by Russell Walker (Northwestern University, USA)

About Russell Walker

This book develops the notion that companies can succeed on the basis of risk management, much as companies compete on efficiency, costs, labor, location, and other dimensions. The reality of risk and how it impacts companies is that it is much more definite, often catastrophic and looks more like a shock. This is striking, as a difference between firms on risk different than a marginal difference in operating efficiencies, for example. Competing on Risk Management requires a discipline, a commitment to using information and recognizing shocks and then acting upon those to redistribute assets. This book will examine how leading firms that compete on risk have done this and showcase best practices and impacts to the capital structure of firms and their organizational formation.

• Introduction to Risk
• Dealing with Risk in Business, Not Just in Financial Products
• Dealing with Shocks — Large Scale Risks Impacting Markets and Industries
• Risk in Operations Pose Risk to the Enterprise
• Reliance on Technology Increases Operational Risk — Often It Is Not Obvious
• Emphasis on Risk and its Relationship to Information: Risk Management Brings Flexibility
• Risk Management as a Corporate Competency
• Forming an Organization that Competes on Risk: Organizational Implications
• Communicating on Risk in the Enterprise
• Benefits of Competing on Risk
• Moving to Compete on Risk: Framework