Risk Management Quotes - Page 3

• 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, Management

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

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• I don't see what the alternative to risk management is. If it's just getting rid of the models and instead using the smart people who can figure it out? How do you train them? What do you teach them? Do you just put them in a cockpit and let them stumble for 10 years of their life and then after that they're good at it?

  Robert F. Engle

  Smart, Years, People

  Source: bigthink.com

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• You cannot allow any of your people to avoid the brutal facts. If they start living in a dream world, it's going to be bad.

  James Mattis

  Dream, People, Enemy

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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 have no future because our present is too volatile. We have only risk management. The spinning of the given moment's scenarios. Pattern recognition.

  William Gibson

  Life, Risk, Patterns

  William Gibson (2003). “Pattern Recognition”, p.54, Penguin

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• While we cannot accurately predict the course of climate change in the coming decades, the risks we run if we don't change our course are enormous. Prudent risk management does not equate uncertainty with inaction.

  Steven Chu

  Running, Risk, Climate

  Letter from Secretary Steven Chu to Energy Department Employees, energy.gov. February 01, 2013.

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• Cease dependence on inspection to achieve quality. Eliminate the need for inspection on a mass basis by building quality into the product in the first place.

  W. Edwards Deming

  Risk, Quality, Needs

  W. Edwards Deming, Joyce (edited by) Orsini (2012). “The Essential Deming: Leadership Principles from the Father of Quality”, McGraw Hill Professional

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• A company will get nowhere if all of the thinking is left to management.

  Akio Morita

  Thinking, Management, Company

  "The future of labor-management cooperative programs" by John Raymond Phillips, (p. 6), 1994.

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• Never ask a barber if you need a haircut.

  Warren Buffett

  Cowboy, Needs, Rodeo

  "Retirement a la Warren Buffett" by Paul A. Merriman, www.marketwatch.com. April 17, 2013.

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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, Management

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• Management is a curious phenomenon. It is generously paid, enormously influential, and significantly devoid of common sense

  Henry Mintzberg

  Common Sense, Risk, Management

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• There is no doubt that Formula 1 has the best risk management of any sport and any industry in the world.

  Jackie Stewart

  Sports, Risk, Doubt

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• If I had better foresight, maybe I could have improved things a little bit. But frankly, if I had perfect foresight, I would never have taken this job in the first place.

  Richard F. Syron

  Jobs, Taken, Perfect

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• Maybe we should teach schoolchildren probability theory and investment risk management.

  Andrew Lo

  Probability Theory, Risk, Management

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• The question of whether or to what extent human activities are causing global warming is not a matter of ideology, let alone of belief. The issue is simply one of risk management.

  Malcolm Turnbull

  Issues, Risk, Matter

  "Turnbull attacks climate sceptics". Interview with Sabra Lane, www.abc.net.au. July 22, 2011.

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• Every noble acquisition is attended with its risks; he who fears to encounter the one must not expect to obtain the other.

  Pietro Metastasio

  Fear, Risk, Trying

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• Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.

  George Soros

  Years, Risk, Management

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• The most basic problem is that performance appraisals often don't accurately assess performance.

  W. Edwards Deming

  Risk, Management, Problem

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• To be effective, every knowledge worker, and especially every executive, therefore needs to dispose of time in fairly large chunks. To have small dribs and drabs of time at his disposal will not be sufficient even if the total is an impressive number of hours.

  Peter Drucker

  Numbers, Risk, Knowledge Workers

  Peter Ferdinand Drucker (2001). “The Essential Drucker: Selections from the Management Works of Peter F. Drucker”, Routledge

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• Businesses can be opaque. They are complex. You don't know how aircraft engines work either.

  Jamie Dimon

  Risk, Opaque, Management

  "JPMorgan CEO Hits Back at Policymakers in Davos" by Yousef Gamal El-Din, Antonia van de Velde, www.cnbc.com. January 23, 2013.

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• Managers are not confronted with problems that are independent of each other, but with dynamic situations that consist of complex systems of changing problems that interact with each other. I call such situations messes. Problems are extracted from messes by analysis. Managers do not solve problems, they manage messes.

  Russell L. Ackoff

  Independent, Risk, Analysis

  "Thinking in Systems: a Primer" by Donella Meadows, (p. 1), 2008.

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• No one can measure the loss of business that may arise from a defective item that goes out to a customer.

  W. Edwards Deming

  Loss, Risk, May

  W. Edwards Deming, Joyce (edited by) Orsini (2012). “The Essential Deming: Leadership Principles from the Father of Quality”, McGraw Hill Professional

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• A desperate disease requires a dangerous remedy.

  Guy Fawkes

  Risk, Disease, Management

  6 November 1605. 'Dictionary of National Biography'.

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• The budget evolved from a management tool into an obstacle to management.

  Charles Edwards

  Tools, Management, Obstacles

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• Quality, productivity, and innovation can be significantly increased if companies provide all employees with practical tools for exploiting potential information

  William Hunter

  Risk, Innovation, Quality

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