Shaping a Risk Intelligent strategy
Confronting assumptions to find risk and opportunity
As strategic leaders, directors and senior executives are responsible for identifying and responding to the killer risks and game-changing opportunities that face an enterprise. These are the risks and opportunities often referred to as “strategic” since managing the former and taking advantage of the latter is an essential part of an effective business strategy. Now it is more important than ever given the pace of change in today’s turbulent economy.
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
– Mark Twain
In this whitepaper, we discuss why boards and directors often suffer from an incomplete understanding of strategic risk as well as what they can do to avoid being blindsided by the unexpected. A Risk Intelligent approach to strategy begins with constructively challenging one’s own assumptions. It is refined by determining whether potential unexpected events are threats, opportunities, or both. It concludes with a portfolio of strategic options which allow the business to be resilient against threats and agile in seizing opportunity.