A FRAMEWORK FOR MANAGING RISKY SITUATIONS

Abstract

This paper presents a framework consisting of seven logically linked considerations yielding nine strategies for managing risky situations. The framework provides a comprehensive method any entity can use to determine its strategy for managing a risky situation. The framework goes beyond the issue of calculating risk to asking how it might be managed The framework is applied in an example involving a human resources manager making a series of three related choices. It is also applied to the choices of strategies for a chief financial officer facing currency rate fluctuations and excessive taxes on profit.

Citation

Mackenzie, K.D. (1998), "A FRAMEWORK FOR MANAGING RISKY SITUATIONS", The International Journal of Organizational Analysis, Vol. 6 No. 1, pp. 5-31. https://doi.org/10.1108/eb028876