10.7 Culture and risk culture Flashcards
Which group of people is most key in effective risk management?
Employees
Give three examples of macro cultures.
Country/region a person grew up in Religion Family influences Place and level of education Professional training and experiences
What are the 5 levels of culture relating to risk management (in the culture onion)?
Macro cultures Organisational culture Organisational risk culture Risk sub-culture Individual
Ahby offers three key layers of organisational culture. What are these?
Visible products of culture (e.g. dress code)
Beliefs and values spoken about
Deeper underlying assumptions
There are a number of indicators of the risk culture of an organisation. List 5.
1 Level of risk taking considered desirable
2 The level of risk control considered desirable
3 How different types of risk are percieved
4 Why risk management is percieved as needed (box ticking vs valued-add)
5 Importance attached to risk management
6 The level of awareness employees have about risk
7 How employees respond to policies and procedure
8 Whether risk events are percieved as learning opportunities
9 Whether employees report risk events
What is a risk sub culture?
A separate culture within a wider one with deviations from the main culture.
Give an examples of a failure associated with a risk sub culture.
Barclays LIBOR scandal
VW emissions scandal
