Managing Business Risk.

• Author: Marshall, Jeffrey
• Position: Review

By Peter C. Young and Steven C. Tippins. Amacom, 443 pages. $69.95.

The authors, two academics from small Midwestern universities, ostensibly set out to write a primer on the current state of risk management, while including a bit of history on its evolution. By and large, they have succeeded. Managing Business Risk is a soup-to-nuts overview that covers areas such as risk assessment and control, asset and liability exposures, risk financing and insurance. A central theme is that organizational risk management has emerged as a best practice standard; ORM takes risk control beyond the finance function and...