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Background: As companies are operating in more globally and complex environments, the need for risk control is accelerating. In an ever-changing environment, companies cannot merely focus on traditional risks, which include financial and insurable risks. To maintain competitiveness, companies need to extend their risk management to include all risks, traditional as well as operational and strategic risks. Purpose: The purpose is to describe and position risk management for Telecom operators, in comparison with the risk management literature, with regards to structure, processes, learning process, visions and benefits. In addition, our aim is to link risk management perspectives with the different strategies for knowledge management. Method: The approach taken is a hermeneutic case study, in which a total of 13 in-depth interviews with three different Telecom operators have been carried out. Results: The main findings are that the Telecom operators have developed their risk management to the business risk management perspective. There are some indications however that the companies are focusing on widening their risk management to the Enterprise-Wide perspective. The degree of the environments complexity, in which companies are operating, is determining the need for different risk management perspectives. To maintain their competitiveness in a highly complex environment a wider risk management perspective is needed. This includes operational and strategic risks, which are non-quantifiable. Therefore the personalization strategy is to recommend for achieving an effective risk management. A less complex environment, on the other hand, can mainly focus on the traditional risks. These risks are quantifiable, and therefore the codification strategy is to prefer. |
