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Beyond Bad Apples

Beyond Bad Apples
Risk Culture in Business


Michelle Tuveson, Daniel Ralph, Kern Alexander, Jennifer Howard-Grenville, Michael Power, Stelios Kavadias, Kostas Ladas, Duncan Needham, Anthony Hotson, Andrew Freeman, Anette Mikes.
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  • Publication planned for: July 2020
  • availability: Not yet published - available from July 2020
  • format: Paperback
  • isbn: 9781108466882

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About the Authors
  • The one bad apple spoiling the whole barrel has become a common metaphor used with reference to risk culture in organisations. This “inside-out” perspective begins with the individual as the unit of analysis and follows with inferences to the broader environment. Since the Global Financial Crisis (GFC) of 2008, risk culture for many has become the explanation for shortcomings, poor decisions, and moral failures in organisations. This volume presents an institutional perspective of the forces that shape risk culture, and culture more generally, in organisations through a multi-disciplinary examination from a variety of leading academics and subject specialists. The authors demonstrate that firms play a role as manufacturers and managers of risk and they challenge common conceptions that attribute risk to chance circumstances or rogue behaviours. The foundational concepts needed for an institutional view of risk culture are highlighted with subsequent links to significant developments within society and firms.

    • Challenges the predominant 'inside-out' perspective of risk culture
    • Explores how firms might build upon the legacies of risk culture post-Financial Crisis to incorporate new thinking on performance, innovation, and growth
    • Includes contributions by leading scholars from multiple disciplines
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    Product details

    • Publication planned for: July 2020
    • format: Paperback
    • isbn: 9781108466882
    • dimensions: 228 x 152 mm
    • availability: Not yet published - available from July 2020
  • Table of Contents

    Introduction Michelle Tuveson, Daniel Ralph and Kern Alexander
    I. Risk culture conceptual underpinnings:
    1. Individual agency and collective patterns of action: organisational culture through the lens of organisational theory Jennifer Howard-Grenville
    2. Risk culture and information culture: why an “appetite for knowledge” matters Michael Power
    3. A network view of tone at the top and the role of opinion leaders Michelle Tuveson and Daniel Ralph
    4. Rethinking risk management cultures in organisations: insights from innovation Stelios Kavadias and Kostas Ladas
    II. A view of risk culture concepts in firms and society:
    5. The changing risk culture of UK banks Duncan Needham and Anthony Hotson
    6. Regulating agency relationships and risk culture in financial institutions Kern Alexander
    7. What does risk culture mean to a corporation? Evidence for business value Andrew Freeman
    8. Values at risk: perspectives on the ethical turn in risk management Anette Mikes
    conclusion Michelle Tuveson, Daniel Ralph and Kern Alexander

  • Editors

    Michelle Tuveson, Judge Business School, Cambridge
    Michelle Tuveson is Chairman and Executive Director of the Cambridge Centre for Risk Studies, Cambridge Judge Business School. She is a board member, commentator and speaker and her articles have been published in reports such as Risk Analysis: An International Journal, and Financial Times Special Report on Risk Management.

    Daniel Ralph, Judge Business School, Cambridge
    Danny Ralph is the founding Academic Director of the Centre for Risk Studies in Cambridge Judge Business School, and Fellow of Churchill College, at University of Cambridge. Danny works with leading international organisations, in financial services, energy and beyond, on identifying, assessing and managing systemic risks.

    Kern Alexander, Universität Zürich
    Kern Alexander is Professor of Banking and Financial Market Regulation at the University of Zurich. His research focuses on the regulation of financial markets. He is the author of Principles of Banking Regulation (Cambridge University Press, 2019), and co-author of Brexit and Financial Services: Law and Policy (2018), and Economic Sanctions: Law and Public Policy (2009).


    Michelle Tuveson, Daniel Ralph, Kern Alexander, Jennifer Howard-Grenville, Michael Power, Stelios Kavadias, Kostas Ladas, Duncan Needham, Anthony Hotson, Andrew Freeman, Anette Mikes.

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