This book presents a fresh method of risk management that enables executives to believe systematically and strategically about future risks and deal proactively with threats with their competitive advantages in an ever more volatile, uncertain, complex, and ambiguous world.

Companies typically manage risks through traditional tools such as insurance and risk mitigation; some employ enterprise risk administration, which looks at risk holistically throughout the company. But these tools tend to about Strategic Risk Administration: New Tools for Competitive Benefit in an Uncertain Age focus organizational interest on past actions and compliance. Executives need to tackle risk head-on as an integral part of their strategic preparing process, not really by looking in the rearview mirror.

Strategic Risk Administration (SRM) is normally a forward-looking approach that helps teams anticipate events or exposures that fundamentally threaten or enhance a firm’s position. The writers, experts in both business strategy and risk management, define strategic risks and show how they differ from functional risks. They provide a street map that identifies architectural components of SRM (knowledge, principles, buildings, and tools) to show how market leaders can integrate these to effectively design and implement a future-facing SRM plan. SRM gives companies a competitive benefit over those stuck in outdated risk management practices. For the very first time, it allows these to appearance squarely out leading windshield.