University of Missouri - St Louis Constructive Dialogue and ERM: Lessons from the Financial Crisis Case

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University of Missouri - St Louis


Please review Chapter 32: Constructive Dialogue and ERM: Lessons from the Financial Crisis Case and provide response for following questions.

1. What are the preconditions for conducting constructive dialogue in an organization?
2. Is effective risk management possible without constructive dialogue?
3. What are the forces that tend to undermine effective risk management in an organization?
4. Given its obvious value in helping an organization to understand the major risks that could prevent it from accomplishing its mission and objectives, why was the financial sector, including a risk-sensitive organization such as Goldman Sachs, so slow in adopting ERM?

You are required to respond to the questions thoroughly, in 250 -to-300 words for each question. Be sure to include at least three reference sources. APA rules for formatting, quoting, paraphrasing, citing, and listing of sources are to be followed.

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Chapter 32 Questions



What are the preconditions for conducting constructive dialogue in an organization?
Constructive dialogue in an organization helps to build a shared understanding among
those involved. This allows for those who are experiencing disagreements to gradually make
them into a shared meaning that increases the mutual understanding and creative thinking as a
team possible. According to Schein (n.d.). He expresses a dialogue as being “Dialogue is, by
definition, a process that has meaning only in a group. Several people have to collaborate for
dialogue to occur.” As the group hears the others speaking, they can build a concept of how that
person thinks and expresses their meanings. As opposed to striving towards convincing others, a
constructive dialogue process helps the person achieve a collective understanding of a joint
experience base. The preconditions of conducting a constructive dialogue in an organization are
to help establish the boundaries between ethics and morals, prejudice and bias, as well as how
the company is being perceived by those involved (Fraser, Simkins & Narvaez, 2014). To set the
context, there must be an organization of the physical space, introduce the general concepts of
what the dialogue is and ask for questions from their past experiences, think about all the
different characteristics and reflect on them, intervene when and if necessary to those who have
commented, and close the session by requesting everyone to comment on where they find
necessary from what has been stated. The group could feel at first that the initial experience of
the dialogue has been a detour for the problems they are trying to solve (Jokinen, 2009).
However, the real chance isn’t going to proceed until the group feels psychologically safe and
that the implicit and explicit of th...

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