Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposures, and Seize Opportunities

By John J. Hampton | Go to book overview

CHAPTER 12
STRATEGIC RISK

RISK QUOTE: There is no reason anyone would want a computer
in their home
.

—KEN OLSEN, PRESIDENT, CHAIRMAN AND FOUNDER
OF DIGITAL EQUIPMENT CORPORATION, 1977

RISK QUOTE: 100 percent of the shots you don’t take don’t go in.

—WAYNE GRETZKY, PROFESSIONAL HOCKEY PLAYER

The first part of this story builds upon the article “Why the Economy Is a Lot Stronger Than You Think” by Michael Mander, which appeared in the February 13, 2006, issue of Business Week. Prior to the 2008 financial crisis, risk existed but somehow did not seem to be difficult to forecast; however, the crisis has given new urgency to understanding strategic risk.
Strategic Risk
Strategic risk is the positive or negative impact of risk on an organization in the following conditions:
Risk Identification. The upside is opportunity to achieve a goal. The downside is the possibility of loss.
Problem Solving. Defining a problem correctly allows the pur-

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