Skip to main content Accessibility help
×
Hostname: page-component-76fb5796d-zzh7m Total loading time: 0 Render date: 2024-04-26T19:21:10.976Z Has data issue: false hasContentIssue false

Part I - Risk Culture Conceptual Underpinnings

Published online by Cambridge University Press:  22 May 2020

Michelle Tuveson
Affiliation:
Judge Business School, Cambridge
Daniel Ralph
Affiliation:
Judge Business School, Cambridge
Kern Alexander
Affiliation:
Universität Zürich
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Beyond Bad Apples
Risk Culture in Business
, pp. 19 - 138
Publisher: Cambridge University Press
Print publication year: 2020

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

References

Aten, K., Howard-Grenville, J. and Ventresca, M. (2012). Organizational culture and institutional theory: a conversation at the border. Journal of Management Inquiry, 21(1), 7883. http://dx.doi.org/10.1177/1056492611419790Google Scholar
Bailey, J. (2008). Southwest. Way Southwest. New York Times, 13 February 2008. https://nyti.ms/2ooketuGoogle Scholar
Barley, S. R. (1983). Semiotics and the study of occupational and organizational cultures. Administrative Science Quarterly, 28(3), 393413.Google Scholar
Bertels, S., Howard-Grenville, J. and Pek, S. (2016). Cultural molding, shielding, and shoring at Oilco: the role of culture in the integration of routines. Organization Science, 27(3), 573–93.Google Scholar
Canato, A., Ravasi, D. and Phillips, N. (2013). Coerced practice implementation in cases of low cultural fit: cultural change and practice adaptation during the implementation of Six Sigma at 3M. Academy of Management Journal, 56(6), 1724–53.Google Scholar
Cha, S. E. and Edmondson, A. C. (2006). When values backfire: leadership, attribution, and disenchantment in a values-driven organization. The Leadership Quarterly, 17(1), 5778.Google Scholar
Chatman, J. A. and Cha, S. E. (2003). Leading by leveraging culture. California Management Review, 45(4), 2034.Google Scholar
Giorgi, S., Lockwood, C. and Glynn, M. A. (2015). The many faces of culture: making sense of 30 years of research on culture in organization science. Academy of Management Annals, 9(1), 154. http://dx.doi.org/10.1080/19416520.2015.1007645Google Scholar
Harrison, S. H. and Corley, K. G. (2011). Clean climbing, carabiners, and cultural cultivation: developing an open-systems perspective of culture. Organization Science, 22(2), 391412.Google Scholar
Howard-Grenville, J. (2006). Inside the ‘black box’: how organizational culture and subcultures inform interpretations and actions on environmental issues. Organization & Environment, 19(1), 4673.CrossRefGoogle Scholar
Howard-Grenville, J. (2007). Corporate Culture and Environmental Practice: Making Change at a High-Technology Manufacturer. Cheltenham, UK: Edward Elgar.Google Scholar
Howard-Grenville, J. and Bertels, S. (2012). Organizational culture and environmental action. In Bansal, P. and Hoffman, A. J., eds., Oxford Handbook of Business and the Natural Environment. Oxford: Oxford University Press, pp. 194210.Google Scholar
Howard-Grenville, J., Golden-Biddle, K., Irwin, J. and Mao, J. (2011). Liminality as a cultural process for cultural change. Organization Science, 22(2), 522–39.Google Scholar
International Nuclear Safety Advisory Group (1991). Safety Culture, 75-INSAG-4, Vienna: International Atomic Energy Agency.Google Scholar
Jaskyte, K. (2004). Transformational leadership, organizational culture, and innovativeness in nonprofit organizations. Nonprofit Management and Leadership, 15(2), 153–68.Google Scholar
Kellogg, K. C. (2011). Hot lights and cold steel: cultural and political toolkits for practice change in surgery. Organization Science, 22(2), 482502.Google Scholar
Kunda, G. (1992). Engineering Culture: Control and Commitment in a High-Tech Corporation. Philadelphia: Temple University Press.Google Scholar
Martin, J. (2002). Organizational Culture: Mapping the Terrain. Thousand Oaks, CA: Sage.CrossRefGoogle Scholar
Martin, J., Feldman, M. S., Hatch, M. J. and Sitkin, S. B. (1983). The uniqueness paradox in organizational stories. Administrative Science Quarterly, 28(3), 438–53.Google Scholar
Meyerson, D. and Martin, J. (1987). Cultural change: an integration of three different views. Journal of Management Studies, 24(6), 623–47.Google Scholar
Ouchi, W. G. and Wilkins, A. L. (1985). Organizational culture. Annual Review of Sociology, 11, 457–83.Google Scholar
Peters, T. J. and Waterman, R. H. Jr. (1982). How the best-run companies turn so-so performance into big winners. Management Review, 71(11), 816.Google Scholar
Reason, J. T. (1997). Managing the Risks of Organizational Accidents. Vol. 6. Aldershot, UK: Ashgate.Google Scholar
Schein, E. H. (1985). Organizational Culture and Leadership. San Francisco: Jossey-Bass.Google Scholar
Schein, E. H. (1992). Corporate culture and performance. Sloan Management Review, 33(3), 91–2.Google Scholar
Schein, E. H. (2010). Organizational Culture and Leadership. Vol. 2. Hoboken, NJ: John Wiley & Sons.Google Scholar
Schleckser, J. (2018). Why Southwest has been profitable 45 years in a row. Inc., 28 August 2018. https://bit.ly/2JtHNZmGoogle Scholar
Smircich, L. (1983). Concepts of culture and organizational analysis. Administrative Science Quarterly, 28(3), 339–58.CrossRefGoogle Scholar
Swidler, A. (1986). Culture in action: symbols and strategies. American Sociological Review, 51(2), 273–86.Google Scholar
Swidler, A. (2001). Talk of Love: How Culture Matters. Chicago: University of Chicago.Google Scholar
Van Maanen, J. (1979). The fact of fiction in organizational ethnography. Administrative Science Quarterly, 24(4), 539–50.Google Scholar
Vogus, T. J., Sutcliffe, K. M. and Weick, K. E. (2010). Doing no harm: enabling, enacting, and elaborating a culture of safety in health care. Academy of Management Perspectives, 24(4), 6077.Google Scholar
Weber, K. and Dacin, M. T. (2011). The cultural construction of organizational life: introduction to the special issue. Organization Science, 22(2), 287–98.Google Scholar
Weeks, J. (2004). Unpopular Culture: The Ritual of Complaint in a British Bank. Chicago: University of Chicago Press.Google Scholar

References

Atkins, D., Fitzsimmons, A., Parsons, C. and Punter, A. (2012). Roads to Ruin: A Study of Major Risk Events: Their Origins, Impact and Implications. London: AIRMIC.Google Scholar
Bartlett, C. A. and Ghoshal, S. (1994). Changing the role of top management: beyond strategy to purpose. Harvard Business Review, 72(6), 7988.Google Scholar
Beasley, M., Branson, B. and Hancock, B. (2010). Developing Key Risk Indicators to Strengthen Enterprise Risk Management. New York: Committee of Sponsoring Organizations of the Treadway Commission.Google Scholar
Besharov, M. L. and Khurana, R. (2015). Leading amidst competing technical and institutional demands: revisiting Selznick’s conception of leadership. In Kraatz, M., ed., Institutions and Ideals: Philip Selznick’s Legacy for Organizational Studies. Emerald Group Publishing Limited, pp. 5388.Google Scholar
Boddy, C. R. (2017). Psychopathic leadership: a case study of a corporate psychopath CEO. Journal of Business Ethics, 145(1), 141–56.Google Scholar
Boholm, Å. and Corvellec, H. (2011). A relational theory of risk. Journal of Risk Research, 14, 175–90.Google Scholar
Bower, M. (2003). Company philosophy: ‘the way we do things around here’. McKinsey Quarterly, no. 2, 110–17.Google Scholar
Clarke, L. and Short, J. (1993). Social organization and risk: some current controversies. Annual Review of Sociology, 19(1), 375–99.Google Scholar
Coffee, J. (2006). Gatekeepers: The Professions and Corporate Governance. Oxford: Oxford University Press.Google Scholar
COSO (Committee of Sponsoring Organizations of the Treadway Commission) (2004). Enterprise Risk Management – Integrated Framework: Application Techniques. New York: COSO. https://bit.ly/2p9C2JrGoogle Scholar
Davies, W. (2018). Sabotaging progress: the cultural economy of resentment in late neoliberalism. In Andersson, J. and Godechot, O., eds., Destabilizing Orders – Understanding the Consequences of Neoliberalism. Proceedings of the MaxPo Fifth-Anniversary Conference, Paris, January 12–13, 2018. Paris: Max Planck Sciences Po Center on Coping with Instability in Market Societies, pp. 912.Google Scholar
Davies, W. and McGoey, L. (2012). Rationalities of ignorance: on financial crisis and the ambivalence of neo-liberal epistemology. Economy and Society, 41(1), 6483.Google Scholar
Douglas, M. and Wildavsky, A. (1983). Risk and Culture. Berkeley: University of California Press.Google Scholar
Douglas, M. (2013). Essays on the Sociology of Perception. London: Routledge.Google Scholar
Edmonds, T. (2014). LIBOR, Public Inquiries & FCA Disciplinary Powers. House of Commons Library Briefing Paper No. 6376.Google Scholar
Enfield, N. J. (2017). Distribution of agency. In Enfield, N. J. and Kockelman, P., eds., Distributed Agency. Oxford: Oxford University Press, pp. 914.Google Scholar
Etienne, J. (2013). Ambiguity and relational signals in regulator–regulatee relationships. Regulation & Governance, 7(1), 3047.Google Scholar
Etienne, J. (2014). The politics of detection in business regulation. Journal of Public Administration Research and Theory, 25(1), 257–84.Google Scholar
Gephart, R. P. Jr., Van Maanen, J. and Oberlechner, T. (2009). Organizations and risk in late modernity. Organization Studies, 30(2–3), 141–55.Google Scholar
Greve, H. R., Palmer, D. and Pozner, J. E. (2010). Organizations gone wild: the causes, processes, and consequences of organizational misconduct. The Academy of Management Annals, 4(1), 53107.Google Scholar
Hall, M. and Fernando, R. (2016). Beyond the headlines: day-to-day practices of risk measurement and management in a non-governmental organization. In Power, M., ed., Riskwork: Essays on the Organizational Life of Risk Management. Oxford: Oxford University Press, pp. 7290.Google Scholar
Hall, M., Mikes, A. and Millo, Y. (2013). How experts gain influence. Harvard Business Review, 91(7), 70–4.Google Scholar
Hall, M., Mikes, A. and Millo, Y. (2015). How do risk managers become influential? A field study of toolmaking in two financial institutions. Management Accounting Research, 26, 322.Google Scholar
Hilgartner, S. (1992). The social construction of risk objects: or, how to pry open networks of risk. In Short, J. F. and Clarke, L., eds., Organizations, Uncertainties and Risk. Boulder, CO: Westview Press, pp. 3953.Google Scholar
Janis, I. L. (1982). Groupthink: Psychological Studies of Policy Decisions and Fiascoes. Boston: Houghton Mifflin.Google Scholar
Jordan, S., Jørgensen, L. and Mitterhofer, H. (2013). Performing risk and the project: risk maps as mediating instruments. Management Accounting Research, 24(2), 156–74.Google Scholar
Jørgensen, L. and Jordan, S. (2016). Day-to-day riskwork in inter-organizational project management. In Power, M., ed., Riskwork: Essays on the Organizational Life of Risk Management. Oxford: Oxford University Press, pp. 5071.Google Scholar
Kekes, J. (1984). ‘Ought implies can’ and two kinds of morality. The Philosophical Quarterly, 34(137), 459–67.Google Scholar
Kirkbride, J. and Letza, S. (2005). Can the non‐executive director be an effective gatekeeper? The possible development of a legal framework of accountability. Corporate Governance: An International Review, 13(4), 542–50.Google Scholar
Luburić, R. (2017). Strengthening the three lines of defence in terms of more efficient operational risk management in central banks. Journal of Central Banking Theory and Practice, 6(1), 2953.Google Scholar
Maguire, S. and Hardy, C. (2013). Organizing processes and the construction of risk: a discursive approach. Academy of Management Journal, 56(1), 231–55.Google Scholar
March, J. G. and Shapira, Z. (1987). Managerial perspectives on risk and risk taking. Management Science, 33(11), 1404–18.Google Scholar
Mayer, C. (2018). Prosperity: Better Business makes the Greater Good. Oxford: Oxford University Press.Google Scholar
McConnell, P. (2013). Systemic operational risk: the LIBOR manipulation scandal. Journal of Operational Risk, 8(3), 5999.Google Scholar
McGoey, L. (2012). Strategic unknowns: towards a sociology of ignorance. Economy and Society, 41(1), 116.Google Scholar
Meyer, J. W. and Rowan, B. (1977). Institutionalized organizations: formal structure as myth and ceremony. American Journal of Sociology, 83(2), 340–63.Google Scholar
Mikes, A. (2009). Risk management and calculative cultures. Management Accounting Research, 20(1), 1840.Google Scholar
Mikes, A. (2016). The triumph of the humble risk officer. In Power, M., ed., Riskwork: Essays on the Organizational Life of Risk Management. Oxford: Oxford University Press, pp. 253–73.Google Scholar
Miller, P., Kurunmaki, L. and O’Leary, T. (2008). Accounting, hybrids and the management of risk. Accounting, Organizations and Society, 33(7–8), 942–67.Google Scholar
Miller, P. and O’Leary, E. T. (2000). Value Reporting and the Information Ecosystem. London: PricewaterhouseCoopers.Google Scholar
Ocasio, W. (2005). The opacity of risk: language and the culture of safety in NASA’s space shuttle program. In Starbuck, W. and Farjoun, M., eds., Organization at the Limit: Lessons from the Columbia Disaster. Oxford: Blackwell, pp. 110–21.Google Scholar
Palermo, T. (2016). Technoculture: risk reporting and analysis at a large airline. In Power, M., ed., Riskwork: Essays on the Organizational Life of Risk Management. Oxford: Oxford University Press, pp. 150–71.Google Scholar
Perrow, C. (1984). Normal Accidents: Living with High Risk Technologies. New York: Basic Books.Google Scholar
Power, M. (1997). The Audit Society. Oxford: Oxford University Press.Google Scholar
Power, M. (2004). The Risk Management of Everything. London: Demos.Google Scholar
Power, M. (2007). Organized Uncertainty: Designing a World of Risk Management. Oxford: Oxford University Press.Google Scholar
Power, M. (2014). Risk, social theories and organizations. In Adler, P., du Gay, P., Morgan, G. and Reed, M., eds., The Oxford Handbook of Sociology, Social Theory and Organization Studies: Contemporary Currents. Oxford: Oxford University Press, pp. 370–92.Google Scholar
Power, M., Palermo, T. and Ashby, S. (2013). Risk Culture in Financial Organizations: A Research Report. London: Centre for Analysis of Risk and Regulation, London School of Economics.Google Scholar
PRA and FCA (Prudential Regulation Authority and Financial Conduct Authority) (2015). The Failure of HBOS plc (HBOS): A Report by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). London: Bank of England.Google Scholar
Selznick, P. (1957). Leadership in Administration: A Sociological Interpretation. New York: NY: Harper & Row.Google Scholar
Short, J. (1984). The social fabric of risk: toward the social transformation of risk analysis. American Sociological Review, 49(6), 711–25.Google Scholar
Short, J. and Clarke, L., eds. (1992). Organizations, Uncertainties and Risks. Boulder, CO: Westview Press.Google Scholar
Steck, H. (2003). Corporatization of the university: seeking conceptual clarity. The Annals of the American Academy of Political and Social Science, 585, 6683.Google Scholar
Turner, B. (1976). The organizational and interorganizational development of disasters. Administrative Science Quarterly, 21(3), 378–97.Google Scholar
Turner, B. and Pidgeon, N. (1997). Man-Made Disasters, 2nd ed. London: Butterworth–Heinemann.Google Scholar
Vaughan, D. (1996). The Challenger Launch Decision. Chicago: University of Chicago Press.Google Scholar
Vaughan, D. (2005). Organizational rituals of risk and error. In Hutter, B. and Power, M., eds., Organizational Encounters with Risk. Cambridge: Cambridge University Press, pp. 3366.Google Scholar
Walker, D. (2009). A Review of Corporate Governance in UK Banks and Other Financial Industry Entities. London: HM Treasury.Google Scholar
Weick, K. E. (1993). The collapse of sensemaking in organizations: the Mann Gulch disaster. Administrative Science Quarterly, 38(4), 628–52.Google Scholar
Zhivitskaya, M. (2015). The practice of risk oversight since the global financial crisis: closing the stable door? Unpublished PhD thesis, University of London.Google Scholar
Zhivitskaya, M. and Power, M. (2016). The work of risk oversight. In Power, M., ed., Riskwork: Essays on the Organizational Life of Risk Management. Oxford: Oxford University Press, pp. 91109.Google Scholar

References

Acemoglu, D., Bimpikis, K. and Ozdaglar, A. (2014). Dynamics of information exchange in endogenous social networks. Theoretical Economics, 9(1), 4197.Google Scholar
Alonso, R., Dessein, W. and Matouschek, N. (2008). When does coordination require centralization? American Economic Review, 98(1), 145–79.Google Scholar
Aral, S. (2011). Commentary – identifying social influence: a comment on opinion leadership and social contagion in new product diffusion. Marketing Science, 30(2), 217–23.Google Scholar
Aral, S., Muchnik, L. and Sundararajan, A. (2009). Distinguishing influence-based contagion from homophily-driven diffusion in dynamic networks. Proceedings of the National Academy of Sciences of the United States of America, 10(51), 21544–9.Google Scholar
Ash, J. and Newth, D. (2007). Optimizing complex networks for resilience against cascading failures. Physica A, 380(C), 673–83.Google Scholar
Bandura, A. (2000). Exercise of human agency through collective efficacy. Current Directions in Psychological Science, 9(3), 75–6.Google Scholar
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99120.Google Scholar
Bergenholtz, C. and Walstrom, C. (2011). Inter-organizational network studies – a literature review. Industry and Innovation, 18(6), 539–62.Google Scholar
Burt, R. (2004). Structural holes and good ideas. American Journal of Sociology, 110(2), 349–99.Google Scholar
Burt, R. S. (1992). Structural Holes: The Social Structure of Competition. Cambridge, MA: Harvard University Press.Google Scholar
Cachon, G. P., Zipkin, P. H. and Anderson, P. (1999). Complexity theory and organization science. Organization Science, 10(3), 216–32.Google Scholar
Carroll, G. R. and Hannan, M. T. (2000). The Demography of Corporations and Industries. Princeton, NJ: Princeton University Press.Google Scholar
Chandler, A. D. (1977). The Visible Hand: The Managerial Revolution in American Business. Cambridge, MA: Belknap Press of Harvard University Press.Google Scholar
Coase, R. H. (1937). The nature of the firm. Economica, 4(16), 386405.Google Scholar
Cohan, J. (2002). ‘I didn’t know’ and I was only doing my job’: has corporate governance careened out of control? A case study of Enron’s information myopia. Journal of Business Ethics, 40(3), 275–99.Google Scholar
Daily, C., Dalton, D. and Cannella, A. (2003). Corporate governance: decades of dialogue and data. Academy of Management Review, 28(477), 371–82.Google Scholar
Ethiraj, S. K. and Levinthal, D. (2004). Modularity and innovation in complex systems. Management Science, 50(2), 159–73.Google Scholar
Financial Stability Board (FSB) (2014). Guidance on Supervisory Interaction with Financial Institutions on Risk Culture: A Framework for Assessing Risk Culture. London: FSB. www.fsb.org/wp-content/uploads/140407.pdfGoogle Scholar
Forrester, J. W. (1968). Principles of Systems. Waltham, MA: Pegasus Communications.Google Scholar
Forrester, J. W. (1994). System dynamics, systems thinking, and soft OR. System Dynamics Review, 10(2–3), 245–56.Google Scholar
González-Bailón, S., Borge-Holthoefer, J., Rivero, A. and Moreno, Y. (2011). The dynamics of protest recruitment through an online network. Nature Scientific Reports.Google Scholar
Gordon, G. G. and DiTomaso, N. (1992). Predicting corporate performance from organizational culture. Journal of Management Studies, 29(6), 783–98.Google Scholar
Guille, A., Hacid, H., Favre, C. and Zighed, D. (2013). Information diffusion in online social networks: a survey. ACM SIGMOD Record, 42(2), 1728.Google Scholar
Hanneman, R. and Riddle, M. (2005). Introduction to Social Network Methods. https://bit.ly/2JCXTjjGoogle Scholar
Hatch, M. J. (1993). The dynamics of organizational culture. Academy of Management Review, 18(4), 65793.Google Scholar
Hermanson, D. R., Ivancevich, D. M. and Ivancevich, S. H. (2008). Tone at the top: insights from section 404. Strategic Finance Magazine, 90(5), 3945.Google Scholar
Holme, P. (2015). Modern temporal network theory: a colloquium. The European Physical Journal B, 88(234).Google Scholar
Humanities Commons (n.d.). Visualizing Les misérables. Website. https://lesmiserables.mla.hcommons.org/Google Scholar
Johnson, G., Scholes, K. and Whittington, R. (2008). Organising for success. In Exploring Corporate Strategy: Text & Cases, 8th ed. Harlow: Financial Times/Prentice Hall.Google Scholar
Katz, E. and Lazarsfeld, P. F. (2017). Personal Influence: The Part Played by People in the Flow of Mass Communications. New York: Routledge.Google Scholar
Kilduff, M. and Brass, D. J. (2010). Organizational social network research: core ideas and key debates. Academy of Management Annals, 4(1), 317–57.Google Scholar
Knuth, D. (1993). Coappearance weighted network of characters in the novel Les misérables. In The Stanford GraphBase: A Platform for Combinatorial Computing. Reading: Addison-Wesley.Google Scholar
König, M. D., Battiston, S., Napoletano, M. and Schweitzer, F. (2012). The efficiency and stability of R&D networks. Games and Economic Behavior, 75(2), 694713.Google Scholar
Kreps, G. L. (2017). Diffusion theory in integrative approaches. In Oxford Research Encyclopedia of Communication. Oxford: Oxford University Press.Google Scholar
Lambiotte, R., Lefebvre, E., Blondel, V. D. and Guillaume, J.-L. (2008). Fast unfolding of communities in large networks. Journal of Statistical Mechanics.Google Scholar
Lin, N., Ensel, W. M. and Vaughn, J. C. (1981). Social resources and strength of ties: structural factors in occupational status attainment. American Sociological Review, 46(4), 393405.CrossRefGoogle Scholar
Lovejoy, W. S. and Sinha, A. (2010). Efficient structures for innovative social networks. Management Science, 56(7), 1127–45.Google Scholar
McEvily, B., Jaffee, J. and Tortoriello, M. (2012). Not all bridging ties are equal: network imprinting and firm growth in the Nashville legal industry, 1933–1978. Organization Science, 23(2), 547–63.Google Scholar
McEvily, B., Soda, G. and Tortoriello, M. (2014). More formally: rediscovering the missing link between formal organization and informal social structure. Academy of Management Annals, 8(1), 299345.Google Scholar
Mehra, A., Kilduff, M. and Brass, D. J. (2001). The social networks of high and low self-monitors: implications for workplace performance. Administrative Quarterly, 46(1), 121–46.Google Scholar
Mihm, J., Loch, C., Wilkinson, D. and Huberman, B. (2010). Hierarchical structure and search in complex organizations. Management Science, 56(5), 831–48.Google Scholar
Newman, M. (2011). Communities, modules and large-scale structure in networks. Nature Physics, 8(1), 2531.Google Scholar
O’Connor, G. (2008). Major innovation as a dynamic capability: a systems approach. Journal of Product Innovation Management, 25(4), 313–30.Google Scholar
Onnela, J. et al. (2007). Structure and tie strengths in mobile communication networks. Proceedings of the National Academy of Sciences of the United States of America, 194(18), 7332–6.Google Scholar
Pastor, J.-C., Meindl, J. R. and Mayo, M. C. (2002). A network effects model of charisma attributions. Academy of Management Journal, 45(2), 410–20.Google Scholar
Pettigrew, A. M. (1979). On studying organizational cultures. Administrative Science Quarterly, 24(4), 570–81.Google Scholar
Powell, W. W. (1990). Neither market nor hierarchy: network forms of organization. Research in Organizational Behavior, 12, 295336.Google Scholar
Power, M., Palermo, T. and Ashby, S. (2013). Risk Culture in Financial Organisations: A Research Report. London: Centre for Analysis of Risk and Regulation, London School of Economics.Google Scholar
Rapert, M. I. and Wren, B. M. (1998). Reconsidering organizational structure: a dual perspective of frameworks and processes. Journal of Managerial Issues, 10(3), 287302.Google Scholar
Rogers, E. M. (2003). Diffusion of Innovations, 5th ed. New York: Free Press.Google Scholar
Rombach, P., Porter, M. A., Fowler, J. H. and Mucha, P. J. (2017). Core–periphery structure in networks (revisited). Society for Industrial and Applied Mathematics, 59(3), 619–46.Google Scholar
Schein, E. (1990). Organizational culture. American Psychologist, 45(2), 109–19.Google Scholar
Schwartz, M. S., Dunfee, T. W. and Kline, M. J. (2005). Tone at the top: an ethics code for directors. Journal of Business Ethics, 58(1), 79100.Google Scholar
Smith, J. A. and England, C. (2019). An ethnographic study of culture and performance in the UK lingerie industry. The British Accounting Review, 51(3), 241–58.Google Scholar
Soda, G. and Zaheer, A. (2012). A network perspective on organizational architecture: performance effects of the interplay of formal and informal organization. Strategic Management Journal, 33(6), 751–71.Google Scholar
Sosa, M. E. (2011). Where do creative interactions come from? The role of tie content and social networks. Organization Science, 22(1), 121.Google Scholar
Sosa, M. E., Eppinger, S. D. and Rowles, C. M. (2004). The misalignment of product architecture and organizational structure in complex product development. Management Science, 50(12), 674–89.Google Scholar
Teece, D. J. (2018). Dynamic capabilities as (workable) management systems theory. Journal of Management & Organization, 24(3), 359–68.Google Scholar
Tuveson, M. et al. (2018). Risk Management Perspectives of Global Corporations, Cambridge: Cambridge Centre for Risk Studies. https://bit.ly/2BZNF8CGoogle Scholar
Valente, T. W. and Davis, R. L. (1999). Accelerating the diffusion of innovations using opinion leaders. Annals of the American Academy of Political and Social Science, 566(1), 5567.Google Scholar
Verma, T. et al. (2016). Emergence of core–peripheries in networks. Nature Communications, 7(10441).Google Scholar
Zheng, W., Yang, B. and McLean, G. N. (2010). Linking organizational culture, structure, strategy, and organizational effectiveness: mediating role of knowledge management,. Journal of Business Research, 63(7), 763–71.Google Scholar

References

Abramovitz, M. (1956). Resource and output trends in the United States since 1870. American Economic Review, 46, 523.Google Scholar
Aghion, P. and Howitt, P. (1992). A model of growth through creative destruction. Econometrica, 60(2), 323–51.Google Scholar
Baldwin, C. Y. and Clark, K. B. (1997). Managing in an age of modularity. Harvard Business Review, 75(5), 8493.Google Scholar
Bendoly, E. and Chao, R. O. (2016). How excessive stage time reduction in NPD negatively impacts market value. Production and Operations Management, 25(5), 812–32.Google Scholar
Black, F. and Scholes, M. (1973). The pricing of options and corporate liabilities. Journal of Political Economy, 81(3), 637–54.Google Scholar
Campbell, D. T. (1960). Blind variation and selective retentions in creative thought as in other knowledge processes. Psychological Review, 67(6), 380.Google Scholar
Chandrasekaran, A., Linderman, K. and Schroeder, R. (2015). The role of project and organizational context in managing high-tech R&D projects. Production and Operations Management, 24(4), 560–86.Google Scholar
Chandy, R. K. and Prabhu, J. C. (2011). Innovation typologies. In Bayus, B., ed., Wiley International Encyclopedia of Marketing. Hoboken, NJ: John Wiley & Sons, pp. 96100.Google Scholar
Chao, R. and Kavadias, S. (2008). A theoretical framework for managing the new product development portfolio: when and how to use strategic buckets. Management Science, 54(5), 907–21.Google Scholar
Chao, R. and Lenox, M. (2018). Towards a unified model of innovation and technological change. Journal of Enterprise Transformation. https://doi.org/10.1080/19488289.2018.1424060Google Scholar
Chao, R. and Loutskina, E. (2011). How complexity impacts R&D portfolio decisions and technological search distance. SSRN Electronic Journal. Darden School of Business Working Paper. DOI: 10.2139/ssrn.1917607Google Scholar
Christensen, C. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Cambridge, MA: Harvard Business School Press.Google Scholar
Christensen, C. and Raynor, M. (2013). The Innovator’s Solution: Creating and Sustaining Successful Growth. Cambridge, MA: Harvard Business Review Press.Google Scholar
Clark, K. and Fujimoto, T. (1991). Product Development Performance: Strategy, Organization, and Management in the World Auto Industry. Cambridge, MA: Harvard Business School Press.Google Scholar
Cohen, W. M. and Klepper, S. (1996). Firm size and the nature of innovation within industries: the case of process and product R&D. Review of Economics and Statistics, 78(2), 232–43.Google Scholar
Cooper, R. G. (1990). Stage-gate systems: a new tool for managing new products. Business Horizons, 33(3), 4454.Google Scholar
Cooper, R. G. (1994). New products: the factors that drive success. International Marketing Review, 11(1), 6076.Google Scholar
De Meyer, A. C. L., Loch, C. H. and Pich, M. T. (2002). Managing project uncertainty: from variation to chaos. MIT Sloan Management Review, 43(2), 60.Google Scholar
Dillon, K. and Lafley, A. (2011). I think of my failures as a gift. Harvard Business Review, 89(4), 86–9.Google Scholar
Dixit, A. (1993). Choosing among alternative discrete investment projects under uncertainty. Economics Letters, 41(3), 265–8.Google Scholar
Ettlie, J. E., Bridges, W. P. and O’Keefe, R. D. (1984). Organization strategy and structural differences for radical versus incremental innovation. Management Science, 30(6), 682–95.Google Scholar
He, Z.-L. and Wong, P.-K. (2004). Exploration vs. exploitation: An empirical test of the ambidexterity hypothesis. Organization Science, 15(4), 481–94.Google Scholar
Henderson, R. M. and Clark, K. B. (1990). Architectural innovation: the reconfiguration of existing product technologies and the failure of established firms. Administrative Science Quarterly, 35(1), 930.Google Scholar
Hermalin, B. E. (2012). Leadership and corporate culture. In Gibbons, R. S. and Roberts, J., eds., The Handbook of Organizational Economics. Princeton, NJ: Princeton University Press, pp. 432–78.Google Scholar
Huchzermeier, A. and Loch, C. H. (2001). Project management under risk: using the real options approach to evaluate flexibility in R&D. Management Science, 47(1), 85101.Google Scholar
Kavadias, S. and Chao, R. (2007). Resource allocation and new product development portfolio management. In Loch, C. H. and Kavadias, S., eds., Handbook of New Product Development Management. London: Routledge, pp. 135–63.Google Scholar
Kavadias, S., Ladas, K. and Loch, C. (2016). The transformative business model. Harvard Business Review, 94(10), 91–8.Google Scholar
Kendrick, J. (1956). Productivity Trends: Capital and Labor. Washington, DC: National Bureau of Economic Research, pp. 323.Google Scholar
Kliem, R. L. and Ludin, I. S. (1997). Reducing Project Risk. Aldershot: Gower.Google Scholar
Knight, F. H. (1921). Risk, Uncertainty and Profit. Boston: Houghton Mifflin.Google Scholar
Koetzier, W. and Alon, A. (2013). Why ‘low risk’ innovation is costly. Accenture. https://bit.ly/36ueW0IGoogle Scholar
Kogut, B. and Kulatilaka, N. (2001). Capabilities as real options. Organization Science, 12(6), 744–58.Google Scholar
Kovach, J. and Kavadias, S. (2014). Focused or flexible targets? How organizational design influences the definition of success for strategic initiatives. http://dx.doi.org/10.2139/ssrn.2444444Google Scholar
Krishnan, V., Eppinger, S. D. and Whitney, D. E. (1997). A model-based framework to overlap product development activities. Management Science, 43(4), 437–51.Google Scholar
Kulatilaka, N. and Trigeorgis, L. (2004). The general flexibility to switch: Real options revisited. In Schwarz, E. and Trigeorgis, L., eds., Real Options and Investment under Uncertainty: Classical Readings and Recent Contributions. Cambridge, MA: MIT Press, pp. 179–98.Google Scholar
Levinthal, D. and March, J. G. (1981). A model of adaptive organizational search. Journal of Economic Behavior & Organization, 2(4), 307–33.Google Scholar
Levinthal, D. A. and March, J. G. (1993). The myopia of learning. Strategic Management Journal, 14(S2), 95112.Google Scholar
Loch, C., DeMeyer, A. and Pich, M. T. (2006). Managing the Unknown: A New Approach to Managing High Uncertainty and Risks in Projects. Hoboken, NJ: John Wiley.Google Scholar
Loch, C. and Kavadias, S. (2008). Handbook of New Product Development Management. London: Routledge.Google Scholar
Loch, C. and Sommer, S. (2005). Vol de nuit: the dream of flying car at Lemond Automobiles SA. INSEAD Case Study.Google Scholar
Loch, C. H., Terwiesch, C. and Thomke, S. (2001). Parallel and sequential testing of design alternatives. Management Science, 47(5), 663–78.Google Scholar
Luehrman, T. A. (1998). Strategy as a portfolio of real options. Harvard Business Review, 76(5), 89101.Google Scholar
Markou, P., Kavadias, S. and Oraiopoulos, N. (2018). Project selection and success: Insights from the drug discovery process. http://dx.doi.org/10.2139/ssrn.3225056.Google Scholar
McCormack, K. P. and Johnson, W. C. (2001). Business Process Orientation: Gaining the E-business Competitive Advantage. Boca Raton, FL: CRC Press.Google Scholar
Newell, A. and Simon, H. A. (1972). Human Problem Solving. Englewood Cliffs, NJ: Prentice-Hall.Google Scholar
Pennetier, C., Girotra, K. and Mihm, J. (2018). R&D spending: dynamic or persistent? Working Paper.Google Scholar
Pich, M. T., Loch, C. H. and De Meyer, A. (2002). On uncertainty, ambiguity, and complexity in project management. Management Science, 48(8), 1008–23.Google Scholar
Pindyck, R. S. (1993). A note on competitive investment under uncertainty. The American Economic Review, 83(1), 273–7.Google Scholar
Rice, M. P., O’Connor, G. C. and Pierantozzi, R. (2008). Implementing a learning plan to counter project uncertainty. MIT Sloan Management Review, 49(2), 54.Google Scholar
Ries, E. (2011). The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Crown Books.Google Scholar
Roberts, K. and Weitzman, M. L. (1981). Funding criteria for research, development, and exploration projects. Econometrica, 49(5), 1261–88.Google Scholar
Rogers, E. M. (2003). Diffusion of Innovations, 5th ed. New York: Free Press.Google Scholar
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), 71102.Google Scholar
Rosenberg, N. (2006). Innovation and economic growth. In Innovation and Growth in Tourism. Paris: OECD, pp. 4352.Google Scholar
Santiago, L. P. and Vakili, P. (2005). On the value of flexibility in R&D projects. Management Science, 51(8), 1206–18.Google Scholar
Sawhney, M., Wolcott, R. C. and Arroniz, I. (2006). The 12 different ways for companies to innovate. MIT Sloan Management Review, 47(3), 75.Google Scholar
Schein, E. H. (1992). Organizational Culture and Leadership, 2nd ed. San Francisco: Jossey–Bass.Google Scholar
Schoemaker, P. J. (1995). Scenario planning: a tool for strategic thinking. Sloan Management Review, 36(2), 2550.Google Scholar
Schumpeter, J. A. (1939). Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalist Process, vol. 1. New York: McGraw–Hill.Google Scholar
Shannon, C. E. (1948). A mathematical theory of communication. Bell System Technical Journal, 27(3), 379423.Google Scholar
Simonton, D. K. (1998). Donald Campbell’s model of the creative process: creativity as blind variation and selective retention. The Journal of Creative Behavior, 32(3), 153–8.Google Scholar
Simonton, D. K. (1999). Origins of Genius: Darwinian Perspectives on Creativity. Oxford: Oxford University Press.Google Scholar
Solow, R. M. (1956). A contribution to the theory of economic growth. The Quarterly Journal of Economics, 70(1), 6594.Google Scholar
Sommer, A. F., Hedegaard, C., Dukovska-Popovska, I. and Steger-Jensen, K. (2015). Improved product development performance through agile/stage-gate hybrids: the next-generation stage-gate process? Research–Technology Management, 58(1), 3445.Google Scholar
Terwiesch, C. and Loch, C. H. (1999). Measuring the effectiveness of overlapping development activities. Management Science, 45(4), 455–65.Google Scholar
Thomke, S. (1998). Managing experimentation in the design of new products. Management Science, 44(6), 743–62.Google Scholar
Thomke, S. and Nimgade, A. (2000). IDEO Product Development. Cambridge, MA: Harvard Business School Press.Google Scholar
Thomke, S. H. (1995). The economics of experimentation in the design of new products and processes. Unpublished PhD thesis, Massachusetts Institute of Technology.Google Scholar
Trigeorgis, L. (1996). Real Options: Managerial Flexibility and Strategy in Resource Allocation. Cambridge, MA: MIT Press.Google Scholar
Trott, P. (2008). Innovation Management and New Product Development. Harlow: Pearson.Google Scholar
Tushman, M. L. and Anderson, P. (1986). Technological discontinuities and organizational environments. Administrative Science Quarterly, 31(3), 439–65.Google Scholar
Tushman, M. L. and O’Reilly, C. A. (1996). Ambidextrous organizations: managing evolutionary and revolutionary change. California Management Review, 38(4), 829.Google Scholar
Tversky, A. and Kahneman, D. (1974). Judgment under uncertainty: heuristics and biases. Science, 185(4157), 1124–31.Google Scholar
Utterback, J. M. (1994). Radical innovation and corporate regeneration. Research-Technology Management, 37(4), 10.Google Scholar
Utterback, J. M. and Abernathy, W. J. (1975). A dynamic model of process and product innovation. Omega, 3(6), 639–56.Google Scholar
Valiant, L. (2013). Probably Approximately Correct: Nature’s Algorithms for Learning and Prospering in a Complex World. New York: Basic Books.Google Scholar
Van den Steen, E. (2010). On the origin of shared beliefs (and corporate culture). The RAND Journal of Economics, 41(4), 617–48.Google Scholar
Wheelwright, S. C. and Clark, K. B. (1992). Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. New York: Free Press.Google Scholar
Wideman, R. M. (1992). Project and Program Risk Management: A Guide to Managing Project Risks and Opportunities. Drexel Hill, PA: Project Management Institute.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×