Governance Reimagined: Organizational Design, Risk, and Value Creation
Most organizational leaders only partially understand the factors that affect the amount of value created by the activities of their organization and thus greatly under–deliver on the potential to achieve their objectives and serve their target audiences.
Governance Reimagined has been written to fill in the missing pieces of this puzzle. It will help put your organization on the path toward re–governing, or redesigning how it works, to unlock its hidden value. Page by page, it will show you how to generate new and better processes and improve the value of those processes by altering the external perception of their risk.
- Addresses various issues that affect corporate value, from management and systems theory to governance science, risk management, and traditional finance
- Reveals how to recognize internal processes and external events that affect value creation
- Highlights how to create resilient organizations that generate greater value from their processes
Governance Reimagined offers corporate leaders a new way to think about value, and will help you understand some of the factors that destroy value within organizations, but most importantly how new value can be created and how missions can more ably be fulfilled.
This is an important book for these dynamic economic times.
From the Inside Flap
Under the right circumstances, self–organized groups of people can do amazing things. We can create products and services that never existed before as well as invent new and better ways of performing both simple and complex tasks. Whether in for–profit or nonprofit organizations, in political economies or informal associations, given the right setting, we can create things that are of substantial value to others, while also creating value for ourselves.
But in order to create things, we must be willing to take risks. Governance Reimagined offers one of the most detailed looks at a new way to govern effectively the interactions of organizations that take risks in the pursuit of value.
Written by David Koenig—an internationally recognized expert on governance practices and risk management—this book brings together a highly diverse set of ideas to put governance in a new perspective. Divided into four comprehensive parts, this reliable resource walks you through the surprising ways that value is created; the role that perceptions, behavior, and group dynamics play in the success of your organization; and the steps to take in designing the right governance framework to enable any organization to generate the most value from the initiative that caused it to form in the first place.
With this book as your guide, you′ll gain essential answers to some tough questions, including:
What do we know about the governance of complex systems that can help us realize the potential of groups and avoid the complexity collapse that so many large organizations experience?
Can governance structures be designed to address the varying needs and beliefs of those whose perceptions of us are critical to our organization′s success?
How does viewing risk as a "commons," in a networked and distributive environment of governance, allow organizations to deliver more utility and live longer?
What is the role of trust in what we do, and what is its specific impact on how systems create value?
Once you establish an environment in which people can create things that are of value to others outside of your organization, while also creating value for those on the inside, you′ve succeeded.
Governance Reimagined skillfully outlines a practical, and innovative, approach that will help you achieve this elusive goal. Written for directors, corporate executives, elected officials, regulators, students, and those involved in the governance of risk–taking at all types of organizations, there is no other book quite like it.
From the Back Cover
Advance Praise for Governance Reimagined
"If there′s anything that′s long overdue for a little reimagination, it′s governance. Not only does this book contain new ideas, it is a delightful read, full of analogies, metaphors, and linkages to common everyday situations. I know I will refer to this book again and again."—Don M. Chance, PhD, CFA, James C. Flores Endowed Chair of MBA Studies and Professor of Finance, Louisiana State University
"David Koenig has always been at the vanguard of innovative ways to think and practice risk management. Readers will greatly benefit from his ′out–of–the–box′ and multidisciplinary approach to how reimagined governance can help create value in these turbulent but exciting times."—Richard Sandor, Chairman and CEO, Environmental Financial Products, LLC, and author of Good Derivatives: A Story of Financial and Environmental Innovation
"This is a well organized, presented, and written book. The writing is exceptionally jargon–free and user–friendly. It should be a great success."—Robert A. G. Monks, Lens Governance Advisors, and author of Corporate Governance, Corporate Valuation for Portfolio Investment, The New Global Investors, Corpocracy, Capitalism Without Owners Will Fail, Power and Accountability, and The Emperor′s Nightingale
"In the context of thinking that ′the organization′ is the most important innovation of mankind, writing a book titled Governance Reimagined is quite ambitious. But David Koenig has delivered! I will recommend this book to friends and people I meet on my way."—Knut Kjaer, Chairman, FSN Capital, former President, RiskMetrics Group, and former Chief Executive Officer, Norges Bank Investment Management, the Norwegian Sovereign Wealth Fund
"Governance Reimagined is an insightful exploration into the design, practice, and underpinnings of how organizations best use and manage risk in this post–financial crisis period. It is a book that will benefit anyone involved with designing or managing an organization, no matter what the focus of that enterprise."—Michael A. M. Keehner, Adjunct Professor of Finance and Economics, Columbia Business School, and board member, Oppenheimer Holdings
"Governance Reimagined is brilliantly simple to understand. The relevance to today′s corporate boards and C–suite executives who have gone through the worst period of economic turmoil in nearly a century jumps out at the reader in every chapter. Every board member and CEO who worried over unfathomable explanations of what can or did go wrong in an organization need to read this book."—Allan M. Grody, President, Financial InterGroup Holdings Ltd; founder and retired partner–in–charge, Coopers & Lybrand′s Financial Services Consulting Practice; Adjunct Professor, New York University Stern School of Business; editorial board member, Journal of Risk Management in Financial Institutions
About the Author
DAVID R. KOENIG is the Chief Executive Officer of The Governance Fund Advisors, LLC, and the Chief Investment Officer of Ram Investment Advisors, LLC. He works to discover hidden value in companies based on their corporate governance. Koenig has a long history of work on governance and risk management, having served as the chair of the board of directors of the Professional Risk Managers′ International Association (PRMIA) from 2002–2005; as the lead risk management executive at three companies; and as an entrepreneur, having successfully launched multiple for–profit and nonprofit organizations. In 2010, he was chosen as a winner of the inaugural Management Innovation eXchange′s M–Prize competition for his idea—Risk Capital as Commons: Distributive and Networked Governance. In 2008, he was bestowed the Higher Standard Award by PRMIA, that organization′s top honor. Koenig has also published numerous articles in popular and academic journals and is an editorial board member of both the International Journal of Services Sciences and the Journal of Risk Management in Financial Institutions. He has been a featured speaker at over seventy events on four continents.
ISBN : 9780470598788, Author : Koenig, Publisher : John Wiley - 2012, Dimensions : 23.1 x 16 x 2.5 cm, Paperback : 256 pages
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