Amassive explosion in a busy Chinese warehouse district may top the evening news for a day or two before media attention moves on. Yet, for global corporations, such an event is a stark reminder of the risks involved in operating worldwide. No company can ever completely avoid risk; for entities operating worldwide, managing risks for global locations requires special attention. Nonetheless, when armed with accurate data and risk management tools such as dashboard analyses, risk assessment matrices and benchmarking reports, risk executives can mitigate risk. But even with these tools, risk management executives are still missing two crucial assets to effectively manage risk globally-the first being accurate data. All risk management insight must be fueled by the best data available to make educated decisions. And what good is any data if it isn't properly communicated to the appropriate audiences? With that, the second crucial asset is a clearly defined process for sharing risk-related information throughout the organization.
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