Organizational Risk Management: Managing for Uncertainty and Ambiguity

The objective of the multi-volume book Developments in Managing and Exploiting

Risk is to offer a balanced view to enable the reader to better appreciate risk as a

counterpart to reward, and to understand how to holistically manage both elements of this

duality. Crises can challenge any organization, and with a seemingly endless stream of

disruptive and even catastrophic events taking place, there is an increasing emphasis on

preparing for the worst. However, being focused on the negative aspects of risk, without

giving consideration to the positive attributes, may be shortsighted. Playing it safe may not

always be the best policy, because great benefits may be missed.

Analyzing risk is difficult, in part because it often entails events that have never

occurred. Organizations, being mindful of undesirable potential events, are often keenly

averse to risk to the detriment of capitalizing on its potential opportunities. Risk is usually

perceived as a negative or downside but a commensurate weight should also be given to

the potential rewards or upside, when evaluating new ventures. Even so, too much of a

good thing may create unintended consequences of positive risk, which is also an

undesirable situation. Developments in Managing and Exploiting Risk provides a

professional and scholarly venue in the critical field of risk in business with particular

emphasis on decision-making using a comprehensive and inclusive approach.