The culture of an organization is a powerful force. It drives risk-taking, which can be good risk-taking, where employees identify the threats and control them or identify the opportunities and take them. Or it can be ‘evil’ risk-taking, where threats are not understood, misjudged or tolerated, or opportunities are missed.
There are key indicators that can tell you which culture you have – the wicked one or the virtuous one, and this presentation will help you decide.
- The difference between opportunity and threat: both are ‘risks’
- The perception of risk: cognitive limitations & behavioural failures
- The tolerance of risks: reasons, incidence of and effects
- Systemic risks: upstream vs. downstream in the operations