Courtney Lends Insight to EIU Report on Risk Management
Hugh Courtney, professor of the practice of strategy and vice dean of the
Robert H. Smith School of Business, is among a select group of experts worldwide
who contributed to a recently released report on strategic risk management.
Courtney commented on subtopics such as scenario planning in Getting New
Perspective on Strategic Risk, published by the London-based Economist
Intelligence Unit. The EIU is part of The Economist Group, which publishes
The Economist newspaper. The study indicates many business leaders
naturally focus attention on the immediate future and ensure short-term
financial obligations are met. However, the report also warns that businesses
limit their chances for sustainable success by prioritizing short-term profits
over long-term performance.
Key findings include:
Courtney, in the report, stated that scenario planning should be applied
carefully and not as a means to predict the future or validate specific
strategies. "Scenario plans don't necessarily need to inform the big strategic
decisions on the day, but they do begin to frame the longer-term opportunities
and threats that companies might face," he said. "They start to lay the
groundwork for the investment paths that companies might need to explore."
To view Getting New Perspective on Strategic Risk, go to