Revered management thinker Peter Drucker wrote that 'above all, management is responsible for producing results. Management has to give direction to the institution it manages.' Leading an organisation to think about and act on risk and performance in an integrated way will no doubt face roadblocks. But, companies should focus first on a few key areas for integration and improvement. Start at strategy setting Integrating risk and performance management takes place at strategy setting. First, there must be a full C-suite consensus on clearly defined business objectives - whether strategic, financial, or operational. Once they've defined those objectives together, then they can start identifying the key risks that may present an opportunity to pursue those business objectives or impede their ability to achieve them. Sounds simple, doesn't it? But for many companies, that kind of risk-informed strategic plan begins gathering dust the minute the planning cycle ends. Each industry faces … [Read more...] about Part II: Managing Your Performance by Measuring Your Risks!
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VGP - PM Nguyen Tan Dung on Monday presented a Report on the socio-economic situation in 2013, results of the first three-year implementation of the five-year plan 2011-2015 and the tasks for 2014-2015 at the 6th session of the 13th National Assembly. The following is the translated version of the report: Leaders of the Party, State, and Fatherland Front of Viet Nam, Members of the National Assembly, Veteran Revolutionaries, Distinguished guests, Dear fellow citizens, On behalf of the Government, I have the honour to report to the National Assembly and fellow citizens about the socio-economic situation in 2013, results of the first three-year implementation of the five-year plan for 2011-2015 and the tasks for 2014-2015. Part I SOCIO-ECONOMIC SITUATION IN 2013, RESULTS OF THE FIRST THREE-YEAR IMPLEMENTATION OF THE FIVE- YEAR PLAN FOR 2011-2015 The targets and tasks stated in the 11th Party Congress Resolution for the five-year plan of 2011-2015 were developed amidst global … [Read more...] about Outcomes of socio-economic development in 2011-2013, tasks for 2014-2015
HA NOI (VNS)— Governor of the State Bank of Viet Nam (SBV) Nguyen Van Binh published a plan addressing directives from the prime minister to manage bad debts and create an asset management company. The prime minister's approval of the projects "Dealing with bad debts in the credit institutions' system" and "Establishing the Viet Nam Asset Management Company" was outlined in Decision 843/QD-TTg, dated May 31, 2013. Based on this, the SBV governor issued a plan to implement the necessary provisions (Document 8421/NHNN-TTGSNH), calling on credit institutions (CIs) to develop and implement plans to settle bad debts and improve credit quality within the 2013-15 period, as part of the overall plan to restructure credit institutions, according to the Viet Nam Business Forum. These changes remain in line with the spirit of the Government's plan to restructure the credit system. The governor's objective is to clear away the current bad debts, effectively control and enhance credit … [Read more...] about Credit institutions to shoulder burden of debt restructuring
Việt Nam’s banking system has focused intensely on tackling its non-performing loans (NPLs) over the past few years, following the PM’s five-year (2011-2015) plan to restructure the nation’s credit institutions as well as the recently approved Resolution 42. Despite this, NPL volumes remain high, undermining the safety and efficiency of financial institutions. Việt Nam News reporter Phương Uyên discusses various facets of the issue with Alwaleed Alatabani, Lead Financial Sector Specialist at the World Bank in Việt Nam. What do you think of Việt Nam’s approach to NPL resolution in recent years? Is it on the right path? I think there is a renewed focus on the issue of NPL sin Việt Nam at a critical time when we are seeing a lot of new legal … [Read more...] about Non-performing loans can weaken the banking system
GENEVA - The World Health Organisation on Wednesday held off from calling for travel restrictions related to the MERS virus striking Saudi Arabia as the kingdom braces for the Muslim hajj pilgrimage. In a statement following a session of the UN health agency's emergency committee - whose rarity underlined global concerns about MERS - the WHO said there was currently no reason to step up its level of alert. The meeting came amid mounting concern over the potential impact of the annual hajj in October, when millions of people will head to Islam's two holiest sites of Mecca and Medina, providing a possible means for MERS to spread around the globe. "It is the unanimous decision of the committee that, with the information now available, and using a risk-assessment approach, the conditions for a public health emergency of international concern have not at present been met," it said. The WHO's stance so far has been that countries should remain vigilant, monitoring unusual respiratory … [Read more...] about WHO holds off raising MERS alert level as Muslim hajj looms