How Can Risk Culture be Fostered in an Organization?
Fostering a risk-aware culture involves:
Leadership Commitment: Ensure that top management prioritizes risk management and leads by example. Training and Education: Provide regular training to employees on risk awareness and management practices. Open Communication: Encourage open dialogue about risks and create an environment where employees feel comfortable reporting potential issues. Incorporating Risk in Decision-Making: Make risk assessment a part of the decision-making process at all levels of the organization.