Osman, AltaafLew, Charlene2020-09-102021Altaaf Osman & Charlene C. Lew (2021) Developing a framework of institutional risk culture for strategic decision-making, Journal of Risk Research, 24:9, 1072-1085, DOI: 10.1080/13669877.2020.1801806.1366-9877 (print)1466-4461 (online)10.1080/13669877.2020.1801806http://hdl.handle.net/2263/76140Although practitioners have long sought to define risk culture, its role in strategic decision-making is not yet well understood. This paper addresses this gap from an institutional theory and organisational culture perspective. Findings from a qualitative study in the automotive industry provide insights into the importance of risk culture in strategic decision-making. Based on the findings, we propose a framework for understanding the different factors of risk culture that affect strategic decision-making. This yields insights into the facets of risk culture and highlights the role that both the board as well as management play in driving a risk culture and fostering the values and behaviours required for enabling risk appropriate strategic decisions. Management may use the findings to define a culture that will drive risk-appropriate behaviour, create alignment for the organisation, allow for transparency and accountability and foster improved strategic decision-making.en© 2020 Informa UK Limited, trading as Taylor & Francis Group. This is an electronic version of an article published in Journal of Risk Research, vol. 24, no. 9, pp. 1072-1085, 2021. doi : 10.1080/13669877.2020.1801806. Journal of Risk Research is available online at : https://www.tandfonline.com/loi/rjrr20.Risk cultureRisk managementBoard responsibilityManagement responsibilityStrategic decision-makingPostprint Article