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| Author: | Fiegenbaum, A. Thomas, H. |
| Title: | Strategic risk and competitive advantage: an integrative perspective |
| Journal: | European management review
2004 : SPRING, VOL. 1:1, p. 84-95 |
| Index terms: | Strategic management Risk management Competitive advantage |
| Language: | eng |
| Abstract: | The authors develop a model for the strategic management of risk. A dynamic model of competitive strategy linking risk and competition is presented, in which strategic reference points and risk attitudes are endogenously determined and influence risk/return performance. Following Shapira's (1995) arguments that good managers take high risk but are able to reduce it over time, the authors highlight the relevance of managing risk taking to achieve competitive advantage and then show how risk-seeking organizations can strategically achieve sustainable high returns at low risk. |
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