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Managing Risk Better (20Q)
Risk Appetite Assessment
A key aspect of an effective governance regime, is a clearly articulated “Risk Appetite”.
A Risk Appetite Statement outlines how the business deals with uncertainty and limitations of knowledge in order to “reduce the incidence of decisions that are stupid, short term, narrow minded, or selfishly motivated.”.
This survey is designed to capture a comprehensive view of attitudes towards business uncertainty and risk management and how these influence strategic goals and operational practices.
Please consider each question in the context of both the challenges and opportunities that business uncertainty presents.
When you answer the following questions please appreciate that assessing “Risk Appetite” is a matter of balancing opinions, perceptions, contexts and propensities so there are no right answers. In this survey, “Business uncertainty” refers to a lack of structure or controls, confusion over expectations and responsibilities and ignorance about operational and governance issues.
Also, for the purpose of this survey, you can assume that “business uncertainty” is ONLY controlled by processes, policies, structures, and compliance and governance issues. Also remember that different types of decisions may warrant different levels of risk tolerance, and that respondents should answer each question within the specific context it presents.
The aggregated data will be anonymised.
Before we start on the survey, can you please tell us a little about yourself.