Better value generation through a broader application of risk management capabilities to support decision making and the pursuit of business opportunities.

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Most definitions place significant emphasis on enterprise value preservation, which largely comprises of rules, regulatory compliance, risk management, and other types of watchdog activities.

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Mr. Jung, who attended the Korean federation's Stanford program, says he wanted to learn about risk management and creating brand value through cases studies of business successes and failures.

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Firms that are successful in building these capabilities have enormous opportunities, not just for risk mitigation, but for the creation of business value through proactive management of supply chains and identification of new areas for growth.

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It also boasts of a focus on business niches in which it can secure a top-five position, and a pioneering risk-management system that emphasises the creation of shareholder value, and links employees' remuneration to their value to shareholders.

ECONOMIST: Investment banking

The boom in derivatives was one of those moments when financial engineering raced ahead of back offices and risk-management departments, leaving them struggling to value or account for their holdings.

ECONOMIST: Securitisation

There has been a clear maturation of risk management capabilities across all industries, a rapid march up the business value chain and the development of governance and organizational structures that give risk a louder voice at the executive table.

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