Int. J. of Business Continuity and Risk Management   »   2011 Vol.2, No.4

 

 

Title: Risk management pervasiveness and organisational maturity: a critical review

 

Authors: Craig Mauelshagen; Sophie Rocks; Simon Pollard; David Denyer

 

Addresses:
The Collaborative Centre of Excellence in Understanding and Managing Natural and Environmental Risks, Cranfield University, Cranfield, Bedfordshire, MK43 0AL, UK.
The Collaborative Centre of Excellence in Understanding and Managing Natural and Environmental Risks, Cranfield University, Cranfield, Bedfordshire, MK43 0AL, UK.
The Collaborative Centre of Excellence in Understanding and Managing Natural and Environmental Risks, Cranfield University, Cranfield, Bedfordshire, MK43 0AL, UK.
Cranfield School of Management, Cranfield University, Cranfield, MK43 0AL, UK

 

Abstract: Implementing risk management remains a significant challenge for many organisations. In order to help address this issue, risk management maturity models have become an important tool for improving and assessing organisational risk capability. In this paper, we present a critical review of the existing literature on risk management maturity models. Drawing on existing theory, we challenge current conceptions of organisational culture and reveal assumptions that are commonly implied but rarely acknowledged. We offer a new conception of organisational risk management maturity that takes into consideration both the extent to which risk behaviour is coordinated across the whole organisation and the depth to which risk management is embedded in its' culture. Our aim in producing a theoretically informed conceptualisation of risk maturity is to help provide explanation, synthesis and cohesion in a fragmented field and to help make risk maturity research more relevant and valuable to risk practitioners.

 

Keywords: maturity models; pervasiveness; risk culture; risk behaviour; enterprise risk management; organisational culture; organisational maturity; organisational risk capability.

 

DOI: 10.1504/IJBCRM.2011.044405

 

Int. J. of Business Continuity and Risk Management, 2011 Vol.2, No.4, pp.305 - 323

 

Available online: 14 Dec 2011

 

 

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