Surviving and Thriving in Uncertainty: Creating The Risk Intelligent Enterprise - Hardcover

Funston, Frederick; Wagner, Stephen

Hardcover

ISBN 10: 0470247886 ISBN 13: 9780470247884

Publisher: Wiley, 2010

Synopsis

A new book to help senior executives and boards get smart about risk management

The ability of businesses to survive and thrive often requires unconventional thinking and calculated risk taking. The key is to make the right decisions―even under the most risky, uncertain, and turbulent conditions.

In the new book, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise, authors Rick Funston and Steve Wagner suggest that effective risk taking is needed in order to innovate, stay competitive, and drive value creation.

Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, Funston and Wagner discuss the adoption of 10 essential and practical skills, which will improve agility, resilience, and realize benefits:

• Challenging basic business assumptions can help identify "Black Swans" and provide first-mover advantage
• Defining the corporate risk appetite and risk tolerances can help reduce the risk of ruin.
• Anticipating potential causes of failure can improve chances of survival and success through improved preparedness.
• Factoring in velocity and momentum can improve speed of response and recovery.
• Verifying sources and the reliability of information can improve insights for decision making and thus decision quality.
• Taking a longer-term perspective can aid in identifying the potential unintended consequences of short-term decisions.

About this title

About 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.

From the Back Cover

SURVIVING AND THRIVING IN UNCERTAINTY
Creating the Risk Intelligent Enterprise

Why can't the cycle of scandal, speculation, greed, and recklessness be broken? With countless sums spent on enterprise risk management, why does it consistently fail at critical junctures? How can you hope to manage that? In a sense, you can't not in the way you can manage a production facility or a sales force. Conventional risk management, though necessary, is concerned mainly with avoiding risk and protecting existing assets and simply isn't enough for the survival of your organization.

Starting with a Foreword by the Honorable Tom Ridge the nation's first Secretary of the Department of Homeland Security Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise reveals demonstrated methods you can use to help exercise better judgment and make better decisions under the most risky, uncertain, and turbulent conditions.

Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, recognized industry veterans and authors Frederick Funston and Stephen Wagner look at:

• Perspectives of those who work in risk, from business directors and senior executives to combat pilots, first responders, race car drivers, and astronauts
• How you can use risk management tools proactively instead of reactively to improve decision making
• The ten fatal flaws in conventional risk management . . .
• . . . And their ten corresponding enterprise risk intelligence skills
• Why doing business based on tradition, habit, or on autopilot can mean your business's downfall

This book reveals risk management to be an integral part of value creation and preservation. Get smart in your approach to risk with the timely and relevant guidance found in Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise.

From the Inside Flap

SURVIVING AND THRIVING IN UNCERTAINTY
Creating the Risk Intelligent Enterprise

Why can't the cycle of scandal, speculation, greed, and recklessness be broken? With countless sums spent on enterprise risk management, why does it consistently fail at critical junctures? How can you hope to manage that? In a sense, you can't not in the way you can manage a production facility or a sales force. Conventional risk management, though necessary, is concerned mainly with avoiding risk and protecting existing assets and simply isn't enough for the survival of your organization.

Starting with a Foreword by the Honorable Tom Ridge the nation's first Secretary of the Department of Homeland Security Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise reveals demonstrated methods you can use to help exercise better judgment and make better decisions under the most risky, uncertain, and turbulent conditions.

Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, recognized industry veterans and authors Frederick Funston and Stephen Wagner look at:

• Perspectives of those who work in risk, from business directors and senior executives to combat pilots, first responders, race car drivers, and astronauts
• How you can use risk management tools proactively instead of reactively to improve decision making
• The ten fatal flaws in conventional risk management . . .
• ...And their ten corresponding enterprise risk intelligence skills
• Why doing business based on tradition, habit, or on autopilot can mean your business's downfall

This book reveals risk management to be an integral part of value creation and preservation. Get smart in your approach to risk with the timely and relevant guidance found in Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise.

Edition details

• Publisher: Wiley
• Publication date: 2010
• Language: English
• ISBN 10: 0470247886
• ISBN 13: 9780470247884
• Binding: Hardcover
• Edition number: 1
• Number of pages: 368