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cedarroseuae · 3 months ago

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Comprehensive Guide to Business Risk Management and Data Intelligence Solutions

In today’s business environment, organizations must be proactive about risk management to ensure long-term success and sustainability. This includes various facets such as Third-Party Risk Management (TPRM), Integrity Risk Management, and Reputational Risk Management. By implementing robust strategies to mitigate risks, businesses can navigate complex challenges while safeguarding their operations, reputation, and data.

Business Risk Management

Business risk management refers to identifying, assessing, and addressing potential risks that could harm a company’s operations. These risks can stem from various sources including economic downturns, regulatory changes, technological disruptions, or natural disasters. An effective risk management strategy is essential for companies to maintain operational continuity and protect their bottom line.

The key to successful business risk management is developing a comprehensive risk framework that considers internal and external risks. By implementing proactive strategies and using risk assessment tools, businesses can anticipate challenges and develop plans to address them before they escalate.

Third-Party Risk Management Policy

Third-party relationships are integral to many businesses today, but they can introduce significant risks. Third-Party Risk Management (TPRM) involves assessing and managing the risks associated with outsourcing, supplier contracts, and vendor relationships. A Third-Party Risk Management Policy ensures that businesses carefully evaluate their third parties to mitigate potential risks such as operational disruptions, financial instability, and data security breaches.

A strong third-party policy includes vendor assessments, monitoring, and regular audits. By working with trusted due diligence partners such as Cedar Rose, companies can ensure they are working with reliable third-party providers who adhere to the highest standards of compliance and ethical practices.

Integrity Risk Management

Integrity Risk Management focuses on ensuring that a company’s operations align with ethical standards and regulatory requirements. This includes evaluating potential risks related to fraud, corruption, legal non-compliance, and internal misconduct. Maintaining high standards of integrity is critical for a company’s long-term reputation and legal standing.

An organization with a comprehensive integrity risk management strategy can identify warning signs early and take corrective action before significant damage occurs. This includes implementing internal policies for employee conduct, conducting background checks, and performing regular audits to ensure compliance with industry regulations.

Reputational Risk Management

A company’s reputation is one of its most valuable assets. Reputational Risk Management refers to strategies aimed at protecting a business’s public image, brand, and stakeholder trust. Negative publicity, customer dissatisfaction, or unethical behavior can harm a company’s reputation, leading to a loss of customers, reduced revenue, and legal consequences.

Reputation risk management involves monitoring public sentiment, responding to crises promptly, and engaging with customers and the media transparently. Organizations that prioritize reputational risk management can better control how they are perceived and take proactive steps to resolve issues before they escalate.

Data Licensing and Data Solutions

Data licensing is becoming increasingly important as businesses navigate a world that’s driven by data. Data licensing involves obtaining permission to use, share, or distribute specific sets of data for various purposes, such as market research, business analytics, or product development. It’s crucial for businesses to ensure that they comply with legal and regulatory requirements when acquiring and using data from third-party sources.

With the growing importance of data, companies are turning to data intelligence solutions to gain insights and drive decisions. Data intelligence involves the use of advanced analytics, artificial intelligence (AI), and machine learning to extract valuable insights from large data sets. These insights can be used to enhance business operations, improve customer experiences, and mitigate risks.

Cedar Rose's Role in Risk Management and Data Solutions

Cedar Rose, a trusted partner in due diligence and risk management, offers a comprehensive range of services that assist businesses in managing third-party risks, integrity risks, and data intelligence needs. Their due diligence services help businesses perform thorough background checks on potential partners, vendors, and clients. With access to global data and a focus on compliance, Cedar Rose ensures that companies are working with trustworthy entities that align with their values and business objectives.

Cedar Rose’s solutions also support data licensing, ensuring that companies comply with regulations while leveraging data for strategic advantage. Their expertise in data intelligence allows businesses to harness the power of data for informed decision-making, offering solutions tailored to specific industries and business needs.

Conclusion

In conclusion, business risk management is a critical aspect of organizational success. By incorporating strategies for third-party risk management, integrity risk management, and reputational risk management, businesses can effectively mitigate threats and protect their long-term viability. Additionally, embracing data intelligence and data licensing offers a competitive edge and empowers organizations to make informed decisions. Partnering with experts like Cedar Rose ensures that businesses stay ahead of risks while leveraging data-driven insights to thrive in a dynamic market.

For more information on how Cedar Rose can help with due diligence and risk management, visit their Due Diligence...........

#Business Risk Management #Third Party Risk Management Policy #Integrity Risk Management #Reputational Risk Management #Data licensing #Data Intelligence #Data solutions

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mostlysignssomeportents · 2 years ago

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Linkty Dumpty

I was supposed to be on vacation, and while I didn’t do any blogging for a month, that didn’t mean that I stopped looking at my distraction rectangle and making a list of things I wanted to write about. Consequentially, the link backlog is massive, so it’s time to declare bankruptcy with another linkdump:

https://pluralistic.net/tag/linkdump/

[Image ID: John Holbo’s ‘trolley problem’ art, a repeating pattern of trolleys, tracks, people on tracks, and people standing at track switches]++

Let’s kick things off with a little graphic whimsy. You’ve doubtless seen the endless Trolley Problem memes, working from the same crude line drawings? Well, philosopher John Holbo got tired of that artwork, and he whomped up a fantastic alternative, which you can get as a poster, duvet, sticker, tee, etc:

https://www.redbubble.com/shop/ap/145078097

The trolley problem has been with us since 1967, but it’s enjoying a renaissance thanks to the insistence of “AI” weirdos that it is very relevant to our AI debate. A few years back, you could impress uninformed people by dropping the Trolley Problem into a discussion:

https://memex.craphound.com/2016/10/25/mercedes-weird-trolley-problem-announcement-continues-dumb-debate-about-self-driving-cars/

Amazingly, the “AI” debate has only gotten more tedious since the middle of the past decade. But every now and again, someone gets a stochastic parrot to do something genuinely delightful, like the Jolly Roger Telephone Company, who sell chatbots that will pretend to be tantalyzingly confused marks in order to tie up telemarketers and waste their time:

https://jollyrogertelephone.com/

Jolly Roger sells different personas: “Whitebeard” is a confused senior who keeps asking the caller’s name, drops nonsequiturs into the conversation, and can’t remember how many credit-cards he has. “Salty Sally” is a single mom with a houseful of screaming, demanding children who keep distracting her every time the con artist is on the verge of getting her to give up compromising data. “Whiskey Jack” is drunk:

https://www.wsj.com/articles/people-hire-phone-bots-to-torture-telemarketers-2dbb8457

The bots take a couple minutes to get the sense of the conversation going. During that initial lag, they have a bunch of stock responses like “there’s a bee on my arm, but keep going,” or grunts like “huh,” and “uh-huh.” The bots can keep telemarketers and scammers on the line for quite a long time. Scambaiting is an old and honorable vocation, and it’s good that it has received a massive productivity gain from automation. This is the AI Dividend I dream of.

The less-fun AI debate is the one over artists’ rights and tech. I am foresquare for the artists here, but I think that the preferred solutions (like creating a new copyright over the right to train a model with your work) will not lead to the hoped-for outcome. As with other copyright expansions — 40 years’ worth of them now — this right will be immediately transferred to the highly concentrated media sector, who will simply amend their standard, non-negotiable contracting terms to require that “training rights” be irrevocably assigned to them as a condition of working.

The real solution isn’t to treat artists as atomic individuals — LLCs with an MFA — who bargain, business-to-business, with corporations. Rather, the solutions are in collective power, like unions. You’ve probably heard about the SAG-AFTRA actors’ strike, in which creative workers are bargaining as a group to demand fair treatment in an age of generative models. SAG-AFTRA president Fran Drescher’s speech announcing the strike made me want to stand up and salute:

https://www.youtube.com/watch?v=J4SAPOX7R5M

The actors’ strike is historic: it marks the first time actors have struck since 2000, and it’s the first time actors and writers have co-struck since 1960. Of course, writers in the Writers Guild of America (West and East) have been picketing since since April, and one of their best spokespeople has been Adam Conover, a WGA board member who serves on the negotiating committee. Conover is best known for his stellar Adam Ruins Everything comedy-explainer TV show, which pioneered a technique for breaking down complex forms of corporate fuckery and making you laugh while he does it. Small wonder that he’s been so effective at conveying the strike issues while he pickets.

Writing for Jacobin, Alex N Press profiles Conover and interviews him about the strike, under the excellent headline, “Adam Pickets Everything.” Conover is characteristically funny, smart, and incisive — do read:

https://jacobin.com/2023/07/adam-conover-wga-strike

Of course, not everyone in Hollywood is striking. In late June, the DGA accepted a studio deal with an anemic 41% vote turnout:

https://www.theverge.com/2023/6/26/23773926/dga-amptp-new-deal-strike

They probably shouldn’t have. In this interview with The American Prospect’s Peter Hong, the brilliant documentary director Amy Ziering breaks down how Netflix and the other streamers have rugged documentarians in a classic enshittification ploy that lured in filmmakers, extracted everything they had, and then discarded the husks:

https://prospect.org/culture/2023-06-21-drowned-in-the-stream/

Now, the streaming cartel stands poised to all but kill off documentary filmmaking. Pressured by Wall Street to drive high returns, they’ve become ultraconservative in their editorial decisions, making programs and films that are as similar as possible to existing successes, that are unchallenging, and that are cheap. We’ve gone directly from a golden age of docs to a dark age.

In a time of monopolies, it’s tempting to form countermonopolies to keep them in check. Yesterday, I wrote about why the FTC and Lina Khan were right to try to block the Microsoft/Activision merger, and I heard from a lot of people saying this merger was the only way to check Sony’s reign of terror over video games:

https://pluralistic.net/2023/07/14/making-good-trouble/#the-peoples-champion

But replacing one monopolist with another isn’t good for anyone (except the monopolists’ shareholders). If we want audiences and workers — and society — to benefit, we have to de-monopolize the sector. Last month, I published a series with EFF about how we should save the news from Big Tech:

https://www.eff.org/deeplinks/2023/04/saving-news-big-tech

After that came out, the EU Observer asked me to write up version of it with direct reference to the EU, where there are a lot of (in my opinion, ill-conceived but well-intentioned) efforts to pry Big Tech’s boot off the news media’s face. I’m really happy with how it came out, and the header graphic is awesome:

https://euobserver.com/opinion/157187

De-monopolizing tech has become my life’s work, both because tech is foundational (tech is how we organize to fight over labor, gender and race equality, and climate justice), and because tech has all of these technical aspects, which open up new avenues for shrinking Big Tech, without waiting decades for traditional antitrust breakups to run their course (we need these too, though!).

I’ve written a book laying out a shovel-ready plan to give tech back to its users through interoperability, explaining how to make new regulations (and reform old ones), what they should say, how to enforce them, and how to detect and stop cheating. It’s called “The Internet Con: How To Seize the Means of Computation” and it’s coming from Verso Books this September:

https://www.versobooks.com/products/3035-the-internet-con

[Image ID: The cover of the Verso Books hardcover of ‘The Internet Con: How to Seize the Means of Computation]

I just got my first copy in the mail yesterday, and it’s a gorgeous little package. The timing was great, because I spent the whole week in the studio at Skyboat Media recording the audiobook — the first audiobook of mine that I’ve narrated. It was a fantastic experience, and I’ll be launching a Kickstarter to presell the DRM-free audio and ebooks as well as hardcovers, in a couple weeks.

Though I like doing these crowdfunders, I do them because I have to. Amazon’s Audible division, the monopolist that controls >90% of the audiobook market, refuses to carry my work because it is DRM-free. When you buy a DRM-free audiobook, that means that you can play it on anyone’s app, not just Amazon’s. Every audiobook you’ve ever bought from Audible will disappear the moment you decide to break up with Amazon, which means that Amazon can absolutely screw authors and audiobook publishers because they’ve taken our customers hostage.

If you are unwise enough to pursue an MBA, you will learn a term of art for this kind of market structure: it’s a “moat,” that is, an element of the market that makes it hard for new firms to enter the market and compete with you. Warren Buffett pioneered the use of this term, and now it’s all but mandatory for anyone launching a business or new product to explain where their moat will come from.

As Dan Davies writes, these “moats” aren’t really moats in the Buffett sense. With Coke and Disney, he says, a “moat” was “the fact that nobody else could make such a great product that everyone wanted.” In other words, “making a good product,” is a great moat:

https://backofmind.substack.com/p/stuck-in-the-moat

But making a good product is a lot of work and not everyone is capable of it. Instead, “moat” now just means some form of lock in. Davies counsels us to replace “moat” with:

our subscription system and proprietary interface mean that our return on capital is protected by a strong Berlin Wall, preventing our customers from getting out to a freer society and forcing them to consume our inferior products for lack of alternative.

I really like this. It pairs well with my 2020 observation that the fight over whether “IP” is a meaningful term can be settled by recognizing that IP has a precise meaning in business: “Any policy that lets me reach beyond the walls of my firm to control the conduct of my competitors, critics and customers”:

https://locusmag.com/2020/09/cory-doctorow-ip/

To see how that works in the real world, check out “The Anti-Ownership Ebook Economy,” a magisterial piece of scholarship from Sarah Lamdan, Jason M. Schultz, Michael Weinberg and Claire Woodcock:

https://www.nyuengelberg.org/outputs/the-anti-ownership-ebook-economy/

Something happened when we shifted to digital formats that created a loss of rights for readers. Pulling back the curtain on the evolution of ebooks offers some clarity to how the shift to digital left ownership behind in the analog world.

The research methodology combines both anonymous and named sources in publishing, bookselling and librarianship, as well as expert legal and economic analysis. This is an eminently readable, extremely smart, and really useful contribution to the scholarship on how “IP” (in the modern sense) has transformed books from something you own to something that you can never own.

The truth is, capitalists hate capitalism. Inevitably, the kind of person who presides over a giant corporation and wields power over millions of lives — workers, suppliers and customers — believes themselves to be uniquely and supremely qualified to be a wise dictator. For this kind of person, competition is “wasteful” and distracts them from the important business of making everyone’s life better by handing down unilateral — but wise and clever — edits. Think of Peter Thiel’s maxim, “competition is for losers.”

That’s why giant companies love to merge with each other, and buy out nascent competitors. By rolling up the power to decide how you and I and everyone else live our lives, these executives ensure that they can help us little people live the best lives possible. The traditional role of antitrust enforcement is to prevent this from happening, countering the delusions of would-be life-tenured autocrats of trade with public accountability and enforcement:

https://marker.medium.com/we-should-not-endure-a-king-dfef34628153

Of course, for 40 years, we’ve had neoliberal, Reaganomics-poisoned antitrust, where monopolies are celebrated as “efficient” and their leaders exalted as geniuses whose commercial empires are evidence of merit, not savagery. That era is, thankfully, coming to an end, and not a moment too soon.

Leading the fight is the aforementioned FTC chair Lina Khan, who is taking huge swings at even bigger mergers. But the EU is no slouch in this department: they’re challenging the Adobe/Figma merger, a $20b transaction that is obviously and solely designed to recapture customers who left Adobe because they didn’t want to struggle under its yoke any longer:

https://gizmodo.com/adobe-figma-acquisition-likely-to-face-eu-investigation-1850555562

For autocrats of trade, this is an intolerable act of disloyalty. We owe them our fealty and subservience, because they are self-evidently better at understanding what we need than we could ever be. This unwarranted self-confidence from the ordinary mediocrities who end up running giant tech companies gets them into a whole lot of hot water.

One keen observer of the mind-palaces that tech leaders trap themselves in is Anil Dash, who describes the conspiratorial, far-right turn of the most powerful men (almost all men!) in Silicon Valley in a piece called “‘VC Qanon’ and the radicalization of the tech tycoons”:

https://www.anildash.com/2023/07/07/vc-qanon/

Dash builds on an editorial he published in Feb, “The tech tycoon martyrdom charade,” which explores the sense of victimhood the most powerful, wealthiest people in the Valley project:

https://www.anildash.com/2023/02/27/tycoon-martyrdom-charade/

These dudes are prisoners of their Great Man myth, and leads them badly astray. And while all of us are prone to lapses in judgment and discernment, Dash makes the case that tech leaders are especially prone to it:

Nobody becomes a billionaire by accident. You have to have wanted that level of power, control and wealth more than you wanted anything else in your life. They all sacrifice family, relationships, stability, community, connection, and belonging in service of keeping score on a scale that actually yields no additional real-world benefits on the path from that first $100 million to the tens of billions.

This makes billionaires “a cohort that is, counterintutively, very easily manipulated.” What’s more, they’re all master manipulators, and they all hang out with each other, which means that when a conspiratorial belief takes root in one billionaire’s brain, it spreads to the rest of them like wildfire.

Then, billionaires “push each other further and further into extreme ideas because their entire careers have been predicated on the idea that they’re genius outliers who can see things others can’t, and that their wealth is a reward for that imagined merit.”

They live in privileged bubbles, which insulates them from disconfirming evidence — ironic, given how many of these bros think they are wise senators in the agora.

There are examples of billionaires’ folly all around us today, of course. Take privacy: the idea that we can — we should — we must — spy on everyone, all the time, in every way, to eke out tiny gains in ad performance is objectively batshit. And yet, wealthy people decreed this should be so, and it was, and made them far richer.

Leaked data from Microsoft’s Xandr ad-targeting database reveals how the commercial surveillance delusion led us to a bizarre and terrible place, as reported on by The Markup:

https://themarkup.org/privacy/2023/06/08/from-heavy-purchasers-of-pregnancy-tests-to-the-depression-prone-we-found-650000-ways-advertisers-label-you

The Markup’s report lets you plumb 650,000 targeting categories, searching by keyword or loading random sets, 20 at a time. Do you want to target gambling addicts, people taking depression meds or Jews? Xandr’s got you covered. What could possibly go wrong?

The Xandr files come from German security researcher Wolfie Christl from Cracked Labs. Christi is a European, and he’s working with the German digital rights group Netzpolitik to get the EU to scrutinize all the ways that Xandr is flouting EU privacy laws.

Billionaires’ big ideas lead us astray in more tangible ways, of course. Writing in The Conversation, John Quiggin asks us to take a hard look at the much ballyhooed (and expensively ballyhooed) “nuclear renaissance”:

https://theconversation.com/dutton-wants-australia-to-join-the-nuclear-renaissance-but-this-dream-has-failed-before-209584

Despite the rhetoric, nukes aren’t cheap, and they aren’t coming back. Georgia’s new nuclear power is behind schedule and over budget, but it’s still better off than South Carolina’s nukes, which were so over budget that they were abandoned in 2017. France’s nuke is a decade behind schedule. Finland’s opened this year — 14 years late. The UK’s Hinkley Point C reactor is massively behind schedule and over budget (and when it’s done, it will be owned by the French government!).

China’s nuclear success story also doesn’t hold up to scrutiny — they’ve brought 50GW of nukes online, sure, but they’re building 95–120GW of solar every year.

Solar is the clear winner here, along with other renewables, which are plummeting in cost (while nukes soar) and are accelerating in deployments (while nukes are plagued with ever-worsening delays).

This is the second nuclear renaissance — the last one, 20 years ago, was a bust, and that was before renewables got cheap, reliable and easy to manufacture and deploy. You’ll hear fairy-tales about how the early 2000s bust was caused by political headwinds, but that’s simply untrue: there were almost no anti-nuke marches then, and governments were scrambling to figure out low-carbon alternatives to fossil fuels (this was before the latest round of fossil fuel sabotage).

The current renaissance is also doomed. Yes, new reactors are smaller and safer and won’t have the problems intrinsic to all megaprojects, but designs like VOYGR have virtually no signed deals. Even if they do get built, their capacity will be dwarfed by renewables — a Gen III nuke will generate 710MW of power. Globally, we add that much solar every single day.

And solar power is cheap. Even after US subsidies, a Gen III reactor would charge A$132/MWh — current prices are as low as A$64-$114/MWh.

Nukes are getting a charm offensive because wealthy people are investing in hype as a way of reaping profits — not as a way of generating safe, cheap, reliable energy.

Here in the latest stage of capitalism, value and profit are fully decoupled. Monopolists are shifting more and more value from suppliers and customers to their shareholders every day. And when the customer is the government, the depravity knows no bounds. In Responsible Statecraft, Connor Echols describes how military contractors like Boeing are able to bill the Pentagon $52,000 for a trash can:

https://responsiblestatecraft.org/2023/06/20/the-pentagons-52000-trash-can/

Military Beltway Bandits are nothing new, of course, but they’ve gotten far more virulent since the Obama era, when Obama’s DoD demanded that the primary contractors merge to a bare handful of giant firms, in the name of “efficiency.” As David Dayen writes in his must-read 2020 book Monopolized, this opened the door to a new kind of predator:

https://pluralistic.net/2021/01/29/fractal-bullshit/#dayenu

The Obama defense rollups were quickly followed by another wave of rollups, these ones driven by Private Equity firms who cataloged which subcontractors were “sole suppliers” of components used by the big guys. These companies were all acquired by PE funds, who then lowered the price of their products, selling them below cost.

This maximized the use of those parts in weapons and aircraft sold by primary contractors like Boeing, which created a durable, long-lasting demand for fresh parts for DoD maintenance of its materiel. PE-owned suppliers hits Uncle Sucker with multi-thousand-percent markups for these parts, which have now wormed their way into every corner of the US arsenal.

Yes, this is infuriating as hell, but it’s also so grotesquely wrong that it’s impossible to defend, as we see in this hilarious clip of Rep Katie Porter grilling witnesses on US military waste:

https://www.youtube.com/watch?v=TJhf6l1nB9A

Porter pulls out the best version yet of her infamous white-board and makes her witnesses play defense ripoff Jepoardy!, providing answers to a series of indefensible practices.

It’s sure nice when our government does something for us, isn’t it? We absolutely can have nice things, and we’re about to get them. The Infrastructure Bill contains $42B in subsidies for fiber rollouts across the country, which will be given to states to spend. Ars Technica’s Jon Brodkin breaks down the state-by-state spending:

https://arstechnica.com/tech-policy/2023/06/us-allocates-42b-in-broadband-funding-find-out-how-much-your-state-will-get/

Texas will get $3.31B, California will get $1.86B, and 17 other states will get $1B or more. As the White House announcement put it, “High-speed Internet is no longer a luxury.”

To understand how radical this is, you need to know that for decades, the cable and telco sector has grabbed billions in subsidies for rural and underserved communities, and then either stole the money outright, or wasted it building copper networks that run at a fraction of a percent of fiber speeds.

This is how America — the birthplace of the internet — ended up with some of the world’s slowest, most expensive broadband, even after handing out tens of billions of dollars in subsidies. Those subsidies were gobbled up by greedy, awful phone companies — these ones must be spent wisely, on long-lasting, long-overdue fiber infrastructure.

That’s a good note to end on, but I’ve got an even better one: birds in the Netherlands are tearing apart anti-bird strips and using them to build their nests. Wonderful creatures 1, hostile architecture, 0. Nature is healing:

https://www.theguardian.com/science/2023/jul/11/crows-and-magpies-show-their-metal-by-using-anti-bird-spikes-to-build-nests

If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/07/15/in-the-dumps/#what-vacation

Next Tues, Jul 18, I'm hosting the first Clarion Summer Write-In Series, an hour-long, free drop-in group writing and discussion session. It's in support of the Clarion SF/F writing workshop's fundraiser to offer tuition support to students:

https://mailchi.mp/theclarionfoundation/clarion-write-ins

[Image iD: A dump-truck, dumping out a load of gravel. A caricature of Humpty Dumpty clings to its lip, restrained by a group of straining, Lilliputian men.]

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