Creating Value by Taking Chance

Description

This e-book explains creating value by exploiting the opportunities found in risk by implementing strategic risk management in organizations. Due to the focus on the creation of value, the author has substituted the word “uncertainty” for “risk”. In the same context other synonyms such as taking chance, threat, vulnerability, volatility, and hazard have been used where appropriate. Following a short review of historical background and an overview of the developments in uncertainty manage-ment, the components of strategic uncertainty management are described. The author introduces a strategic management framework and “the triple bottom line” performance measurement concept to define organizations’ value creation. Finally, an example of how strategic uncertainty management helps organizations to create value is presented by illustrating how Apple Inc. created immense value over time.