Abstract:
Research indicates that the dynamics and complexities driving and challenging business organisations in the current era have increased exponentially in the recent past. As a result more complex demands are being placed on organisations to adapt to an ever-changing environment. This adaptation to change is demanding more flexible structures capable of enduring the dynamics of current market risks. This research proposed that such endurance is possible by reconsidering the current paradigm that governs an understanding of risk. It is proposed that risk to date has been focused on a quantitative perception. In the light of this a comprehension from a qualitative perspective is proposed. This comprehension will then permit concepts from a number of diverse disciplines to be incorporated into an alternative paradigm on risk. As such a more creative approach to understanding risk can be presented. This dissertation will focus on introducing creativity into the current understanding of risk in a bid to produce a qualitative risk model capable of not only defining an alternative definition of risk but also providing solutions to managing risk. In this manner, it is proposed that a trend toward a more flexible organisational structure will arise and a comprehension of risk that is more in keeping with current economic trends will result.
