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Transformative HR: How Great Companies Use Evidence-Based Change for Sustainable Advantage by Ravin Jesuthasan, John W. Boudreau

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CHAPTER 3

RISK

Is It Just a Four-Letter Word?

Risk leverage transforms the traditional mind-set that risk is bad. Risk is merely the possibility of a deviation from an expected outcome. As such, risk is something that can be analyzed, planned for, managed, and exploited—leveraged—for the economic benefit of the organization. Taking the right risks is often as vital as avoiding the wrong ones.

Risk is increasingly a major concern of senior leaders and investors. This multifaceted issue encompasses everything from uncertainty in the global economy to variability of interest rates to the unpredictability of individual behavior.

Historically, HR has kept a close eye on some risks, such as the risk of a talent shortfall at the top of the organization ...

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