Strategic Risk Governance in Hazardous Industries: A Business Management Model for Zero-Incident Enterprise Performance
Year: 2026
Type: article
Abstract: Hazardous industries operate within environments characterized by regulatory intensity, operational volatility, and high liability exposure. Despite substantial advances in safety management systems, incident prevention in many sectors remains predominantly compliance-driven and operationally confined. This paper argues that sustainable zero-incident performance cannot be achieved through procedural adherence alone; rather, it requires the elevation of risk from a technical control variable to a core strategic governance function embedded within executive decision-making. Drawing upon contemporary governance theory, enterprise risk management literature, and organizational design principles, this study develops a conceptual framework termed the Strategic Risk Governance Model (SRGM). The SRGM reconceptualizes risk oversight as a vertically integrated architecture spanning board-level accountability, executive coordination mechanisms, operational translation systems, and digitally enabled monitoring infrastructures. Within this architecture, the risk matrix is redefined not as a technical classification tool, but as a strategic instrument that aligns capital allocation, organizational scaling, and performance measurement with incident-prevention objectives. The paper introduces the concept of the “zero-incident enterprise” as a managerial paradigm distinct from traditional zero-accident rhetoric. While zero-accident narratives emphasize outcome control, zero-incident governance emphasizes structural design, predictive oversight, and institutionalized accountability. Through this reframing, risk governance becomes a source of competitive differentiation, trust capital accumulation, and financial resilience rather than merely a regulatory obligation. The study contributes to Business Management scholarship by offering a structured model that integrates regulatory complexity, operational execution, and strategic growth within a unified governance system. It further demonstrates how risk-intensive organizations can scale across sectors and jurisdictions without amplifying liability exposure. By positioning risk governance as a determinant of enterprise value, the paper advances a theoretical foundation for incident-free performance as a measurable and strategically engineered outcome.
Author: Okay Selcuk
Language: English
Subfield: Radiological and Ultrasound Technology
Field: Health Professions
Domain: Health Sciences
Open Access status: bronze
OpenAlex ID: W7147669190
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