Elton Parker, Jeanne Kwong Bickford, Nick D’Intino, Alan Iny
Disruption creates both winners and losers. And you can only be one of the winners if you can see both sides of the coin—and are able not just to avoid the challenges, but also to envision and decisively embrace the potential opportunities within strategic risks. For most organizations, getting there requires a reboot of how they think about and evaluate risk. For example, instead of … [ Read more ]
Content: Quotation | Authors: Alan Iny, Elton Parker, Jeanne Kwong Bickford, Nick D’Intino | Source: Boston Consulting Group (BCG) | Subjects: Innovation, Risk Management
Elton Parker, Jeanne Kwong Bickford, Nick D’Intino, Alan Iny
True strategic risk management is the discipline of anticipating, preparing for, capitalizing on or mitigating, and learning from the disruptions that could either enhance or impair the organization’s ability to achieve one or more strategic objectives. In our experience, at most companies, this crucial capability is rarely functionally embedded in the organization, core to the culture, or integrated into the strategy development and planning process. … [ Read more ]
Content: Quotation | Authors: Alan Iny, Elton Parker, Jeanne Kwong Bickford, Nick D’Intino | Source: Boston Consulting Group (BCG) | Subject: Risk Management
Hans Kuipers, Alan Iny, Alison Sander
Strong deductive capabilities allow companies to go deep, applying insights from a single source across the enterprise. And strong inductive capabilities allow them to go wide and ask, “What might this outlying piece of data foreshadow?”
Content: Quotation | Authors: Alan Iny, Alison Sander, Hans Kuipers | Source: Boston Consulting Group (BCG) | Subjects: Management, Organizational Behavior
Uniting Strategy and Risk Management to Seize Opportunity in Uncertainty
Today’s more uncertain environment calls for newer, more dynamic approaches to risk management and strategic planning. Successful companies foster a culture of strategic humility, anticipatory preparedness, and a willingness to act to own the future as it unfolds. And they have four critical characteristics:
- They see risk as a two-sided coin with challenge on one side and opportunity on the other.
- They explore the strategic implications of
Content: Article | Authors: Alan Iny, Elton Parker, Jeanne Kwong Bickford, Nick D’Intino | Source: Boston Consulting Group (BCG) | Subjects: Risk Management, Strategy
Luc de Brabandere, Alan Iny
Thinking “outside the box” is neither as desirable nor as liberating as it sounds, because the space outside the box is infinite. Faced with limitless possibilities, the human mind feels adrift and tends to fall back into the familiarity of “the box.” People cannot help using mental models, frameworks, and theories—or, as we called them, boxes—to organize their thinking. Thus, a far more powerful approach … [ Read more ]
Content: Quotation | Authors: Alan Iny, Luc de Brabandere | Source: Boston Consulting Group (BCG) | Subjects: Strategy, Thought
Luc de Brabandere, Alan Iny
Models and concepts and frameworks are—to use another phrase—mental boxes within which we comprehend the real world. And ever since the 1960s, we have been taught to be creative by “thinking outside the box.”
The trouble is this: once you have mentally stepped outside the … [ Read more ]
Content: Quotation | Authors: Alan Iny, Luc de Brabandere | Source: Boston Consulting Group (BCG) | Subjects: Creativity, Innovation, Thought