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Perspectives on strategic risk management / Torben Juul Anderson, editor.
- Format:
- Book
- Language:
- English
- Subjects (All):
- Risk management.
- Strategic planning.
- Physical Description:
- 1 online resource (205 p.)
- Edition:
- 1. ed.
- Place of Publication:
- Kge, Denmark ; Herndon, VA : Copenhagen Business School Press, 2006.
- Language Note:
- English
- Summary:
- "Operating across international markets is a highly turbulent affair that imposes real challenges on corporate risk management capabilities. The multinational corporation is exposed to many diverse risks and exogenous influences beyond managerial control but also attain new strategic opportunities. The exposures range from price volatilities, changing macroeconomic conditions, and operational disruptions to technological innovations, competitive moves, and socio-political events. Strategic risk management can reduce the adverse effects from these exposures but may also furnish gains from new opportunities. This book relates to the need for effective strategic risk management practices that facilitate the ability to monitor essential exposures and respond appropriately to changing environmental conditions. "
- Contents:
- Perspectives on Strategic Risk Management
- Introduction/Preface
- Acknowledgements
- CHAPTER 1 Performance Effects of Risk Management
- Introduction
- Global Derivatives
- Capital Structure and Risk Management
- Hypotheses
- Methodology
- Data and Measures
- Analyses
- Results
- Discussion
- Conclusions
- References
- CHAPTER 2 Risk Management
- Editorial Comment
- Developing Focus
- Definition of Risk and Risk Management
- Objectives of Risk Management
- Perspectives from the Insurance World
- Risk Management
- Risk Identification
- Risk Evaluation
- Risk Control
- Risk Financing
- Risk Monitoring/Reporting
- Conclusion
- CHAPTER 3 The Risk-Return Effects of Strategic Responsiveness: A Simulation Analysis
- Organizational Learning and Strategic ResponseCapabilities
- The Simulation Model
- CHAPTER 4 Impediments to Effective Risk Management
- Academic and Practitioner Views on Impediments toEffective ERM Programs
- In Search for Patterns
- Risk Management Practice in Danish Companies
- Key barriers to Managing Risk on a More Enterprise-Wide Approach
- Overview
- Low Recognition of the Benefits
- Strategy
- Style and Shared Values
- Structure
- Staff, Skills and Systems
- Limitations of the Research
- Summary
- CHAPTER 5 Risk and Complexity in Social Systems: The Case of the "Business Risk Audit"
- The System of Auditing
- Perrow's Theory of Risk in Systems
- The Business Risk of Audits
- Conclusion and Perspectives
- CHAPTER 6 Contemporary Enterprise-Wide Risk Management Frameworks: A Comparative Analysis in a Strategic Perspective
- The Four Frameworks
- Framework Structure and Components
- 1. DeLoach's EWRM.
- 2. COSO's ERM
- 3. FERMA (The UK Risk Management Standard)
- 4. AS/NZS 4360:2004 (The Australian/New ZealandRisk Management Standard)
- The Claim for Enterprise-Wideness
- Framework Linkage to the Strategy Process
- Linkage to Strategy Formation
- Linkage to Strategy Implementation
- Prioritizing and Communicating Key Risks
- Risk in the Light of Opportunity
- CHAPTER 7 An Integrative Framework for Multinational Risk Management
- Exposures and Hedging
- Arguments for Hedging
- Risk Management and Alternative Risk-Transfer
- Financial and Market-Related Risks
- Casualty, Catastrophe, and Terrorism Risks
- Competitive and Strategic Risks
- Integrative Risk Management
- CHAPTER 8 Seeking Meaningful Country-Risk Information: A Wealth of Information, a Void in Understanding
- Country-Risk Analysis
- Country-Risk Analysis is Born
- Country-Risk Ratings
- The Problem with Risk Ratings
- Making Sense of Country Risk Information
- Conclusions and Implications
- CHAPTER 9 Catastrophe Risk Analysis and Disaster Financing: A Country Perspective
- Risk Management in a Country Setting
- Adopting Formal Risk Analysis to Manage Exposures
- Insurance and Other Risk-Transfer Arrangements
- Pooled Insurance Programs
- CHAPTER 10 Options Reasoning and Strategic Responsiveness: Discussion and Empirical Assessment
- The Options Perspective in Strategy-Making
- The Performance Dynamic of Options
- Strategy Processes and Options Creation Capabilities
- Appendix.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Includes bibliographical references (p. 197-204).
- ISBN:
- 87-630-9981-0
- OCLC:
- 774280261
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