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Books > Business & Money > Finance > Corporate Finance > 1591399548
  1. Risk Intelligence: Learning to Manage What We Don't Know
    Risk Intelligence: Learning to Manage What We Don't Know
    Risk Intelligence: Learning to Manage What We Don't Know
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  2. Risk Intelligence: Learning to Manage What We Don't Know

    Delivery: 10-20 Working Days
    Customer Ratings (8 reviews)
    Price R375.00

Additional Information

Too many executives think risk management is strictly for technical specialists. In Risk Intelligence: Learning to Manage What We Don’t Know, David Apgar challenges this misconception. The author explains how to raise the quality of your risk analysis—-thus enhancing your “risk IQ”—-by applying four simple rules:
1) Recognize which risks are learnable—and reduce their uncertainty by discovering more about them.
2) Identify risks you can learn about the fastest. The higher your learning speed, the more a project is worth pursuing.
3) Take on risky projects one at a time—learning about the risks underlying each before moving to the next.
4) Build networks of business partners, suppliers, and customers who can collectively manage new ventures’ risks by playing distinct roles.

The book provides two tools for improving your risk IQ—the Risk Intelligence Audit and the Risk Scorecard—and concludes with a 10-step action plan for systematically raising your managerial and organizational risk IQ. Your reward? Smarter business decisions over time.

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Most Helpful Customer Reviews

This is an interesting book in Risk Management; it stresses the importance of separating learnable from non-learnable risks, and design strategies according to this.
It is not my style of book, but overall I have enjoyed reading it. I will provide a short summary of the book by going over the main concepts of each chapter.
Chapter 1 presents a general approach to risk management and focuses in the organization's ability to learn about the risks it is assuming. The general idea of the chapter is that a risk can be random or learnable, and a risk could be learnable for some firms and random for some others. The author states that the company needs to choose risk that can learn about, and "we must know what we are good at learning". The chapter offers four rules that are the response to four myths; they are:
+Myth 1: All Risks are Random. Rule 1: Recognize which risks are learnable.
+Myth 2: Since Risk average out, they rarely create persistent winners and losers... Read more
Risk management is a vital function for most rationally managed organizations. Any competent business plan or project proposal will include a section on risk mitigation. So what is risk? In essence it is anything that will hinder or prevent an organization from achieving its goals or purpose. Clearly then it is in an organization's interest to reduce the probability that a risk will occur through what is called `risk mitigation'. There are numerous methodologies to achieve this some good others more problematic. Yet effective risk mitigation can mean the difference between profit or loss and success or failure. It is far from a trivial matter.

Which brings us to this rather provocatively titled book, "Risk Intelligence", that provides a unique contribution to risk mitigation. Although Apgar does not say so, he uses the term `intelligence' in both its meanings namely, cognitive ability and processed information. He usefully divides risk into two categories `learnable' and... Read more
At work, I am doing software development planning. So I need a clear understanding of Risk Intelligence. So I bought this book.

The writer's argument is that all risk falls into two categories one is what is knowable and therefore can be learned, and the other unknowable so difficult to prepare. So what you should do is your projects as you learn!

As I went on, reading this book. I found it full of current examples that are at best dubious to prove his point. For example the US planners' miscalculation in Saddam's Iraq was not the WMD, but later in trying to create a secular democracy in a post-Saddam Iraq and underestimating the Muslim fundamentalist response. Nor were the Japanese clever planners so more advanced in alternatives to oil that gave them an advantage when the oil crunch occurred. It was because Japanese are generally smaller than Americans, so their cars are smaller. When the oil crunch occurred, they were already making smaller so more fuel... Read more
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