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Surviving and Thriving in Uncertainty: Creating The Risk Intelligent Enterprise [Hardback]

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  • Formāts: Hardback, 368 pages, height x width x depth: 231x158x36 mm, weight: 567 g, Drawings: 15 B&W, 0 Color; Tables: 19 B&W, 0 Color
  • Izdošanas datums: 16-Apr-2010
  • Izdevniecība: John Wiley & Sons Inc
  • ISBN-10: 0470247886
  • ISBN-13: 9780470247884
  • Hardback
  • Cena: 36,55 €*
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  • Bibliotēkām
  • Formāts: Hardback, 368 pages, height x width x depth: 231x158x36 mm, weight: 567 g, Drawings: 15 B&W, 0 Color; Tables: 19 B&W, 0 Color
  • Izdošanas datums: 16-Apr-2010
  • Izdevniecība: John Wiley & Sons Inc
  • ISBN-10: 0470247886
  • ISBN-13: 9780470247884
A new book to help senior executives and boards get smart about risk management

The ability of businesses to survive and thrive often requires unconventional thinking and calculated risk taking. The key is to make the right decisions—even under the most risky, uncertain, and turbulent conditions.

In the new book, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise, authors Rick Funston and Steve Wagner suggest that effective risk taking is needed in order to innovate, stay competitive, and drive value creation.

Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, Funston and Wagner discuss the adoption of 10 essential and practical skills, which will improve agility, resilience, and realize benefits:

  • Challenging basic business assumptions can help identify "Black Swans" and provide first-mover advantage

  • Defining the corporate risk appetite and risk tolerances can help reduce

  • the risk of ruin. 
  • Anticipating potential causes of failure can improve chances of survival and success through improved preparedness. 
  • Factoring in velocity and momentum can improve speed of response and recovery. 
  • Verifying sources and the reliability of information can improve insights for decision making and thus decision quality. 
  • Taking a longer-term perspective can aid in identifying the potential unintended consequences of short-term decisions.

Recenzijas

"The authors propose a more holistic approach of "risk intelligence," in which leaders acknowledge and prepare for a wide range of potential threats. The authors isolate ten essential risk intelligence skills-such as abandoning familiar assumptions, anticipating causes of failure, and sustaining operational discipline-and provide in-depth guidelines for how executives and board members can hone these skills. They understand that there is no reward without risk - but only if the risks are properly managed." (BizEd, July/August 2010)

Acknowledgments xiii
Foreword xv
Preface xix
Introduction xxi
Conventional Risk Management xxi
A Risk Intelligent Approach xxii
The Approach of This Book xxiii
The Structure of This Book xxv
PART I WHEN RISKS BECOME BRUTAL REALITIES
1(50)
To Survive and Thrive: A Matter of Judgment
3(14)
The Revolving Door to the Corner Office
4(4)
Barriers to Board Effectiveness
8(3)
The Imperatives of the Enterprise
11(6)
Conventional Risk Management Has Failed
17(16)
What Goes Up Must Come Down
19(5)
The Evolution of Finance, Market, and Risk Management Theory
24(2)
Taking a (Random) Walk
26(7)
An Unconventional Approach to Risk Management
33(18)
Calculated Risk Taking Creates Value
35(9)
Calculated Risk Taking and Risk Aversion
44(2)
Risk Intelligence: An Unconventional Approach
46(5)
PART II TEN ESSENTIAL RISK INTELLIGENCE SKILLS
51(184)
Check Your Assumptions at the Door
53(20)
Fatal Flaw #1: Failing to Challenge Your Assumptions
55(6)
Risk Intelligence Skill #1: Check Your Assumptions at the Door
61(12)
Maintain Constant Vigilance
73(20)
Fatal Flaw #2: Lack of Vigilance
73(10)
Risk Intelligence Skill #2: Maintain Constant Vigilance
83(10)
Factor in Velocity and Momentum
93(18)
Fatal Flaw # 3: Failure to Consider Velocity and Momentum
95(6)
Risk Intelligence Skill #3: Factor in Velocity and Momentum
101(10)
Manage the Key Connections
111(20)
Fatal Flaw #4: Failure to Make Key Connections and Manage Complexity
112(5)
Risk Intelligence Skill #4: Manage Your Key Connections
117(14)
Anticipate Causes of Failure
131(18)
Fatal Flaw #5: Failure to Anticipate Failure
132(5)
Risk Intelligence Skill #5: Anticipate Causes of Failure
137(12)
Verify Sources and Corroborate Information
149(16)
Fatal Flaw #6: Failure to Verify Sources and Corroborate Information
150(8)
Risk Intelligence Skill # 6: Verify Sources and Corroborate Information
158(7)
Maintain a Margin of Safety
165(18)
Fatal Flaw #7: Failing to Maintain a Margin of Safety
166(4)
Risk Intelligence Skill #7: Maintain a Margin of Safety
170(13)
Set Your Enterprise Time Horizons
183(20)
Fatal Flaw #8: Short-Termism
184(6)
Risk Intelligence Skill #8: Set Your Enterprise Time Horizons
190(13)
Take Enough of the Right Risks
203(16)
Fatal Flaw #9: Failure to Take Enough of the Right Risks
204(4)
Risk Intelligence Skill #9: Taking Enough of the Right Risks
208(11)
Sustain Operational Discipline
219(16)
Case Example: The U.S. Submarine Force
220(2)
Fatal Flaw #10: Lack of Operational Discipline
222(5)
Risk Intelligence Skill #10: Develop and Sustain Operational Discipline
227(8)
PART III CREATING THE RISK INTELLIGENT ENTERPRISE
235(72)
Risk Intelligence Is Free
237(20)
A Closer Look at Costs
239(14)
The Rewards of Risk Intelligence
253(4)
Risk Intelligent Governance
257(24)
The Risk Intelligent Board
258(13)
Committees of the Board and Risk Intelligence
271(6)
Where Does Risk Oversight End and Risk Management Begin?
277(4)
Risk Intelligent Enterprise Management
281(12)
ERM and Risk Intelligence
282(2)
Developing Risk Intelligent Enterprise Management
284(3)
Act as One
287(4)
A New Way of Doing Business
291(2)
The Way Forward: Creating the Risk Intelligent Enterprise
293(14)
The Benefits of Improved Risk Intelligence
294(1)
What's Your Enterprise Risk IQ?
295(3)
Making the Transformation
298(6)
Conclusion
304(3)
Notes 307(18)
About the Authors 325(2)
Index 327
FREDERICK FUNSTON is a principal with Deloitte & Touche LLP and has more than thirty years of experience working with leaders of numerous global companies. In 2000, Rick created the concept of risk intelligence for value creation and value protection. He is a frequent speaker and writer on leveraging risk intelligence for competitive advantage in complex, global organizations.

STEPHEN WAGNER is a nationally recognized thought leader on corporate governance. In 2009, Steve retired as the managing partner of Deloitte LLP's Center for Corporate Governance, where he led the firm's integrated strategy for governance services. He is a frequent speaker at governance conferences and directors' colleges and has authored or contributed to numerous articles on governance and risk.