Epistemological Schools of Thought and Risk Management Research

Authors

  • Uduakobong Inyang Department of Insurance and Risk Management, Faculty of Management Sciences, University of Uyo, Akwa Ibom State

DOI:

https://doi.org/10.1022/ijss.v3i1.74

Keywords:

Epistemology, Research philosophy, Research paradigm, Risk Management

Abstract

The main objective of the study was to provide knowledge on the epistemological schools of thoughts that most appropriately suits risk management research. The researcher then laid out the steps involved in managing risk, like identifying potential dangers, analyzing how likely the researcher are, figuring out how to control them, and then checking how well your plan worked. Next, the researcher looked at specific schools of thought like naturalism (focusing on the physical world), rationalism (using logic and reason), empiricism (based on evidence), idealism (emphasizing ideas), and existentialism (individual experience). By comparing these schools, the researcher showed how each has its strengths and weaknesses. The key takeaway? Don't just stick to one way of thinking about risk! Mix and match different approaches depending on the situation. This will help practitioners and researchers to make risk management research more reliable, accurate, and widely accepted. So, in a nutshell, this research is like a guide for choosing the right tools to navigate the tricky terrain of risk. By understanding different ways of knowing and using them strategically, practitioners and researchers can make better decisions and avoid getting caught off guard.

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Published

27-02-2024

How to Cite

Inyang, U. (2024). Epistemological Schools of Thought and Risk Management Research. Inverge Journal of Social Sciences, 3(1), 52–60. https://doi.org/10.1022/ijss.v3i1.74

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