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One of the business world?s most innovative thinkers explainshow to take a unique, counterintuitive approach to the key issuefor every business ? growth ? by turning big threatsinto big opportunities. The world is moving so quickly thatevery business in every industry faces big threats. Risk isone of those unpleasant realities--along with death and taxes--thatmost people would prefer to ignore. In fact, many peopledo ignore it as much as possible. On the rareoccasions when they think about risk, most people, includingbusiness people, adopt a fatalistic attitude. "Oh, well," theyshrug, "No pain, no gain." They accept the conventionalwisdom that risk and reward go together?that to get greatupside results (higher-than-average profits, quantum leaps ingrowth), you need to take big downside risks. It's a painfulbut inescapable fact of life. But there are ways to anticipate threatening changes and turnthem into successes. Risk and reward are notinextricably linked. The reality is that it?s possibleto reduce the risks you face at the same time as you improve thereturns you enjoy. In fact, it?s not only possible butessential. The leaders of today?s most successfulcompanies aren?t risk takers . . .they?re risk shapers. They think day and nightabout the risks they face and are continually working to developand implement strategies to reduce them. Their attitudetoward risk is the opposite of fatalistic--it's aggressive,ruthless, and uncompromising. Managed correctly, the risks you face can be transformed intoextraordinary growth opportunities.Risk is considered a fact of life like the weather, a threat youshouldn?t even think about combating. After all,doesn?t everyone know you can have high returns or lowrisk?but not both?Over the next half-decade, the majority of business leaders willcome to understand that risks can be not merely controlled buttransformed into opportunities. Yet for now, this is aminority opinion. Those who grasp this insight early and putit to work in their industries--as a few far-sighted managers havealready done--will enjoy a huge advantage over theircompetition.
