Risk management at board level: a practical guide for board members

isk Management today has moved from being the topic of top level conferences and media discussions to being a permanent issue in the board and top management agenda. Several new directives and regulations in Switzerland, Germany and EU make it obligatory for the firms to have a risk management strategy and transparently disclose the risk management process to their stakeholders. Shareholders, insurance providers, banks, media, analysts, employees, suppliers and other stakeholders expect the board members to be pro-active in knowing the critical risks facing their organization and provide them with a reasonable assurance vis-à-vis the management of those risks. In this environment however, the lack of standards and training opportunities makes this task difficult for board members. This book with the help of real life examples, analysis of drivers, interpretation of the Swiss legal requirements, and information based on international benchmarks tries to reach out to the forward looking leaders of today's businesses. The authors have collectively brought their years of scientific and practical experience in risk management, Swiss law and board memberships together to provide the board members practical solutions in risk management. The desire is that this book will clear the fear regarding risk management from the minds of the company leadership and help them in making risk savvy decisions in quest to achieve their strategic objectives.

The asymmetrical influence of increasing time-on-task on attentional disengagement

Increasing time-on-task leads to fatigue and, as shown by previous research, differentially affects the deployment of visual attention towards the left and the right visual space. In healthy participants, an increasing rightward bias is commonly observed with increasing time-on-task. Yet, it is unclear whether specific mechanisms involved in the spatial deployment of visual attention are differentially affected by increasing time-on-task. The aim of the present study was to investigate whether prolonged time-on-task would affect a specific mechanism of visuo-spatial attentional deployment, namely attentional disengagement, in an asymmetrical fashion. For this purpose, we administered to healthy participants a prolonged gap/overlap saccadic paradigm, with left- and right-sided target stimuli. This oculomotor paradigm allowed to quantify disengagement costs according to the direction of the subsequent attentional shifts, and to evaluate the temporal development of disengagement costs with increasing time-on-task. Our results show that, with increasing time-on-task, participants demonstrated significantly lower disengagement costs for rightward compared to leftward saccades. These effects were specific, since concurring side differences of saccadic latencies were found for overlap trials (requiring attentional disengagement), but not for gap trials (requiring no or less attentional disengagement). Moreover, the results were paralleled by a non-lateralised decrease in saccadic peak velocity with increasing time-on-task, a common finding indicating an increasing level of fatigue. Our findings support the idea that non-spatial attentional aspects, such as fatigue due to increasing time-on-task, can have a substantial influence on the spatial deployment of visual attention, in particular on its disengagement, depending on the direction of the subsequent attentional shift.