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Strategic risk management

Mapping the commanding heights and hazards

Strategy can be seen as preparation for effective operations. It develops the organisation's market position and its core competencies. Effective strategy enables the creation of intangible assets that today usually account for more than half of companies’ market value. Intangible assets can be effectively measured by actuarial appraisal values. Strategic risk (defined as the risks to the intangible assets created by good strategies) can also be evaluated using appraisal values and modelling.

In a paper presented at the 2007 Institute of Actuaries Biennial Convention, Andrew Gale and Anthony Asher, suggest using scenario planning, Delphi techniques and real option analysis to develop comprehensive strategic plans that also address the risks threatening their successful implementation.

Attachment
Strategic risk management (391KB PDF)
Paper prepared for the Institute of Australian Actuaries