Purpose – The purpose of this article is to propose a process which ensures boards make risk pay off by identifying and selecting opportunities which more than compensate for the risks assumed. Organizations are increasingly under threat from factors such as globalization, regulations, and...

Purpose – This article integrates strategy mapping, risk management and management control into a risk‐based approach to strategy execution. It uses strategy mapping as a tool to visually depict the firm's strategy and then assess its risks. Based on this risk assessment, the firm's...