ABSTRACT
The various organizational, programmatic, and sociolegal phenomena reect the risk society rubric initially popularized by Beck (1992). Ultimately, almost any and every human behavior and activity can be described and dened in terms of risk-based dialogues. It is increasingly evident that, because they impact on all aspects of our lives through institutions, organizations, communities, and jurisdictions, risk issues are also matters intimately concerned with life and living, affecting not just human societies, but also the natural environment. The World Economic Forum (WEF, 2014) report noted the trend in organizations away from individual risk planning in technical terms toward a more holistic approach to a range of less well specied risks. Of conceptual interest is the WEF’s equating of “risks” as exclusively downside, perhaps also reecting an aspect of the risk society. Contemporary risks to organizations and communities are frequently interdependent and interconnected, requiring exible, holistic, collaborative, and resilient solutions. Chief risk ofcers (CROs) at the director level are often the strategic RM standard-bearers in defending organizational vulnerabilities. Designating cabinet-level national risk ofcers has also been proposed (Michel-Kerjan, 2012). The RM process has expanded to incorporate eight stages (WEF, 2104): (1) identify risks, (2) prioritize top risks, (3) undertake risk assessment (RA), (4) identify RM options, (5) design RM strategy, (6) design crisis management (CM) strategy, (7) implement strategy, and (8) monitor progress and update strategy.
