Calibrating Strategy and Risk: A board’s-eye view (India edition)
Calibrating Strategy and Risk
Boards are deepening their involvement in strategy and refining their over sight of risk as global volatility rises, according to a recent global survey from KPMG.
The survey responses - from more than 1,000 directors and senior executives in 28 countries - suggest that while many boards are deepening their involvement in strategy and risk, significant challenges remain, including linking strategy and risk, and addressing growing cyber security risks.
- Some 80 percent of survey respondents said the board has deepened its involvement over the past two to three years - in the formulation of strategy and consideration of strategic alternatives, monitoring execution, devoting more time to technology issues (including cyber security), and recalibrating strategy as needed.
- At both the Indian and global levels, less than half of the survey respondents said they’re satisfied with the linkage of strategy and risk in boardroom
- In regards to cyber security risks, respondents were of the opinion that managing it may require deeper expertise, more attention from the full board, and potentially a new committee
- Nearly sixty percent of the respondents from India indicated they are not entirely satisfied about the extent of the communication and coordination between the board and its standing committees on risk oversight activities
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