Organizational Risk after Modernism

Author:

Miller Kent D.1

Affiliation:

1. Michigan State University, USA,

Abstract

This study identifies the modernist assumptions in organizational risk research, along with their historical origin and limitations. Risk research from a modernist perspective focuses primarily on individuals, treats risk preferences as exogenously given, attempts to quantify risk, assumes that risk reflects a given probability distribution, omits ethical considerations, and neglects actions by focusing on decision making. This study proposes a contrasting postmodern perspective on organizational risk. By this view, risk is a social and multilevel phenomenon; risk preferences, perceptions, and responses are learned; risk is subjectively perceived and often unquantifiable; the environment is a complex, socially constructed system; ethical considerations are integral to risk assessment and management; and organizations respond to risk through their actions, not just by making decisions. These themes motivate new directions for organizational risk research.

Publisher

SAGE Publications

Subject

Management of Technology and Innovation,Organizational Behavior and Human Resource Management,Strategy and Management

Reference165 articles.

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