CHAPTER 3
Managing Risk
The great recession. The Boeing disaster. Covid-19. The early-warning systems of America’s corporations have failed them in recent years, not only because companies did not foresee disastrous events but also because they weren’t prepared to act when unknown risks came upon them. Nor were they ready to manage the long-term opportunities that risk can present.
Risk is the third pillar of the new TSR, against which boards assess strategy. And changing the way they think about risk is one of the mandates for boards in managing for the long term. Traditionally, boards have focused on financial risk to minimize the chance of ...
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