Includes bibliographical references and index.

Introduction (Torben Juul Andersen) Part I: Rick Governance Perspectives 1. Complexity, Uncertainty and Ambiguity in Inclusive Risk Governance (Ortwin Renn und Andreas Klinke) 2. The Governance of Strategic Risk Taking (Maxine Lorraine Garvey) 3. Risk Management and Ethical Cultures (Peter C. Young, Douglas J. Jondle, T. Dean Maines and Michelle Rovang Burke) 4. The Key to Sustainable Risk Governance: Strong core values, delegation and accountability (Gregory L. Shaw and Torben J. Andersen) 5. The Risk Management Paradox: Enhanced focus on risk management seemingly doesn't pay off! (Peter Winther Schroder) Part II: The Management of Strategic Risk 6. Risk and Uncertainty: A taxonomy of strategies (Richard Friberg) 7. Reflections of Integrated Risk Management (Kent D. Miller) 8. Can Strategic Risk Management Contribute to Enterprise Risk Management? A strategic management perspective (Phil Bromiley, Devaki Rau, and Michael McShane) 9. The Symbiosis of Failure: The strategic dynamics of risk and resilience (Denis Fischbacher-Smith) 10. Innovation: Managing strategic risk (Luca Gatti) Part III: Corporate Risk Management Insights 11. The LEGO Group implementation of Strategic Risk Management (Hans Laessoe) 12. The Enterprise Risk Management (ERM) Story: Experiences from Nestle (Markus Schadeli) 13. Strategic Risk Management in Suncorp Personal Insurance (Kirsten Dunlop and Mark Milliner) 14. Risk Taking for the Modern Risk Leader: A fresh perspective of trust, transparency, and social media (Kathleen Edmond, Michelle Rovang and Douglas Jondle) Part IV: The Managerial Impact on Risk Outcomes 15. Reflections on "How Psychological Pitfalls Generated the Global Financial Crisis" (Hersh Shefrin) 16. Risk as Feeling in Risk Taking and Risk Management in Organizations (Laurel C. Austin) 17. Diagrams for Strategic Risk Management (Baruch Fischhoff) 18. Capital Structure, Environmental Dynamism, Innovation Strategy, and Strategic Risk Management (Torben Juul Andersen) 19. Effective Risk Management: Do we have the right management skills and employee competences? (Simon Torp) Part V: Effects of Enterprise Rick Management 20. The Effects of Enterprise Risk Management on Firm Performance (Don Pagach and Richard Warr) 21. An Empirical Examination of Risk Management Effectiveness (Leen Paape and Roland F. Spekle) 22. Does Enterprise Risk Management Create Value for Firms?: Evidence from Nordic countries (Naciye Sekerci) 23. Strategic Risk Management and Corporate Value Creation (Oliviero Roggi and Torben Juul Andersen) 24. Creating Value through Strategic Risk Management (Kim B. Staking) Part VI: Other Aspects of Strategic Risk Management 25. Enterprise Risk Management: The need for distinguishing between task risk and enterprise risk management (Eyvind Aven and Terje Aven) 26. High Reliability and the Management of Critical Infrastructures (Paul Schulman, Michel van Eeten and Mark de Bruijne) 27. The Opaque Corners of ERM (S. Abraham (Avri) Ravid) 28. Aggregating Predictions of Operational Uncertainties from the Frontline: A new proactive risk management practice (Carina Antonia Hallin) 29. Understanding Common Network Patterns to Improve Management of External and Internal Stakeholder Risks (Eva Schiffer).

Managing risk in and across organizations has always been of vital importance, both for individual firms and for the globalized economy more generally. With the global financial crisis, a dramatic lesson was learnt about what happens when risk is underestimated, misinterpreted, or even overlooked. Many possible solutions have been competing for international recognition, yet, there is little empirical evidence to support the purported effectiveness of these regulations and structured control approaches, which leaves the field wide open for further interpretation and conceptual development.