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Surviving the age of risk: a call for ethical management

Author(s): Lance J. Ewing, Ryan B. Lee
Year Published: 2004
Description:

Ewing and Lee look at some of the ways to consider ethical risk management in a corporate context, which have changed because of recent scandals such as Enron. They give six ways to create an ethical risk management environment (the six Cs): 1) Champions: find a spokesperson, someone to “champion” risk management; 2) Commitment: make a commitment for this to happen and actually take hold within the organization; 3) Consistency: maintain consistency throughout departments in the organization; 4) Correlations: pay attention to the ways in which a variety of issues impact risk management; 5) Communication: communicate between departments and with each other about the risks that are possible; and 6) Code of Ethics: have a code of ethics that can help the organization see some of the common (or not so common) concerns that members of the organization might have. The authors conclude by stating that there can only be ethical risk management if there is a desire to shift the ways in which the organization thinks about risk management, and that there must be a change in the way members of risk management communities view themselves as an organization and in the larger corporate community.

Citation: Ewing LJ, Lee RB. 2004. Surviving the age of risk: a call for ethical management. Risk Management Magazine 51(9), p. 56-58.
Topic(s): Risk
Ecosystem(s): None
Document Type: Book or Chapter or Journal Article
NRFSN number: 15903
Record updated: Nov 27, 2017