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Home > Business Strategy Best Practice > Risk—Perspectives and Common Sense Rules for Survival

Business Strategy Best Practice

Risk—Perspectives and Common Sense Rules for Survival

by John C. Groth

Notes

1 Groth (1992) offers practical details on identifying and classifying risk factors.

2 The date of the first hemispherectomy on a human as well its classification as success or failure is a matter of debate, fed by issues such as the extent of the procedure as well as measures of success. The first human hemispherectomy, in 1923, is attributed to Walter Dandy, but the first complete procedure, also by Dandy, was performed in 1933. The procedure is primarily used to treat epilepsy.

3 A social conscience dictates that one not knowingly transfer risk to a third party that, because it cannot bear or tolerate the adverse outcome of the risk, or through intent, defaults and transfers the adverse outcome to society.

4 As the reader is well aware, some parties may “accept” risk for compensation with the intent of defaulting on the bearing of the risk and garnering (stealing) unearned returns, i.e. taking the returns without actually bearing the risk.

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Further reading

Book:

  • Shirreff, David. Dealing with Financial Risk. Princeton, NJ: Bloomberg Press, 2004.

Articles:

  • Groth, John C. “Common-sense risk assessment.” Management Decision 30:5 (1992): 10–16.
  • Groth, John C. “Environmental risk: Implications of rational lender behaviour.” Journal of Property Finance 5:3 (1994): 19–32.

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