A Delicate Balance Between Risk and Reward |
In these uncertain, complex, and volatile times, risk
seems to be shifting and accelerating, creating new
challenges in the external, market, and organizational
environments alike. Winning businesses will be those
that are best able to balance coping strategies, which
are defensive and focused on avoiding downside risks,
with an increasing mix of exploitation strategies, which
embrace risk and make the most of the opportunities it
presents. This will require more than just continuous
improvement in risk management tools — it will also
involve a shift in mindset and focus: paying more
attention to forces in the external world, developing
new competencies and approaches to learning,
experimentation, and decision-making under conditions of
extreme uncertainty. pdf |