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Chapter 1 – To Survive and Thrive
1. What is an unintended consequence of shorter CEO tenure relative to decades earlier?
The unintended consequences of shorter CEO tenure are this can make the CEO overly risk averse. It makes CEO decisions more conventional and less risk taking is involved. Also CEO’s focus more on short-term goals than long term.

2. What are some barriers to the board’s effectiveness in risk oversight?
Boards members rarely have an understanding of key enterprise strategies or risks. They have no clear sense of their companies’ prospects 5 to 10 years down the road. They have limited time, lack of industry specific expertise and different definitions of success that prevent them from successfully performing
Research

5. What type of framework has Duke used to organize its risk oversight processes?
COSO ERM Framework
Strategic
Operations
Reporting
Compliance

6. What is a heat map?
Heat map summarize and ranks risk. It measures the likelihood and impact of the events that have the most risk to an organization.

7. What committee of the board is responsible for reviewing the risk management process?
Audit Committee is responsible for reviewing the risk management process

8. How did the makeup of the board impact Duke’s interest in improving its risk oversight?
Board members encouraged management to have a more thorough risk oversight process. One board member who was CFO of Pepsi Co. encouraged management to be more involved with risk oversight and take ownership of risk.

9. If you are in charge of risk oversight at another university, what might you do differently based on their experience?
Audit Committee
Heat Maps
Make sure management and board takes ownership of the risks
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Chapter 5- Maintain Constant Vigilance
1. What is ‘situational awareness’?
The ability to perceive, comprehend and anticipate the effects of important changes in the environment or vigilance.

2. What are the 3 failures of vigilance?
a. Failure to see a shift coming
b. Failure to grasp the implications of the shift
c. Failure to anticipate the future path of the shift

3. What are some reasons we often fail to see a shift coming?
a. Overload of