The vast majority of today's business decisions with incomplete information and in the indefinite future. While risk can never be completely avoided, there are ways for managers to take into account the uncertainty in strategic planning. Indeed, effective decision-making depends on the managers clearly understand that their company can control and what factors are beyond its control. Systematic identification and risk assessment, frank discussion of risk tolerance, and use a variety of methods described here can go a long way to achieve effective strategic planning at risk. The author describes seven methods that can be used to reduce risk and uncertainty, including risk transfer and scenario analysis.
This article Rotman Magazine. "Hide
by David Robinson Source: Rotman School of Management, 5 pages. Publication Date: 01 May 2007. Prod. #: ROT045-PDF-ENG
Related Case Solutions & Analyses:
a-connect: In Search of Talent Partners (A)
State Street Corp.: Leading with Information Technology (B)
Origins of National Income Accounting
Cash Management Practices in Small Companies
Solar Geoengineering
Cengage Learning: Can Apax Partners Salvage This Buyout?
The Quest for Sustainable Public Transit Funding: SEPTA’s 2013 Capital Budget Crisis Sequel
INTELFRA Ltd.: Pricing Telecom Infrastructure in a Monopolistic Market
Kansas City Zephyrs Baseball Club, Inc. 2006
Lonestar Graphite
