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Risk Intelligent decision-making
Ten essential skills for surviving and thriving in uncertainty
This whitepaper introduces an unconventional approach to risk management and decision making.
These skills prsented in this paper can be used to help exercise better judgment and make better decisions under even the most uncertain and chaotic conditions
Conventional risk management has focused on avoiding the risks to a business strategy, rather than understanding and managing the risks of the strategy itself. While the protection of existing assets is necessary, it is not sufficient for competitive advantage. Unfortunately, when risk is defined by an organization only as the failure to adequately protect existing assets and prevent loss (unrewarded risks), the rewards of reasoned, calculated risk taking (rewarded risks) are often neglected at potentially high cost to the company’s future success. Enterprise survival is about more than just staying out of trouble; it is also about creating new and future value to ensure the highest return on investment. New business models; shifts in the competitive landscape, consumer preferences and behaviors; and new technologies all demand enterprise agility and resilience.