Most recent efforts to create guidance for modern risk management practices emphasize the importance of connecting risk management policy and practice with an organization ' s culture and values. However, identifying or establishing that connection is not widely discussed or understood. What does it mean to state that risk management is an expression of an organization ' s values? This article discusses the basis for identifying the connection between organizational values through the lens of the Ethical Organizational Culture and attempts to draw out linkages with current risk management thinking on the subject. The establishment of a basis of identifying organizational values and their link to risk management policy and practice is illustrated through a case analysis of the Veritas Institute ' s Self-Assessment and Improvement methodology. Risk Management (2013) 15, 32 -49.Keywords: modern risk management ; the ethical organizational culture ; risk management and culture ; risk management ; organizational values While all organizations manage risk to some degree, this International Standard establishes a number of principles that need to be satisfi ed to make risk management effective. This International Standard recommends that organizations develop, implement and continuously improve a framework whose purpose is to integrate the process for managing risk into the organization ' s overall governance, strategy and planning, management, reporting processes, policies, values and culture (ISO, ISO 31000, 2009). 33
This Conversation Starters article presents a selected research abstract from the 2016 Association of American Medical Colleges Western Region Group on Educational Affairs annual spring meeting. The abstract is paired with the integrative commentary of three experts who shared their thoughts stimulated by the needs assessment study. These thoughts explore how the general theoretical mechanisms of transition may be integrated with cognitive load theory in order to design interventions and environments that foster transition.
We address how the leaders of a Catholic business school can articulate and assess how well their schools implement the following six principles drawn from Catholic social teaching (CST): (1) Produce goods and services that are authentically good; (2) Foster solidarity with the poor by serving deprived and marginalized populations; (3) Advance the dignity of human work as a calling; (4) Exercise subsidiarity; (5) Promote responsible stewardship over resources; and (6) Acquire and allocate resources justly. We first discuss how the CST principles relate to the Good Goods, Good Work, and Good Wealth framework in The Vocation of the Business Leader (Pontifical Council for Justice and Peace, 2012), and then discuss their congruencies and tensions with the UNGC and UNPRME principles. Next, we describe the Catholic Identity Matrix (CIM), an assessment tool that provides a quantitative and qualitative portrait of how well a Catholic business school integrates, within the scope of its mission and capacities, the six CST principles in its strategies, policies, activities, and processes. The concluding section summarizes our analysis and discusses its implications for ongoing UNGC and UNPRME assessment, reporting, and development efforts.
In this paper we describe and explore a management tool called the Caux Round Table Self-Assessment and Improvement Process (SAIP). Based upon the Caux Round Table Principles for Business--a stakeholder-based, transcultural statement of business values--the SAIP assists executives with the task of shaping their firm's conscience through an organizational self-appraisal process. This process is modeled after the self-assessment methodology pioneered by the Malcolm Baldrige National Quality Award Program. After briefly describing the SAIP, we address three topics. First, we examine similarities and differences between the Baldrige approach to corporate self-assessment and the self-assessment process utilized within the SAIP. Second, we report initial findings from two beta tests of the tool. These illustrate both the SAIP's ability to help organizations strengthen their commitment to ethically responsible conduct, and some of the tool's limitations. Third, we briefly analyze various dimensions of the business scandals of 2001-2002 (Enron, WorldCom, Tyco, etc.) in light of the ethical requirements articulated with the SAIP. This analysis suggests that the SAIP can help link the current concerns of stakeholders--for example, investors and the general public--to organizational practice, by providing companies with a practical way to incorporate critical lessons from these unfortunate events.
Purpose-Business education should be seen as a form of professional education which assists the student to acquire the virtue of practical wisdom. This article seeks to discuss the issues. Design/methodology/approach-A middle level thinking (MLT) approach is taken to engage business education and practice that seeks to fashion explicit and vibrant ties between broad ethical principles and the concrete decisions, policies, and processes which shape how an organization operates. Findings-The financial crisis of 2008 and past business scandals are symptoms of a broader cultural crisis. Universities and their business schools have contributed to this cultural crisis by providing students with an overly compartmentalized and specialized form of education. Business education must be re-envisioned as professional education which prepares students to engage in a form of middle level thinking (MLT). For this kind of thinking to become sustainable within a university context, it must draw upon the university's own cultural mission; otherwise, it will be susceptible to the economic and specialized pressures which bear upon these institutions. Practical implications-The article describes a practical process called the self assessment and improvement process which helps to catalyze MLT. It also examines this method's application within the authors' own business school, which is situated within a Catholic university. Social implications-By fostering MLT, business schools will promote the development of professionals who have the capacity to connect broad moral principles to concrete moral judgments and actions, thereby leading to specific practices which enable organizations to better contribute to the common good. Originality/value-The article shows that acquisition of practical wisdom can be promoted within business schools through practical approaches which help to foster MLT.
The SAIP is an assessment method that helps organizations integrate moral values within their policies, practices, and culture. The method is modeled upon the assessment approach pioneered within the Baldrige Performance Excellence Program. SAIP‐based assessment tools translate a set of moral principles into an inventory of questions concerning a firm's management system. Answering these questions on the basis of evidence – for example, using documents that describe how the organization operates, as well as the outcomes it has attained – yields a qualitative and quantitative appraisal of the degree to which the principles have been embedded within the policies and processes that shape its work. The assessment results also support the formulation of initiatives designed to better align the organization's management system with these moral standards. Applied periodically, SAIP‐based assessment tools help firms establish a discipline of continuous learning and improvement on organizational ethics. By providing leaders with a practical way to shape their firm's moral character, the SAIP method helps executives address the growing public expectation that, all enterprises will conduct their affairs in an ethically responsible manner.
No abstract
Mayo Clinic is recognized as a worldwide leader in innovative, high-quality health care. However, the Catholic mission and ideals from which this organization was formed are not widely recognized or known. From partnership with the Sisters of St. Francis in 1883, through restructuring of the Sponsorship Agreement in 1986 and current advancements, this Catholic mission remains vital today at Saint Marys Hospital. This manuscript explores the evolution and growth of sponsorship at Mayo Clinic, defined as "a collaboration between the Sisters of St. Francis and Mayo Clinic to preserve and promote key values that the founding Franciscan sisters and Mayo physicians embrace as basic to their mission, and to assure the Catholic identity of Saint Marys Hospital." Historical context will be used to frame the evolution and preservation of Catholic identity at Saint Marys Hospital; and the shift from a "sponsorship-by-governance" to a "sponsorship-by-influence" model will be highlighted. Lastly, using the externally-developed Catholic Identity Matrix (developed by Ascension Health and the University of St. Thomas, Minnesota), specific examples of Catholic identity will be explored in this joint venture of Catholic health care institution and a secular, nonprofit corporation (Mayo Clinic).
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.