Journal Article10.1080/13669877.2010.541562
Development paths of risk management: approaches, methods and fields of application
Chiara Verbano,Karen Venturini +1 more
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TL;DR: In this article, a taxonomy of new paths of development for risk management based on a thorough analysis of the academic and managerial literature is presented, which can serve as an integrated reference to the risk management discipline, allowing those who deal with risk management to identify and characterize the most suitable paths.
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Abstract: In the most recent stage of development of modern society, the growing complexity and dynamism of the contexts firms operate in has led to a relentless increase in the level of risk in all areas of firms’ management and activities. For this reason, the discipline and practice of risk management (RM) has taken hold more and more in very different sectors and contexts: from nuclear to supply chain to healthcare. The evolutionary path of RM has followed distinct paths of development that have adopted specific perspectives and, backed by different cultural matrices, led to unique approaches and methods. The aim of this paper is to provide a contribution to the identification and characterization of new paths of development based on a thorough analysis of the academic and managerial literature. This taxonomy can serve as an integrated reference to the RM discipline allowing those who deal with RM to identify and characterize the most suitable paths of development for a given context, within a comprehensive fra...
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Citations
Leaders' Risk Propensity and Delegation of Critical Decision-Making Authority
Reginald Carlton Doctor
- 01 Jan 2015
TL;DR: In this article, the authors examined the extent that risk propensity of leaders affect delegating critical decision-making authority to subordinate managers and employees, and found that leaders who retain primary responsibility for critical decision making have high risk propensity while those who delegate decisions have less risk propensity.
•Dissertation
Risk management and networks: How SMEs adapt to changing business environments via networking?
Emma Pääkkönen
- 01 Jan 2018
TL;DR: Pääkkönen et al. as mentioned in this paper presented risk management and networks: How SMEs adapt to changing business environments via networking at the Faculty School of Business and Management in Finland.
Linking the Human Element to the Risk Management Process: One of the Internal Control Processes in Governance of an Organisation
Sharon Seychell
- 09 Jul 2018
TL;DR: In this article, the authors highlighted the most prominent theories surrounding the cultural framework people operate in when they are involved in the risk management process, which is an important function in the governance structure of a firm.
References
Prospect theory: an analysis of decision under risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
•Posted Content
Prospect Theory: An Analysis of Decision Under Risk
Daniel Kahneman,Amos Tversky +1 more
TL;DR: Prospect Theory as mentioned in this paper is an alternative theory of individual decision making under risk, developed for simple prospects with monetary outcomes and stated probabilities, in which value is given to gains and losses (i.e., changes in wealth or welfare) rather than to final assets, and probabilities are replaced by decision weights.
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To Err Is Human Building a Safer Health System
Linda T. Kohn,Janet M. Corrigan,Molla S. Donaldson +2 more
- 01 Jan 2000
TL;DR: Boken presenterer en helhetlig strategi for hvordan myndigheter, helsepersonell, industri og forbrukere kan redusere medisinske feil.