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www.FinRM.org |
Global RISK Management Network™
Managing Change, Uncertainty, and Complexity through People-Process-Technology
The Mission
Educate... Enlighten... Empower...
Developing leading edge thinking and practice on Contemporary Financial Risk Management and Business & Information Technology Risk Management issues to facilitate organizational and individual performance, success, and fulfillment.
A sample of our corporate and organizational clients, patrons, and users is listed below:
Business Schools: Harvard, MIT, Princeton, Stanford, UC Berkeley, Wharton
Consulting Firms: Accenture, Ernst & Young, McKinsey, Price Waterhouse Coopers
Global Corporations: Goldman Sachs, Google, HP, IBM, Intel, Microsoft, Wells Fargo
World Governments: Australia, Brazil, Canada, China, European Union, UK, USA
U.S. Defense: AFRL, Air Force, Army, CCRP, Comptroller, DISA, DoD, NASA, Navy
World Defense: Australia (Air Force), Canada (Defence R&D), UK (Ministry of Defence)
Associations: AACSB, ABA, ACM, AICPA, AOM, APICS, ASTD, ISACA, IEEE, INFORMS
5 Tenets That Drive this Digital Social Enterprise for Public Good
- Genuine care about most crucial concerns of the global community.
- Doing a lot and giving it away without expecting anything in return.
- Really caring about how what we produced made a real difference.
- Actively seeking to know about it through published public record.
- Adapting our focus based upon crucial world events and concerns.
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 One example of how our digital social enterprise has proactively contributed to advancement of worldwide managerial practices
Where our contributions to advancing global managerial research and practices have been covered
Worldwide organizations that have worked with us in pioneering cutting-edge business technology management practices as sponsors and patrons
A small percentage of millions of our global users and members that have chosen to join our latest global virtual community
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5 Dimensions of Creating Global Benchmarks through
High Impact Knowledge Management
Practices
1. Global High-Profile Footprint: Global RISK Management Network
is unique in being the world's digital gateway to the largest pool of
talented minds involved in Contemporary Financial Risk Management, Information Technology Risk Management, and, Business Risk Management issues related research and practices across the USA and all
other countries of the world. Among our
users are world's respected corporations and consulting firms;
prestigious business, management, and technology institutions; top-tier
publishers of business, management, and technology literature; high
profile world development agencies; and, world governments and national
defense services of most progressive nations of the world.
2. Global High-Profile Research Impact: References to our leading-edge research
are found across all areas of business, technology, and management
practices in every realm of social and economic activity across all
countries of the world. In any given month, our ventures service the
learning, developmental, and networking needs of a few million business
technology management professionals on average. Our
content, community, research, and thought leadership have been
generously endowed with a user base of world-wide learners and patrons. They serve as a highly focused reference
and are visible on the web sites and intranets of worldwide
corporations, organizations, institutions, associations, publishers,
libraries, and, publications.
3. Global High-Profile Reviews: Global RISK Management Network Web
portals are the home of award-winning content, community, research, and
practices reviewed and recommended in the columns of Wall Street Journal, Business Week, Fortune, Forbes, Fast Company, Chief Executive, CIO Magazine, CIO Insight, Computerworld, Information Week, KM World, New York Times, Los Angeles Times, Seattle Times, and thousands of other worldwide publications. Many
of our activities have received unsurpassed reviews and awards in
worldwide popular press as well as practitioner and scholarly forums.
4. Global High-Profile Thought Leadership: The global impact of the thought leadership of Global RISK Management Network is self-evident in the policies, strategies, and practices of world governments and worldwide organizations across most countries of the world. World's
governments, corporations, institutions, and, corporate executives seek
and apply Global RISK Management Network's counsel on national policies and corporate
strategies. Worldwide
consultants, managers, entrepreneurs, corporate executives, government
officials, professors, and scholars reference our research and
practices.
5. Global High-Profile Mentors and Supporters: The minds behind this knowledge-based global social enterprise consist of world’s most distinguished experts ranked among Nobel Prize winners and most distinguished professors from most prestigious institutions. The minds that support this social enterprise consist of world’s most esteemed scholars and practitioners whose works and words literally move world economic markets and shape the world economy. |
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The futuristic paradigm of Complex Adaptive Systems that can handle unprecedented change, uncertainty, and complexity continues to be the central theme of research and practice on which Global RISK Management Network was founded. It is also the central theme on which our early contributions to managerial practice have been written about by the New York Times and the Wall Street Journal among others. For instance, commenting about controls and regulation in complex and uncertain business environments, we observed the following in an invited interview published by the UK management press in 2005:
"Paradoxically, the economies of the bygone era had inculcated in most managers the models of scientific management based on deterministic control. However, in the new era of rapid pace of increasingly unpredictable change, such models of deterministic control would result in failures - particularly of large-scale systems. The challenge lies in trying to control what is uncontrollable. The emergence of the digital era with KM at its focus resulted in the 'perfect storm': managers trying to impose greater controls when such controls are either economically expensive to sustain and often even detrimental to the viability of the increasingly 'out-of-control' systems. The mechanistic thinking that served its purpose well during the industrial era seems to underlie many of the current failures of both IT and KM-based systems."
Prospective: Rethinking Risk Management for the 'New Finance'
In contrast to other paradigms of finance, accounting, and economics that inform our understanding, our research and practice focus on understanding systemic risks, extreme events, and, related models of controls and compliance as applicable to networked information and computational systems. Our specific and direct research focus on information and computational systems and corresponding collective social behaviors and performance within environments characterized by radical discontinuous change events have informed worldwide managerial practices over the past decade. It is in the context of understanding of radical discontinuous change events aka 'black swans' wherein financial economics theory and research and related global practices need to make crucial advancements in risk management for the new finance. Such advancements will be in terms of overcoming their apparent inability in predicting ‘critical events’ such as the global financial crisis and prescribing strategies for anticipating inherently 'unpredictable' future crises of global financial systems. |
Global RISK Management Networktm has its current focus on advancing worldwide risk management practices for global financial systems and capital markets. By 2005, our research focus on systemic failures and extreme events, recognized subsequently for its impact on actual practice by the AACSB International in 2008, had advanced to make us ponder about a possible forthcoming systemic failure of the global finance systems. The rest is history. For instance, in the same interview with the UK management press mentioned above, we had made the following observations:
"Interestingly, a review of best-selling literature on successful practices in one of the most technical, numbers driven, globally popular area of financial markets provides some perspective about managing information in most unpredictable, radically changing environments that defy prediction, pre-determination and control. Despite the recognized importance of fundamental, technical, structural, and human aspects of such practices, it is well recognized that in the final analysis human elements often determine the sustained success or failure in such environments. Interestingly, such environments that defy prediction and control are also characterized by a virtual absence of rules as most rules are defined, applied and used through subjective interpretations by specific players in the game." "On one hand, human aspects characterize the hallmark of the necessary focus and discipline required for sustained success in such highly information-intensive environments often characterized by unpredictable, radical and discontinuous changes. However, on the other hand, the same human aspects of hope and fear - regardless of prior history of experience and expertise - result in elimination of more than 90 percent of players within less than a year. Also, most successful practitioners in such high velocity and hyper-turbulent information-intensive environments recognize the insurmountable challenges posed by command and control stereotypes that characterize less information intensive jobs and professions of the industrial economy."
Radical Discontinuous Change, Extreme Events, and, Black Swans
Global RISK Management Network is the champion of business and technology
management practices relevant to the brave new world of business, also
described as a world of radical discontinuous change events now popularly known as 'black swans'. In hindsight, Global RISK Management Network’s vision at the time of its founding about today's world unfolding more than a decade later seems to have been prophetic as apparent from its original welcome statement:
"[Global RISK Management Network] is the champion of business and
technology management practices relevant to the brave new world of
business, also described as a world of radical discontinuous change.
This world full of continuous surprises of unforeseen dimensions and change of uncharted scale is characterized by evolving models of work,
workplaces, business enterprises, institutions, and other formal and
informal organizations. This is the world in which the success formulas
and best practices of yesterday could become failure traps of tomorrow and
enterprises that were Goliaths of yesterday may become dinosaurs of
tomorrow. Until this point, you may have read about this new world in
some of the popular books on business transformation, change
management, knowledge management and e-business. Welcome to the marketspace where this world is being charted, understood, defined and practiced... welcome to the new world of business!!"
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Earlier, Global RISK Management Network served as the world's epicenter from which two other new technology management disciplines were adopted across all countries of the world over the past decade. Having made recognized fundamental and applied contributions to the advancement of global managerial practices on the first three generations of systemic risk management relevant to Business Technology Management, e-Business, and, Knowledge Management, the current focus of our research and practice is on Financial Risk Management.
After the turn of the last century,
this digital social enterprise has been probably most recognized for developing and disseminating worldwide its basic and applied understanding of Knowledge Management as a discipline of detecting and pre-empting risks of systemic failures for increasingly unpredictable and complex business environments. Global RISK Management Network was earlier founded as BRINT (short for Business Research in Information and Technology) Institute
www.brint.org originally conceived to bridge the gaps between business and
technology, data and knowledge, and, theory and practice, "an ambitious undertaking", as reported by a Fortune cover story on the knowledge economy. For more than a decade, Global RISK Management Network
has serviced the learning, networking, and professional growth needs of
millions of users on average in any given month.
Instead of remaining stuck in the
obsolescent paradigm of 'IT' "for managing 'data' and 'information'", this digital research enterprise represented a significant departure from the prevailing textbook focus of most Information Systems and Information Science disciplines by
its choice to focus on managing what [we believe] really matters - change, uncertainty, and complexity. On the dawn of the global financial crisis, our long-term perspective on radical discontinuous change events was brought into mainstream focus in terms of extreme events and ‘black swans’ more than a decade after we published the first influential research paper on this subject. Related research published across multiple influential books, and, journal and conference papers underlying this paradigm was influenced by the thinking of founding philosophers of Information Systems and Operations Research such as Russell L. Ackoff, Charles West Churchman, Herbert A. Simon, and, Norbert Wiener; economists and complexity theorists of self-adaptive complex systems at the Santa Fe Institute such as Brian Arthur, Paul Romer, and John Holland (the father of genetic algorithms); and, strategists such as Steven Kerr, CLO and Vice President of leadership development at GE and subsequently CLO and Managing Director at Goldman Sachs. The original concept of the real-life instantiation of the forerunner of FinRM™ as “The Knowledge Creating Company™” was influenced by the book of the same name by Ikujiro Nonaka.
Retrospective: Beyond Systemic Failures From
Uncertainty and Complexity
This venture laid the foundation of the Business Technology Management discipline through the launch of "The BizTech Network"
content portals followed soon by a virtual global community of practice
spanning all countries of the world. Through those technology ventures, we pioneered the development of focused understanding about new information technologies in the context
of business management and business performance for increasingly
complex and uncertain environments. To
advance beyond the persistent 70%-80% failure rate of computational systems despite increasing sophistication of IT,
we developed the foundational basis of Knowledge Management as a discipline of systemic risk management for business environments characterized by radical discontinuous change events. (In the aftermath of the global financial crisis of 2008, such highly improbable events have been popularized as 'black swans.') This functional paradigm is most widely published and referenced in basic and applied literature on Knowledge Management given its focus on holistic (based on 'systems thinking') and dynamic (based on 'system dynamics') understanding about the people-process-technology
relationships for systemic performance. It squarely addresses the integration of people and process
aspects that are critical for realizing the success of computational
technologies in a radically changing world. The foundation of the systemic risk management focus on knowledge management
was further reinforced through our creation of the world’s first
content and community portals on Knowledge Management.
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How the Global RISK Management Network™ Can Help You:
Quick Menu of Services
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Our world renowned contributions to advancing global managerial research and practices are distinguished by a global track record of original intellectual thought leadership. As evident from published public records, editorial reviews of our social enterprise driven applied research and practices have appeared in...
among other worldwide media sources such as...
"Tool for raising your company's IQ..." - Forbes
"What every CEO should know..." - Business Week
"Best business information source..." - Business Week
"A practical guidepost..." - Chief Executive
"Thumbs up for this serious surfer's tool useful for managers..."
- Fortune
"Contemporary business management and technology issues..." - Wall Street Journal
"Pool of largest collection of knowledge management literature..." - Wall Street Journal
"One of the best HR sites on the Internet..."
- Wall Street Journal: Career Journal
"Complexity theory made easy..." - Wall Street Journal
"Invaluable for applying complexity theory to business management..." - New York Times
"First on the list for in-depth sites for company and industry research..." - San Jose Mercury News
"If [this site] doesn't have it, then you probably don't need it..." - Fast Company
"Best source for knowledge management and intellectual capital..." - Fast Company
"Best site for information technology and business information..." - Computerworld
"Wealth of incredibly rich, useful and interesting information..." - CIO Magazine
"Unparalleled in depth and relevance for business research..." - Information Week
"Best web site for keeping up with hi-tech industry developments..." - InfoWorld
"Best web site on the topic of knowledge management..." - InfoWorld
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