ACC4294: Effective Governance Report, UH, Malaysia Today’s environment is one not only of heightened risk but of prolonged uncertainty
| University | University of Hertfordshire (UH) |
| Subject | ACC4294: Effective Governance |
Question 1
Today’s environment is one not only of heightened risk but of prolonged uncertainty. Blurring the lines between business-as-usual risk management, crisis management, and resilience can enable agility in the face of an uncertain future.
BLANKET statements about the impact of the coronavirus pandemic and its economic fallout may be viewed skeptically. But this much we can say: Risk management failures abounded. Indeed, regardless of how one’s organization has been affected, there is much to be learned about risk management from this still-unfolding crisis.
The Global Risk Report in 2020 prepared by World Economic Forum (WEF) failed to detect the pandemic risk of COVID-19. There is a heat risk map that is used to map risks according to their likelihood and impact on the organization. Is this still relevant in today’s uncertain world?
Question 2
Atkins (2022) in a Forbes article has stated that every year would see a shift in corporate governance standards, in an effort to evolve along with the rapidly changing business landscape and stay aligned with the shifting priorities of all stakeholders. In addition, an article by Moats and DeNicola has stated that there are four trends that will be shaping corporate governance in the US for the year 2022, namely, (1) Shareholders and activist investors beat the drum on ESG, (2) Human capital concerns take center stage, (3) Supply chain disruptions continue for every sector and (4) Quickly evolving data privacy regulations demand nimble responses. Source:
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