Understanding organizational culture falls in the class of problems traditionally tackled by social scientists. More generally, any set of beliefs that affects a given organizational function-such as risk management-reflects organizational culture. In other words, risk culture can be interpreted as the embodiment of various beliefs that affect the way the risk management function is performed within a given organization. In this context, risk culture can be defined as вЂњpatterns of behavior, habits of thinking, traditions and rituals, shared values and shared language that shape and direct the management of riskвЂќ within these organizations. The emergence of these events is partly attributed to the way in which risk management is practiced, which reflects the risk culture of a given organization. One would expect that a single manifestation of such malpractice would have been enough to tarnish the reputation of the entire sector, yet nothing much has changed for the finance sector, with examples of fraudulent activity and misconduct continuing to emerge on a regular basis. In the following years this event has come to be known as the вЂњLondon WhaleвЂќ incident, with substantial financial consequences-including 459 million USD of losses in net income and over 1 billion USD in penalties imposed by regulators, with JP Morgan putting aside a further 23 billion to pay for related potential legal bills to come. On July 13 th 2012, JP Morgan announced a loss of 5.8 billion USD as a result of fraudulent activity taking place, ironically, in a unit aimed in reducing risk. The authors have declared that no competing interests exist. This does not alter the authors' adherence to PLOS ONE policies on sharing data and materials.

The specific roles of these authors are articulated in the 'author contributions' section.Д¬ompeting interests: CE and NA are partially and fully employed, respectively, by Systemic Consult Ltd, a commercial consultancy in the risk industry. Systemic Consult Ltd provided support in the form of salaries for authors CE and NA, but did not have any additional role in the study design, data collection and analysis, decision to publish, or preparation of the manuscript. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.Дata Availability: All relevant data are within the paper and its Supporting Information files.ДЇunding: CE was partially funded by the Engineering and Physical Sciences Research Council (EPSRC), UK ( ) under the grant EP/G037353/1, an EPSRC Doctoral Prize fellowship and Systemic Consult Ltd ( ). Received: JanuAccepted: JPublished: June 30, 2017Д¬opyright: В© 2017 Ellinas et al. PLoS ONE 12(6):Д®ditor: Renaud Lambiotte, Universite de Namur, BELGIUM As a result, we illustrate that: (i) an organization may appear to be increasingly coherent in terms of its organizational culture, yet be composed of individuals with reduced levels of coherence (ii) the components of social conformity-peer-pressure and social rank-are influential at different aggregation levels.Д¬itation: Ellinas C, Allan N, Johansson A (2017) Dynamics of organizational culture: Individual beliefs vs.

In this spirit, this work introduces an empirically-grounded, agent-based model which relaxes a set of assumptions that describes past workвЂ“(a) omittance of an individualвЂ™s strive for achieving cognitive coherence (b) limited integration of important contextual factors-by utilizing networks of beliefs and incorporating social rank into the dynamics. Recent computational studies have adopted a distinctly different view, where plausible mechanisms are proposed to describe a wide range of social phenomena, including the onset and evolution of organizational culture. The complex nature of organizational culture challenges our ability to infer its underlying dynamics from observational studies.

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