From the new Spark whitepaper, Risk: The Missing Link Connecting Strategy to Implementation, co-authored with Jamie Notter (JamieNotter.com) and Leslie White (Croydon Consulting):
Risk management is an intrinsic part of strategic thinking. When considering a strategy, you must first determine whether that strategy aligns with your risk appetite…The biggest challenge associations face in establishing a culture of strategic risk management is to get people comfortable thinking and talking about what could go wrong—or right—on the way to realizing your excellent new ideas. The key is to match your risk exposure to your risk appetite, while not undervaluing potential lost opportunity.
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