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This paper presents a framework consisting of seven logically linked considerations yielding nine strategies for managing risky situations. The framework provides a comprehensive method any entity can use to determine its strategy for managing a risky situation. The framework goes beyond the issue of calculating risk to asking how it might be managed The framework is applied in an example involving a human resources manager making a series of three related choices. It is also applied to the choices of strategies for a chief financial officer facing currency rate fluctuations and excessive taxes on profit.
The International Journal of Organizational Analysis – Emerald Publishing
Published: Jan 1, 1998
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