Creative leaders don’t fear risk — they turn it into a money-making strategy
In 2008, at the height of the global recession, Hyundai Motor Company, like all other auto companies, was reeling from the sharp drop-off in vehicle sales. Fearful of losing their jobs and dismayed by the sudden plunge in the value of their homes, consumers were in no mood to consider big-ticket purchases that would take years to pay off. Most auto companies took on a defensive mind-set, reacting to the economic crisis by curtailing production and reducing future growth plans; some even filed for Chapter 11 bankruptcy protection.
Is your risk management pointed inward, toward preserving organizational value? Or is it directed outward, toward the market?
A new article by Gary Lynch and Karen Avery is featured in the current issue of Strategy+Business Magazine; read the complete article below or on strategy-business.com
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