Strategic risk management in large private companies of Colombia

Main Article Content

Andrea Lucia Palacio Giraldo https://orcid.org/0000-0002-0828-4568
Maria Antonia Nuñez https://orcid.org/0000-0002-1246-5361

Keywords

risk, risk management, strategic, strategic risk

Abstract

Strategic risk management is a continuous process in which are identified the events that have an impact in the capacity of the organization to create value and they can prevent the strategic objectives of the organization. This process requires of a framework that defines a structure, roles, responsibilities, policies, risk appetite and integration with strategy and organizational management. Therefore, the objective of this article is describing how some large private companies with operation in Colombia make their strategic risk management. For that, it was used a qualitative methodology and the application of five semi-structured interviews to the leaders of strategic risks management from large companies of energy sector, brewer, food and non-alcoholic beverage. The results found expose the importance of carrying out the strategic management and risk management in integrated manner, so that negative events are mitigated and take advantage of opportunities identified in a timely, as well as including within from the analyses, quality information, both qualitative and quantitative, that allows reducing uncertainty. Based on the knowledge of these processes, a starting point is proposed for organizations that wish to implement strategic risk management as a mobilizer of the achievement of the business objectives.

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