Summary

Patrick McConnell

This book, about the management of Strategic Risks, is divided into three distinct parts.

    • Part I introduced some of the key concepts in the book, in particular strategic risks and the enormous losses to shareholders’ wealth that can result from failures to manage such risks. The chapters in this part also discussed concepts such as business model, strategic positioning risk, and strategic execution risk.
    • Part II described some case studies of strategic risk, in particular failures of large firms as a result of flawed growth and acquisition strategies. The difficulties of executing innovation and technology strategies were also discussed using appropriate case studies.
    • Part III discussed some of the tools and techniques for the management of strategic risks based on already widely used models from strategy development.

It is not necessary to repeat the descriptions of these chapters here but instead to summarise some of the key themes that appear throughout the book, as these create the conditions in which strategic risks emerge.

STRATEGY IS IMPORTANT

A firm without a strategy is like a ship with a damaged rudder, buffeted by

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