Risky Strategy: Understanding Risk to Improve Strategic Decisions

What is risk? Is it a real danger or just an opportunity in disguise? Can it be out-manoeuvred or is it something to be embraced and worked with?

When companies are developing their business strategies, risk may be mentioned in passing (and even then, frequently misunderstood) but is rarely seen as a key component of the strategic decision-making process. This can lead to unforeseen complications ? strategy is all about making decisions that concern an uncertain future and so risk should p...