2nd July 2002

Strategies of Risk Management Organisations

There are now a growing number of professional bodies whose raison d'etre is either wholly or significantly in the broad area of risk management. In Europe, the Institution of Occupational Safety & Health (IOSH), with some 25,000 members, is arguably the largest. However, strategies that may be appropriate for growth in membership numbers may not be appropriate for long-term survival and success. Identifying and responding appropriately to changes in context may be critical factors for any risk management organisation. In a recent case study* published in Risk Management: an International Journal, Dr Waring examines the following:

• Identity, image and status of the profession and the institution
  
• Membership criteria including competencies and academic standards
  
• Corporate governance
  
• Theoretical underpinning to the subject
  
• Risk cognition, risk acceptance and risk acceptability
  
• Global and international issues
  
• Response to predicted and actual changes in context.

The paper concludes that if such bodies are to survive, 'they need to develop a strategy consistent with their desired position and role in the dynamics of the risk management world. Isolated specialisation, however competent, is not a recipe for the long-term survival and success of large numbers of individuals, as evidenced by such once splendid but now virtually defunct professions as farrying, tripe dressing and lamp-lighting'.

*Waring A E (2002), Strategies of Risk Management Organisations: a Case Review, Risk Management: an International Journal, Vol 4 No 3, 23-41.

Under changes introduced at the beginning of 2002 by the Editors Professors Dominic Elliott, Alan Irwin and Denis Smith, RM:IJ now has an Editorial Board of some 26 leading risk academics from around the world. For copies and further information about the journal, contact info@perpetuitypress.co.uk. The Perpetuity web site is www.perpetuitypress.com.

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