Jump to ContentJump to Main Navigation
Managing Risk and OpportunityThe Governance of Strategic Risk-Taking$
Users without a subscription are not able to see the full content.

Torben Juul Andersen, Maxine Garvey, and Oliviero Roggi

Print publication date: 2014

Print ISBN-13: 9780199687855

Published to Oxford Scholarship Online: June 2014

DOI: 10.1093/acprof:oso/9780199687855.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 02 April 2020

Risk, Risk Management, and Risk Governance*

Risk, Risk Management, and Risk Governance*

(p.5) 1 Risk, Risk Management, and Risk Governance*
Managing Risk and Opportunity

Torben Juul Andersen

Maxine Garvey

Oliviero Roggi

Oxford University Press

This chapter defines risk, risk governance and risk management and thus lays the cornerstone for the argument that value creating risk-taking is an essential activity in a well-governed and well managed enterprise. Value creation requires exploiting the upside risk without losing sight of the downside. The discussion which starts with a layman’s definition of risk presents a textured perspective on risk governance by drawing on corporate governance concepts. We use the differences between corporate governance and corporate management to make plain the relationship between risk management and risk governance and highlight how each activity creates value. The chapter then reviews recent guidance from the corporate governance community linking risk appetite to strategic planning and closes by advising a common sense approach by boards to their oversight of risk-taking. (128 words)

Keywords:   Corporate governance, Risk, Risk appetite, Risk management, Strategic planning

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .