ACCA SBL Syllabus D. Risk - Embedded Risk - Notes ^{4 / 9}

It is important to embed awareness at all levels to reduce the costs of risk

In practical terms, embedding means introducing a taken-for-grantedness of risk awareness into the culture of an organisation

Culture, defined in Handy’s terms as ‘the way we do things round here’ underpins all risk management activity as it defines attitudes, actions and beliefs.

How?

• Introduce risk controls into the process of work and the environment in which it takes place. 

  So that people assume such measures to be non-negotiable components of their work experience.

• Risk management becomes unquestioned, taken for granted, built into the corporate mission and culture and may be used as part of the reward system.