Risk management

David E. Hawkins

Chapter Chapter 15 in Corporate Social Responsibility, 2006, pp 122-131 from Palgrave Macmillan

Abstract: Abstract One cannot look at the issue of sustainability and CSR without raising the spectre of risk management and the risk involved in ignoring the warning signs. Business is about managing risk, and the principle cannot be ignored that the greater the risk, generally the higher margins. It is perhaps this factor more than most that drives organizations to over-reach themselves and find their business strategies, plans and reporting seriously exposed to the rigours of government, NGO or community criticism regarding sustainability issues. The challenge is to navigate between the benefits, corporately and individually, of facing short-term risk and the potential benefits of taking a longer-term view that builds on sustainable approaches and reduces risk. Even in the short term, effective and responsible management of sustainable issues can add value and reduce risk.

Keywords: Corporate Social Responsibility; Supply Chain; Risk Management; Risk Issue; Risk Management Strategy (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62581-5_15

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DOI: 10.1057/9780230625815_15

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