INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND HUMANITY STUDIES IMPLICATIONS OF THE IMPACT OF RISK MANAGEMENT IN DECISION MAKING IN LOCAL GOVERNMENT: A CASE OF ETHEKWINI MUNICIPALITY

Abstract

In both the public and the private sector, whether in the developed or emerging markets, risk management as a body of knowledge and a field of research has garnered considerable traction.  The risk phenomenon has a direct and indirect impact on both human beings and organizations and should therefore, be prioritized to reduce the headwinds it can create. The paper refers to various scholastic contributions, the associated theoretical underpinnings, and a research model to shed light on the risk management phenomenon within the context of the local government environment in the wake of the COVID-19 pandemic and the adverse conditions it has created. The research methodology has been embedded in qualitative precepts and philosophy and uses thematic data collection analysis to solicit insightful views based on experience and expertise within the organisational precinct. Purposeful sampling guided the respondents’ recruitment and the participation in the study. The findings point to several limitations ranging from the systems, processes, resources, culture, and the general buy-in form the organization-wide perspective. The overriding evidence from the findings accentuated the significance of resource allocation and the prioritization of risk mitigation deliverables right across the length and breadth of an institution. Future research should extend the scope of the current study outcomes and a turnaround strategy should be adopted to address the liability that is created by the management dereliction and abdication. The findings also revealed the importance of leadership role and style which play a critical role in fostering and bolstering a climate that is conducive to risk lessening environment.