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Top Careers as a Means of Risk Management in Organisations

In: Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century

Author

Listed:
  • Daniel Wylegala

    (Heinrich Heine University Düsseldorf)

Abstract

Decision-making reproduces organisations and produces risks, and risks inevitably have to be managed. The most far-reaching and risky decisions are the responsibility of an organisation’s higher hierarchical levels. Starting from this premise based on Niklas Luhmann’s Systems Theory, the chapter presents a model that focuses on the function of top careers in organisations and provides a means by which decision-making and risk management can be examined. A top career is both a process of selection and a process of socialisation. During its course, individuals are selected who have proved their ability to make decisions and to handle risks. Therefore, a top career is a mechanism that serves organisational interests by reducing the risks related to decisions, thus increasing the probability of reproducing the organisation.

Suggested Citation

  • Daniel Wylegala, 2017. "Top Careers as a Means of Risk Management in Organisations," Palgrave Studies in the History of Finance, in: Korinna Schönhärl (ed.), Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century, pages 57-79, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-319-42076-9_3
    DOI: 10.1007/978-3-319-42076-9_3
    as

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