This book promotes good risk governance and risk management practices to corporate managers, executives, and directors wherever they operate around the world. The major corporate scandals have their roots in governance failure pointing to the link between risk governance and good performance outcomes. This topic is timely and of interest both to the academic community as well as to practicing managers, executives, and directors.
The volume focuses on contemporary risk leadership issues based on recent research insights but avoids excessive technical language and mathematical formulas. The book is framed around the challenges imposed on executives and directors in dealing with an increasingly complex and unpredictable world. This requires a new risk leadership focus that not only avoids the downside risks but also considers ways to exploit the upside potential offered by a dynamic environment. The underlying logic is built on the principles of financial economics where benefits derive from reducing bankruptcy costs and increasing future cash inflows. This provides a stringent framework for analyzing the effect of different risk management actions and behaviors in effective risk-taking organizations. Hence, the book addresses the potential for upside gains as much as the threats of downside losses that represent the conventional risk perspectives. It states the simple fact that you must be willing to take risk to increase strategic responsiveness and corporate manoeuverability. The text builds the arguments in logical steps explicating relevant techniques and practices along the way that invite to immediate applications and practical thinking

Caribbean firms cope with international competition both in their small domestic economies and as they extend their operations outside their home countries. This volume explores their struggles and successes in fifteen case studies developed from interviews with Caribbean firms at key decision points in their internationalizing processes. The cases ask the reader to offer direction; to evaluate choices made or to opine on paths not taken. The cases feature over thirty countries in the Americas, Europe and the Caribbean. These appear as markets, domiciles or hosts of subsidiaries of the internationalizing Caribbean firm. For example, one of the Barbadian cases describes a food caterer operating in ten countries in South, Central and North America. The cases cover multiple industries including cement manufacturing, supermarkets, shipping, remittances, banking, tourism, rum production, shrimp harvesting, food manufacturing and airline catering, and reflect the conversations with practising managers, who raised such questions as, "How does one define the Caribbean manager?" "How do we exploit our diaspora markets?" "How can small firms scale up?" "Where should we locate headquarters?" "What should be the role of regional governments?" "How do we pick allies and manage alliances?" The managerial challenges described are diverse: decision-makers from GraceKennedy, Goddard's Enterprises or Trinidad Cement Group share practical experiences including decisions on marketing (e.g., pricing and retail locations); financing and accounting (e.g., alternative financing options); international strategy (e.g., alliances and take-overs); corporate governance; operations and personnel. All fifteen cases add to understanding emerging market multinationals, particularly those domiciled in small island developing states characterized by tiny internal markets, limited international influence and environmental fragility. They add insight to work on Caribbean entrepreneurship, business and economics and to studies of international business in developing countries.