Bhubaneswar: A three day management development program on ‘Enterprise Risk Management: Challenges & Opportunities’ was organised at International Management Institute (IMI), Bhubaneswar. On the inaugural session of the programme Prof. Ramesh Behl, Director of the Institute spoke on the importance of the risk management in the present day emerging corporate scenarios. He also mentioned that since the inception of IMI-B, it has been successfully organising MDPs where about eight hundred executives are so far trained. It has been recognised as an Emerging Business school by the most reputed rating and ranking agencies. Along with its dedicated teaching service in the field of post graduate management education both for regular students and working executives, it has been excellently working in the field of research, consultancy & interaction with the corporate leaders.
Addressing the participants in the inaugural programme, Prof. Arun Kumar Rath spoke that risk management is one of the most emerging issue in the present day corporate scenario as per guidelines of the regulating bodies to safe guard the interest of the shareholders and investors. Citing some examples from his rich corporate experience, Mr. S.C. Padhy, Director-HR, NALCO opined that risk management has a vital role for sustenance of the enterprise against any unforeseen loss. Inaugurating the program Mr. A. N. Sahay, CMD of Mahanadi Coalfields Ltd. spoke on various risks by his and steps to face the challenges. Prof. Stuart Locke from University of Waikato , New Zealand expressed that as risk is unforeseen & can come at any point of time and therefore we have to manage and combat it effectively.
This mega event is aimed at capacity building of senior executives of corporate enterprises to the growing need of integrated risk management into the corporate governance framework. There is growing need of integrated risk management into corporate decision making for long term sustainability of business corporations. Shareholders and investors expect every public company to adopt global standards of risk management in their decision making process to safeguard their investments and the companies’ assets from the uncertainties of future. The regulators world over, including the Indian regulator SEBI, have emphasized on the given need and made it a compulsory part of the listing agreement. On the valedictory session Mr. P.C. Panigrahi, Director-HR, Mahanadi Coalfields Ltd spoke and handed over certificates to the participants. In view of the importance of the topic 49 senior executives from fifteen companies all over India had participated in this management development programme.