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The Upside: From Risk Taking to Risk Shaping How to Turn Your Greatest Threat into Your Biggest Growth Opportunity,Used
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One of the business worlds most innovative thinkers explains how to take a unique, counterintuitive approach to the key issue for every business growth by turning big threats into big opportunities. The world is moving so quickly that every business in every industry faces big threats. Risk is one of those unpleasant realitiesalong with death and taxesthat most people would prefer to ignore. In fact, many people do ignore it as much as possible. On the rare occasions when they think about risk, most people, including business people, adopt a fatalistic attitude. 'Oh, well,' they shrug, 'No pain, no gain.' They accept the conventional wisdom that risk and reward go togetherthat to get great upside results (higherthanaverage profits, quantum leaps in growth), you need to take big downside risks. It's a painful but inescapable fact of life.But there are ways to anticipate threatening changes and turn them into successes. Risk and reward are not inextricably linked. The reality is that its possible to reduce the risks you face at the same time as you improve the returns you enjoy. In fact, its not only possible but essential. The leaders of todays most successful companies arent risk takers . . . theyre risk shapers. They think day and night about the risks they face and are continually working to develop and implement strategies to reduce them. Their attitude toward risk is the opposite of fatalisticit's aggressive, ruthless, and uncompromising.Managed correctly, the risks you face can be transformed into extraordinary growth opportunities.Risk is considered a fact of life like the weather, a threat you shouldnt even think about combating. After all, doesnt everyone know you can have high returns or low riskbut not both?Over the next halfdecade, the majority of business leaders will come to understand that risks can be not merely controlled but transformed into opportunities. Yet for now, this is a minority opinion. Those who grasp this insight early and put it to work in their industriesas a few farsighted managers have already donewill enjoy a huge advantage over their competition.
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