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"Now you have some more managerial risk than you did before, too".
Keane may have a formidable football reputation but he would still represent a managerial risk; one glance at his individual record highlights that much.
Social science discourses are used to discuss the possible consequences of these perceptions upon managerial risk behaviours, including those of "Getting Better" and "Getting Smarter", and to consider possible managerial risk mitigation options.
We identify the critical issue of managerial risk vulnerability related to 'standard equivocality' which is the absence of commonly recognised standards for hazard communications to risk decision makers.
Three ways of behaving better, or at least differently, as a reaction to real and/or perceived managerial risk increases, are "Get Better" at societal risk management, "Get Smarter" at managerial risk management or "Get a Lawyer" 1(Hood 1986, Hood 2001; Rothstein et al. 2006).
This has implications for board oversight of managerial risk taking, firms' development of comparative advantage in taking particular risks, and compensation design.
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We undertake a broad-based study of the effect of managerial risk-taking incentives on corporate financial policies and show that the risk-taking incentives of chief executive officers (CEOs) and chief financial officers (CFOs) significantly influence their firms' financial policies.
They are the entities and individuals exposed to the circumstance (the governance of societal risks) that causes managerial risks.
Table 1 The variables of societal and managerial risks in relation to volcanic hazards Societal risks Managerial risks Hazards A wide range of scenarios including ash fall, lavaflows, lahars, earthquakes, pyroclastic flows etc. that represent volcanic hazards.
Table 1 summarises commonalities in the governance of societal and managerial risks in the context of volcanic hazards.
Table 1 summarises a common approach to the governance of societal and managerial risks in the context of volcanic hazards.
Related(20)
executive risk
management risk
governance risk
command risk
leadership risk
professionals risk
leading risk
operational risk
professional risk
executives risk
departmental risk
managerial risks
managerial hazards
administrative risk
managerial response
managerial award
managerial autonomy
managerial competence
managerial training
managerial skill
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com