Understanding and Managing Risk Attitude

Front Cover
Gower Publishing, Ltd., Jan 1, 2005 - Business & Economics - 182 pages
1 Review
Assuming a basic knowledge of risk management concepts and processes, Hillson (director, Risk Doctor & Partners) and Murray-Webster (managing partner, Lucidus Consulting) focus on a key human determinant of the success or failure of risk management, risk attitudes held by individual and groups within organizations. They explain how risk attitudes i
  

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Risk Management Status Quo Efficient but not Effective?
3
What is risk?
4
What is attitude?
6
Risk management in todays business
9
Is risk management effective?
11
Purpose and structure of this book
14
The Importance of Human Factors in Risk Management
17
Why human factors matter to risk management
19
UNDERSTANDING EMOTIONAL LITERACY
85
Emotion Definition and Relevance
87
The history of emotional intelligence
88
From emotional intelligence to emotional literacy
93
Emotional literacy and risk management
95
Conclusion
99
Emotional Literacy for Individuals
101
Open loop system
104

Risk management and the group
28
Diagnosis is not the same as treatment
36
UNDERSTANDING RISK ATTITUDES
39
General Principles of Risk Attitudes
41
Basic risk attitudes
45
Situational influences on preferred risk attitude
48
Internal influences on preferred risk attitude
50
Conclusion and summary
51
Individual Risk Attitudes and Heuristics
53
The availability heuristic
55
The representativeness heuristic
57
The anchoring and adjustment heuristic
59
The confirmation trap
62
Understanding individual heuristics
64
Group Risk Attitudes and Heuristics
67
Understanding group risk culture
68
The groupthink heuristic
70
The Moses Factor
71
The cultural conformity heuristic
73
The risky shift and cautious shift heuristics
75
The influence of national culture
77
Modifying group risk culture
83
A mindset of choice
106
Component parts of individual emotional literacy
107
Stages of individual emotional development
123
Emotional Literacy for Groups
127
Component parts of group emotional literacy
128
The role of leadership
134
Going forward
139
IMPLEMENTATION ISSUES
141
Applying Emotional Literacy to Risk Attitudes
143
Emotionally literate management of risk attitudes
147
Making the change
148
Summary and first steps
150
Final Thoughts and the Way Ahead
151
Difficulties in understanding risk attitude
153
Difficulties in managing risk attitude
155
Too hard?
156
Future developments
157
Conclusion
159
Emotional IntelligenceLiteracy Tools
161
Bibliography and Further Reading
167
Index
179
Copyright

Common terms and phrases

References to this book

All Book Search results »

Bibliographic information