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by Greg Hutchins Leave a Comment

Risk Management and Fear

Risk Management and Fear

Guest Post byĀ Ed PerkinsĀ (first posted on CERMĀ Ā® RISK INSIGHTS – reposted here with permission)

Risk Management is like vitamins; we know it is good for us, but we don’t always want to take it.

Why? Ā Human nature is to avoid discomfort and unpleasantness. Ā What does this have to do with risk?Ā  What is the real impact of consequence of a Risk? Ā Why do we not want to face it? If you think about it, it is the underlying of risk – it is Fear.

Fear is what keeps you up at night. Ā Now we often don’t call it Fear – we use softer terms like anxiety, worry, unease. Ā Fear is something to be avoided. Ā Fear is the nightmare. Ā Men, stereotypically, are not supposed to react to Fear. Don’t be afraid. Don’t be scared.

An interesting opinion piece in the NY Tines titled ā€œThis Is Your Brain on Metaphorsā€ discusses among other things, the fact the the human brain doesn’t distinguish between reality and the literal with metaphor and the symbolic. Ā So it doesn’t matter if the Risk is ā€œrealā€ or ā€œlikelyā€, the brain treats them all the same.

So what is an executive or manager to do? Ā Don’t let them know you’re afraid. Ā Don’t admit there are Risks. Ā Carry on with Business as Usual. Ā Any wonder Risk and risk-based decision-making is a tough thing to sell to management? Ā According to Wikipedia, a boogeyman is ā€œan amorphous imaginary being used by adults to frighten children into compliant behaviour.ā€ Ā VUCA, terrorism, disaster, nightmare consequences – they’re just the latest boogeyman. Ā Why do I (executive, manager) have to spend scarce resources dealing with this (Risk) boogeyman? Ā I am not Afraid.

But are you prepared?

Filed Under: Articles, CERMĀ® Risk Insights, on Risk & Safety Tagged With: Fear

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CERMĀ® Risk Insights series Article by Greg Hutchins, Editor and noted guest authors

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