IDEAS home Printed from https://ideas.repec.org/a/vrs/joinma/v12y2020i1p12-35n3.html
   My bibliography  Save this article

Understanding Uncertainty and Risk in Management

Author

Listed:
  • Jedynak Piotr

    (Jagiellonian University, Cracow, Poland)

  • Bąk Sylwia

    (Jagiellonian University, Cracow, Poland)

Abstract

Objective: The purpose of this text is to identify approaches to defining and subsequently reviewing the definitions of uncertainty and risk as interdisciplinary terms which are of key importance in modern management.

Suggested Citation

  • Jedynak Piotr & Bąk Sylwia, 2020. "Understanding Uncertainty and Risk in Management," Journal of Intercultural Management, Sciendo, vol. 12(1), pages 12-35, March.
    • Handle: RePEc:vrs:joinma:v:12:y:2020:i:1:p:12-35:n:3
    DOI: 10.2478/joim-2020-0030
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/joim-2020-0030
    Download Restriction: no
    File URL: https://libkey.io/10.2478/joim-2020-0030?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. W. R. Knechel, 2002. "The Role of the Independent Accountant in Effective Risk Management," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business (FEB), Review of Business and Economic Literature, vol. 0(1), pages 65-86.
    2. Roger E. Kasperson & Ortwin Renn & Paul Slovic & Halina S. Brown & Jacque Emel & Robert Goble & Jeanne X. Kasperson & Samuel Ratick, 1988. "The Social Amplification of Risk: A Conceptual Framework," Risk Analysis, John Wiley & Sons, vol. 8(2), pages 177-187, June.
    3. Smithson, Michael, 1999. "Conflict Aversion: Preference for Ambiguity vs Conflict in Sources and Evidence," Organizational Behavior and Human Decision Processes, Elsevier, vol. 79(3), pages 179-198, September.
    4. Vasvári, Tamás, 2015. "Risk, Risk Perception, Risk Management – a Review of the Literature," Public Finance Quarterly, Corvinus University of Budapest, vol. 60(1), pages 29-48.
    5. Terje Aven & Ortwin Renn, 2009. "On risk defined as an event where the outcome is uncertain," Journal of Risk Research, Taylor & Francis Journals, vol. 12(1), pages 1-11, January.
    6. Eugene A. Rosa, 1998. "Metatheoretical foundations for post-normal risk," Journal of Risk Research, Taylor & Francis Journals, vol. 1(1), pages 15-44, January.
    7. Mittal, Vikas & Ross, William T., 1998. "The Impact of Positive and Negative Affect and Issue Framing on Issue Interpretation and Risk Taking," Organizational Behavior and Human Decision Processes, Elsevier, vol. 76(3), pages 298-324, December.
    8. Aven, Terje, 2012. "The risk concept—historical and recent development trends," Reliability Engineering and System Safety, Elsevier, vol. 99(C), pages 33-44.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aven, Terje, 2013. "Practical implications of the new risk perspectives," Reliability Engineering and System Safety, Elsevier, vol. 115(C), pages 136-145.
    2. Goerlandt, Floris & Montewka, Jakub, 2015. "Maritime transportation risk analysis: Review and analysis in light of some foundational issues," Reliability Engineering and System Safety, Elsevier, vol. 138(C), pages 115-134.
    3. Veland, H. & Aven, T., 2013. "Risk communication in the light of different risk perspectives," Reliability Engineering and System Safety, Elsevier, vol. 110(C), pages 34-40.
    4. Aven, Terje, 2012. "On the link between risk and exposure," Reliability Engineering and System Safety, Elsevier, vol. 106(C), pages 191-199.
    5. Aven, Terje, 2013. "A conceptual framework for linking risk and the elements of the data–information–knowledge–wisdom (DIKW) hierarchy," Reliability Engineering and System Safety, Elsevier, vol. 111(C), pages 30-36.
    6. Nguyen, Son & Chen, Peggy Shu-Ling & Du, Yuquan & Shi, Wenming, 2019. "A quantitative risk analysis model with integrated deliberative Delphi platform for container shipping operational risks," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 129(C), pages 203-227.
    7. Peng Hou & Xiaojian Yi & Haiping Dong, 2020. "A Spatial Statistic Based Risk Assessment Approach to Prioritize the Pipeline Inspection of the Pipeline Network," Energies, MDPI, vol. 13(3), pages 1-16, February.
    8. Junxia Miao & Dechun Huang & Zhengqi He, 2019. "Social Risk Assessment and Management for Major Construction Projects in China Based on Fuzzy Integrated Analysis," Complexity, Hindawi, vol. 2019, pages 1-17, November.
    9. Aven, Terje, 2020. "Three influential risk foundation papers from the 80s and 90s: Are they still state-of-the-art?," Reliability Engineering and System Safety, Elsevier, vol. 193(C).
    10. Aven, Terje, 2018. "How the integration of System 1-System 2 thinking and recent risk perspectives can improve risk assessment and management," Reliability Engineering and System Safety, Elsevier, vol. 180(C), pages 237-244.
    11. Aven, Terje & Krohn, Bodil S., 2014. "A new perspective on how to understand, assess and manage risk and the unforeseen," Reliability Engineering and System Safety, Elsevier, vol. 121(C), pages 1-10.
    12. Aven, Terje, 2011. "On the new ISO guide on risk management terminology," Reliability Engineering and System Safety, Elsevier, vol. 96(7), pages 719-726.
    13. Takashi Kusumi & Rumi Hirayama & Yoshihisa Kashima, 2017. "Risk Perception and Risk Talk: The Case of the Fukushima Daiichi Nuclear Radiation Risk," Risk Analysis, John Wiley & Sons, vol. 37(12), pages 2305-2320, December.
    14. Bice, Sara & Brueckner, Martin & Pforr, Christof, 2017. "Putting social license to operate on the map: A social, actuarial and political risk and licensing model (SAP Model)," Resources Policy, Elsevier, vol. 53(C), pages 46-55.
    15. Mostafa Aliyari & Yonas Z Ayele & Abbas Barabadi & Enrique Lopez Droguett, 2019. "Risk analysis in low-voltage distribution systems," Journal of Risk and Reliability, , vol. 233(2), pages 118-138, April.
    16. Lindbom, Hanna & Tehler, Henrik & Eriksson, Kerstin & Aven, Terje, 2015. "The capability concept – On how to define and describe capability in relation to risk, vulnerability and resilience," Reliability Engineering and System Safety, Elsevier, vol. 135(C), pages 45-54.
    17. Jamie K. Wardman & Gabe Mythen, 2016. "Risk communication: against the Gods or against all odds? Problems and prospects of accounting for Black Swans," Journal of Risk Research, Taylor & Francis Journals, vol. 19(10), pages 1220-1230, November.
    18. Zygimantas Meskauskas & Egidijus Kazanavicius, 2022. "About the New Methodology and XAI-Based Software Toolkit for Risk Assessment," Sustainability, MDPI, vol. 14(9), pages 1-15, May.
    19. Jacob Taarup‐Esbensen, 2019. "Making Sense of Risk—A Sociological Perspective on the Management of Risk," Risk Analysis, John Wiley & Sons, vol. 39(4), pages 749-760, April.
    20. Floris Goerlandt & Jie Li & Genserik Reniers, 2020. "The Landscape of Risk Communication Research: A Scientometric Analysis," IJERPH, MDPI, vol. 17(9), pages 1-31, May.

    More about this item

    Keywords

    uncertainty; risk; management; risk management;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:joinma:v:12:y:2020:i:1:p:12-35:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.