Risk and opportunity (what Finance says?) Risk Management can be powerful Instrument for development. Whether risks are systemic or idiosyncratic, imposed or taken on voluntarily, development can occur only by successfully confronting risk and pursuing opportunity. In past century have witnessed unprecedented changed around the world. Many of them for better. Many countries embarked on a path of : 1) International integration. 2) Economic reform. 3) Technological Modernization. 4) Democratic participation. Although challenges and inequalities remain, economies that had been stagnant (bad situation) for decades are growing, people whose families had suffered deprivation for generations are escaping poverty, and hundreds of millions are enjoying the benefits of improved living standards and scientific and cultural sharing across nations. As the world changes, a host of opportunities arise constantly. With them, however, appear old and new risks, from the possibility of job loss and disease to the potential for social unrest and environmental damage. If ignored, these risks can turn into crises that reverse hard-won gains and endanger the social and economic reforms that produced these gains. The solution is not to reject change in order to avoid risk but to prepare for the opportunities and risks that change entails. Managing risks responsibly and effectively has the potential to bring about security and a means of progress for people in developing countries and beyond. #WDR2014
Posted on: Sat, 05 Jul 2014 02:10:23 +0000
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