March 2020
HKS Authors
See citation below for complete author information.
George F. Baker, Jr. Professor of Public Management, HKS; Eliot I. Snider and Family Professor of Business Administration, HBS
Abstract
Companies can manage known risks by reducing their likelihood and impact. But such routine risk management often prevents them from recognizing and responding rapidly to novel risks, those not envisioned or seen before. Setting up teams, processes, and capabilities in advance for dealing with unexpected circumstances can protect against their severe consequences.
Citation
Kaplan, Robert S., Dutch Leonard, and Anette Mikes. "Novel Risks." March 2020.