Sustainable risk management practice in the organization a Malaysian case study

Siti Afiqah Zainuddin and Borhan Abdullah and Noorul Azwin Md Nasir and Tahirah Abdullah (2022) Sustainable risk management practice in the organization a Malaysian case study. Vol.:(0112 33456789) Environmental Science and Pollution Research, 30.

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Abstract

Businesses are becoming more conscious of operational risk management practices due to the COVID-19 pandemic. However, some firms practice risk management without fully comprehending how it might help them and their needs. As a result, companies that practice risk management without realizing it are being controlled by the discipline itself. The goal of this study is to look into the epistemic process of risk management practice in the workplace. This phenomenological study interviewed 39 risk management officers, executives, and employees. Data are thematically analyzed. This study discovered five epistemic processes of risk mapping using Foucault’s governmentality paradigm. This phenomenological study, interestingly, revealed the black box of risk management practices, as well as the behavior of risk management officers, executives, and risk owners who preferred to monitor the compliance aspects of risk management practices rather than comprehend the capabilities of risk management that could be used within their strategic planning process. Unaware of this black box, organizational actors were blanketed by the organization’s culture of fear, which created the impression that the authority was always watching every word said and every action taken. Practically, this study contributes an improved understanding of the real function of risk management that helps them justify the practice and reduce unnecessary fear. The paper concludes with limitations and research recommendations.

Item Type:	Article
Keyword:	Sustainable practices, Extended case study, Governmentality, Operational risk management, Phenomenology
Subjects:	H Social Sciences > HF Commerce > HF1-6182 Commerce > HF5001-6182 Business
Depositing User:	DG MASNIAH AHMAD -
Date Deposited:	18 Sep 2023 11:24
Last Modified:	18 Sep 2023 11:24
URI:	https://eprints.ums.edu.my/id/eprint/36815

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