Management Quotes - Page 38

• A good rule of thumb is to assume that everything matters.

  Richard Thaler

  Risk, Thumbs, Matter

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• The technical explanation is that the market-sensitive risk models used by thousands of market participants work on the assumption that each user is the only person using them.

  Avinash Persaud

  Risk, Assumption, Sensitive

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• The kinds of errors that cause plane crashes are invariably errors of teamwork and communication.

  Malcolm Gladwell

  Teamwork, Communication, Errors

  Malcolm Gladwell (2008). “Outliers: The Story of Success”, p.127, Penguin UK

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• If you don't invest in risk management, it doesn't matter what business you're in, it's a risky business.

  Gary Cohn

  Risk, Matter, Ifs

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• I can assure you, as long as I'm here, as long as my colleagues are here, we do know about risks.

  Oswald Grubel

  Long, Risk, Colleagues

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• At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.

  Warren Buffett

  Book, Risk, Faults

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• My client loved risk. Risk, I had learned, was a commodity in itself. Risk could be canned and sold like tomatoes.

  Michael Lewis

  Risk, Tomatoes, Clients

  Michael Lewis (2010). “Liar's Poker”, p.232, W. W. Norton & Company

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• This awful catastrophe is not the end but the beginning. History does not end so. It is the way its chapters open.

  Saint Augustine

  Risk, Doe, Awful

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• We gauge risk literally hundreds of times per day, usually well and often subconsciously. We start assessing risk before the disaster even happens. We are doing is right now. We decide where to live and what kind of insurance to buy, just like we process all kinds of everyday risks: we wear bike helmets, or not. We buckle our seatbelts, smoke cigarettes, and let our kids stay out until midnight. Or not.

  Amanda Ripley

  Kids, Risk, Everyday

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• The public totally discounts low-probability high-consequence events. The individual says, it's not going to be this plane, this bus, this time.

  Amanda Ripley

  Risk, Events, Individual

  Amanda Ripley (2009). “The Unthinkable: Who survives when disaster strikes - and why”, p.63, Random House

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• If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

  Peter Lynch

  Risk, Analyzing, Economic

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• Indeed, better risk management may be the only truly necessary element of success in banking.

  Alan Greenspan

  Risk, Banking, Elements

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• One thing that makes it possible to be an optimist is if you have a contingency plan for when all hell breaks loose.

  Randy Pausch

  Worst Case Scenario, Risk, Hell

  Randy Pausch, Jeffrey Zaslow (2008). “The last lecture”, Hyperion Books

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• Thoughtfully assessing and addressing enterprise risk and placing a high value on corporate transparency can protect the one thing we cannot afford to lose: trust.

  Dale E. Jones

  Risk, Transparency, Protect

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• Risk is just an expensive substitute for information.

  Adrian Slywotzky

  Risk, Information, Substitutes

  "The Upside". "HBR IdeaCast" with Paul Michelman, hbr.org.

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• If you don't know the Jewelry, know the Jeweller

  Warren Buffett

  Risk, Jewelry, Knows

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• Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.

  Michael Porter

  Risk, Strategy, Function

  Michael E. Porter (1985). “Competitive Advantage: Creating and Sustaining Superior Performance”

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• I always believe it's better to have 30 imaginations working on a project, rather than one imagination telling the other 29 what to do.

  Trevor Nunn

  Believe, Imagination, Planning

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• Never waste any time you can spend sleeping.

  Frank Knight

  Sleep, Waste, Time Management

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• I'm able to bring business expertise but, more importantly, operating experience. The people here at Google are young. Every day there are lots of new challenges. I keep things focused. The speech I give everyday is: "This is what we do. Is what you are doing consistent with that, and does it change the world?"

  Eric Schmidt

  People, Giving, Focus

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• At Facebook, we try to be a strengths-based organization, which means we try to make jobs fit around people rather than make people fit around jobs. We focus on what people's natural strengths are and spend our management time trying to find ways for them to use those strengths every day.

  Sheryl Sandberg

  Jobs, Mean, Organization

  "Sheryl Sandberg: By the Book". The New York Times Interview, www.nytimes.com. March 14, 2013.

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• One who is slow to anger is better than the mighty; one who rules his spirit, than he who takes a city.

  Solomon

  Anger, Cities, Spirit

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• The discretion of a man makes him slow to anger. It is his glory to overlook an offense.

  Solomon

  Anger, Men, Glory

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• At the BBC we've had plenty of women in good management jobs. It comes and goes but there's been plenty. On air, I think there's quite a bit more we can do.

  Evan Davis

  Jobs, Thinking, Air

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• Knowledge is a sacred cow, and my problem will be how we can milk her while keeping clear of her horns.

  Albert Szent-Gyorgyi

  Knowledge, Milk, Cows

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