Managing Risk, Uncertainty, and the Unknown in an Unruly World

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Torben Juul Andersen, Professor of Strategy and International Management at the Copenhagen Business School

Managing Risk, Uncertainty, and the Unknown in an Unruly World

How should we deal with radical uncertainty and the emergence of abrupt and surprising events that unexpectedly arise from the global business environment as it evolves?
This constitutes one of the major challenges of our time for corporate and societal leaders. Many of these emergent exposures can have strategic consequences with extreme outcome effects that extend well beyond the confines of individual organizations and thus call for collaborative solutions.

The answer is not to impose stringent control-based risk management practices on the organization.

Rather, it is the ability to form organizational settings of individual observance, experimentation, and open inclusive communication that can compound the essential ingredients for developing effective strategic response capabilities to deal with the unexpected.

Organizations and other social systems are more responsive when they create conditions for autonomous initiatives that can deal with emergent changes as the means to gain updated experiential insights where viable solutions are forged by honing the implied collective intelligence of engaged stakeholders.

We will consider these and other timely risk leadership challenges.

This is from the conference "Uncertainty Management - Risk Management in a Rapidly Changing World". Read about the conference themes here.

About the speaker:

Torben Juul Andersen is professor of Strategy and International Management at the Copenhagen Business School.
He previously taught strategy and financial economics at George Mason University and Johns Hopkins University, and served in executive positions with Citibank, N.A., Citicorp Investment Bank Ltd., Unibank A/S, and PHB Hagler Bailly.
He is an Honorary Fellow of the Institute of Risk Management (IRM). He holds an MSc. Economics (cand. polit.) degree from the University of Copenhagen, an MBA from McGill University, and a PhD from the University of North Carolina at Chapel Hill.

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Managing Risk, Uncertainty, and the Unknown in an Unruly World

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