STRATEGIC RISK || TRAINER ANIL MAURYA
Objective To learn how to manage strategic risk Key Learnings 1. What is Strategic Risk? Risks associated with business strategies and plans are called strategic risks. Strategic risk arises due to the failure or the absence of strategies to run any business. For example, in absence of any strategy to launch new products in the market may trigger "an innovation risk," which is a type of strategy risk. Strategic risk can also be defined from the perspective of liability risk. If you do not properly assess any liability and there is no liability coverage provision in your company, then this becomes a liability risk. For example, a company wants to work on a new project to expand its business. In this case, a project risk arises in case of: Project planning failure Improper planning Strategy failure Not getting a new project Missed deadline Project risk is also a type of strategy risk. All the aspects of business in which strategy or decision...