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Social and Behavioral Sciences Commons™
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University of Nevada, Las Vegas
Public Policy and Leadership Faculty Publications
Financial institutions – Law and legislation; Recessions; Risk management; Strategic planning; Trade regulation
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Full-Text Articles in Social and Behavioral Sciences
Strategic Management Of Three Critical Levels Of Risk, Christine G. Springer
Strategic Management Of Three Critical Levels Of Risk, Christine G. Springer
Public Policy and Leadership Faculty Publications
The financial crisis that erupted in 2007 revealed a major gap in the management systems of government and business. For the most part, governments focused on revenue growth, productivity, cost control and quality. There were many interrelated factors involved with the failures but two in particular stand out in my mind: a failure to explicitly account for risk when formulating organizational strategies and a failure to monitor and manage the risks that they had identified and assumed. Organizations face many different types of risk but often they can be categorized into three types based upon their predictability, controllability and management. …