PhD Thesis of Management Sample

(2000) separates uncertainty and risk according to both factors
Abstract
The existence of uncertainty, complexity and ambiguity in the
business environment promotes the need to establish a dependable
risk governance. The use of Enterprise Risk Management (ERM) has
also been considered as an effective method to attain good risk
governance in order to deal with both upside and downside of
uncertainty and risk. ERM treats all of the risks holistically in order to
achieve organization aims in volatile, normal and crisis situations. This
PhD thesis will discuss issues related to the ERM implementation and
how it has been adapted and implemented in the insurance market of
both India and UK. Mixed methods for research have also been
employed coming from a qualitative stand point in order to explore
research issues, consisting two surveys in both countries, with more
than 50 interviews, as well as two case studies in the country’s
insurance markets. The study revealed that an ambiguity is present
when it comes to understanding all definitions of ERM, as well as the
risks involved across both of the countries.
Background of the Study
In the current environment of business, corporations faced
ambiguity, volatility, and uncertainty. Understanding uncertainty
and risk has posed a number of challenges, and a clear
distinction between uncertainty and risk is not clear. Ramir
as measurability and immeasurability. It also highlights the
impact of individual characteristic involved in the situation in
terms of probability determination. Bernel (1998) also
connected the importance of conditions to uncertainty where
both measurement and rationality are vital to the process of
decision making.