"In that is the definition of resiliency: Setting good strategy, using good risk management and learning from when things wrong to adjust strategy to survive and thrive," said Christopher Palm of The Institute of Risk Management South Africa. (Credit: Fred Ho Yeow Hui)

Value destruction arises from misses and mistakes undertaken by businesses. However, those two words don't represent just the threats risk managers must take into account but also highlight opportunities not taken, according to Christopher Palm, chief risk advisor for The Institute of Risk Management South Africa.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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