Strategic Risk Taking

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Strategic Risk Taking

Author : Aswath Damodaran
ISBN : 9780131990487
Genre : Business & Economics
File Size : 49.33 MB
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Groundbreaking book that redefines risk in business as potentially powerful strategically to help increase profits. bull; Get out of your "defensive crouch ": learn which risks to avoid, which to mitigate, and which to actively exploit. bull; Master risk management techniques that can drive competitive advantage, increase firm value, and enhance growth and profitability. bull; By Dr. Aswath Damodaran, one of the field's top "gurus " - known worldwide for his classic guides to corporate finance and valuation.
Category: Business & Economics

Managing Risk And Opportunity

Author : Torben Juul Andersen
ISBN : 9780199687855
Genre : Business & Economics
File Size : 20.21 MB
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This book looks at the critical demands imposed on directors and leaders when faced with corporate risks in turbulent global markets. It shows show why successful risk management outcomes require ethical governance principles and organizational structures that enhance effective risk-taking practices by all actors.
Category: Business & Economics

Enlightened Risk Taking

Author : George L. Head
ISBN : 189321009X
Genre : Business & Economics
File Size : 73.96 MB
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Nonprofit organizations by their very nature are risk-taking operations. They venture to provide services to people at risk, in risky places and on limited budgets. To tell a nonprofit organization not to take risks is as good as telling the organization to close its doors. This book explains how to take risks in enlightened ways that enable your nonprofit to fulfill its mission to the utmost in our less-than-fully-predictable world. This book is also about risk management?a process for planning, organizing, directing and controlling the assets and activities of any organization to enable it to accomplish its mission. But to the traditional concept of ?safeguarding against the losses,? we have added strategies for ?seizing the opportunities for gain that risk generates??a rather avant-garde concept. When you add safeguarding loss to seizing opportunity for gain, you have a nonprofit poised to grow into its future.
Category: Business & Economics

Ceo Age And Strategic Risk Taking The Moderating Role Of The Board And Equity Based Compensation

Author : Farid Mammadaliyev
ISBN : OCLC:1050079547
Genre :
File Size : 24.3 MB
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Prior academic work generates ambiguous predictions with respect to how CEO age influences strategic risk-taking. On the one hand, career and reputation concerns scholars argue that younger CEOs are reluctant to engage in risky strategic actions, since they have fear of being fired. On the other hand, career horizon scholars defend a view that older CEOs tend to be risk-averse, as they are willing to maintain the legacy of success. Addressing two opposite views, I document a curvilinear association between CEO age and strategic risk-taking. In particular, I find that strategic risk-taking increases with CEO age at a decreasing rate, meaning the amount of risk older CEOs are willing to take is limited while accounting for unobserved CEO characteristics. However, when firm-level unobserved characteristics are controlled, an inverted U-shaped relationship is observed, with maximum levels of strategic risk-taking occurring at 50s. Further analyses reveal that stock options create strong financial incentives for risk-averse CEOs and induce them to follow more aggressive investment and financial policies. Finally, I find no empirical evidence for the assumption that states stock awards and board independence moderate the effect of age on firm strategic risk-taking.
Category:

Smart Risk Management

Author : Ron Rael
ISBN : 9781940235332
Genre : Business & Economics
File Size : 60.19 MB
Format : PDF, Kindle
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Management accountants must be able to define the payoffs from their organisation's risk taking, as well as identify, understand, and reduce the negative effects of everyday business risks. This book defines organisational risk taking and outlines a formal process to handle risk effectively. The book details six steps for sound risk management: Defining risk Examining your attitude toward risk Analysing your organisation's ability to handle risk Minimising a risk's exposure or downside Recovering quickly from a risk's negative impacts Expanding your knowledge so you can accept more risk with confidence Written for management accountants, Smart Risk Management analyses your position in the middle of the organisation-ensuring both that it does not take risks whose costs it cannot afford and that it takes enough risks to stay competitive in the evolving marketplace. Having adequate insurance coverage is only one small piece of risk management, as this book explains. With ample examples and case studies, as well as 50 hands-on risk tools, Smart Risk Management will enhance your understanding of strategic, operational, and innovation risk and increase your value to your organisation.
Category: Business & Economics

Strategic Risk Management

Author : David Iverson
ISBN : 9781118176436
Genre : Business & Economics
File Size : 75.34 MB
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A comprehensive guide to the key investment decisions all investors must make and how to manage the risk that entails Since all investors seek maximize returns balanced against acceptable risks, successful investment management is all about successful risk management. Strategic Risk Management uses that reality as a starting point, showing investors how to make risk management a process rather than just another tool in the investor's kit. The book highlights and explains primary investment risks and shows readers how to manage them across the key areas of any fund, including investment objectives, asset allocation, asset class strategy, and manager selection. With a strong focus on risk management at the time of asset allocation and at the time of implementation, the book offers important guidance for managers of benefit plans, endowments, defined contribution schemes, and family trusts. Offers a thorough examination of the role of risk management in the decision-making process for asset allocation, manager selection, and other duties of fund managers Written by the current head of portfolio design for the New Zealand Superannuation Fund Addresses the fundamental importance of risk management in today's post-crisis fund management landscape Strategic Risk Management is a comprehensive and easy-to-read guide that identifies the primary risks investors face and reveals how best to manage them.
Category: Business & Economics

Risk Management Strategies And The Role Of Senior Managers

Author : Difrine Madara
ISBN : 9783346053961
Genre : Business & Economics
File Size : 21.56 MB
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Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: A, Kenyatta University, language: English, abstract: Risks are inevitable in any business organisation. In this case, a company must put in place comprehensive measures to address various types of risks that a company may face. A senior manager of any organisation has a significant role to play in designing risk management strategies for the company. This report is, therefore, about the role of senior management in risk assessment, development of the company’s risk management strategy, communication and ressourcing risk management strategies and the evaluation of outcomes. Risk management can be defined as the process of identifying, evaluating and prioritising risks supported by a well-coordinated efficient investment of ressources to minimise, monitor and control the probability of the occurrence of the unfortunate events and maximise attainment of opportunities. Risks originate from several sources, such as uncertainty in the financial markets, threats of project failure, legal issues, accidents, credit risks, and natural occurrences, among others. There are also cases where some events that have never happened before can occur, such as 9/11 terror attacks. These risks are referred to as unforeseeable risks. According to Nassim Taleb, unforeseeable risks are events, which are the rare but high impact on the business or organisation. In the contemporary business environment, inventions, such as social media and natural issues, such as global warming can have a massive impact on business thus the management should prepare for such issues or events appropriately. Risk management, therefore, encompasses strategies adopted by the organisation to ensure that the negative effects of these uncertainties are limited by avoiding, reducing, transferring or accepting the risk. However, risk management initiatives must also consider strategic risks. Basically, strategic risks refer to long-term risks that may arise from long-term decisions taken by the company. That is, a strategic risk refers to potential losses that the company may incur as a result of pursuing wrong business or long-term plans. In this regard, strategic risk management could be described as identifying, assessing and managing risk processes that arise from the company’s business strategy, which includes taking necessary actions if such risks are identified. It encompasses the evaluation of a broad range of probable incidents and circumstances that may disturb the company’s strategy and its performance.
Category: Business & Economics

The Routledge Companion To Strategic Risk Management

Author : Torben Juul Andersen
ISBN : 9781317703983
Genre : Business & Economics
File Size : 64.48 MB
Format : PDF
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Managing risk in and across organizations has always been of vital importance, both for individual firms and for the globalized economy more generally. With the global financial crisis, a dramatic lesson was learnt about what happens when risk is underestimated, misinterpreted, or even overlooked. Many possible solutions have been competing for international recognition, yet, there is little empirical evidence to support the purported effectiveness of these regulations and structured control approaches, which leaves the field wide open for further interpretation and conceptual development. This comprehensive book pulls together a team of experts from around the world in a range of key disciplines such as management, economics and accounting, to provide a comprehensive resource detailing everything that needs to be known in this emerging area. With no single text currently available, the book fills a much needed gap in our current understanding of strategic risk management, offering the potential to advance research efforts and enhance our approaches to effective risk management practices. Edited by a globally recognized expert on strategic risk management, this book will be an essential reference for students, researchers, and professionals with an interest in risk management, strategic management and finance.
Category: Business & Economics

Strategic Risk Management Practice

Author : Torben Juul Andersen
ISBN : 1139483811
Genre : Business & Economics
File Size : 80.46 MB
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At a time when corporate scandals and major financial failures dominate newspaper headlines, the importance of good risk management practices has never been more obvious. The absence or mismanagement of such practices can have devastating effects on exposed organizations and the wider economy (Barings Bank, Enron, Lehmann Brothers, Northern Rock, to name but a few). Today's organizations and corporate leaders must learn the lessons of such failures by developing practices to deal effectively with risk. This book is an important step towards this end. Written from a European perspective, it brings together ideas, concepts and practices developed in various risk markets and academic fields to provide a much-needed overview of different approaches to risk management. It critiques prevailing enterprise risk management frameworks (ERMs) and proposes a suitable alternative. Combining academic rigour and practical experience, this is an important resource for graduate students and professionals concerned with strategic risk management.
Category: Business & Economics

Risk Management In Health Care Institutions

Author : Florence Kavaler
ISBN : 0763723142
Genre : Medical
File Size : 40.28 MB
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Risk management for health care institutions involves the protection of the assets of the organizations, agencies, and individual providers from liability. A strategic approach can result in significant cost savings. Risk Management in Health Care Institutions: A Strategic Approach offers governing boards, chief executive officers, administrators, and health profession students the opportunity to organize and devise a successful risk management program. Experts in risk management have contributed comprehensive, up-to-date syntheses of relevant topics to assist with practical risk management strategies.
Category: Medical

Strategy And Risk Management

Author : Ron Rael
ISBN : 9781940235219
Genre : Business & Economics
File Size : 90.83 MB
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Employees make dozens of day-to-day decisions—and any one of them could come back to haunt you, even when the decision does not seem to have hidden or unknown ramifications. That is why your organisation must have a protocol in place for identifying and mitigating all major business risks long before it is needed. At the strategic level, risk management and strategic management are intertwined. Using this book, learn how to apply powerful tools and approaches to make your planning processes more effective and flexible and build a set of decision-making processes based on plain language. Author, Ron Rael, uses quality concepts/language (TQM & Six Sigma) to define the Enterprise Risk Management (ERM) process and value of prevention, while showing how these elements are both necessary and highly desired in an organisation’s strategic decision-making. ERM extends to your everyday business decisions because employees take actions and make daily choices that could have a detrimental effect on your profits and business’s longevity and future. This book will provide a best practices view on the latest developments in ERM deliver how-to guidance on developing ERM processes at the enterprise and department levels facilitate enterprise-wide ERM participation via practical information and examples deliver cross-functional management and implementation of ERM
Category: Business & Economics

Implementing Enterprise Risk Management

Author : John Fraser
ISBN : 9781118691960
Genre : Business & Economics
File Size : 35.79 MB
Format : PDF
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Overcome ERM implementation challenges by taking cues from leading global organizations Implementing Enterprise Risk Management is a practical guide to establishing an effective ERM system by applying best practices at a granular level. Case studies of leading organizations including Mars, Statoil, LEGO, British Columbia Lottery Corporation, and Astro illustrate the real-world implementation of ERM on a macro level, while also addressing how ERM informs the response to specific incidents. Readers will learn how top companies are effectively constructing ERM systems to positively drive financial growth and manage operational and outside risk factors. By addressing the challenges of adopting ERM in large organizations with different functioning silos and well-established processes, this guide provides expert insight into fitting the new framework into cultures resistant to change. Enterprise risk management covers accidental losses as well as financial, strategic, operational, and other risks. Recent economic and financial market volatility has fueled a heightened interest in ERM, and regulators and investors have begun to scrutinize companies' risk-management policies and procedures. Implementing Enterprise Risk Management provides clear, demonstrative instruction on establishing a strong, effective system. Readers will learn to: Put the right people in the right places to build a strong ERM framework Establish an ERM system in the face of cultural, logistical, and historical challenges Create a common language and reporting system for communicating key risk indicators Create a risk-aware culture without discouraging beneficial risk-taking behaviors ERM is a complex endeavor, requiring expert planning, organization, and leadership, with the goal of steering a company's activities in a direction that minimizes the effects of risk on financial value and performance. Corporate boards are increasingly required to review and report on the adequacy of ERM in the organizations they administer, and Implementing Enterprise Risk Management offers operative guidance for creating a program that will pass muster.
Category: Business & Economics

Risk Based Performance Management

Author : A. Smart
ISBN : 9781137367303
Genre : Business & Economics
File Size : 73.80 MB
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Pulling together into a single framework the two separate disciplines of strategy management and risk management, this book provides a practical guide for organizations to shape and execute sustainable strategies with full understanding of how much risk they are willing to accept in pursuit of strategic goals.
Category: Business & Economics

Risk Management Speculation And Derivative Securities

Author : Geoffrey Poitras
ISBN : 0125588224
Genre : Business & Economics
File Size : 24.15 MB
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Presenting an integrated explanation of speculative trading and risk management from the practitioner's point of view, "Risk Management, Speculation, and Derivative Securities" is a standard text on financial risk management that departs from the perspective of an agent whose main concerns are pricing and hedging derivatives.
Category: Business & Economics

The Complete Idiot S Guide To Risk Management

Author : Annetta Cortez
ISBN : 9781101196236
Genre : Business & Economics
File Size : 73.35 MB
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Manage the risk and maximize the reward! Risk. It's what business is all about. The key to success is to anticipating and managing the risks that can impact business. 'The Complete Idiot's Guide® to Risk Management', provides the key information necessary to manage business risk successfully. ? The basic categories of business risk ? How to identify the specific factors that affect any particular business ? How to create practical risk models to plan ahead ? How to lessen the impact of risk events should they happen ? How to profit from strategic risk taking
Category: Business & Economics

Practical Enterprise Risk Management

Author : Liz Taylor
ISBN : 9780749470548
Genre : Business & Economics
File Size : 80.62 MB
Format : PDF, Mobi
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Practical Enterprise Risk Management addresses the real need for organizations to take more managed risks in order to maximize business strategies and achieve long term goals. Based on ISO 31000 and applying current best practice, it provides templates and examples that can be adapted for any industry. Breaking down the theory on enterprise risk management, it helps you see risk as both an opportunity and a threat whilst giving you guidance on how to implement it. It provides models for Risk Adjusted Return on Capital to evaluate R.O.I and measure performance, advice on emergent risks, as well as best practice and advice on risk communication, transparency and protecting the brand. Including a comprehensive overview of risk management responsibilities for boards, Practical Enterprise Risk Management lifts the lid on the whole process, helping you to embed ERM into your organization, reach your goals and take more, and more effective, managed risks.
Category: Business & Economics

Taking Risks

Author : Kenneth R. Maccrimmon
ISBN : 9780029195635
Genre : Business & Economics
File Size : 40.84 MB
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Offers tests designed to measure one's willingness to take risks, describes characteristics associated with this quality, and discusses the importance of risk-taking in management and investment situations.
Category: Business & Economics

Strategic Risk

Author : Institution of Civil Engineers (Great Britain)
ISBN : 0727734679
Genre : Architecture
File Size : 33.14 MB
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Strategic Risk: A Guide for Directors presents a challenging new approach to risk management known as STRATrisk, which helps enterprises to focus on the outcomes that really matter. The authors state that strategic risks differ from tactical risks, not just in magnitude but also in their nature - even though they often arise from project or operational risks; that is because the really big risks are more dynamic, uncertain and interconnected. This guide has been produced by collaboration between the civil engineering and actuarial professions, and shows why managing strategic risk needs a different approach; outlines a recommended methodology; stresses the necessity for the board to provide risk leadership and create the right culture, internal communications systems and risk-management frameworks; and discusses how to proceed in practice and outlines constructive tools.
Category: Architecture

The Essentials Of Risk Management

Author : Michel Crouhy
ISBN : 9780071483322
Genre : Business & Economics
File Size : 57.15 MB
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Risk management is no longer confined solely to risk management specialists. Stakeholders ranging from employees to investors must understand how to quantify the tradeoffs of risk against the potential return. The failure to understand the essential nature of risk can have devastating consequences. Globally renowned risk and corporate governance experts Michel Crouhy, Dan Galai, and Robert Mark have updated and streamlined their bestselling professional reference Risk Management to introduce you to the world of risk management without requiring you to know the intricate formulas and mathematical details. The Essentials of Risk Management is the first book to make even the most sophisticated risk management approaches simultaneously accessible to both risk and non risk professionals. It will help you to: Increase the transparency of your risk management program to satisfy shareholders, employees, regulators, and other important constituencies Keep on top of the continuing evolution of best-practice risk policies and methodologies and associated risk infrastructures Implement and efficiently communicate an organization-wide Enterprise Risk Management (ERM) approach that encompasses market, credit, liquidity, operational, legal and regulatory, business, strategic and reputation risks Navigate thorny areas including risk policies, risk methodologies, economic capital, regulatory capital, performance measurement, asset-liability management, and more Efficiently allocate limited corporate resources to comply with the new generation of risk regulation and corporate governance regulation As a non-risk professional or board member, you are being called on more than ever before to make sophisticated assessments of your organization's risk exposures as well as play a critical role in its formal risk management process. The Essentials of Risk Management tells you what you need to know to succeed in this challenging new environment.
Category: Business & Economics

Enterprise Risk Management

Author : Karen Hardy
ISBN : 9781118911037
Genre : Business & Economics
File Size : 70.64 MB
Format : PDF
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Winner of the 2017 Most Promising New Textbook Award by Textbook & Academic Authors Association (TAA)! Practical guide to implementing Enterprise Risk Management processes and procedures in government organizations Enterprise Risk Management: A Guide for Government Professionals is a practical guide to all aspects of risk management in government organizations at the federal, state, and local levels. Written by Dr. Karen Hardy, one of the leading ERM practitioners in the Federal government, the book features a no-nonsense approach to establishing and sustaining a formalized risk management approach, aligned with the ISO 31000 risk management framework. International Organization for Standardization guidelines are explored and clarified, and case studies illustrate their real-world application and implementation in US government agencies. Tools, including a sample 90-day action plan, sample risk management policy, and a comprehensive implementation checklist allow readers to immediately begin applying the information presented. The book also includes results of Hardy's ERM Core Competency Survey for the Public Sector; which offers an original in-depth analysis of the Core Competency Skills recommended by federal, state and local government risk professionals. It also provides a side-by-side comparison of how federal government risk professionals view ERM versus their state and local government counterparts. Enterprise Risk Management provides actionable guidance toward creating a solid risk management plan for agencies at any risk level. The book begins with a basic overview of risk management, and then delves into government-specific topics including: U.S. Federal Government Policy on Risk Management Federal Manager's Financial Integrity Act GAO Standards for internal control Government Performance Results Modernization Act The book also provides a comparative analysis of ERM frameworks and standards, and applies rank-specific advice to employees including Budget Analysts, Program Analysts, Management Analysts, and more. The demand for effective risk management specialists is growing as quickly as the risk potential. Government employees looking to implement a formalized risk management approach or in need of increasing their general understanding of this subject matter will find Enterprise Risk Management a strategically advantageous starting point.
Category: Business & Economics