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FORE School of Management, New Delhi hosted a Management Development Program on Strategic Enterprise Risk Management on 9th and 10th July, 2015


15th July 2015

FORE School of Management, New Delhi hosted a Management Development Program on Strategic Enterprise Risk Management on the 9th and 10th of July, 2015. The event was held on the institute’s campus is highly anticipated given its relevance to the present times. The aim of this MDP was to make the participants aware of Enterprise Risk Management and talk about different International standards that have been developed for the field. Thus it went a long way in suggesting roadmaps for implementation, which had great value for the participants.


FORE, with its goal to achieve and sustain leadership in management education, research, consultancy and more has consistently held such MDPs that are a valuable resource of knowledge and experience for participants. This particular MDP had Prof. Vikas Chandra, Adjunct Professor, Quantitative Techniques and Operations, FORE School of Management, New Delhi with over 35 years of experience in the corporate world as its Program Director. He had put things into perspective by citing the example of Nestle, which was fumbling for responses, which led to much damage to their brand name in the country.


According to Prof. Chandra, “Traditionally Risk Management has focused on financial loss and hazard loss prevention or mitigation. In contrast Strategic ERM starts by asking the question- What possible events or factors could affect the achievement of an organization’s long term goals or strategic objectives.” It has been seen that Business and Operational risks are a growing challenge that need an adequate response for all levels of management. The program was created to arm executives with tools and techniques that taught them tackle the challenges.


The organizers had also done everything possible to keep the MDP engaging by including case studies and risk management games along with lecture presentations. The program made participants aware of the basic concepts of risk management. Some of the other aspects of ERM that was covered under the program included risk identification, risk evaluation, risk mitigation, International standards ISO31000, COSO and roadmap for implementing ERM.


The MDP was conducted by the faculty members of the institute along with a few guest speakers. It was an ideal platform for mid and senior level executives from different functions and types of organizations. Top managers who were looking into implementing Risk Management in their companies because of the provisions of the new Companies Act found that the program had a lot in store for them. What’s more, besides useful knowledge they also walked away with a Certificate of Participation at the end of the program.


Prof. Chandra underlines the importance of the program as he said, “This MDP was useful for anybody, as it tackled a subject that affected everybody. In the organizational context, it would especially be useful for executives who had to deal with these issues on a daily basis.”


MDP Office:

FORE SCHOOL OF MANAGEMENT
Adhitam Kendra
B-18, Qutub Institutional Area,
New Delhi - 110 016 (India)
Phone: +91-11-41242424 to 33
Fax: +91-11- 26964229
 

 
 
 
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