Enterprise Risk Management

Abstract

The authors investigate strategic measures companies adopt to combat and manage risks in order to survive and grow in an unstable economic environment. Based on in-depth interviews with senior staff from six Hong Kong-based successful enterprises in the textile and clothing industry, they find that companies have adopted various enterprise-wide, holistic, and integrative approaches to effectively address and manage risks. Also found was that the use of a formal approach to manage risks by a company at a different stage of the Enterprise Risk Management (ERM) maturity continuum is affected by its size, scope of operations, and legal structure. The findings from this study enhance the understanding of the relationship between organization structure and risk management.

Unleashing the power of manufacturing flexibility: enhancing performance in Bangladesh's ready-made garment industry

“…Today, ready-made garment (RMG) industries are operating in the most unpredictable, dynamic and fiercely competitive environment (Moon et al, 2014) among all the participants in the apparel supply chain. These business environment conditions are known as environmental uncertainty (EU), which arises from different groups (clients, suppliers, competitors, technical advancements, governmental laws and the company itself) within business units.…”

“…This study aims to address this issue by concentrating on Bangladesh's RMG industries, a sector with high labor intensity in an emerging economy. These industries are usually downstream-driven (Alam and Natsuda, 2016) and upstream-dependent (Akter, 2019) in their supply chain and dealing with fast-changing markets under a high level of competition (Moon et al, 2014) which require a high-variety of low-volume products (Ye et al, 2021;Moin et al, 2020). A study (Taqi et al, 2020) revealed that, even in the COVID-19 pandemic circumstance, MF is the most important and influential strategy out of 22 strategies for RMG companies.…”

“…Today, ready-made garment (RMG) industries are operating in the most unpredictable, dynamic and fiercely competitive environment (Moon et al. , 2014) among all the participants in the apparel supply chain.…”

An Empirical Study on the Manufacturing Firm’s Strategic Choice for Sustainability in SMEs

“…These changes are great risks to firms. Fast-changing markets feature both high-level competition and numerous uncertainties and operate in an unstable environment [1]. Every firm should produce new high-quality products and services at a low price for survival and sustainability.…”

Risk Management Process on the Property Development of NUSA DUA Resort Bali Indonesia

“…Integrated risk management is a process by which various risks are identified, measured, and controlled throughout an organization or company. Through integrated risk management, [4] In the process of property development, it is necessary to refer to the opinion which states that vulnerability is a system characteristic that will create the possibility of the influence of damage, danger and failure, [5]. Vulnerability is a system that functions as control and management.…”