¶ … crisis, risk, and security all play a role and are linked within an organizational context. It is also important to examine the role gaming and simulation play within this phenomena. In the past, risk was established as an idea that generated academic interest not just in social sciences but in pure sciences. It also has become subject to overzealous social and political controversy. Risk management has then become the main source of debate as well as theory development (Borodzicz, 2005) As risk can appear within anything from public safety, to transportation, and health, businesses must learn an effective way to manage it. Security management however, has less developed theories and debates but still plays a vital role is lessening risk and increase proper risk management. It is then crucial to understand how both play roles in the stability and safety of any organization.
In John Adam's Risk at the beginning of Chapter 1, he discusses the development of a person's expertise as it concerns coping with the unknown. "The development of our expertise in coping with uncertainty begins in infancy. The trial and error processes by which we first learn to crawl, and then walk and talk, involve decision-making in the face of uncertainty" (Adams, 1995). The origins of calculating and preventing risk thus starts in a person's earliest stages of life. It here Adams notes, one learns to assess and predict. Through this beginning stage, one can derive the seeds to start understanding what it takes to lessen risk and most importantly, manage it.
He also suggests on the same page, there is a sort of balancing act that happens during childhood that is carried on into adulthood. "In our development to maturity we progressively refine our risk-taking skills; we learn how to handle sharp things and hot things, how to ride a bicycle and cross the street, how to comminicate our needs and wants, how to read the mood of others" (Adams, 1995). As this refinement continues so it can run parallel to a business/organization. Within its formative stage, a business has just begun understanding risk and so forth. As the company grows and the employees within it gain experience, so does the efficacy of risk management rise. It is then more likely such risk management becomes more possible in implementation then initially.
Because risk management is then so imperative in maintaining the continuity of a business, it is important to understand how to perform such actions. In a book by Labib, the writer discusses bad management in India and the perils of forgoing a risk management strategy. "the Indian Government, although keen to attract foreign investment, needed to factor in basic safety requirements for its citizens. During future MNC projects, designs of installations need to be peer reviewed and more stringent environmental, health, and safety measures adopted" (Labib, 2014, p. 60). Not only did the company lack in basic safety requirements, increasing risk greatly, it also failed to assess any additional safety measures. Needless to say the business experienced several issues due to its negligence.
Another thing that was mission was segregation of dangerous processes. "Governements also need to be aware of the requirement for segregation of hazardous operations from other industrial facilities and from adjacent populations" (Labib, 2014, p. 60). This means any accidents that might occur are adjacent to other facilities posing a risk to more workers then if they were in separate locations. Errors like these become costly in the event of an accident.
Lack of training in respect to security managers also increase risk. "This also requires security managers to demonstrate generic business skills, engage in their lexicon and be able to exert influence on other members of management and the board. This also means that security specialists should be represented on the board and in some organizations..." (Button, 2008, 207). These risks, coupled with low amount of safety overall means danger not just for the business but also its employees. Essentially this company based in India, failed to do anything to minimize risk. Instead they've increased risk that could lead to major problems. These problems could include employee deaths, even lawsuits.
In order to circumvent such dangers an approach must be adopted. Such approach is business continuity management or BCM. "...business continuity management (BCM) has emerged in many industries as a systematic process to counter the effects of crises and interruptions, although its potential to play a more strategic role is still largely under-explored" (Herbane, Elliott & Swartz, 2004, p. 435). BCM plays a significant role or can play a significant role in gaining or preserving a competitive edge/advantage. Some of the essential components of BCM is operational continuity...
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