Frederick Funston, Stephen Wagner
The idea of holding open a portfolio of strategic options runs counter to conventional strategy-setting approach, in which leaders try to select a single “maximizing” strategy that drives the greatest returns. However, a maximizing strategy is usually highly tailored to current circumstances – and thus, no matter how well it may work in the short term, is apt to fail when circumstances inevitably change. … [ Read more ]
Content: Quotation | Authors: Frederick Funston, Stephen Wagner | Source: “Deloitte” | Subject: Strategy
Frederick Funston, Stephen Wagner and Henry Ristuccia
Conventional risk management has focused on avoiding the risks to a business strategy, rather than understanding and managing the risks of the strategy itself. While the protection of existing assets is necessary, it is not sufficient for competitive advantage. Unfortunately, when risk is defined by an organization only as the failure to adequately protect existing assets and prevent loss (unrewarded risks), the rewards of reasoned, … [ Read more ]
Content: Quotation | Authors: Frederick Funston, Henry Ristuccia, Stephen Wagner | Source: “Deloitte Review” | Subject: Risk Management
Frederick Funston, Stephen Wagner and Henry Ristuccia
One of the greatest challenges for any enterprise is to discuss constructively how it might fail so that it can act to prevent such failure.
Content: Quotation | Authors: Frederick Funston, Henry Ristuccia, Stephen Wagner | Source: “Deloitte Review” | Subjects: Management, Success / Failure
Risk Intelligent Decision-Making
Conventional risk management has focused on avoiding the risks to a business strategy, rather than understanding and managing the risks of the strategy itself. While the protection of existing assets is necessary, a diet of pure risk aversion likely will lead to extinction.
Content: Article | Authors: Frederick Funston, Henry Ristuccia, Stephen Wagner | Source: “Deloitte Review” | Subject: Risk Management