Cultural competence

As firms foray into the emerging markets seeking growth opportunities, they need to be aware of the risks posed by cultural differences. Judith Graham looks at the ways workplace cultures differ across the globe, and how firms should adjust their operational risk practices to address this diversity

There are two ways of looking at the cultural aspects of operational risk: the cultural risks facing organisations operating across multiple locations and geographies, and the cultural challenges of implementing enterprise-wide operational risk management.

This article examines both these aspects and the challenges they create for an organisation wishing to expand its operations into new markets