Surviving and Thriving in Uncertainty: Creating The Risk Intelligent Enterprise

Overview

With practical and demonstrated advice on encouraging better decision making through risk management, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise challenges you to a new, multifaceted, panoramic way of viewing risk, one that encompasses both asset preservation and value creation.

Presenting factual, informative, provocative, and sometimes challenging views on the subject of risk management, this invaluable guide looks at a number of realities ...

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Overview

With practical and demonstrated advice on encouraging better decision making through risk management, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise challenges you to a new, multifaceted, panoramic way of viewing risk, one that encompasses both asset preservation and value creation.

Presenting factual, informative, provocative, and sometimes challenging views on the subject of risk management, this invaluable guide looks at a number of realities that you must confront if your business is to service and thrive.

Here, you'll find essential guidance on:

What the Risk Intelligent Enterprise looks like

Why conventional risk management has failed

The ten fatal flaws in conventional risk management…

…And their ten corresponding enterprise risk intelligence skills

The rewards of risk intelligence

Drawing from the experiences and perspectives of risk warriors in and out of the business world, the world-class strategies and approaches in Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise helps you get smart about managing risk

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Product Details

  • ISBN-13: 9780470247884
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 4/5/2010
  • Edition number: 1
  • Pages: 368
  • Sales rank: 1,461,323
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.30 (d)

Meet the Author

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.

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Table of Contents

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 of Judgment.

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 Management Theory.

Taking a (Random) Walk.

CHAPTER 3 An Unconventional Approach to Risk Management.

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 the Door.

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 Manage Complexity.

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 Corroborate Information.

Risk Intelligence Skill # 6: Verify Sources and Corroborate Information.

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 Time Horizons.

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 Right Risks.

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 Operational Discipline.

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 Intelligent Enterprise.

The Benefits of Improved Risk Intelligence.

What’s Your Enterprise Risk IQ?

Making the Transformation.

Conclusion.

Notes.

About the Authors.

Index.

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Sort by: Showing all of 2 Customer Reviews
  • Posted March 2, 2012

    more from this reviewer

    Surviving and Thriving in Uncertainty

    Hurricanes, earthquakes, floods, economic crises, political uprisings, financial panics: These “once-in-a-lifetime” events seem to be occurring with increasing regularity, and companies are scrambling to stay abreast. Risk management practices can protect your firm’s assets, but surviving a corporate ordeal is no longer enough; today, firms must grow and thrive amid ambiguity, information overload and, often, chaos. Consultants Frederick Funston and Stephen Wagner show you how to upgrade your risk management to “risk intelligence” so you can find opportunities amid crises. They interviewed military professionals, first responders, mountain climbers and astronauts, along with business leaders, to get the inside track on what dealing with risk for a living is like. Their book presents knowledge that may be familiar to informed readers, but the authors package it in a user-friendly format, interspersing their ideas with interview excerpts, case studies and useful questions to guide firms in undertaking new risk intelligence efforts. getAbstract recommends their work to directors, CEOs and risk managers.

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  • Anonymous

    Posted January 6, 2011

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