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Organizing risk : organization and management theory for the risk society
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Hardy, Cynthia, Maguire, Steve, Power, Michael and Tsoukas, Haridimos (2020) Organizing risk : organization and management theory for the risk society. Academy of Management Annals, 14 (2). pp. 1032-1066. doi:10.5465/annals.2018.0110 ISSN 1941-6520.
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Official URL: https://doi.org/10.5465/annals.2018.0110
Abstract
Risk has become a crucial part of organizing, affecting a wide range of organizations in all sectors. We identify, review and integrate diverse literatures relevant to organizing risk, building on an existing framework that describes how risk is organized in three ‘modes’ – prospectively, in real-time, and retrospectively. We then identify three critical issues in the existing literature: its fragmented nature; its neglect of the tensions associated with each of the modes; and its tendency to assume that the meaning of an object in relation to risk is singular and stable. We provide a series of new insights with regard to each of these issues. First, we develop the concept of a risk cycle that shows how organizations engage with all three modes and transition between them over time. Second, we explain why the tensions have been largely ignored and show how studies using a risk work perspective can provide further insights into them. Third, we develop the concept of risk translation to highlight the ways in the meanings of risks can be transformed and to identify the political consequences of such translations. We conclude the paper with a research agenda to elaborate these insights and ideas further.
Item Type: | Journal Article | ||||||||||||
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Subjects: | B Philosophy. Psychology. Religion > BF Psychology H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HM Sociology |
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Divisions: | Faculty of Social Sciences > Warwick Business School > Industrial Relations & Organisational Behaviour Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Risk , Risk-taking (Psychology), Risk management , Risk management -- Social aspects, Risk assessment , Organizational behavior | ||||||||||||
Journal or Publication Title: | Academy of Management Annals | ||||||||||||
Publisher: | Academy of Management | ||||||||||||
ISSN: | 1941-6520 | ||||||||||||
Official Date: | 2020 | ||||||||||||
Dates: |
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Volume: | 14 | ||||||||||||
Number: | 2 | ||||||||||||
Page Range: | pp. 1032-1066 | ||||||||||||
DOI: | 10.5465/annals.2018.0110 | ||||||||||||
Status: | Peer Reviewed | ||||||||||||
Publication Status: | Published | ||||||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||||||
Date of first compliant deposit: | 9 November 2020 | ||||||||||||
Date of first compliant Open Access: | 10 August 2021 | ||||||||||||
RIOXX Funder/Project Grant: |
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