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    Creating Value by Taking Chance
    Creating Value by Taking Chance
    Creating Value by Taking Chance
    Ebook37 pages56 minutes

    Creating Value by Taking Chance

    By A. Afritopic

    ()

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    About this ebook

    This e-book explains creating value by exploiting the opportunities found in risk by implementing strategic risk management in organizations. Due to the focus on the creation of value, the author has substituted the word “uncertainty” for “risk”. In the same context other synonyms such as taking chance, threat, vulnerability, volatility and hazard have been used where appropriate. Following a short review of historical background and an overview of the developments in uncertainty management, the components of strategic uncertainty management are described. The author introduces strategic management framework and “the triple bottom line” performance measurement concept to define organizations’ value creation. Finally, an example of how strategic uncertainty management helps organizations to create value is presented by illustrating how Apple Inc. created immense value over time.

    LanguageEnglish
    PublisherA. Afritopic
    Release dateMay 30, 2016
    ISBN9781311119704
    Creating Value by Taking Chance

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      Book preview

      Creating Value by Taking Chance - A. Afritopic

      Creating Value by Taking Chance

      By

      A. Afritopic

      Copyright A. Afritopic

      Published by A. Afritopic at Smashwords

      1. Abstract

      This e-book explains creating value by exploiting the opportunities found in risk by implementing strategic risk management in organizations. Due to the focus on the creation of value, the author has substituted the word uncertainty for risk. In the same context other synonyms such as taking chance, threat, vulnerability, volatility, and hazard have been used where appropriate. Following a short review of historical background and an overview of the developments in uncertainty management, the components of strategic uncertainty management are described. The author introduces a strategic management framework and the triple bottom line performance measurement concept to define organizations’ value creation. Finally, an example of how strategic uncertainty management helps organizations to create value is presented by illustrating how Apple Inc. created immense value over time.

      2. Executive Summary

      Organizations strive to create value for stakeholders. This objective is not always easy to achieve due to uncertainty in the business environment. Over the years, organizations have used different approaches to manage uncertainty. A variety of procedures have been developed to control market volatilities, financial hazards, and vulnerabilities to natural disasters. While these uncertainty management processes might have been effective in the past, recent developments in the global market are inducing new uncertainties. Organizations realize the need to develop new uncertainty management concepts that can identify emerging uncertainties as well as capture opportunities that could be utilized to create value for stakeholders. This e-book presents the concepts and components of strategic uncertainty management found in the literature and explains their impact on value creation. Value in this paper is defined by the concept of the triple bottom line, which incorporates economic, social, and financial values. The implementation of value-creating uncertainty management models is described and

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