CHAPTER 2
Strategic Risk: Uncertainties That Impact Competitive Advantage
We introduced the concept of strategic risks in chapter 1. In this chapter, we’ll clearly define strategic risks and explain the three interrelated elements that transform uncertainty into strategic risk: external changes, a company’s responses to those changes, and the passage of time. Strategic risks can threaten competitive advantage, or it can create opportunities to extend or strengthen it. Our discussion begins with the Walt Disney Company and two strategic risks it faced in the mid-1980s.
Michael Eisner assumed the title of chief executive officer of the Walt Disney ...
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