MANAGING RISK IN THE TELECOMMS INDUSTRY

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In today's highly uncertain, turbulent world, traditional risk management methods are inadequate when managing operational risk within the Telecomms industry. In this book we attempt to bring theory and practice together in meeting the contemporary challenge of managing risk in dynamic, turbulent and highly uncertain environments. Through a multi- method research strategy involving interviews with leading telecomms risk consultants and surveys of risk professionals from 100 telecomms organizations spread over 40 countries worldwide, this empirical study investigates the determinants of risk method, addressing risk management as a part of corporate governance and new participatory risk theory. Real world risk decision-making is described and evaluated against decision frameworks and the quality of risk decision-making found lacking through poor judgement. We conclude that risk method must adopt a more subjective, constructionist perspective in the present telecomms environment and controls must support multiple needs of flexibility, empowerment, creativity, and timely responsive corrective action.