Think Risk: A Practical Guide to Actively Managing Risk

Description

Risk is the single most prevalent and enduring factor that influences every individual, organization, and society. We often seek protection from negative risk events, but also seek to take advantage of opportunities arising from positive risk events. We may feel overwhelmed by messages encountered in daily interactions with media and society, contributing to a sense of ambiguity over how to act in response to risk-related information and misinformation. We seek to leverage evidence and reason to find our own balance between both positive and negative outcomes in an uncertain world. This ground-breaking book delivers practical concepts and tools that empower readers to leverage innovations in risk science to improve their abilities to interpret, assess, communicate, and handle risk. It provides a practical non-quantitative approach to understanding risk and to making better decisions involving risk. Think RISK covers several key themes in risk science: a) The main goals and strategies for understanding and managing risk b) How readers can inform their risk stances by considering their own individual values and mission c) The difference between risk and safety, and how that difference is critical for managing risk d) The role of psychological factors when understanding and managing risk e) The role of communication when understanding and managing risk, and f) The general importance and incentives for effectively understanding and managing risk. Written for business professionals in all private and public sectors, this book will also be relevant to non-business professionals such as medical practitioners and policymakers and would be an ideal fit for executive education and seminar-style courses in universities, corporate books clubs and training seminars. Because it’s based on foundational and scientifically accepted ideas and principles, the book should remain relevant for many years. Cover Half Title Title Copyright Contents Preface Rule 1 Risk is the single most constant and enduring factor in our lives and professions 1 The heart of risk science makes sense 2 We can agree to disagree on risk and uncertainty 3 Risk is about knowledge Rule 2 We do have some control, but not full control. When we accept this, we can actively manage that risk 4 You have some control 5 Risk is not objective 6 We are all biased 7 The message matters 8 Risk is not just about dollars Rule 3 Risk can be a good thing 9 To manage risk is to balance the positive and the negative 10 Risk management is worth the time and energy 11 To manage risk is for our own benefit 12 Piecing it all together: Examples of the risk science process 13 Conclusion Appendix I: The many definitions of risk Appendix II: Other risk-related definitions About the authors Index