a column by Jon Danielsson and Robert Macrae for VOX: CEPR’s Policy Portal
The type of risk we most care about is long-term, what happens over years or decades, but we tend to manage that risk over short periods.
This column argues that the dissonance of risk is that we measure and manage what we don't care about and ignore what we do.
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Showing posts with label risk_management. Show all posts
Showing posts with label risk_management. Show all posts
Wednesday, 14 August 2019
Tuesday, 19 March 2013
The “Management Standards” for stress in large organizations
an article by Nadine Mellor and Phoebe Smith (Health and Safety Laboratory (HSL), Buxton, UK) and Colin Mackay and David Palferman (Health and Safety Executive (HSE), Bootle, UK) published in International Journal of Workplace Health Management Volume 6 Issue 1 (2013)
Abstract
Purpose
In Great Britain, the ‘”Management Standards” were launched in 2004 and formally published in 2007 by the Health and Safety Executive to help organisations manage work-related stress. The purpose of this paper is to examine how these Standards are translated into organisational practice.
Design/methodology/approach
The research uses case studies carried out in five large organisations drawn from the public and private sectors in Great Britain.
Findings
Senior management commitment and worker participation are key to managing work-related stress and are commonly reported across organisations, although to variable form and depth. The solution chosen to identify stress issues is a short assessment of all staff via annual staff surveys, coupled with in-depth assessments of groups at risk. Common practice also includes combining individual and organisational interventions. One significant challenge emerges as the translation from identified stress issues to focussed interventions and their evaluation.
Research limitations/implications
The implementation processes outlined in this study are by no means exhaustive due to the small sample size but are consistent with previous research.
Practical implications
The findings suggest that the HSE Management Standards approach for dealing with stress issues is do-able. Refining the information in the HSE guidance on implementing and evaluating interventions and broadening the current focus on organisation-level interventions is needed.
Originality/value
Publication of case studies of the implementation of the Management Standards has been limited. This paper illustrates the efforts made by large organisations to integrate national guidance on stress and this could be used for guiding and improving stress management in similar work settings.
Abstract
Purpose
In Great Britain, the ‘”Management Standards” were launched in 2004 and formally published in 2007 by the Health and Safety Executive to help organisations manage work-related stress. The purpose of this paper is to examine how these Standards are translated into organisational practice.
Design/methodology/approach
The research uses case studies carried out in five large organisations drawn from the public and private sectors in Great Britain.
Findings
Senior management commitment and worker participation are key to managing work-related stress and are commonly reported across organisations, although to variable form and depth. The solution chosen to identify stress issues is a short assessment of all staff via annual staff surveys, coupled with in-depth assessments of groups at risk. Common practice also includes combining individual and organisational interventions. One significant challenge emerges as the translation from identified stress issues to focussed interventions and their evaluation.
Research limitations/implications
The implementation processes outlined in this study are by no means exhaustive due to the small sample size but are consistent with previous research.
Practical implications
The findings suggest that the HSE Management Standards approach for dealing with stress issues is do-able. Refining the information in the HSE guidance on implementing and evaluating interventions and broadening the current focus on organisation-level interventions is needed.
Originality/value
Publication of case studies of the implementation of the Management Standards has been limited. This paper illustrates the efforts made by large organisations to integrate national guidance on stress and this could be used for guiding and improving stress management in similar work settings.
Wednesday, 18 April 2012
Risk, trust and eID: Exploring public perceptions of digital identity systems
an article by Ruth Halperin (Haifa University, Israel) and James Backhouse (LSE, Department of Management) published in First Monday Volume 17 Number 4 (April 2012)
Abstract
This paper offers an account of the perceptions of citizens from the U.K. and Germany on the subject of interoperable electronic identity (eID) systems. It draws on a grounded empirical analysis identifying the risks that citizens associate with online identity management systems: information risk, economic risk and socio-political risk.
Our study suggests that the perceived risks derive from, and are amplified by, low trust beliefs in public authorities responsible for identity management. Three dimensions of trustworthiness in government were found – competence, integrity and benevolence – constructed from negative past experiences of IT failures, function creep, and political history of oppression.
To theorise our findings we propose a model depicting the relationships between trust, risk and behavioural intentions. Practical implications deriving from the study concern trust enhancement and risk reduction strategies aimed at winning public acceptance of eID systems in electronic services.
Abstract
This paper offers an account of the perceptions of citizens from the U.K. and Germany on the subject of interoperable electronic identity (eID) systems. It draws on a grounded empirical analysis identifying the risks that citizens associate with online identity management systems: information risk, economic risk and socio-political risk.
Our study suggests that the perceived risks derive from, and are amplified by, low trust beliefs in public authorities responsible for identity management. Three dimensions of trustworthiness in government were found – competence, integrity and benevolence – constructed from negative past experiences of IT failures, function creep, and political history of oppression.
To theorise our findings we propose a model depicting the relationships between trust, risk and behavioural intentions. Practical implications deriving from the study concern trust enhancement and risk reduction strategies aimed at winning public acceptance of eID systems in electronic services.
Tuesday, 9 September 2008
An economic modelling approach to information security risk management
an article by Rok Bojanca and Borka Jerman-Blažič (Faculty of Economics, Ljubljana University and Jožef Stefan Institute, Slovenia) in International Journal of Business Science and Applied Management Volume 3 Issue 3 (2008)
Abstract
This paper presents an approach enabling economic modelling of information security risk management in contemporaneous businesses and other organisations. In the world of permanent cyber attacks to ICT systems, risk management is becoming a crucial task for minimisation of the potential risks that can endeavour their operation. The prevention of the heavy losses that may happen due to cyber attacks and other information system failures in an organisation is usually associated with continuous investment in different security measures and purchase of data protection systems. With the rise of the potential risks the investment in security services and data protection is growing and is becoming a serious economic issue to many organisations and enterprises. This paper analyses several approaches enabling assessment of the necessary investment in security technology from the economic point of view. The paper introduces methods for identification of the assets, the threats, the vulnerabilities of the ICT systems and proposes a procedure that enables selection of the optimal investment of the necessary security technology based on the quantification of the values of the protected systems. The possibility of using the approach for an external insurance based on the quantified risk analyses is also provided.
Abstract
This paper presents an approach enabling economic modelling of information security risk management in contemporaneous businesses and other organisations. In the world of permanent cyber attacks to ICT systems, risk management is becoming a crucial task for minimisation of the potential risks that can endeavour their operation. The prevention of the heavy losses that may happen due to cyber attacks and other information system failures in an organisation is usually associated with continuous investment in different security measures and purchase of data protection systems. With the rise of the potential risks the investment in security services and data protection is growing and is becoming a serious economic issue to many organisations and enterprises. This paper analyses several approaches enabling assessment of the necessary investment in security technology from the economic point of view. The paper introduces methods for identification of the assets, the threats, the vulnerabilities of the ICT systems and proposes a procedure that enables selection of the optimal investment of the necessary security technology based on the quantification of the values of the protected systems. The possibility of using the approach for an external insurance based on the quantified risk analyses is also provided.
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