Cultural Theory of Risk

Writing Assignment Related to Risk Culture. Cultural Theory of Risk

Due via e-mail submission on Thursday, February 4th

The theme of writing assignment  # 1 was to examine a narrative of how a specific firm (MSFT) responded to a perceived risk so as to minimize the damage to the firm if the risk were to occur.  The thrust of the narrative was to describe how the company, via prudent investment in software, focused on daily financial cash management operations, reduced (1) the probability of the risk ever occurring, and  (2)  the potential damage to the firm if the risk did emerge.

The theme of writing assignment # 2 was to examine the required background, knowledge, skills, and judgment needed of a professional in the risk management field.  This was examined by focusing on three broad roles a risk manager might be responsible for:  (1) Supervising behavior and risk compliance within an established private firm; (2) Using government and private funds to design risk systems for smaller or newer firms, and to train the people involved in implementing the risk management systems; (3) NGO and/or governmental Regulatory and Supervisory work in situations where something has “gone off the rails” and there is a need to determine what happened, catch and deal with those responsible and recover what can be salvaged both monetarily and operationally.

The theme of this writing assignment # 3 is to begin to consider the organizational cultural and behavioral details about exactly how to plan, structure, implement, and control / improve the performance of sustainable and effective risk management processes within the business, government, and NGO entities.

Each student has been assigned a different detailed article related to this broad topic.  Some of the articles focus on specific management skills & techniques to be used, others describe risks about some sub-functions within the firm (audit, strategy, client relations, marketing, etc.), and still, others adopt a managerial theory perspective to this task.

Your job is to read, summarize, and critique the assigned document, and in addition prepare a “3-minute bullet point oral primer” for other students to hear, so that everyone will get a flavor of the many possible means and tools to build an effective risk culture awareness mentality within the organization.

750+ words; submit by email; Due at class time on Thursday, Feb 4; consultations with me encouraged as needed. For more information on Cultural Theory of Risk check on this: https://en.wikipedia.org/wiki/Cultural_theory_of_risk

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