An Early Mover is a firm that quickly recognizes a unique opportunity or risk and uses that knowledge to evaluate its options either before anyone else or along with other firms that likewise recognize the significance of what’s developing in the market and seize the initiative. Early Movers have the advantage of time, with more decision-making options before market shifts invalidate critical assumptions underlying the strategy. This issue of Board Perspectives: Risk Oversight explains the attributes of an Early Mover using three R’s – RECOGNIZE, REACT and REFLECT.