Global Risk Agility and Decision Making (eBook)
XXXI, 415 Seiten
Palgrave Macmillan UK (Verlag)
978-1-349-94860-4 (ISBN)
In Global Risk Agility and Decision Making, Daniel Wagner and Dante Disparte, two leading authorities in global risk management, make a compelling case for the need to bring traditional approaches to risk management and decision making into the twenty-first century. Based on their own deep and multi-faceted experience in risk management across numerous firms in dozens of countries, the authors call for a greater sense of urgency from corporate boards, decision makers, line managers, policymakers, and risk practitioners to address and resolve the plethora of challenges facing today's private and public sector organizations.
Set against the era of manmade risk, where transnational terrorism, cyber risk, and climate change are making traditional risk models increasingly obsolete, they argue that remaining passively on the side-lines of the global economy is dangerous, and that understanding and actively engaging the world is central to achieving risk agility. Their definition of risk agility taps into the survival and risk-taking instincts of the entrepreneur while establishing an organizational imperative focused on collective survival.
The agile risk manager is part sociologist, anthropologist, psychologist, and quant. Risk agility implies not treating risk as a cost of doing business, but as a catalyst for growth. Wagner and Disparte bring the concept of risk agility to life through a series of case studies that cut across industries, countries and the public and private sectors. The rich, real-world examples underscore how once mighty organizations can be brought to their knees-and even their demise by simple miscalculations or a failure to just do the right thing. The reader is offered deep insights into specific risk domains that are shaping our world, including terrorism, cyber risk, climate change, and economic resource nationalism, as well as a frame of reference from which to think about risk management and decision making in our increasingly complicated world.
This easily digestible book will shed new light on the often complex discipline of risk management. Readers will learn how risk management is being transformed from a business prevention function to a values-based framework for thriving in increasingly perilous times. From tackling governance structures and the tone at the top to advocating for greater transparency and adherence to value systems, this book will establish a new generation of risk leader, with clarion voices calling for greater risk agility. The rise of agile decision makers coincides with greater resilience and responsiveness in the era of manmade risk.
Daniel Wagner is CEO of Country Risk Solutions-a cross-border risk advisory firm based in Connecticut (USA). Daniel has been a cross-border risk management professional in the private and public sectors since 1988, having worked for (among others) AIG, GE, the Asian Development Bank, and World Bank Group. He is considered an authority on country risk analysis. Having published more than 500 articles on risk management and current affairs, Daniel is a regular contributor to The National Interest, South China Morning Post, and Huffington Post, and many others. He holds master's degrees in International Relations from the University of Chicago and in International Management from the American Graduate School of International Management (Thunderbird) in Phoenix. Daniel received his bachelor's degree in Political Science from Richmond College in London. His two previous books were Political Risk Insurance Guide and Managing Country Risk. He has traveled in more than 80 countries around the world.
Dante Disparte is an entrepreneur, business leader, and global risk expert. He is the founder of CEO of Risk Cooperative, an innovative strategy and risk advisory firm based in Washington, DC. Dante serves on the board of the American Security Project, where he chairs the Business Council. He is a frequent speaker and commentator on business and political issues shaping the world. From entrepreneurship, where he was invited by the White House to speak at the Global Entrepreneurship Summit in Kenya, to risk, economic competitiveness, and security issues, Dante's wide ranging views are regularly featured in leading publications. A graduate of Harvard Business School, where he chairs the DC alumni association and sits on the global alumni board, Dante also holds an MSc in Risk Management from the NYU Stern School of Business and a BA in International and Intercultural Studies from Goucher College. He is fluent in six languages and has conducted business all over the world.
In Global Risk Agility and Decision Making, Daniel Wagner and Dante Disparte, two leading authorities in global risk management, make a compelling case for the need to bring traditional approaches to risk management and decision making into the twenty-first century. Based on their own deep and multi-faceted experience in risk management across numerous firms in dozens of countries, the authors call for a greater sense of urgency from corporate boards, decision makers, line managers, policymakers, and risk practitioners to address and resolve the plethora of challenges facing today's private and public sector organizations.Set against the era of manmade risk, where transnational terrorism, cyber risk, and climate change are making traditional risk models increasingly obsolete, they argue that remaining passively on the side-lines of the global economy is dangerous, and that understanding and actively engaging the world is central to achieving risk agility. Theirdefinition of risk agility taps into the survival and risk-taking instincts of the entrepreneur while establishing an organizational imperative focused on collective survival.The agile risk manager is part sociologist, anthropologist, psychologist, and quant. Risk agility implies not treating risk as a cost of doing business, but as a catalyst for growth. Wagner and Disparte bring the concept of risk agility to life through a series of case studies that cut across industries, countries and the public and private sectors. The rich, real-world examples underscore how once mighty organizations can be brought to their knees-and even their demise by simple miscalculations or a failure to just do the right thing. The reader is offered deep insights into specific risk domains that are shaping our world, including terrorism, cyber risk, climate change, and economic resource nationalism, as well as a frame of reference from which to think about risk management and decision making in ourincreasingly complicated world. This easily digestible book will shed new light on the often complex discipline of risk management. Readers will learn how risk management is being transformed from a business prevention function to a values-based framework for thriving in increasingly perilous times. From tackling governance structures and the tone at the top to advocating for greater transparency and adherence to value systems, this book will establish a new generation of risk leader, with clarion voices calling for greater risk agility. The rise of agile decision makers coincides with greater resilience and responsiveness in the era of manmade risk.
Daniel Wagner is CEO of Country Risk Solutions—a cross-border risk advisory firm based in Connecticut (USA). Daniel has been a cross-border risk management professional in the private and public sectors since 1988, having worked for (among others) AIG, GE, the Asian Development Bank, and World Bank Group. He is considered an authority on country risk analysis. Having published more than 500 articles on risk management and current affairs, Daniel is a regular contributor to The National Interest, South China Morning Post, and Huffington Post, and many others. He holds master’s degrees in International Relations from the University of Chicago and in International Management from the American Graduate School of International Management (Thunderbird) in Phoenix. Daniel received his bachelor’s degree in Political Science from Richmond College in London. His two previous books were Political Risk Insurance Guide and Managing Country Risk. He has traveled in more than 80 countries around the world.Dante Disparte is an entrepreneur, business leader, and global risk expert. He is the founder of CEO of Risk Cooperative, an innovative strategy and risk advisory firm based in Washington, DC. Dante serves on the board of the American Security Project, where he chairs the Business Council. He is a frequent speaker and commentator on business and political issues shaping the world. From entrepreneurship, where he was invited by the White House to speak at the Global Entrepreneurship Summit in Kenya, to risk, economic competitiveness, and security issues, Dante’s wide ranging views are regularly featured in leading publications. A graduate of Harvard Business School, where he chairs the DC alumni association and sits on the global alumni board, Dante also holds an MSc in Risk Management from the NYU Stern School of Business and a BA in International and Intercultural Studies from Goucher College. He is fluent in six languages and has conducted business all over the world.
Preface 8
The Illusion of Effective Risk Management 9
The Unforeseen Versus the Unknown 10
Acknowledgements 14
Dante Disparte 14
Daniel Wagner 15
Contents 16
About the Authors 18
Dante Disparte 18
Daniel Wagner 19
Praise for Global Risk Agility and Decision Making 22
List of Abbreviations 26
List of Illustrations 30
List of Tables 32
Part I: The Risk Management Conundrum 33
1: Risk Management in a Global World 34
Declaring Battle 34
The Global Risk Landscape 35
Evolving Perceptions of Risk 38
Preparing for Global Shocks 41
Taking a Broader View of Risk 43
Global Risk Agility 45
2: Risk Management as a Process 48
Risk Is a Process Not an Event 48
Current Frameworks and Their Utility 51
Classical Risk Management Frameworks 53
Matching Process with Process 55
Evolving Over Time 57
Risk in the Asset-less Economy 58
Complex Systems Fail in Complex Ways 61
Agile Risk Control 65
Gaining Agility and Speed 67
3: The Risk Continuum 71
Out of Sample Events: Hurricanes 72
Macro Agility in Panama 74
Anti-Risk Agility: Neglect, Bankruptcy, and Crime in the Caribbean 76
How Kings Fall 79
Cities at Risk 80
Reputation Risk Has a Price 84
Anything in the Name of Growth 85
Municipal and Sovereign Risk 87
A New Host for Systemic Risk 89
A National CRO 93
In Search of Causality While Ignoring Change 94
4: Complexity Reduction 97
Sunlight Is the Greatest Disinfectant 98
The First and Last Line of Defense 102
Values in Action 107
Primordial Lesson 110
Tempering Values with Risk Taking 111
Absence of Evidence 112
Analysis Paralysis 113
Entrepreneurialism 114
Complexity, Capital, and Supply Chains 117
Simplicity Is the Key 119
5: Three-Dimensional Risk Management 125
One-Dimensional Risk Management and the Placebo Effect 127
Agile Risk Culture 133
Assessing Risk Culture 134
Lessons from Entrepreneurs 135
Unequal Resilience 137
Risk Agility Meets Mobility 138
Mobility Curtailed 140
Expatriate Risk 141
Antiagile 142
Part II: The Global Risk Labyrinth 146
6: Terrorism 147
A Globalization Backlash 147
The Importance of Perceptions 150
Some Surprising Terrorism Facts 152
The Economic Cost of Terrorism 155
Cost-Effective Terrorism 157
The Impact of Terrorism on Foreign Direct Investment 159
Why It Is so Difficult to Stop the Funding of the IS 166
What the IS Is Teaching the West About Social Media 169
Implications for Business 171
7: Economic and Resource Nationalism 173
Economic Nationalism’s Rise 173
Bolivia’s Indigenous President 175
Argentina’s History Lesson 178
A New Era for Papua New Guinea? 180
It Takes Two to (Con)Tango 181
Systemic Corruption Creates Risk 183
Lessons Unlearned 183
Pakistan’s Message to Foreign Investors 185
A Bad Deal 185
Extractive Enterprises Are Particularly Vulnerable 186
Lessons Learned 187
The Impact of Energy Resources on Bilateral Relations 188
Myanmar’s Strategic Energy Play 188
You Can’t Always Get What You Want 189
The Lady and the Dragon 190
Beating the West at Its Own Game 191
China and the Rule of Law 192
Do Sanctions Actually Work? 194
How Sanctions Can Backfire 196
Conclusion 199
8: Climate Change 201
De-risking Climate Change 206
The Readiness Dilemma 209
A Private Sector Response 216
A Return on Misfortune 218
For Rising Tides, Deeper Pools 220
9: Cyber Risk 226
Business Models for Ransom 228
Cyber Terrorism 229
Time for a Cyber FDIC 232
The Internet of Things 235
Flash Crash…and Burn 239
The Perfect Storm 242
Blurred Lines 243
Agile Threat … Agile Response 244
Is Cyber Risk to Be Feared or Respected? 245
10: Corporate Social Responsibility 248
Shades of Grey 248
Governing Principles 250
CSR and Globalization 251
The Social Risk Landscape 253
Managing Strategic Partnerships 255
CSR and Shareholder Value 256
What Consumers Really Want 258
Challenges Companies Can Bring Upon Themselves 261
GE 261
Pepsi 262
Promoting Social Responsibility in the Developing World 264
The Project Finance Challenge 264
The Importance of CSR 265
Public/Private Sector Collaboration 267
Information Sharing 267
The Path Forward 268
Conclusion 269
11: Country Risk Management 271
Defining Country Risk 271
Country vs Sovereign vs Political Risk 272
Effective Country Risk Management in the New Normal 274
The Boardroom Vacuum 275
How the Arab Awakening Impacted Country Risk Analysis 277
Is Country Risk Really Rising? 280
Trade Protectionism Largely Absent 281
An Evolving Perception of Risk 282
What the Euro Crisis Implies About Managing Country Risk 283
Rising Social and Political Risks 285
Common Sense Political Forecasting 287
Why Every Manager Needs to Be a Country Risk Manager 289
Part III: Effective Decision Making 291
12: Transactional Risk Management 292
Elements of an Effective Risk Management Process 293
Embracing Best Board Practices 296
Having the Right Tools and Orientation 298
Engaging Successfully with the World 299
Myth Busting 300
Necessary Transformation 302
Using the Right Tools/Asking the Right Questions 304
Economic Growth 308
Economic Health 309
Power Sector 309
Risk Manager Beware 312
13: Anticipatory Risk Management 314
Self-induced ‘Grey Swans’ 315
Transitioning Away from Enterprise Risk Management 318
The Importance of Having an Informed Board 320
The Moral Compass Imperative 323
Making the Right Choices 324
Business Continuity Management 326
Crisis Management: Managing the Media 327
Staying Ahead of the Curve 330
14: Risk Governance 332
Governance Structures and Paralysis 334
The Sad Case of the U.S. Export–Import Bank 335
Separation of Powers 337
The Effect of Motives, Incentives, and Opacity 339
Risk-taking Without Bearing Consequences 340
Considering Secondary Impacts and the Value of Thoughtful Planning 344
Planning for Future Shocks to the System 347
Purposely Complex and Ambiguous Risk Governance 350
15: Conclusion 354
Failing Forward 354
Adaptability and Agility 356
The Risk-Ready Firm 357
The False Positives of History 358
A Fear-Based Approach to Risk 359
Risk Taking and Entrepreneurialism 361
Whales, Rogue Traders, and Accountability 362
Doing the Right Thing 363
Building Trust in the Digital World 364
The Importance of Looking Beyond the Headlines 366
Down and Out in Brazil 367
Praying for the Tourists in Thailand 368
The Importance of Unvarnished Opinions 369
Everyone’s Opinion Is Valuable 370
Globalization’s Backlash 371
The Rise of the Global Middle Class 373
The (Fr)Agile Balancing Act 375
Bibliography 377
Index 407
| Erscheint lt. Verlag | 12.8.2016 |
|---|---|
| Zusatzinfo | XXXI, 415 p. 24 illus. |
| Verlagsort | London |
| Sprache | englisch |
| Themenwelt | Recht / Steuern ► Wirtschaftsrecht |
| Technik | |
| Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
| Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre | |
| Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management | |
| Schlagworte | agile management • climate change • Climate Change Management • country risk analysis • cyber risk • foreign policy • insurance • Investments and Securities • Managing Risk • modern risk • Organizational Effectiveness • Strategic Planning • terrorism |
| ISBN-10 | 1-349-94860-8 / 1349948608 |
| ISBN-13 | 978-1-349-94860-4 / 9781349948604 |
| Haben Sie eine Frage zum Produkt? |
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