As the old saying goes, “If the only tool you have is a hammer, everything looks like a nail”. Where did this saying originate and what does it refer to? The phrase is commonly referred to as Maslow’s Hammer and attributed to the famous psychologist of the 20th century, Abraham Maslow. How applicable is this to us as Enterprise Risk Management Professionals? What did Maslow teach us that is useful in this day and age? Are there other Maslow teachings that apply to the risk discipline overall and the expanding or evolving risk landscape in particular (e.g., cyber)? There are, and it comes solidly in the form of Maslow’s Hierarchy of Needs – a developmental psychology that has strong applicability to our world as risk practitioners.
This presentation will focus on Enterprise Risk Management (ERM) holistically, with a focus on the need to approach risk management with the proper balance across the various risk disciplines within the organization, leveraging Maslow, and with an emphasis on cyber risk. Without question, risk in the cyber space has been on the front burner for quite a while now. It is irresponsible as a risk professional in this day and age to not have the cyber landscape and specifically cyber threats on your first-level radar and we will examine this risk through a whole different lens.