Managing Risk and Opportunity: The Governance of Strategic Risk-Taking

Hardcover | April 30, 2014

byTorben Juul Andersen, Maxine Garvey, Oliviero Roggi

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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 performanceoutcomes. 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 andincreasing 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 buildsthe arguments in logical steps explicating relevant techniques and practices along the way that invite to immediate applications and practical thinking

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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 performanceoutcomes. This topic is timely and of interes...

Torben Juul Andersen is Professor of Strategy and International Management at the Copenhagen Business School and was Associate Dean of the MBA Program 2008-2012. He previously taught financial economics at George Mason University and Johns Hopkins University. He has held executive positions at Citibank/Citicorp Investment Bank, Uniban...

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Format:HardcoverDimensions:224 pages, 8.5 × 5.43 × 0.98 inPublished:April 30, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199687854

ISBN - 13:9780199687855

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Table of Contents

PrefaceIntroduction1. Risk, Risk Management, and Risk Governance2. Risk, Uncertainty, and Proactive Risk-Taking3. Value Based Enterprise Risk Management Practices4. Value Creation Through Risk Management5. The Strategic Risk-Taking OrganizationPostscriptumAppendix 1: Good Risk Committee PracticesAppendix 2: The Capital Asset Pricing Model (CAPM)Appendix 3: Assessing the Strategic Risk Governance Environment