Organizational Risk Mitigation and Performance

Nickson Herbert Odongo(1), Daoping Wang(2),


(1) Dongling School of Economics and Management, University of Science and Technology, Beijing, China
(2) Dongling School of Economics and Management, University of Science and Technology, Beijing, China

Abstract

This study strives to consolidate various risk management approaches to conceptualize a comprehensive perspective of the organization risk levels and potential impact on performance. A national carrier Kenya Airways is sampled to aid as a case study by applying organizational risk management and hierarchical holographic modelling to investigate and assess the risks and business recovery planning to handle the risks and crisis in future. This study illustrates how organizations need to adopt various risk management principles to realize a holistic perspective of the organizational risk levels. Risk management aid organizations in becoming more efficient and effective by enhancing planning, crucial decision thinking and ensuring better-informed decision-making. This approach will help visualize the risk mitigation preparedness and enhance performance at personal, group and organizational stages. The visualization of critical risk management approaches illustrates real creativeness. The study recognizes that these methods have a favourable impact on performance. Not all the risk management approaches have been exhausted in this study. More avenues are open for extensive exploration of the same.

Keywords

business recovery planning; hierarchical holographic modelling; organizational performance; risk mitigation

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DOI: https://doi.org/10.33455/ijcmr.v1i2.108

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