Although risk management is the responsibility of entire organization but as always there is single responsible person who is leading the initiative and monitoring it; that person is Risk Manager.Analogy to understand this role is that Risk Manager is the person who sits next to the driver (CEO) of the vehicle (organization). Job of this person is to forewarn driver about the humps or detours on the way and suggesting counter measures to overcome the problem.
Risk analysis and control is one of the key areas of management. However, due to some reason risk management somehow has not been core component of marketing practices. Although other field of studies such as project management, business analysis and Information technology has been implementing risk management principles with full spirit and zeal. Thus, in this blog post we will try to look at some of the famous failures in marketing initiatives, then we try to examine the problems and finally we will conclude with recommendations to overcome this dilemma of lack of integration of Risk management with digital marketing.
It may indeed be true to say, that cyberspace will make written words on paper redundant in times to come; this subject, however, requires further analysis. Most of the people have started claiming that cutting-edge technology will become the principle source of information, thus making books obsolete. Contrariwise, few refute this argument on medical and financial grounds. In this blog, we will put more deliberation on both arguments before arriving to reasoned conclusion.