5Risk
Risk is everywhere, and risk can be paradoxical. The more we avoid risk, the less we do – which may be riskier – so, we have the risk of action and the risk of inaction. When not properly understood, risk can lead to disaster, and even when properly understood, you take the risk you might have a disaster anyway.
Corporate strategy is inextricably linked to risk because strategy leads to choices, choices force decisions, and decisions involve risk. The level of risk we can tolerate is situation dependent. The failure of a new aircraft designed by Boeing is not the same as the corporate risk for Ford when a new model fails. The failure of a major investment for a cash-rich firm is completely different if the ...
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