GovReads: Surviving and Thriving in Uncertainty

Hey GovLoopers

We’ve got a special edition GovReads this time, rather than reading a review you can actually sit down with the authors of “Surviving and Thriving in Uncertainty” and discuss the book and it’s issues... if you act quick!

Join @DeloitteGov for an Executive Forum featuring the authors of the newly published book on “Creating the Risk Intelligent Enterprise” and the Honorable Tom Ridge (former DHS secretary, PA governor and member of the House).

Despite intense scrutiny on transparency and risk identification, many senior government leaders have experienced limitations of conventional
risk management strategies in providing the important, mission-oriented
direction that is expected in the public realm. A new approach — risk
intelligence — moves leadership beyond traditional approaches to
deliver enhanced judgment and improved decision making.

Have 20 free passes available to GovLoop members, use code “risk” (case sensitive) and register here: http://bit.ly/bieJzw

And here’s a quick review just in case you really wanted it.

The ability of businesses to survive and thrive often requires unconventional thinking and calculated risk taking. The key is to make the right decisions—even under the most risky, uncertain, and turbulent
conditions.

In the new book, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise, authors Rick Funston and Steve Wagner suggest that effective risk taking is needed
in order to innovate, stay competitive, and drive value creation.

Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout
the world, Funston and Wagner discuss the adoption of 10 essential and
practical skills, which will improve agility, resilience, and realize
benefits:

• Challenging basic business assumptions can help identify “Black Swans” and provide first-mover advantage

• Defining the corporate risk appetite and risk tolerances can help reduce

• the risk of ruin.
• Anticipating potential causes of failure can improve chances of survival and success through improved preparedness.
• Factoring in velocity and momentum can improve speed of response and recovery.
• Verifying sources and the reliability of information can improve insights for decision making and thus decision quality.
• Taking a longer-term perspective can aid in identifying the potential unintended consequences of short-term decisions.