The big business idea of the last 30 years has passed its sell-by date. The idea being that you drive cost out of the organisation to make it more profitable, to maximise shareholder value. Why has it passed its sell-by date? Because by driving cost out most businesses have been driving huge risk in. Why do organisations public and private, continue to get this so wrong, pursuing the will-o’-the-wisp of cost reduction with measures that end up increasing them? This preoccupation seems to have tainted the cream on the top of most business models.