Managing corporate risk through better knowledge management

To explain how progressive companies are using a combination of knowledge and risk management (KRM) systems and techniques in order to help them to prevent, or respond most effectively to, ethical or reputation‐damaging incidents.

The paper explains KRM, develops a corporate integrity framework, and then explores how the KRM process component of the framework is related to the use of knowledge management (KM)‐related procedures, techniques, and tools in use in many corporations.

In many forward‐looking corporations KM procedures, techniques and tools are being used to perform risk management. KRM, the integration of knowledge and risk management, is alive and well and, given the global importance of risk management, may provide KM with a much‐needed and revitalizing boost.

The value of the KRM perspective is its development of a new and comprehensive application of KM to the vital global corporate need of risk management.