The Two Headed Coin: Unifying Strategy and Risk in Pursuit of Performance (Wiley Finance) - Hardcover

Über die Autorin bzw. den Autor

DR. JAMES L. DARROCH is currently CIT Chair in Financial Services, Schulich School of Business, York University and Associate Professor, Policy, Schulich School of Business, York University. James is a sought-after expert in strategy and financial services education. In 2017, James and his co-author Patricia Meredith won the distinguished Donner Prize (award for the best public policy book by a Canadian) for Stumbling Giants: Transforming Canada’s Banks for the Information Age.

DAVID WM. FINNIE is a senior corporate executive with over 20 years’ experience leading large and mid-sized multinationals and Fortune 100 companies in the building and optimization of their financial, capital, and risk management strategies and capabilities. In addition to risk management expertise, he also offers strengths as a strategic business leader helping to define and implement business growth strategies and drive new business development. David has published four short articles on risk management, governance, and strategy.

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Praise for THE TWO HEADED COIN

“David and James bring the keen eyes of experienced practitioners, theorists, and educators to The Two Headed Coin. That unique combination of perspectives is necessary to convey to others the successful integration of strategy and risk to our pursuit of corporate goals. This ambition is at the heart of their book and I enjoyed the opportunity to read it.”
―David R. Koenig, author, Governance Reimagined and The Board Member’s Guide to Risk

“I greatly enjoyed reading this book. The use of a readily understood business to provide examples of the concepts developed through the book is helpful in putting risk, strategy, governance, and the integration of these into the practical context of real life.”
―Francois Desjardins, former President and CEO, Laurentian Bank

EXPLORE THE VITAL AND UNBREAKABLE CONNECTION BETWEEN RISK AND STRATEGY

Although it’s often relegated to an isolated silo, risk management is a fundamental part of strategic planning. And in The Two Headed Coin, authors James L. Darroch and David Wm. Finnie show you the interplay between the two interconnected forces of risk and strategy. You’ll discover how to identify those risks that are essential to the strategic positioning and goals of your organization and those that can be translated into risks that the organization has the capability to manage.

A rigorous and practical perspective on competitive advantage undergirds and informs more specific discussions of individual executive and leadership positions like the Chief Risk and Executive Officers. You’ll also find out how an unrelenting focus on culture and ethics can minimize the risk of sustaining large losses caused by aberrant and adverse behaviors. Finally, you’ll learn how to use real options and scenario planning to create an uncertainty management framework.

Ideal for professionals who manage risk in financial institutions, The Two Headed Coin is an indispensable resource for business leaders who hope to create enduring competitive advantage by integrating their organization’s concept of risk into their long-term strategic planning.

Aus dem Klappentext

In The Two Headed Coin: Unifying Strategy and Risk in Pursuit of Performance, distinguished risk and strategy professionals James L. Darroch and David Wm. Finnie deliver a wide-ranging and insightful analysis of the interplay and relationship between risk management and strategy in organizational success. The authors explore the tradeoffs and tensions between strategy and risk management, including how to determine which risks are fundamental to the strategic positioning of the firm and how non-fundamental risks can be managed to enhance performance.

Throughout the book, Darroch and Finnie focus on the importance of embedding risk management into every part of your organizational and strategic planning, creating an inclusive, integrated, and seamless process that captures the interdependencies that unite risk and strategy.

You’ll discover a thorough discussion of what competitive advantage actually means and how it relates to risk, as well as a fresh perspective on consumer reputation and perception as an asset to be managed. You’ll learn to use scenario planning and real options as a framework for managing uncertainty. Finally, you’ll find out how to focus on culture and ethics in order to minimize the risk of large losses caused by adverse behaviors.

The Two Headed Coin offers readers a modernized view of the Chief Risk Officer and how they have an invaluable role to play as part of the strategic process. Also, the importance of the Chief Executive Officer and their role as the locus of the reconciliation of strategic risk decisions is explored.

Perfect for risk management professionals in financial institutions, The Two Headed Coin is also an ideal resource for any executive, business leader, or manager who seeks to improve their ability to integrate strategic and risk thinking to create competitive advantage.