Management and Marketing - Research Publications
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ItemNew Approaches to Organizing Risk: Part Two( 2018-11-15)In this subsequent article, Maguire and Hardy offer a critique of how the dominant discourse of risk stands in the way of thinking critically about risk. They also show how some organizations have successfully resisted this discourse and adopted more innovative ways of organizing risk.
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ItemNew Approaches to Organizing Risk: Part One(The Conference Board of Canada, 2018-04-23)Organizations produce risks—financial, health, and environmental—when they engage in dangerous activities or deploy hazardous technologies. And these risks are borne by others, such as employees, external stakeholders, or even society at large. At the same time, organizations themselves are exposed to regulatory, legal, reputational, and operational risks. Consequently, identifying risks and deciding how to deal with them is of critical importance to any organization. But is risk management, as it is currently conceived and applied, up to the task? We think not and we explain why in this two-part series, which also highlights how organizations can develop new, more effective ways to organize risks. Part One introduces the organizational risk cycle and points out weaknesses in how organizations typically address risk—the default approach, as we call it. This first part of the series also shows how organizations can overcome the tendency to favour the default approach over alternative ways of organizing risk.