Summary of Surviving and Thriving in Uncertainty

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Surviving and Thriving in Uncertainty book summary
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Rating

8 Overall

9 Applicability

8 Innovation

7 Style

Recommendation

Hurricanes, earthquakes, floods, economic crises, political uprisings, financial panics: These “once-in-a-lifetime” events seem to be occurring with increasing regularity, and companies are scrambling to stay abreast. Risk management practices can protect your firm’s assets, but surviving a corporate ordeal is no longer enough; today, firms must grow and thrive amid ambiguity, information overload and, often, chaos. Consultants Frederick Funston and Stephen Wagner show you how to upgrade your risk management to “risk intelligence” so you can find opportunities amid crises. They interviewed military professionals, first responders, mountain climbers and astronauts, along with business leaders, to get the inside track on what dealing with risk for a living is like. Their book presents knowledge that may be familiar to informed readers, but the authors package it in a user-friendly format, interspersing their ideas with interview excerpts, case studies and useful questions to guide firms in undertaking new risk intelligence efforts. getAbstract recommends their work to directors, CEOs and risk managers.

In this summary, you will learn

  • Why firms must find value amid risk,
  • Why “risk intelligence” trumps risk management and
  • How to develop and implement 10 “risk intelligence skills.”
 

About the Authors

Stephen Wagner recently retired from Deloitte & Touche LLP, where Frederick Funston is a principal. Funston pioneered the concept of risk intelligence.

 

Summary

Risky Business
Events can overcome businesses rapidly, showing the danger of unmanaged risk. Take the 2008 fiscal crisis: In just three weeks that March, Bear Stearns collapsed after 85 years in business. British money manager Peloton, having earned 87% returns on $10 billion in clients...

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    Janet Chalfant 6 years ago
    Wagner and Funston challenge my thinking about risk taking. Great examples are referenced from which we all can learn...

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