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Organizational Risk after Modernism Kent D. Miller Abstract This study identifies the modernist assumptions in organizational risk research, alongwith their historical origin and limitations. Ris Key words: risk, risk management, modernism, postmodernism The ways in which people have conceived of risk have varied historically(Bernstein 1996). The association of risk with probability th article title OrganizationStudies30(02&03): 157180ISSN 01708406Copyright 2009SAGE Publications(Los Angeles,London, New Delhiand S Kent D. Mille rMichigan StateUniversity, USAwww.egosnet.org/os DOI: 10.1177/0170840608101475

responds critically to modernist beliefs, particularly those regarding epistemology,and offers alternatives (Gephart et al.1996; Hass affirmative postmodernism (see Rosenau 1992), in which the intent behind the postmoderncritique is to generate an alternative conceptualiza How Modernist Assumptions Have ShapedOrganizational Risk Research Risk within Modernism Modernism has been the dominant philosophical perspective in western soci-ety since the Enlightenment. The leading figures who 158 Organization Studies 30(02&03)

the world itself as nondeterministic (Hacking 1990). During the Enlightenment,games of chance became the predominant metapho Miller: Organizational Risk after Modernism 159 Organizational Risk After Modernism Download this Document for FreePrintMobileCollectionsReport Document Report this document?

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with their historical origin and limitations. Risk research from a modernist perspectivefocuses primarily on individuals, treats risk preferences as exogen

96). The association of risk with probability theory took place dur-ing the shift toward modernity in western culture (Hacking 1975, 1990).Modernist th

ications(Los Angeles,London, New Delhiand Singapore)

d offers alternatives (Gephart et al.1996; Hassard 1993, 1996).This study is an exercise following Derridas (1976) logic of supplementarity,a deconstruc

ue is to generate an alternative conceptualization of organizational risk thatcan serve as the basis for advancing theory building and testing.

e the Enlightenment. The leading figures who contributed to mod-ernism were by no means of one mind, yet their work reflected some sharedphiloso

of chance became the predominant metaphor for risk. This approachassumed that the distribution of events can be known or estimated, but outcome

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mail with instructions on how to continue.

n individuals, treats risk preferences as exogenously given, attemptsto quantify risk, assumes that risk reflects a given probability distribution, omits eth

ern culture (Hacking 1975, 1990).Modernist thinking has continued to inform risk research up to the present time.Because of their pervasiveness in risk

s (1976) logic of supplementarity,a deconstructive strategy that recognizes within a privileged conceptualizationan implicit omitted conceptualization (s

ancing theory building and testing.

, yet their work reflected some sharedphilosophical commitments. Distinguishing modernism are its epistemologi-cal and metaphysical claims. Regardi

ents can be known or estimated, but outcomescannot be predicted with certainty. As such, unpredictability becomes an inher-ent feature of the world

lects a given probability distribution, omits ethicalconsiderations, and neglects actions by focusing on decision making. This study proposesa contrastin

ent time.Because of their pervasiveness in risk research, modernist assumptions are oftentaken for granted, rather than explicitly acknowledged and d

izationan implicit omitted conceptualization (see also Culler 1982). In the logic of sup-plementarity, the omitted conceptualization is explicitly introduc

temologi-cal and metaphysical claims. Regarding epistemology, modernists started fromskepticism and sought to establish an indubitable basis for just

ity becomes an inher-ent feature of the world, rather than a shortcoming of peoples limited percep-tions and knowledge. Thus, even in the face of ran

cision making. This study proposesa contrasting postmodern perspective on organizational risk. By this view, risk is a socialand multilevel phenomenon;

ed, rather than explicitly acknowledged and defended. They sup-port the prevailing paradigm within which normal science can proceed (seeKuhn 1970

mitted conceptualization is explicitly introduced to supplementand contradict the privileged conceptualization. Following such an approach,this study

ought to establish an indubitable basis for justifying knowl-edge claims. Modernism promoted a skeptical view toward authority and tra-dition, and aff

s and knowledge. Thus, even in the face of randomness, modernists wereable to preserve the ideal of the competent autonomous individual knower, a

ew, risk is a socialand multilevel phenomenon; risk preferences, perceptions, and responses are learned; risk is subjectively perceived and often unquan

ch normal science can proceed (seeKuhn 1970).To draw the connection between modernism and current conceptualizations of risk in organization the

zation. Following such an approach,this study proposes a postmodern perspective on organizational risk by identify-ing and challenging assumptions in

view toward authority and tra-dition, and affirmed the possibility of achieving objective rationality indecision making and science. In metaphysics, mo

e competent autonomous individual knower, aswell as the feasibility of science and technological progress, by assuming thatthe world could be describ

risk is subjectively perceived and often unquantifiable; the environment is a complex, sociallyconstructed system; ethical considerations are integral to

conceptualizations of risk in organization theory and strategic management research, the first sectionof this article begins with an explanation of mod

by identify-ing and challenging assumptions in current risk research that reflect the influenceof modernist thinking. In doing so, the perspective taken i

ision making and science. In metaphysics, modernists favored naturalismand atomism (Murphy 1997). Modernists believed that the world was real and

ss, by assuming thatthe world could be described in terms of probability distributions. Consistencyin the natural and social world occurs at the level of

system; ethical considerations are integral to risk assessment and manage-ment; and organizations respond to risk through their actions, not just by m

this article begins with an explanation of modernism as it arose during theEnlightenment, then covers the understanding of risk and theories of risky d

t thinking. In doing so, the perspective taken is one of

odernists believed that the world was real andcoherent, making scientific progress possible. Atomism carried over from nat-ural science (e.g. Galileo a

natural and social world occurs at the level of distributions, not isolatedevents. By asserting this view, modernism sustained the claim that individualsca

ond to risk through their actions, not just by making deci-sions. These themes motivate new directions for organizational risk research.

e understanding of risk and theories of risky deci-sion making emerging out of this period. The latter portion of this section iden-tifies the specific mod

rried over from nat-ural science (e.g. Galileo and Newton) as an emphasis on the individual inphilosophical method (e.g. Descartes and Kant) and social

dernism sustained the claim that individualscan have accurate knowledge and make rational (i.e. probabilistically optimal)decisions, despite uncertaint

or organizational risk research.

ion of this section iden-tifies the specific modernist assumptions evident in recent organizational risk rese

al method (e.g. Descartes and Kant) and social theories (e.g.Hobbes and Locke).The cultural context shaped by modernist p

ilistically optimal)decisions, despite uncertainty about the future.Although it is possible to point to modernis