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It is widely acknowledged that economic value in corporations cannot be created without the retention of some risk. While this leads to a need for the integration of risk management and strategic planning, academia has overwhelmingly treated the two in isolation. In this book, Tarek En-Nazer presents a survey of the risk management practices among Austria´s 350 largest nonfinancial companies. The survey provides two major insights: first, managers understand the need of integrating risk and strategic management but lack the expertise and management tools to achieve this. Second, Miles and Snow´s proposition that each generic corporate strategy entails specific threats is supported. The author develops a model of Strategic Risk Management, consisting of three steps in a continuum: the definition of risk appetite, the choice of strategy and the identification of strategic risks. Referring to this model will help management identify those risks that must be retained to achieve long-term corporate goals. It thus represents an important step in bridging the gap between risk and strategic management.

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Tarek En-Nazer, Magister: Studied International Business at the Vienna University of Economics and Business with a focus on finance and strategic management.

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