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2016 | OriginalPaper | Chapter

1. Framing the Risk Challenge

Authors : Nabil Abu el Ata, Rudolf Schmandt

Published in: The Tyranny of Uncertainty

Publisher: Springer Berlin Heidelberg

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Abstract

Through established risk management practices, organizational leaders attempt to optimize business outcomes. However, management is handicapped by an inability to accurately predict the future behavior of corporate, economic, or industrial systems. Due to the deficiencies of current risk management approaches, organizations are often forced to reactively respond to risk because they are unable to rapidly diagnose and consequently fix problems before a risk leads to a crisis. The cause of this modern day predicament is the growing dynamic complexity that occurs over time and the negative effects dynamic complexity plays in a systemic implementation.

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next chapter Understanding the Hidden Risk of Dynamic Complexity
Footnotes
1
Dicks, D.R. Early Greek Astronomy to Aristotle. Ithaca, N.Y.: Cornell University Press. pp. 72–198. 1970. Print. ISBN 978-0-8014-0561-7.
 
2
Pigafetta, Antonio. Magellan’s Voyage around the World. Cleveland: The Arthur H. Clark Company. 1906. Print.
 
3
Oxford English Dictionary. Web. 8 February 2015.
 
4
Bloomberg Business. No Recession, But… 19 December 2007. Web. 26 July 2015.
 
5
Schmidt, Marcus. Investigating risk perception: a short introduction. October 2004. Web. 28 January 2015.
 
6
Slovic, Paul. Perception of Risk. Science, New Series, Volume 236, Issue 4729. 17 April 1987, 280–285. American Association for the Advancement of Science.
 
7
Shaikh, Thair. Air France crash pilots lost vital speed data, say investigators. CNN. 29 July 2011. Web. 5 August 2015.
 
Metadata
Title
Framing the Risk Challenge
Authors
Nabil Abu el Ata
Rudolf Schmandt
Copyright Year
2016
Publisher
Springer Berlin Heidelberg
Book
The Tyranny of Uncertainty

Print ISBN: 978-3-662-49103-4

Electronic ISBN: 978-3-662-49104-1

Copyright Year: 2016

DOI
https://doi.org/10.1007/978-3-662-49104-1_1