You could even go one step further and integrate all the factors that may influence performance and strategy: competitors,...

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