Business Plan Risk

Business Plan Risk-24
One falls along a narrow, steep curve, indicating a low risk of failure and little upside opportunity.

One falls along a narrow, steep curve, indicating a low risk of failure and little upside opportunity.

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It may be easiest to describe strategic risk by what it is often confused with—operational risk.

Good operations mean doing things right, while good strategy means doing the right things.

Most strategic planning considers only this peak while ignoring the slopes to either side.

But imagine two strategic initiatives, each with a similar expected result.

Strategic risk arises when a company fails to anticipate the market’s needs in time to meet them.

A company that has unmatched manufacturing processes will still fail if consumers no longer want its products.

Here, downside risk has been minimized, and upside opportunity increased.

That is the goal of strategic risk management: to shape the curve in a way that favors success.

Strategic risk management: shifting the curve Now imagine a third curve with that same expected result.

This one rises steeply from the left but slopes more gently downward on the right.

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