Funston / Wagner Surviving and Thriving in Uncertainty

Creating The Risk Intelligent Enterprise
1. Auflage 2010
ISBN: 978-0-470-61747-2
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 400 Seiten, E-Book

A new book to help senior executives and boards get smart aboutrisk management
The ability of businesses to survive and thrive often requiresunconventional thinking and calculated risk taking. The key is tomake the right decisions--even under the most risky,uncertain, and turbulent conditions.
In the new book, Surviving and Thriving in Uncertainty: Creatingthe Risk Intelligent Enterprise, authors Rick Funston and SteveWagner suggest that effective risk taking is needed in order toinnovate, stay competitive, and drive value creation.
Based on their combined decades of experience as practitioners,consultants, and advisors to numerous business professionalsthroughout the world, Funston and Wagner discuss the adoption of 10essential and practical skills, which will improve agility,resilience, and realize benefits:
* Challenging basic business assumptions can help identify "BlackSwans" and provide first-mover advantage
* Defining the corporate risk appetite and risk tolerances canhelp reduce
* the risk of ruin.
* Anticipating potential causes of failure can improve chancesof survival and success through improved preparedness.
* Factoring in velocity and momentum can improve speed ofresponse and recovery.
* Verifying sources and the reliability of information canimprove insights for decision making and thus decisionquality.
* Taking a longer-term perspective can aid in identifying thepotential unintended consequences of short-term decisions.

Autoren/Hrsg.

Funston, Frederick D.

Funston, Frederick

Wagner, Stephen

Inhaltsverzeichnis

Acknowledgments.
Foreword.
Preface.
Introduction.
Conventional Risk Management.
A Risk Intelligent Approach.
The Approach of This Book.
The Structure of This Book.
PART I WHEN RISKS BECOME BRUTAL REALITIES.
CHAPTER 1 To Survive and Thrive: A Matter ofJudgment.
The Revolving Door to the Corner Office.
Barriers to Board Effectiveness.
The Imperatives of the Enterprise.
CHAPTER 2 Conventional Risk Management Has Failed.
What Goes Up Must Come Down.
The Evolution of Finance, Market, and Risk ManagementTheory.
Taking a (Random) Walk.
CHAPTER 3 An Unconventional Approach to RiskManagement.
Calculated Risk Taking Creates Value.
Calculated Risk Taking and Risk Aversion.
Risk Intelligence: An Unconventional Approach.
PART II TEN ESSENTIAL RISK INTELLIGENCE SKILLS.
CHAPTER 4 Check Your Assumptions at the Door.
Fatal Flaw #1: Failing to Challenge Your Assumptions.
Risk Intelligence Skill #1: Check Your Assumptions at theDoor.
CHAPTER 5 Maintain Constant Vigilance.
Fatal Flaw #2: Lack of Vigilance.
Risk Intelligence Skill #2: Maintain Constant Vigilance.
CHAPTER 6 Factor in Velocity and Momentum.
Fatal Flaw # 3: Failure to Consider Velocity and Momentum.
Risk Intelligence Skill #3: Factor in Velocity and Momentum.
CHAPTER 7 Manage the Key Connections.
Fatal Flaw #4: Failure to Make Key Connections and ManageComplexity.
Risk Intelligence Skill #4: Manage Your Key Connections.
CHAPTER 8 Anticipate Causes of Failure.
Fatal Flaw #5: Failure to Anticipate Failure.
Risk Intelligence Skill #5: Anticipate Causes of Failure.
CHAPTER 9 Verify Sources and Corroborate Information.
Fatal Flaw #6: Failure to Verify Sources and CorroborateInformation.
Risk Intelligence Skill # 6: Verify Sources and CorroborateInformation.
CHAPTER 10 Maintain a Margin of Safety.
Fatal Flaw #7: Failing to Maintain a Margin of Safety.
Risk Intelligence Skill #7: Maintain a Margin of Safety.
CHAPTER 11 Set Your Enterprise Time Horizons.
Fatal Flaw #8: Short-Termism.
Risk Intelligence Skill #8: Set Your Enterprise TimeHorizons.
CHAPTER 12 Take Enough of the Right Risks.
Fatal Flaw #9: Failure to Take Enough of the Right Risks.
Risk Intelligence Skill #9: Taking Enough of the RightRisks.
CHAPTER 13 Sustain Operational Discipline.
Case Example: The U.S. Submarine Force.
Fatal Flaw #10: Lack of Operational Discipline.
Risk Intelligence Skill #10: Develop and Sustain OperationalDiscipline.
PART III CREATING THE RISK INTELLIGENT ENTERPRISE.
CHAPTER 14 Risk Intelligence Is Free.
A Closer Look at Costs.
The Rewards of Risk Intelligence.
CHAPTER 15 Risk Intelligent Governance.
The Risk Intelligent Board.
Committees of the Board and Risk Intelligence.
Where Does Risk Oversight End and Risk Management Begin?.
CHAPTER 16 Risk Intelligent Enterprise Management.
ERM and Risk Intelligence.
Developing Risk Intelligent Enterprise Management.
Act as One.
A New Way of Doing Business.
CHAPTER 17 The Way Forward: Creating the Risk IntelligentEnterprise.
The Benefits of Improved Risk Intelligence.
What's Your Enterprise Risk IQ?
Making the Transformation.
Conclusion.
Notes.
About the Authors.
Index.

Über Autor(innen)

Frederick Funston is a principal with Deloitte & ToucheLLP and has more than thirty years of experience working withleaders of numerous global companies. In 2000, Rick created theconcept of risk intelligence for value creation and valueprotection. He is a frequent speaker and writer on leveraging riskintelligence for competitive advantage in complex, globalorganizations.
Stephen Wagner is a nationally recognized thought leaderon corporate governance. In 2009, Steve retired as the managingpartner of Deloitte LLP's Center for Corporate Governance, where heled the firm's integrated strategy for governance services. He is afrequent speaker at governance conferences and directors' collegesand has authored or contributed to numerous articles on governanceand risk.