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Great companies become great because they seek out and exploit intelligent risks, not because they avoid all risk. Strategic Risk Taking: A Framework for Risk Management is the first book to take this broader view, encompassing both risk hedging at one end of the spectrum and strategic risk taking on the other. Here, Damodaran helps you separate good risk opportunities from bad risk threats , showing how to utilize the former while protecting yourself against the latter.
He introduces powerful financial tools for evaluating risk, and demonstrates how to draw on other disciplines to make these tools even more effective. Simply put, Damodaran has written the first book that helps you use risk to increase firm value, drive higher growth and returns, and create real competitive advantage.
His researchinterests include valuation, portfolio management, and applied corporate finance. Companies are learning today that is far too narrow and constraining a definition. Risk, exploited judiciously, is absolutely central to business success.
In Strategic Risk Taking: A Framework for Risk Management, Aswath Damodaran covers both sides of the risk equation, offering a complete framework for maximizing profit by limiting some risks and exploiting others. Damodaran presents a thorough and insightful review of the state-of-the-art in risk measurement, hedging, and mitigation.
He covers a broad spectrum of risk assessment tools, including risk adjusted value, scenario analysis, decision trees, VAR, and real options.
But Damodaran goes far beyond other treatments of the subject, helping you decide when to deliberately increase exposure to certain risks, and clearly assess the potential dangers and payoffs of doing so.
Strategic Risk Taking: A Framework for Risk Management (paperback)
Strategic Risk Taking : A Framework for Risk Management (paperback)
Strategic Risk Taking: A Framework for Risk Management