ABSTRACT
This chapter explores how leader can create and sustain the risk culture needed to make intentional choices and Risk-Intelligent Decisions. As organizational agility and flexibility become increasingly valued capabilities, there is a growing interest in how to build a culture that is exploratory, innovative, and adaptive, yet that is still able to uphold standards and conduct and that also gets the most out of past investments in products and services. In 2012, the Institute of Risk Management conducted research and published guidance on risk culture. As leaders lead their team toward informed choices and risk-intelligent decision making, they will need to address four aspects of behavior that are essential for shaping a mature risk culture: how they communicate, how they enable information sharing, how they support people, and how they recognize and reward risk taking. Risk culture affects all organizational activity to identify, analyze, and respond to threats and opportunities to objectives.
