Transitioning Leadership and Risk Management.

One of the dilemmas faced by directors and other corporate leaders is the need to be entrepreneurial in ensuring the future success of a company which involves risk, while at the same time retaining prudent control. Transitioning leadership suggests a process of adjustment, adaptation, transformation or metamorphosis from one condition, situation or state to another, depending upon the extent of the internal or external change required to continue to operate and cope. The process also involves risk and its management. Boards need to ensure that risk aversion and contemporary approaches to compliance and risk management do not stifle creativity, innovation and entrepreneurship. In many contexts, approaches to risk management and the risk management community may need to change if risk management is to be viewed more positively as an enabler of enterprise, transition, change and transformation rather than as an inhibitor and overhead cost. [ABSTRACT FROM AUTHOR]