BUSN 11100: Risk, Crisis and Resilience - Social Theory and Strategies

This report delves into the critical aspects of risk, crisis, and resilience management within organizations. It begins by exploring how social theories inform and influence our understanding of human behavior in relation to risk. The report then discusses the importance of these theories in developing effective risk and security strategies, with a focus on Marks and Spencer as a case study. It examines two key theories: risk management and decision theory, and a crisis management model, highlighting their practical applications in mitigating risks and enhancing security. The analysis includes the importance of an effective strategy for risk and security, including providing rapid insights into different cyber or other areas which consist of numerous risks, real time analysis, 24/ 7 monitoring, analytics and targeted searches over historical security data. The report concludes by emphasizing the significance of integrating these theoretical frameworks into organizational practices to achieve a competitive advantage and protect against potential threats. The report is a student submission to Desklib, a platform providing AI-based study tools.

Risk crisis and resilience
Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3

1. Risk and resilience management is an important aspect for any organisation, how do social
theory is risk and form and effect understanding of people's behaviour?..............................3
2. Discussion of two theories and why it is important for developing risk and security
strategies?...............................................................................................................................4
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
In present time, risk and resilience management can be considered as something which is
important to understand for every single business organisation. The reason that came in front was
staff members, consumers and other people’s behaviour directly gets change (Nock and et. al.,
2018). Therefore, it has become vital for companies to develop risk and security related
strategies in order to reduce the probable number of forests in order to enhance the security level
in much effective and efficient manner. Present report is going to be enclosed with Marks and
Spencer which husband going through different problems and least number of risks which
affected overall performance level as well of the company. Report will also show social theories
and their importance for better security concerns for business organisation.
Main Body
1. Risk and resilience management is an important aspect for any organisation, how do social
theory is risk and form and effect understanding of people's behaviour?
Over the years, risk and resilience management can be taken as forms that are designated
to oversee unforeseen occurrences that danger associations, tasks, and individual or gathering of
individuals (Greene, 2017). An emergency happens without alerts and it is most extreme
significant that plans are set up to have the option to execute rapidly (responsive) such activities
to cure circumstances or decline the effect of an emergency to restore ordinariness. Hazard
Management is a ceaseless procedure which dangers are underscored and arrangements are set
up to alleviate or maintain a strategic distance from the dangers (proactive). Regardless of how
decidedly ready the techniques are for chance administration, a prerequisite for any associations
or gatherings need to have an emergency the board plan set up. Emergencies in retail
associations emerge constantly. On the other hand, it has been analysed that retail market consist
of four dangers related, for example, consistence, operational, monetary and compliance related
risks (Cassirer and et. al., 2018).
Consistence manages the laws, guidelines and corporate administration. Operational is
the effects on the procedures, frameworks, and individuals to incorporate the general estimation
of the association. Vital identifies with our clients and financial specialists to incorporate
contenders. Finally, Financial is the insecurity to stay aware of innovation, fixing equipment

disappointments, reports on programming and have the correct preparing for the workers
(Hatvani-Kovacs and et. al., 2016).
2. Discussion of two theories and why it is important for developing risk and security strategies?
Risk management and decision theory
There are a few similitudes at the point when the hazard the executives procedure is
concentrated further. Hazard the board endeavors to survey vulnerabilities and organize them,
which determination hypothesis can accomplish for the last mentioned. Hazard the board settles
on choices to deal with the vulnerabilities, while decision hypothesis can recommend what the
right game-plan is manage the vulnerability, if data on the hazard taking conduct of the chief is
available. Decision hypothesis can be applied to organize hazards along these lines to the hazard
(Talley and et. al., 2016).
At the point when adequate data on the leader's hazard taking conduct is accessible, the
leader's quantitative hazard network can be anticipated by computing the utility of the cells in the
hazard network, every one of which shows a scope of dangers. The outcome can be utilized as a
sign of need, with dangers in cells of the biggest supreme utility having higher need than dangers
with lower supreme utility. Therefore, it is pretty much required by Marks and Spencer to
consider all the decision factors that can be influenced by any decision maker as these are
belongs to personality and the characteristics.
It has been analysed that number of traits consist of risk taking behaviour and influence
them in relation to how risk taking behaviour would lead the company to go through different
issues and responsibilities in relation to risk and resilience (Hoorelbeke and et. al., 2016).
Crisis Management Model
Crisis allude or show the spontaneous occasions which cause damage to the association
and lead to unsettling influences and significant turmoil among the workers. Emergency offers
ascend to a sentiment of dread and danger in the people who in the end lose intrigue and trust in
the association. All of the stages of this model are presented underneath:
Analysis of Crisis: The principal organize includes identifying the early pointers of
emergency. It is for the pioneers and chiefs to detect the notice signs of an emergency and set up
the representatives to confront the equivalent with mental fortitude and assurance. It is required
by management to audit the exhibition of their subordinates every now and then to recognize
what they are doing. Checking the exhibition of the worker normally encourages the directors to

anticipate emergency and caution the representatives against the negative outcomes of the
equivalent. One ought not overlook the disturbing signs of emergency however take important
activities to forestall it.
Arranging: When an emergency is being identified, emergency supervisory crew should
quickly take swift, decisive action. Ask the workers not to freeze. Devise applicable techniques
to keep away from a crisis circumstance. Sit and talk about with the related individuals to turn
out with an answer which would work best at the hours of emergency. It is fundamental to take
speedy choices. One should be alert and in particular patient. Ensure the raw numbers are right.
Try not to depend on negligible estimate works and suppositions. It will cost Marks and Spencer
after sometime.
Acclimating to Changes : Workers must modify well to new circumstances and changes
for successful working of association in not so distant future. It is imperative to examine the
causes which prompted an emergency at the work environment. Slip-ups ought not be rehashed
and new plans and procedures must be fused in the framework.
Importance of the risk and security strategies: In present time, it has been analysed that
all the business organisation are exposed to risk and various companies perform some sort of risk
management. However, if it is analysed then it is pretty much required by them to precisely
understand different kinds of risks and their nature as it will help them in managing them in a
systematic and in an effective manner. also, it is pretty much required by them to understand the
principles along with framework which is enclosed within the risk management process. In order
to become effective, risk management programs that a company is already having wood required
to to effectively manage cognition, decision making, judgement, and many of other key drivers
that may help them in gaining competitive advantages through successful risk management
system dynamics (Fredriksen-Goldsen and et. al., 2017).
It is may be enclosed with different systematic factors like desired levels of risk
management investment, risk detection capabilities, perceived risk, trust of personal dynamically
interact and can create feedback loops that either in force risk mitigation capabilities are
produced an expose organisations to insider threat vulnerabilities. If it is talked about Marks and
Spencer, then and the two theories that has been taken into consideration at the above level, there
are some of the importance that can be should for developing risk and security related strategies
and some of these are presented underneath:

 The primal most importance of developing an effective strategy for risk and security is
that it helps in delivering rapid insights into different cyber or other areas which consist
of numerous risks. Basically, it has been analysed that a strategy may help in going into
the inductor knowledge of a particular risks or a number of risks that are present within
the environment. with the help of this, right decisions can be taken at the correct time and
may lead to reduce the chances of getting problems in near future (McLaughlin and
Lambert, 2017).
 Another crucial importance that came in front was that developing effective risk and
management strategy may help in providing real time analysis, 24/ 7 monitoring,
analytics and targeted searches over historical security data that the company is already
having in relation to its customers and different documents. With the help of this, it can
easily be said that Marks and Spencer or any other organisation can gain the knowledge
in relation to third and with the help of intelligence right amount of modifications could
be made for reducing the resilience and the risk present in today’s business environment.
 Designing and implementing and efficient and appropriate holistic thread intelligence
solution may also so can be considered as one of the crucial benefit that an organisation
like Marks and Spencer can get from developing or executing an effective approach of
risk and security for its own and for its customers as well. Basically, cybersecurity is
considered to be one of the crucial security aspect that is required to be or taken into
consideration because many hackers in today's market at present and has affected and
implemented various plans to affect the Goodwill, profit margins, image brand portfolio
and other aspects of a company which is dealing at large level within retail Industry.
 Along with this, another vital importance which was found of developing effective
strategy in relation to both security and risk is considered which helps in monitoring the
digital ecosystem, helps in finding out the threat intelligence and also affects the decision
making process of different risks like the existing ones or for the number of security
aspects which are linked with the future aspects, because it has been analysed that the
near future will be considered as one of the situation where security measures will be
taken into consideration much more effectively and in efficient manner by various
business organisations. In the same way, it is must for Marks and Spencer as well to

consider an effective approach for reducing the number of risks and enhance the security
level of information (Chaukos and et. al., 2017).
Therefore, it can easily be said that scope of developing and implementing a security
strategy is really very wide in real time management because it will help the number of expertise
of technology and different partner supports among different levels in managing the different
services as this will provide the above mentioned importance and benefits to the company.
Conclusion
With the help of above mentioned report, it can easily be said that developing an effective
strategy in relation to both risk and safety or the security may lead an organisation to gain
competitive advantages wine serving the best experience to its customers and to cope up with the
information that they have shared so that no issues like hackers leaking personal information or
any other activities like malware would not take place. Considering the different theories may
help an organisation in enhancing the security reasons and it may also lead them to reduce the
the number of tourists that may affect company and its brand image in front of the competitive
business environment.

References
Books and journals
McLaughlin, K.A. and Lambert, H.K., 2017. Child trauma exposure and psychopathology:
mechanisms of risk and resilience. Current opinion in psychology, 14, pp.29-34.
Chaukos, D., and et. al., 2017. Risk and resilience factors associated with resident
burnout. Academic Psychiatry. 41(2). pp.189-194.
Hoorelbeke, K and et. al., 2016. The interplay between cognitive risk and resilience factors in
remitted depression: a network analysis. Journal of Affective Disorders. 195. pp.96-104.
Nock, M.K and et. al., 2018. Risk factors for the transition from suicide ideation to suicide
attempt: Results from the Army Study to Assess Risk and Resilience in Servicemembers
(Army STARRS). Journal of abnormal psychology. 127(2). p.139.
Cassirer, E.F and et. al., 2018. Pneumonia in bighorn sheep: Risk and resilience. The Journal of
Wildlife Management. 82(1). pp.32-45.
Hatvani-Kovacs, G and et. al., 2016. Heat stress risk and resilience in the urban
environment. Sustainable Cities and Society. 26. pp.278-288.
Fredriksen-Goldsen, K.I and et. al., 2017. Health equity and aging of bisexual older adults:
Pathways of risk and resilience. Journals of Gerontology Series B: Psychological
Sciences and Social Sciences. 72(3). pp.468-478.
Greene, R.R., 2017. Risk and resilience theory: A social work perspective. In Human behavior
theory and social work practice (pp. 315-342). Routledge.
Talley, A.E., and et. al., 2016. Addressing gaps on risk and resilience factors for alcohol use
outcomes in sexual and gender minority populations. Drug and alcohol review. 35(4).
pp.484-493.
Meichenbaum, D., 2017. Bolstering resilience. The Evolution of Cognitive Behavior Therapy: A
Personal and Professional Journey with Don Meichenbaum. 172.