Title: Risk Management: From Portfolio Strategy to Value-Creating Systems Strategy
Abstract: This paper is concerned with those actions of business firms which are aimed at managing the business and economic and uncertainties. The example of management is finance and insurance but these only capture a small fraction of the business faced by a company in a competitive market. These standard are often dealt with through specialized activities but here what the firms do to manage their total market access risks is discussed. The analysis goes beyond, but includes, and builds on, insurable and financial to include in the firm's customer's processes, the use of IT in this process, and the economic system. The issues explored are: understanding the business logic and its risk; how offerings have become service offerings; management of and uncertainty in a more way. A new risk map is presented as a tool to analyze the management of in a systemic context argued to be more relevant to today's management challenges. This new, broader scope has new demands on knowledge and systems for effective management. As a conclusion, five historic steps are identified, tied to the new map, which show the gradual build-up of the product offering to a service offering and its actions to manage, and ultimately price, the management in the offering.
Publication Year: 2003
Publication Date: 2003-03-24
Language: en
Type: article
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