An introduction to the Enterprise Risk Scorecard

Calandro, Joseph; Lane, Scott

doi:10.1108/13683040610685775

Cited by 31 publications

(31 citation statements)

References 15 publications

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“…ERM has been found to be positively related to firm performance (Calandro & Lane, 2006;Gordon et al, 2009;Hoyt & Liebenberg, 2011;Callahan & Soileau, 2017;Florio & Leoni, 2017). However, previous studies have focused solely on financial performance (Bartram, 2000;Gordon et al, 2009;Hoyt & Liebenberg, 2011;Quon et al, 2012) rather than on both financial and non-financial performance (Calandro & Lane, 2006;Callahan & Soileau, 2017) because it is easier to compare financial performance calculated to satisfy shareholders', investors', and creditors' requirements. In addition, the reporting of financial performance is a mandatory practice required by law.…”

Section: Introductionmentioning

confidence: 99%

The Influence of Enterprise Risk Management on Firm Performance Measured by the Balanced Scorecard: Evidence from SMEs in Southern Thailand

Suttipun¹,

Siripong²,

Sattayarak³

et al. 2019

CMUJASR

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Even though enterprise risk management (ERM) has been extensively studied in recent years, the influence of ERM on firm performance in small and medium enterprises (SMEs) and its benefits to them has been little studied in emerging countries. Therefore, the main objectives of the study reported were to (1) investigate the extent and level of ERM among SMEs in southern Thailand, and (2) test for the influence of ERM on firm performance measured by the balanced scorecard (BSC) of SMEs. Using a mailed questionnaire, a sample of 385 (out of 394) SMEs from southern Thailand were analyzed. Descriptive analysis, a correlation matrix, and multiple regression were used to analyze the data obtained. From the results, the most common element of ERM employed was information and communication followed by control activities, monitoring, risk response, internal environment, event identification, objective setting, and risk assessment. Moreover, objective setting, risk assessment, control activities, and monitoring were found to significantly and positively influence SMEs' performance measured by BSC while event identification had a negative influence on SMEs' performance. The study demonstrates that SMEs in developing countries can benefit from the adoption of ERM in the same way as large firms in developed countries.

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Section: Introductionmentioning

confidence: 99%

The Influence of Enterprise Risk Management on Firm Performance Measured by the Balanced Scorecard: Evidence from SMEs in Southern Thailand

Suttipun¹,

Siripong²,

Sattayarak³

et al. 2019

CMUJASR

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“…This is particularly relevant for budgeting, which has always been subject to the search for better ways of predicting risks and reducing uncertainty (e.g., Lewis, 1952;Greer, 1954;Hofstede, 1967;Holthausen and Assmus, 1982). There is, in fact, a growing body of literature that highlights the importance of integrating risk with the process of budgeting: some authors have focused on the integration of risk with budget documents and processes (Collier and Berry, 2002); other authors have proposed new integrated tools such as risk scorecards (Scholey, 2006;Calandro and Lane, 2006), key risk indicators (Scandizzo, 2005;Lam, 2006), and risk-based approaches for cost evaluation (Juras, 2007); other authors have instead discussed the need to integrate the risk management process and the planning process while also indicating normative guidelines for integration (McWhorter et al, 2006;Beasley et al, 2006;Beasley and Frigo, 2007). Finally, Collier et al (2007) have offered empirical evidence of current practices, with a survey of organisations in the UK.…”

Section: Information That Explicitly Deals With Riskmentioning

confidence: 97%

Risk and budget in an uncertain world

Arena

Arnaboldi

2013

IJBPM

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The ability of a company to deal with uncertainty and turbulence is an issue which has attracted increasing attention in recent years, due to the negative effects of the financial crisis. In this context, the paper has the aim of exploring whether the consideration of risk in a budgeting process contributes to improve its effectiveness. To this aim, the paper analyses two potentially beneficial approaches to deal with uncertainty: the integration of information concerning risk and the use of non-financial indicators and benchmarking as early warning systems. On the basis of a survey of the largest companies in Italy (with a response rate of 41.5%), the paper shows that the effectiveness of the budgeting process increases when: 1) managers are required to produce a risk map; 2) dashboards and balanced scorecards are used in relation to the budgeting process. These results suggest the potential usefulness of integrating risk and non-financial information in budgeting, in which financial accounting information is, at present, still prevalent.Reference to this paper should be made as follows: Arena, M. and Arnaboldi, M. (2013) 'Risk and budget in an uncertain world', Int.

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“…Reference [25] introduces the concept of an Enterprise Risk Scorecard. They designing a risk scorecard based on Kaplan and Norton's BSC.…”

Section: Related Literature Overviewmentioning

confidence: 99%

Associating risk management with a performance measurement system: Case of academic libraries

Chabchoub¹,

Hachicha

2014

2014 International Conference on Advanced Logistics and Transport (ICALT)

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Risk management and performance measurement should be linked together to enable, to each supply chain partner, to define and guide its overall risk profile, as well as to shape its strategic direction. In this frame, the aim of this paper is to propose and to validate an integrated approach for relating risk management into supply chain performance measurement system. The proposed approach is carried out in two sequential phases. After identifying flow, missions and goals of an organization, the first phase focuses on the application of the Supply chain operations reference (SCOR) model and the Activity Breakdown Structure (ABS) to identify supply chain processes and activities. After that, Risk Breakdown Structure (RBS) and Risk Breakdown Matrix (RBM) are applied to identify critical risks and to give a set of performance metrics that is based on those risks. Finally, the second phase completes this set by using the Balanced Scorecard (BSC) framework. For a validation purpose, the proposed approach is applied to the Higher Institute of Industrial Management (ISGI, Sfax-Tunisia) library. A comparative analysis between the identified metrics and those required by the standard ISO 11620 (version 2008) shows the significance and the importance of the proposed approach.

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An introduction to the Enterprise Risk Scorecard

Cited by 31 publications

References 15 publications

The Influence of Enterprise Risk Management on Firm Performance Measured by the Balanced Scorecard: Evidence from SMEs in Southern Thailand

The Influence of Enterprise Risk Management on Firm Performance Measured by the Balanced Scorecard: Evidence from SMEs in Southern Thailand

Risk and budget in an uncertain world

Associating risk management with a performance measurement system: Case of academic libraries

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