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Today, political risk stems from a widening array of actors, including Twitter users, local officials, and transnational activists, terrorists, hackers, and insurgents. The chief concern used to be whether a foreign dictator would nationalize the country's oil industry or impose onerous new regulations. A generation ago, political risk mostly involved a handful of industries in a few frontier markets.

Political risk-the probability that a political action could significantly affect a company's business-is changing fast, and it's affecting more businesses in more ways than ever before. Each title includes timeless advice that will be relevant regardless of an ever-changing business environment.Bestselling author and former US Secretary of State Condoleezza Rice and Stanford University Professor Amy Zegart comes an examination of the rapidly evolving state of political risk and how to navigate it. Harvard Business Review has sorted through hundreds of articles and selected only the most essential reading on each topic. HBR's 10 Must Reads series focuses on the core topics that every ambitious manager needs to know: leadership, strategy, change, managing people, and managing yourself. Leaders looking for the inspiration that big ideas provide, both to accelerate their own growth and that of their companies, should look no further. HBR's 10 Must Reads paperback series is the definitive collection of books for new and experienced leaders alike.

Get ahead of and minimize political risk Avoid common mistakes when confronting risk.

Find opportunities in emerging markets-and avoid those you can't practically serve.

Embrace uncertainty as a key element of breakthrough innovation.

Gain experience through small strategic bets before launching larger initiatives.

Understand the three categories of risk and tailor your risk-management processes accordingly.

We've combed through hundreds of Harvard Business Review articles and selected the most important ones to help you determine which risks are worth taking and mitigate those your company - and your industry at large - are already facing. If you read nothing else on managing risk, read these 10 articles. Whether you're assessing a new opportunity for innovation or thinking about your long-term strategy in an unsteady economy, you need to know the best way to proceed while ensuring that your company is financially secure and thriving. Risk is a regular part of business, but knowing which risks to take and when to step back is often unclear. Is your business playing it safe - or taking the right risks?