Corporate social responsibility (CSR) is a comprehensive concept that aims at the promotion of responsible business practices closely linked to the strategy of enterprises. Although there is no single accepted definition of CSR, it remains an inspiring, challenging and strategic development that is becoming an increasingly important priority for companies of all sizes and types, particularly in Europe. Promotion of well-being at work is an essential component of CSR; however, the link between CSR, working conditions and work organisation is still (...) found to be unfamiliar to stakeholders. As CSR is strategic and is regarded by many companies and corporate leaders as an important development, it offers opportunities for psychosocial risk management, an area that is currently among the top priorities in working environment and well-being at work debates. However, the link between CSR and psychosocial risk management has not been addressed clearly before. This paper aims to explore the potential role of CSR in promoting well-being at work through the development of a framework for the management of psychosocial risks. As part of the research, key stakeholders [including the World Health Organization (WHO), the International Labour Organization (ILO), the European Agency for Safety and Health at Work (EU-OSHA), the European Commission (EC), employers’ associations, trade unions and other policy experts] across Europe participated in a survey, interviews and focus groups to assess and clarify the link between CSR and psychosocial risk management. On the basis of the findings, a CSR-inspired approach to the management of psychosocial issues at work is proposed. Such an approach can be a useful tool in contexts where, up until now, expertise and tradition in dealing with psychosocial issues have been lacking. (shrink)

This study reports the findings of a 2.5 year intervention project to reduce psychosocial risks and increase employee well-being in 15 emergency departments in the Netherlands. The project uses the psychosocial risk management approach “PRIMA” which includes cycles of risk assessment, designing and implementing changes, evaluating changes and adapting the approach if necessary. In addition, principles of participative action research were used to empower the departments in designing and implementing their own actions during the project. (...) Next to determining overall effects, the study aims to assess potential moderators including the level of intervening, process variables and partaking in a Psychosocial Safety Climate intervention offered during the second half of the project. The results of linear mixed-model analyses showed that all job factors improved with the exception of autonomy, which did increase halfway the project but not when considering the entire timeframe. In addition, work engagement decreased and symptoms of burnout remained stable. Emergency departments that implemented more fitting actions, communicated better and involved their employees more in the process, had more favorable changes in job factors and more stable well-being. More activity and a multilevel approach regarding stress management did not lead to greater improvements. The Psychosocial Safety Climate intervention was effective in improving Psychosocial Safety Climate, but a longer follow-up period seems required to evaluate its effect on job factors and well-being. Overall, the project resulted in positive changes in most job factors, and its findings emphasize the importance of process variables in stress management interventions. Longer follow-up and higher quality multilevel interventions seem essential to also improve well-being. (shrink)

IntroductionFrontline healthcare workers have faced significant plight during the ongoing Coronavirus disease 2019 pandemic. Studies have shown their vulnerabilities to depression, anxiety disorders, post-traumatic stress, and insomnia. In a developing country like India, with a rising caseload, resource limitations, and stigma, the adversities faced by the physicians are more significant. We attempted to hear their “voices” to understand their adversities and conceptualize their resilience framework.MethodsA qualitative approach was used with a constructivist paradigm. After an initial pilot, a socio-demographically heterogeneous population (...) of 172 physicians working in COVID-designated centers were purposively sampled from all over India. Following in-depth virtual interviews using a pre-formed semi-structured guide, the data was transcribed and translated verbatim. The interview was focused on their challenges, needs, and processes of coping and support. Charmaz’s grounded theory was used for analysis supplemented by NVivo 10 software.ResultsFear of infection, uncertainty, stigma, guilt, and social isolation emerged as the main challenges. Simultaneously, their “unmet needs” were flexible work policies, administrative measures for better medical protection, the sensitivity of media toward the image of HCW, effective risk communication for their health, and finally, social inclusion. Their resilience “framework” emerged as a process while navigating these adversities and consisted of three facets: forming a “resilient identity,” managing the resilience, and working through the socio-occupational distress. The role of mental well-being, social network, peer support, problem negotiation, and self-care emerged as the key coping strategies.ConclusionThe study findings support the global call for better psychosocial health and quality of life of the frontline HCWs. Their “unheard voices” explored in the study can anchor subsequent resilience-enhancing interventions and policies. Guidelines focusing on the psychological wellbeing of frontline HCWs need to be grounded in their unmet needs and lived experiences. (shrink)

Accelerating global climate change drives new climate risks. People around the world are researching, designing, and implementing strategies to manage these risks. Identifying and implementing sound climate risk management strategies poses nontrivial challenges including (a) linking the required disciplines, (b) identifying relevant values and objectives, (c) identifying and quantifying important uncertainties, (d) resolving interactions between decision levers and the system dynamics, (e) quantifying the trade-offs between diverse values under deep and dynamic uncertainties, (f) communicating to inform decisions, and (...) (g) learning from the decision-making needs to inform research design. Here we review these challenges and avenues to overcome them. ▪ People and institutions are confronted with emerging and dynamic climate risks. ▪ Stakeholder values are central to defining the decision problem. ▪ Mission-oriented basic research helps to improve the design of climate risk management strategies. (shrink)

Although enterprise risk management (ERM) has many benefits for corporations, there has been virtually no discussion of the extent to which its practice may be said to constitute corporate social responsibility. This article presents a prima facie case for the convergence of the two and examines this case through a consideration of four possible objections or challenges. The conclusion of this article is a tempered optimism that ERM has the significant, but as yet untapped, potential to constitute socially (...) responsible activity, which, if realized, would enable Adam Smith's invisible hand of the marketplace to have an expanded sweep. (shrink)

Risk, ethics and compliance requirements are a daily reality for most organisations. Regulators and stakeholders (including employees) demand more of most organisations, from equality, to anti-corruption, to supply chain ethics. Start-ups stutter and unicorns crash to earth when they get risk wrong. What should be done? Where should you start? How can risk management enable, not hinder, the organization's strategic goals? This book answers these questions -- rightsizing risk for every organization -- using frontline-tested tools, (...) tips, and techniques. Whether you're a purpose-driven changemaker or just struggling to comply with a seemingly unending stream of regulation, we will make risk work for you. (shrink)

Psychosocial work factors are implicated in the development of stress and job satisfaction. This relationship has been scarcely studied in so-called singular activities, as is the case of professional drivers. This cross-sectional study of 601 professional drivers assesses psychosocial risks and job satisfaction using Copenhagen Psychosocial Questionnaire and Overall Job Satisfaction questionnaire models. The values of the psychosocial scales of professional drivers were compared with thresholds values of the Spanish working population. The relationships of the (...) class='Hi'>psychosocial scales with the level of job satisfaction were examined using logistic regression models, adjusted for age, gender, length of driving license and years of experience. In general, professional drivers have an unfavorable psychosocial environment compared to the average Spanish workers. The relationship between psychosocial scales and job satisfaction is observed, with the most influential variables being the meaning and development of work, integration in the company, social relations, esteem and level of psychological demands. (shrink)

Risk management of nanotechnology is challenged by the enormous uncertainties about the risks, benefits, properties, and future direction of nanotechnology applications. Because of these uncertainties, traditional risk management principles such as acceptable risk, cost–benefit analysis, and feasibility are unworkable, as is the newest risk management principle, the precautionary principle. Yet, simply waiting for these uncertainties to be resolved before undertaking risk management efforts would not be prudent, in part because of the (...) growing public concerns about nanotechnology driven by risk perception heuristics such as affect and availability. A more reflexive, incremental, and cooperative risk management approach is required, which not only will help manage emerging risks from nanotechnology applications, but will also create a new risk management model for managing future emerging technologies. (shrink)

The relationship of corporate social responsibility to risk management has been treated sporadically in the business society literature. Using real options theory, I develop the notion of corporate social responsibility as a real option its implications for risk management. Real options theory allows for a strategic view of corporate social responsibility. Specifically, real options theory suggests that corporate social responsibility should be negatively related to the firm’s ex ante downside business risk.

Risk management is certainly one of the most important professional responsibilities of an engineer. As such, this activity needs to be combined with complex ethical reflections, and this requirement should therefore be explicitly integrated in engineering education. In this article, we analyse how this nexus between ethics and risk management is expressed in the engineering education research literature. It was done by reviewing 135 articles published between 1980 and March 1, 2016. These articles have been selected (...) from 21 major journals that specialize in engineering education, engineering ethics and ethics education. Our review suggests that risk management is mostly used as an anecdote or an example when addressing ethics issues in engineering education. Further, it is perceived as an ethical duty or requirement, achieved through rational and technical methods. However, a small number of publications do offer some critical analyses of ethics education in engineering and their implications for ethical risk and safety management. Therefore, we argue in this article that the link between risk management and ethics should be further developed in engineering education in order to promote the progressive change toward more socially and environmentally responsible engineering practices. Several research trends and issues are also identified and discussed in order to support the engineering education community in this project. (shrink)

Fallacious anthropomorphic attributions such as 'risky technology' take ethical accountability out of the hands of managers and relegate it to the deterministic or accidental outcomes of complex 'high risk technology'. Equally fallacious mechanistic terms such as 'organisational inertia' are borrowed from physics to apply to human organisations. The responsibility for ethically accountable decision-making is taken out of human hands and either ascribed to the mythological entity "Technology" or to the mythological bureaucratic organisation which functions as if it follows the (...) laws of physics. I argue in contrast that disasters can be prevented by demythologising the belief systems that pervade risk management literature. Risk management must reclaim ethical accountability by replacing notions such as 'risky technology', 'high risk technology', 'risky work' and 'bureaucratic drift' with 'risky assessment', 'risky management', 'risky choice' and 'multiple responsibility'. (shrink)

William F. Doverspike, PhD, is a licensed psychologist who holds a Diplomate in Clinical Psychology (ABPP) and he is also board certified in Neuropsychology (ABPN). He is an Associate Faculty member of the Georgia School of Professional Psychology, where he teaches graduate courses in professional ethics. As an independent practitioner, he maintains privileges at several local hospitals. He is a member of the Ethics Committee of the Georgia Psychological Association. Dr. Doverspike is Editor of the Georgia Psychologist magazine and has (...) authored over 50 articles and chapters. He conducts seminars on ethics, risk management, and diagnostic consultation. (shrink)

The key concept in Business Ethics has changed from ‘corporate social responsibility’ to ‘integrated risk‐management’. This change, first wrought by American laws, has been extended to other countries through globalization. The most important laws concern corruption, anti‐trust, consumer safety, environmental protection and insider‐trading. The ‘Federal Corporate Sentencing Guidelines’ have particularly been helpful in identifying and valuing business risks. The author proposes a ‘next‐generation’ Business Ethics integrating personal, professional and organizational ethics in the context of an institutionalized, country‐sensitive ‘corporate (...) culture’. (shrink)

Lack of supportive workplaces may be depriving babies and mothers of the health advantages of breastfeeding. This citizen science pilot project set out to engage women in photographing and sharing information on the available facilities for breastfeeding and expressing and storing breastmilk in Australian workplaces. While some useful insights were gained, the project failed in the sense that 234 people ‘liked’ the project Facebook page set up to recruit participants, but only nine photographs were submitted. The heaviest loss of participation (...) occurred after the ethics committee requirements were explained, in particular, the requirement for employer consent to take a photograph, or alternatively, for a participant to agree to bear the risk of taking a photo without permission. The ethics committee also made stipulations about the formality of language to be used. Thus, the project’s potential role as an enabler for health action was neutered. We argue that the ethics requirements worked contrary to our purpose and possibly acted to reinforce the powerlessness some women experience at work. (shrink)

Although risk and uncertainty are inevitable aspects of the sustainability problem, they are often neglected in the sustainability discourse, especially in the economic analysis of sustainable development. We argue that this deprives the sustainability discourse of interesting connections to risk management. We show that defining sustainability as the obligation to limit the risk of harming future individuals provides a framework in which tools from risk management, like mean-variance analysis, can be employed to analyze planning (...) decisions and to calculate a risk-minimizing policy mix. Furthermore, we discuss whether such a notion of sustainability can be an ethically tenable sustainability concept and how a positive probability of harming future individuals might be defended. (shrink)

This revised 2nd edition of Engineering Risk Management presents engineering aspects of risk management. After an introduction to potential risks the authors presents management principles, risk diagnostics, analysis and treatments followed by examples of practical implementation in chemistry, physics and emerging technologies such as nanoparticles.

Risks allow a probability calculation; uncertainties do not. The incalculability of uncertainties may depend on many different factors. It may be that one does not have all the relevant information and that by collecting more information one may eventually deduce the distribution of the relevant events. However, this chapter’s claim is stronger than that: it claims that uncertain events are such that no increase of available information will allow their treatment as risks. The uncertainty of uncertain events is structural and (...) does not depend on a lack of information. We shall distinguish uncertainty arising from incomplete knowledge from uncertainty inherent in the system. The former is a kind of risk, the latter is uncertainty proper. Risk and uncertainty pertain to two different classes of events and there is no crossable boundary between them.The vast majority of future events are uncertain in the sense specified. Put otherwise, only a tiny minority of future events are amenable to probability assessments.The difference between risks and uncertainties shows that the expression “risk management” is far from adequate, since it explicitly refers only to risks and sidelines uncertainties. On the other hand, both risks and uncertainties should be addressed. By adding a reference to anticipation, the expression “anticipatory risk management” suggests a perhaps less inadequate coverage of the field. (shrink)

In the paper we consider an electricity provider company that makes decision on allocating resources on electric network maintenance. The investments decrease malfunction rate of network nodes. An accidental event or a malfunctioning on underground system can have various consequences and in different perspectives, such as deaths and injuries of pedestrians, fires in nearby locations, disturbances in the flow of vehicular traffic, loss to the company image, operating and financial losses, etc. For this reason it is necessary to apply an (...) approach of the risk management that considers the multidimensional view of the consequences. Furthermore an analysis of decision making should consider network dependencies between the nodes of the electricity distribution system. In the paper we propose the use of the simulation to assess the network effects in the multidimensional risk assessment in electricity grid. The analyzed effects include node overloading due to malfunction of adjacent nodes and blackouts that take place where there is temporarily no path in the grid between the power plant and a node. The simulation results show that network effects have crucial role for decisions in the network maintenance – outcomes of decisions to repair a particular node in the network can have significant influence on performance of other nodes. However, those dependencies are non-linear. The effects of network connectivity on its multidimensional performance assessment depend heavily on the overloading effect level. The simulation results do not depend on network type structure – however simulation outcomes for random networks have shown higher variance compared to small-world networks. (shrink)

Using the work of Jacques Ellul on technique and its development, this paper criticizes the technological risk management discourse, which claims that risks are “managed” within reasonable limits. In fact, the inevitability of technological change and the uncertainty associated with technology-induced environmental risks, some of which are still totally unknown, undermine the very possibility of democratic governance of risk. Our reliance on technique and the common belief in its infallibility make it particularly arduous to the follow the (...) path showed by Ellul. (shrink)

The likely near future creation of artificial superintelligence carries significant risks to humanity. These risks are difficult to conceptualise and quantify, but malicious use of existing artificial intelligence by criminals and state actors is already occurring and poses risks to digital security, physical security and integrity of political systems. These risks will increase as artificial intelligence moves closer to superintelligence. While there is little research on risk management tools used in artificial intelligence development, the current global standard for (...) risk management, ISO 31000:2018, is likely used extensively by developers of artificial intelligence technologies. This paper argues that risk management has a common set of vulnerabilities when applied to artificial superintelligence which cannot be resolved within the existing framework and alternative approaches must be developed. Some vulnerabilities are similar to issues posed by malicious threat actors such as professional criminals and terrorists. Like these malicious actors, artificial superintelligence will be capable of rendering mitigation ineffective by working against countermeasures or attacking in ways not anticipated by the risk management process. Criminal threat management recognises this vulnerability and seeks to guide and block the intent of malicious threat actors as an alternative to risk management. An artificial intelligence treachery threat model that acknowledges the failings of risk management and leverages the concepts of criminal threat management and artificial stupidity is proposed. This model identifies emergent malicious behaviour and allows intervention against negative outcomes at the moment of artificial intelligence’s greatest vulnerability. (shrink)

Ethical dilemmas involving tax issues were identified by members of the American Institute of Certified Public Accountants as posing the most difficult ethical problem for them (Finn et al., Journal of Business Ethics 7(8), pp. 607–609, 1988). The KPMG tax shelter fraud case proves that the tax profession has not gone untainted in the age of numerous accounting and corporate scandals, such as the Enron débâcle (Sikka and Hampton, Accounting Forum 29(3), 325–343, 2005). High-profile scandals serve to highlight the problems (...) caused by differences in ethical judgement among accountants and tax practitioners and the issue of ethics has been brought publicly to the forefront of the profession. Nevertheless, the nature and dimension of ethical issues in tax practice have been largely unexplored (Erard, Journal of Public Economics 52(2), 163–197, 1993; Marshall et al., Journal of Business Ethics 17(12), 1265–1279, 1998; Frecknall Hughes, Unpublished PhD Thesis, The University of Leeds, 2002). This research aims to contribute to the debate on ethics in tax practice by reporting interview data on tax practitioners’ perceptions of ethics in the jurisdictions of Ireland and the United Kingdom and exploring the link or equation of ethics with risk management. (shrink)

Risk management has become a vital topic both in academia and practice during the past several decades. Most business intelligence tools have been used to enhance risk management, and the risk management tools have benefited from business intelligence approaches. This introductory article provides a review of the state-of-the-art research in business intelligence in risk management, and of the work that has been actepted for publication in this issue.

School principals world-wide report high levels of strain and attrition resulting in a shortage of qualified principals. It is thus, crucial to identify psychosocial risk factors that reflect principals’ occupational wellbeing. For this purpose, we used the Copenhagen Psychosocial Questionnaire (COPSOQ-II), a widely used self-report measure covering multiple psychosocial factors identified by leading occupational stress theories. We evaluated the COPSOQ-II regarding factor structure and longitudinal, discriminant, and convergent validity using latent structural equation modeling in a large (...) sample of Australian school principals (N = 2,049). Results reveal that confirmatory factor analysis produced marginally acceptable model fit. A novel approach we call set exploratory structural equation modeling (ESEM-set), where cross-loadings were only allowed within a priori defined sets of factors, fit well, and was more parsimonious than a full ESEM. Further multitrait-multimethod models based on the set-ESEM confirm the importance of a principal’s psychosocial risk factors; Stressors and depression were related to demands and ill-being, while confidence and autonomy were related to wellbeing. We also show that working in the private sector was beneficial for showing a low psychosocial risk, while other demographics have little effects. Finally, we identify five latent risk profiles (high risk to no risk) of school principals based on all psychosocial factors. Overall the research presented here closes the theory application gap of a strong multi-dimensional measure of psychosocial risk-factors. (shrink)

It is widely recognized that endocrine disrupting compounds, such as Bisphenol A, pose challenges for traditional paradigms in toxicology, insofar as these substances appear to have a wider range of low-dose effects than previously recognized. These compounds also pose challenges for ethics and policymaking. When a chemical does not have significant low-dose effects, regulators can allow it to be introduced into commerce or the environment, provided that procedures and rules are in place to keep exposures below an acceptable level. This (...) option allows society to maximize the benefits from the use of the chemical while minimizing risks to human health or the environment, and it represents a compromise between competing values. When it is not possible to establish acceptable exposure levels for chemicals that pose significant health or environmental risks, the most reasonable options for risk management may be to enact either partial or complete bans on their use. These options create greater moral conflict than other risk management strategies, leaving policymakers difficult choices between competing values. (shrink)

With the spread of Information and Communication Technologies tools and the Internet, Twenty first century technologies have significantly affected human life, and it has been desired to be obtained continuously. It has become challenging to protect information due to the increase in the methods by which malicious people can get information. As a result, it is crucial to determine people’s awareness levels by revealing the risks and threats to information security. In this context, a study was conducted to show the (...) awareness levels of teachers who come after the family in raising conscious individuals in society. For this purpose, a quantitative research method was adopted for the problem and sub-problems that form the basis of the research. The survey model, one of the research designs used within the framework of the quantitative research method, was used. Information Security Awareness Scale was applied to 394 teachers, and according to the results obtained, it was determined that the information security awareness level of the teachers was moderate. According to the attacks and threats sub-dimension, which includes technical issues, it has been determined that the awareness levels of the teachers are at a medium level. The study results show that female teachers’ information security awareness levels are lower than male teachers. In comparison, the awareness levels of those who received information security awareness training and information technology teachers are higher. (shrink)

This very short paper highlights some of my recent and forthcoming work on “good epistemic practices” in the financial services industry. It identifies some epistemic dimensions of risk management in banking and illustrates how managing for good epistemic practices might be helpful.

Factory floors throughout the global economy are rapidly transforming themselves into potentially fertile laboratories for research in the cognitive sciences. The information revolution has challenged our understanding of perception and cognition. Innovations in information technologies have also provided us with new methods and environments for the study of cognition. On the business and economic front, information technology is supporting the development of new corporate information systems-Enterprise Systems-that will revolutionize the decision-making, reporting and reward environments in corporations. These systems are pervasive (...) and transforming. At all levels, employees will be presented with potentially unlimited amounts of accurate, real-time information and will be expected to use that information effectively. The possibilities for research, especially for modeling the learning and decision-making processes, are unparalleled. Research conducted in these environments offers extraordinary opportunities to address research questions formerly requiring limited synthetic environmental situations. Data collected in firms as they deploy enterprise information systems can be more extensive and accurate and more easily quantified than data from traditional synthetic experiments. Research programs in these settings can also address more complex problems of human interaction and collaborativity. This article describes the aspects of enterprise systems that will be of greates interest to cognitive scientists. It also outlines the nature of potential collaboration between economists and cognitive scientists and offers a list of outstanding questions for systems design and development. (shrink)

Although previous studies have acknowledged the connections between gender and emotional competences, more research is needed on how gender and emotion interact to influence psychosocial risks at work. This paper addresses how gender stereotypes and emotions simultaneously act as psychosocial antecedents of organizational stress. Following the principles of psychological androgyny, we propose that a combination of communion and agency can serve as a preventive factor at work and lead to healthier responses by providing a wider range of emotional (...) competences to deal with organizational demands. Following previous methodological approaches, we include a quantitative review about scientific research on occupational health in the PsycINFO database during the period 1980–2017 from a multidimensional gender perspective that differentiates between studies addressing the topic from either sex, gender or gender identity dimensions. Finally, we propose new analytical directions to deal with psychosocial hazards at work by underscoring some of the complex ways in which gender and emotional competences influence psychosocial risks at work. (shrink)

There is limited knowledge of the prevalence and nature of risky sexual behavior (RSB) among young adults in Hong Kong. This cross-sectional study explored the psychosocial risk factors of RSB with a sample of 1,171 Hong Kong university students (aged 18–40 years). Grounded in the theoretical propositions of several criminological theories (i.e., the theories of self-control, general strain, social learning, social control, and routine activity), engagement in three types of RSB (i.e., general, penetrative, and non-penetrative) was studied alongside (...) a range of psychosocial risk factors. Relative to female participants, male participants reported significantly higher mean levels of general, penetrative, and non-penetrative RSB. Male participants also reported significantly higher mean levels of negative temperament, use of alcohol and other drugs, and paraphilic interests than female participants, who reported significantly higher mean levels of self-control and social bonds than their male counterparts. The results of multivariate analyses (i.e., OLS regressions) revealed that, to a large extent, the male and female participants shared a similar set of psychosocial risk factors (i.e., use of alcohol and other drugs, and paraphilic interest) for their involvement in general, penetrative, and non-penetrative RSB. Furthermore, a high level of negative temperament was significantly associated with penetrative RSB for both genders, while a high level of perceived neighborhood disorganization was found to be an important factor in the participation of females in general, penetrative, and non-penetrative RSB. The findings of this study may have important implications for practice in regard to reducing, if not entirely preventing, the tendency to engage in RSB. (shrink)

This study examines the role of corporate philanthropy in the management of reputation risk and shareholder value of the top 100 ASX listed Australian firms for the 3 years 2011–2013. The results of this study demonstrate the business case for corporate philanthropy and hence encourage corporate philanthropy by showing increasing firms’ investment in corporate giving as a percentage of profit before tax, increases the likelihood of an increase in shareholder value. However, the proviso is that firms must also (...) manage their reputation risk at the same time. There is a negative association between corporate giving and shareholder value which is mitigated by firms’ management of reputation. The economic significance of this result is that for every cent in the dollar the firm spends on corporate giving, Tobin’s Q will decrease by 0.413 %. In contrast, if the firm increase their reputation by 1 point then Tobin’s Q will increase by 0.267 %. Consequently, the interaction of corporate giving and reputation risk management is positively associated with shareholder value. These results are robust while controlling for potential endogeneity and reverse causality. This paper assists both academics and practitioners by demonstrating that the benefits of corporate philanthropy extend beyond a gesture to improve reputation or an attempt to increase financial performance, to a direct collaboration between all the factors where the benefits far outweigh the costs. (shrink)

In this study, we investigate whether firms recognised as superior sustainability performers respond differently to climate change regulatory, physical and other risks/opportunities and examine whether such differences predict sustainability performance in subsequent years. Further, we seek to gain insights from climate change programs and strategies of both superior and inferior sustainability performers. Adopting mixed methods, we use a merged sample from the Top500 world’s largest firms and the Global 100 Most Sustainable Corporations. Our quantitative analyses show that greater awareness of (...) physical and other climate change opportunities is what sets superior performers apart, and that superior future sustainability performance is related to a firm’s stated awareness of these two types of opportunities. Qualitative content analysis of narrative disclosures confirm that superior performers provide more detailed description of climate change strategies that go beyond managing climate change risks. Our study contributes to the limited amount of research highlighting the value of proactively seeking opportunities rather than merely focussing on risk management. (shrink)

Reputation is a commercially valuable asset. This book focuses upon how enhanced reputation can contribute to commercial asset management through increased share price premium and competitive performance, while reputation loss can significantly erode the ability of the business to successfully retain market share, maximize shareholder value, raise finance, manage debt, and remain independent. It provides practical models and checklists designed to plan reputation management and risk communication strategies.

This volume explores various aspects of risk taking. It offers an analysis of financial, entrepreneurial and social risks, as well as a discussion of the ethical implications of empirical findings. The main issues examined in the book are the financial crisis and its implications for business ethics. The book discusses unethical behaviour as a reputational risk (e.g., in the case of Goldman Sachs) and the question is raised as to what extent the financial crisis has changed the banks’ (...) entrepreneurial strategy. The book presents an analysis of the reasons leading to the crisis and identifies them as ethical dilemma structures. In addition, it looks at general questions regarding ethical behaviour and risk taking, such as: To what extent does the social embeddedness or abstraction play a role in guaranteeing ethical behaviour? What conclusions can be drawn from institutional or evolutionary perspectives on risk management? Finally, the book discusses further issues that become factors of risk within and between societies, such as work insecurity, corruption or the problem of facilitation payments as a risk in international transactions. (shrink)

Open theism denies that God has definite exhaustive foreknowledge, and affirms that God takes certain risks when creating the universe. Critics of open theism often complain that the risks are too high. Perhaps there is something morally wrong with God taking a risk in creating a universe with an open future. Open theists have tried to respond by clarifying how much risk is involved in God creating an open universe, though we argue that it remains unclear how much (...) risk is actually involved. We claim that open theists need to start developing theories about how God manages risks in order to bring about His purposes for the universe. In this article, we will take a philosophical and biological perspective on risk management that adds plausibility to open theism. We will consider how God can use different risk‐management, surveillance, and redundancy systems in the natural world in order to accomplish His goals. (shrink)

Using exploratory factor analysis on a unique dataset of global executives, we find that their perceptions of their national government’s risk management effectiveness are largely driven by two latent factors: leadership virtue, and governance. We show that the leadership virtue signal is potentially a stronger signal. We hypothesize that this may be because making decisions and taking actions to manage risk is a continuous process requiring inter alia foresight and moral discipline in looking to the interests of (...) others and acting in service to those interests above self-interest. This suggests at least two propositions for further testing, for which, we offer rhetorical argument and anecdotal evidence at the end of this paper and suggest methodologies for further testing. To our knowledge, this is the first paper to uncover this connection empirically between national risk management and leadership virtue. (shrink)