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The modern business climate demands a new risk management strategy Mastering Strategic Risk
: A Framework for Leading and Transforming Organizations is a comprehensive guide to redesigning organizational systems to better manage the risks and complexities of the modern world. Based on the notion of "Create, Facilitate, and Support," the book provides a roadmap to ensuring optimum performance in even the most challenging circumstances. Whether applied to a system or an entire organization, the ideas presented can help unlock a business's potential and ensure a sustainable advantage. Modern business leaders face unprecedented challenges, and risk management has become a strategic priority. Traditional management frameworks are outdated, and cannot be re-tooled to effectively account for the demands and complexities of the 21st century. Instead of adjusting old, ineffective models, businesses are better served by implementing an entirely new model custom-built to lead organizations through today's business environment. Mastering Strategic Risk
describes this brand new framework, and provides the tools and background leaders need to remain effective in this new age.
Topics include: * The three forces behind customer behavior, competitive advantage, and a culture of discipline * New major change agents that drive complexity and intensity * Tools that help identify and mitigate the biggest risks to operations * A new HR model to drive peak performance and galvanize employees The book contains well-known real-world examples from Wachovia, Toyota, World-Com, and Citrix, that illustrate key concepts within the new framework and demonstrate the core elements of modern risk management. For the savvy leader looking to push an organization to the next level, Mastering Strategic Risk
: A Framework for Leading and Transforming Organizations provides a brand new model for effective management.
Mastering Strategic Risk
Preface xiii Acknowledgments xv INTRODUCTION Mastering the Complexities of a New Age 1 CHAPTER 1 The Round World, the Square Pegs: Redesigning Organizations to Manage the Risks of a Different World 5 Righting the Ship: Managing the Complexities of a New Age 5 The Untold Story of Wachovia s Demise: The Rise and Fall of an Industry Giant 7 A Symptom of a Much Larger Challenge 12 The Burning Platform: Why the Need for Change 14 Leveraging the Power of People 15 A World of Patterns: Does Nature Hold the Answers? 16 References 17 CHAPTER 2 The Three Elements: Creating, Facilitating, and Supporting Your Competitive Advantage 19 A Framework Taken from Nature 19 The Human Body as an Example 22 Ecosystems 25 The Three Elements and Our Marketplace 26 The Three Elements and the Auto Industry 31 The Three Elements and Organizations 32 The Creative Element in Organizations 34 Information Technology as an Example 36 Everything Old Is New Again 36 Summary 38 Questions 38 Note 39 References 39 CHAPTER 3 The Three Forces: Mastering Strategic Risk with Repetition, Balance, and Movement 41 Anticipating Change: Toyota 41 Three Forces that Dictate Performance in Systems 43 Movement and Change in Nature 44 Movement, Balance, and Repetition in Our Marketplace 48 Change, Balance, and Repetition in Organizations 51 The Three Elements and Forces and Our System of Government 54 The Federal Government Supports, Facilitates, and Creates: A Fractal View 57 The Federal Government and Oversight 58 A Holistic Approach 59 Summary 60 Questions 60 References 61 CHAPTER 4 Transforming the Corporate Agenda: Applying the New Learning to Master Strategic Risk 63 Aligning the Three Elements and Forces for Impactful Results 63 The Three Elements as Key Drivers of Organizational Performance 65 Creativity and Innovation through the Lens of Industry Leaders 67 Identifying Additional Centers of Creativity and Growth in the Most Unlikely of Places 71 Growth through Facilitative Functions and Capabilities 74 Growth through Supportive Functions and Capabilities 76 Repetition and Operational Excellence 78 Wachovia and Merger Integration 78 Managing Movement and Change 81 The Value of a Transformation and Change COE 81 The Importance of Measuring Key Controls and Activities 83 Assessing Key Drivers through the Universal Guide 85 Summary 88 Questio