ABSTRACT
Successful management requires having the right people focused on the right topics at the right times. In many settings, those goals can be achieved by trial and error. Such incremental learning from experience is less possible with strategic management, where feedback may come slowly and have ambiguous lessons when it arrives. It may be impossible with strategic risk management, where clear lessons are even harder to come by. As a result, strategic risk management requires acts of faith, adopting procedures trusted to recruit and coordinate the essential people and topics in a timely fashion.
