Risk

A Holistic Business Perspective
  • A. G. Hessami
Conference paper

Abstract

The rapid pace of technological advancement and the emerging complexity around us renders past experience a poor and sometimes inadequate guide in the competitive and dynamic business environment of today. The globalisation of the capital, ease of fund transfer beyond normal controls of the sovereign states and removal of the protectionist barriers to trade leaves little latitude for complacency and survival of the poorly equipped and managed enterprises. Added to these are pressures from an increasingly aware and well informed stake-holders demanding quality, performance and freedom from harm for lower costs. A burgeoning body of statutory requirements mainly focused on the safety2,3,5–9 and increasingly the environmental dimension23–25 further impose duties upon employers and enterprises with respect to those exposed to the risks arising from their operations. The confluence of these factors renders the business enterprise vulnerable to significant losses and even extinction. More elaborate decision support tools and strategies are required in order to address the diversity of demands and increase the likelihood of success in the face of adversity.

Keywords

Abate Toll Culmination HAZOP 

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Copyright information

© Springer-Verlag London Limited 1998

Authors and Affiliations

  • A. G. Hessami
    • 1
  1. 1.EE&CS, Railtrack PLCUK

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