The Timid Corporation: Why Business Is Terrified of Taking Risk / Edition 1

The Timid Corporation: Why Business Is Terrified of Taking Risk / Edition 1

by Benjamin Hunt, George Hazel
     
 

ISBN-10: 0470843683

ISBN-13: 9780470843680

Pub. Date: 04/22/2003

Publisher: Wiley

'Irrational pessimism' seems to characterize the business world in the new millennium. Corporate managers seem unsure of the future and afraid to take risk.

In this brilliant book, based on primary research, Benjamin Hunt argues that risk aversion is now institutionalised in business. The belief systems that used to drive business forward in the past have broken

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Overview

'Irrational pessimism' seems to characterize the business world in the new millennium. Corporate managers seem unsure of the future and afraid to take risk.

In this brilliant book, based on primary research, Benjamin Hunt argues that risk aversion is now institutionalised in business. The belief systems that used to drive business forward in the past have broken down, replaced by fear and anxiety about change and the future. Risk aversion has now become a more permanent mindset and mode of operation, existing even in periods of economic recovery.

The Timid Corporation shows that managers are on the defensive. Worried about appearing to be unethical, irresponsible, failing to manage risk, and inefficient with capital, managers have imposed a massive new raft of self-regulation on corporate behaviour - from ethical codes of conduct, to risk management procedures, corporate governance rules, sustainable development and corporate social responsibility regulation. At the same time, corporations have never been more defensive in their commercial behaviour. Today, corporations aim to get 'close to the customer' at all times, are obsessed with brand loyalty, only innovate in a safe fashion, and avoid bold investment.

The Timid Corporation throws down a challenge to this new risk aversion. Industry needs to adopt a far more critical attitude to self-regulation, and raise its aspirations when it comes to technological innovation and economic growth.

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Product Details

ISBN-13:
9780470843680
Publisher:
Wiley
Publication date:
04/22/2003
Pages:
264
Product dimensions:
6.02(w) x 9.44(h) x 0.80(d)

Table of Contents

Acknowledgements.

Introduction: The Rise of the Cautious Manager.

PART ONE: THE RE-REGULATION OF THE CORPORATION.

The New Dynamic of Regulation.

Self-Regulation: Entrenching Caution.

The Rise of Risk Management.

Managing for Shareholder Value: The New Financial Risk Aversion.

PART TWO: A TIMID APPROACH TO MARKETS.

Industry in Defensive Mode.

The New Obsession with the Customer.

The Dumbing-Down of Innovation.

Fear of Growth.

PART THREE: EXPLAINING AND CHALLENGING RISK AVERSION.

A Crisis of Self-Belief.

Conclusion: Challenging the Culture of Risk Aversion.

Bibliography.

Index.

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