Risk Management Culture in Organizations – Assessment and Good Practices

In a dynamic and uncertain business environment, organizations are faced with increasing strategic, operational and reputational risks, which puts the culture of risk management in the focus of contemporary management research. This article examines the culture of risk management as a key factor for the sustainable development, adaptability and competitiveness of organizations.

The empirical part is based on a survey among employees of three companies in the trade sector in the Veliko Tarnovo region. Two questionnaires were used to assess the risk management culture: an adapted “Risk Management Culture Assessment” and a questionnaire for assessing the ability of organizations to monitor and develop risk culture through monitoring and training. The data were analyzed using a fivepoint Likert scale.