August 2007
Intermediate to advanced
408 pages
11h 53m
English
Content preview from Strategic Risk Taking: A Framework for Risk ManagementBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Chapter 12. Risk Management: First Principles
If there is a theme that runs through this book, it is that risk underlies and affects every decision that a business makes, and that risk management is not just risk hedging. In this chapter, we review what we know about risk in general and how best to deal with it in practice, and we restate 10 principles that should govern both risk assessment and risk management.
1. Risk Is Everywhere
Individuals and businesses have only three choices when it comes to dealing with risk. The first choice is denial: we do not acknowledge that risk exists, and we hope it goes away. In this idealized world, actions and consequences are logical, and there are no unpleasant surprises. The second is fear: we take the ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.