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Wednesday 30 March 2011

Ignore risk management at your peril

"Catastrophic events such as the Fukushima nuclear power plant accident, triggered by Japan’s recent earthquake and tsunami and the 2010 Deepwater Horizon oil spill in the Gulf of Mexico have led to concern about safety in the energy sector," says the Director of our London campus, Patrick Gougeon.

Writing for the Financial Times, Prof. Gougeon's article highlights the dangers of caring more about compliance than the practice of risk management itself.

"Yet, as these and other disasters have shown, a clear lack of preparation and risk management remains an issue for many companies operating in the energy sector. Understanding this fact is crucial, and business schools have an obvious role to play in explaining the facts, reflecting on how best to promote efficient risk management within complex organisations and ultimately adapting their training and development programmes to prepare better for future disasters..."

You can read the rest of his article by visiting the Financial Times website.

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