Effects of Risk Culture on Organizational Performance

Extant studies on risk culture and organisation performance suggest risk culture has an effect on organisational performance. Unfortunately these studies are few and are concentrated on developed countries. This book examined the relationship between risk culture and business performance in Ghana, a developing country. Organisational performance was examined using both financial and nonfinancial measures. All factors of the two main variables of risk culture and organisational performance were measured using the Five-Point Likert Scale and were analysed using descriptive statistical measures. The data was obtained from the nineteen (19) banks listed on the Ghana Club 100. The findings revealed that there was no significant differences among organisations in terms of the risk culture determinants and organisational performance measures. Leadership action or inaction is seen as the attribute with the strongest potential for affecting the development an effective risk culture. Overall, there was a positive correlation between Risk Culture and Organisational Performance. Finally, the book provides a generic Risk Culture Framework to facilitate the development of effective risk culture.

Benjamin holds a MPhil in Business Consulting and Enterprise Risk Management from the Kwame Nkrumah University of Science and Technology and a Bsc (Hons) from the University of Ghana, Legon. He has extensive experience in operational risk management and compliance, business continuity management, and management consulting