Enterprise Risk Management: Technical, Cognitive, and Social Perspectives (Routledge Advances in Management and Business Studies)

ERM is considered a dynamic capability that is critical to companies’ success from strategic and performance perspectives and is increasingly implemented in response to growing pressure from external stakeholders to enact and add legitimacy to existing management control systems.However, implementing ERM is a challenging process where success is dependent on balancing technical and social factors.This book explores the challenges of implementing ERM from technical, cognitive, and social perspectives to enhance the organisation’s capacity to generate and integrate information and knowledge about risk and uncertainty. In existing publications, ERM implementation is mainly viewed from technical or educational perspectives and treated as formal, technical, linear processes.This book takes a different stance by recognising that implementation depends on formal and informal mechanisms that require a balanced combination of technical and social approaches.It changes the paradigm to demonstrat