Deficiencies and Problems I: Concepts

Erik Banks

Chapter 4 in Risk Culture, 2012, pp 66-85 from Palgrave Macmillan

Abstract: Abstract In the previous chapters we have outlined the risk process, presented some definitions of risk culture and its practical manifestation when successfully implemented, and considered why a firm might move toward the establishment of a risk culture. In this chapter we shift our focus slightly to explore the causes of a weak risk culture and the problems that surface when a risk culture is not part of the corporate fabric. We also consider the ultimate consequences that can befall a firm in this state. We shall drive home the key points in the next chapter by referring to examples from the real world where a flawed or deficient risk culture created an environment where losses (or worse) became a reality.

Keywords: Risk Management; Risk Process; Risk Governance; Credit Rating Agency; Risky Business (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-26372-8_4

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DOI: 10.1057/9781137263728_4

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