Managing Risk and Opportunity
The Governance of Strategic Risk-Taking
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Product details:
- Publisher OUP Oxford
- Date of Publication 24 April 2014
- ISBN 9780199687855
- Binding Hardback
- No. of pages204 pages
- Size 223x147x18 mm
- Weight 382 g
- Language English
- Illustrations Figures, Tables, and Boxes 0
Categories
Short description:
This book looks at the critical demands imposed on directors and leaders when faced with corporate risks in turbulent global markets. It shows show why successful risk management outcomes require ethical governance principles and organizational structures that enhance effective risk-taking practices by all actors.
MoreLong description:
This book promotes good risk governance and risk management practices to corporate managers, executives, and directors wherever they operate around the world. The major corporate scandals have their roots in governance failure pointing to the link between risk governance and good performance outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors.
The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book is framed around the challenges imposed on executives and directors in dealing with an increasingly complex and unpredictable world. This requires a new risk leadership focus that not only avoids the downside risks but also considers ways to exploit the upside potential offered by a dynamic environment. The underlying logic is built on the principles of financial economics where benefits derive from reducing bankruptcy costs and increasing future cash inflows. This provides a stringent framework for analyzing the effect of different risk management actions and behaviors in effective risk-taking organizations. Hence, the book addresses the potential for upside gains as much as the threats of downside losses that represent the conventional risk perspectives. It states the simple fact that you must be willing to take risk to increase strategic responsiveness and corporate manoeuverability. The text builds the arguments in logical steps explicating relevant techniques and practices along the way that invite to immediate applications and practical thinking
... this book contains 176 pages of brilliantly written overview of the current thinking in risk management ... Managing Risk and Opportunity: the Governance of Strategic Risk Taking is a thoroughly researched and well-structured piece of work that covers a wide range of topics, and provides a great balanced overview of major current issues in risk management. This book could easily make it to the top of the list of mandatory reading for Risk Officers and Regulators if there were such a list.
Table of Contents:
Preface
Introduction
Risk, Risk Management, and Risk Governance
Risk, Uncertainty, and Proactive Risk-Taking
Value Based Enterprise Risk Management Practices
Value Creation Through Risk Management
The Strategic Risk-Taking Organization
Postscriptum
Appendix 1: Good Risk Committee Practices
Appendix 2: The Capital Asset Pricing Model (CAPM)
Appendix 3: Assessing the Strategic Risk Governance Environment
