Chairman and Managing Director, Bharat Forge LTD
We have opted for a flexible manufacturing system that allows us to increase or decrease operations by 25%, without any issues. We have implemented this in Europe as well.
CEO and Chair of the EB, Wolters Kluwer
There is much more need for scenario planning than there was a few years ago. Much more need for dashboards that senior executives can look at and understand risk.
Chairman and CEO, MOL PLC
The Arab Spring is a case example that justifies our view that it is impossible to anticipate the unexpected. Our business cannot be protected from certain kinds of risk, even such as countries sinking into a prolonged crisis. So, this reinforces the importance of diversification in terms of the amount of capital we have invested in any given country; and the advisability of working with local partners in certain circumstances so that we do not have to bear risk alone.
President and CEO, Newmont Mining Corporation
Last year’s BP oil spill in the Gulf of Mexico has led many companies to re-ask the question, is enterprise risk management one of those unfortunate check the box activities that every company should be doing because people tell us we should, or is it one that we embrace?
Laércio José de Lucena Cosentino
CEO, TOTVs SA
These are good times for Brazil; the state could already have been slimmed down. There’s no way you can be competitive with a tax burden like ours. And to reduce that burden, the government needs to close the purse. There’s only one way: spend less and spend right.
President and CEO, The Norinchukin Bank
Our bank has branch and office managers in the Miyagi, Fukushima and Iwate Prefectures, which were all hit by the disaster. I told these local heads, who were the on-the-spot commanders, not to panic but to sit tight and issue explicit directions, and that if things went wrong, I as the president would assume full responsibility.
Group CEO, Prudential PLC
We certainly invest a lot around regulation. If you look at the functions of finance, risk and compliance, they are our highest growth areas. We invest a lot in beefing up our resources and our capability to deal with regulators at the right level, because it is strategic for us.