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Management must balance performance goals and associated risks. By having a plan, management can be better prepared for dealing with risks when they occur. However, not all strategies may be effective or proceed as planned when dealing with uncertainty.

(1) Considering your professional experience or a recent event, can you think of an ex where an organization successfully or unsuccessfully incorporated risk management into their strategic plan?
(2) What went right?
(3) What went wrong?

 

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