The Impact of Total Risk Management on Company's Performance

Mohammed, Hamdu Kedir; Knápková, Adriana

doi:10.1016/j.sbspro.2016.05.499

Cited by 65 publications

(58 citation statements)

References 6 publications

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“…The possible impact of risk management on company performance was mentioned and described in the chapter [3]. The author of this chapter introduced and confirmed that "an effective and integrated risk management system must improve the performance of the…”

Section: Performance and Risk Managementmentioning

confidence: 88%

Risk Management to Enhance Performance in the Construction SME Sector; Theory and Case Study

Šimota¹,

Tupa²,

Steiner³

2018

Risk Management Treatise for Engineering Practitioners

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Dynamic changes and increasing competition in global markets have caused changes in the management of small and medium enterprises (SMEs). Due to this fact, many SME companies try to implement different methods for strategy and operation management, quality and improvement management, risk management, etc. But the problem is the efficiency and implementation of these methods in the SME company. One way to achieve higher efficiency is the integration of management methods, meaning the combination of performance management with quality, process and risk management. This approach is also recommended in the ISO standards for quality. It was reflected in a new revision of the ISO 9001 standards in the year 2015. Performance can be described by the financial and non-financial key performance indicators (KPI), covering the cost, quality and time indicators that have been implemented in the balanced scorecard framework (BSC). The aim of this chapter is to present a methodological framework, which leads to the integration of the key performance indicators (KPI) in relation to the key risk indicators (KRI), which may affect the KPIs and overall SME performance. This framework combines a process analysis and modelling with risk and qualitative or quantitative risk assessment techniques. The case study describes its practical implementation and the verification of the designed framework. The results of this research will help to build an effective management system for performance and risk management and quality management for the business processes of SMEs.

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Section: Performance and Risk Managementmentioning

confidence: 88%

Risk Management to Enhance Performance in the Construction SME Sector; Theory and Case Study

Šimota¹,

Tupa²,

Steiner³

2018

Risk Management Treatise for Engineering Practitioners

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“…The literature also notes the relationship between risk management and company performance. The research conducted by Mohammed and Knapkova (2016) shows that there is a positive and significant correlation between risk management and financial results. Therefore, the authors point out that enterprises should perceive risk management not only from the perspective of defence, but also as a key success factor to ensure stable earnings and improves the overall condition of the enterprise.…”

Section: Literature Reviewmentioning

confidence: 99%

The attitudes of entrepreneurs of the small and medium-sized enterprises sector in Poland to key business risks

Dankiewicz

Ostrowska-Dankiewicz

Bulut

2020

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Research background: The risk management process is a key element in running a business. Moreover, it is basically one of the basic and most important internal processes in any company, regardless of its size. However, due to the extremely important role played by small and medium-sized enterprises in the economy, the problem of proper management of endogenous and exogenous risks becomes particularly important. Purpose of the article: The article aims to show the importance of risk management in the operations of modern enterprises in the SMEs sector and the attitudes of entrepreneurs towards key business risks. Methods: The research was based on data on 332 enterprises from the SMEs sector operating in Poland. The data was collected using the CSAQ method in the period from 12 of November 2019 to 9 of March 2020. The distribution of risk assessment in the studies was analysed using Tau Kendall statistics, while the risk management index was created by examining the attitudes of entrepreneurs towards individual risk factors. Findings & Value added: The results of the survey showed that three-quarters of enterprises did not manage risk in a formalized way and that decision-makers in enterprises often paid too little attention to the issues related to managing different types of risk. The article should, therefore, draw the attention of managers to the need to build appropriate procedures to enable effective risk management that creates opportunities for the safe operation of the enterprise. The added value of the work is a detailed analysis of the management of individual types of endogenous and exogenous risks, as well as an indication of what features of enterprises affect the effectiveness of actions taken in the field of controlling these risks. Research is valuable because of the small amount of studies that links managers' approaches to risk management with actual risk management effectiveness.

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“…3 Overall, the preceding discussion asserts that CSR enables firms to develop ERM. Past research has also shown that ERM enhances firm performance (Florio & Leoni, 2017;Hoyt & Liebenberg, 2011;Mohammed & Knapkova, 2016). Recently, academicians and practitioners have started paying increasing attention to examining the impact of overall risk on firm performance.…”

Section: Csr Erm and Firm Performancementioning

confidence: 99%

“…Following the previous literature, control variables included in this study are firm size (FS), financial leverage (FL), board independence (BI), board size (BS), and sales growth (SG; Florio & Leoni, 2017;Harjoto & Laksmana, 2018;Mohammed & Knapkova, 2016;Reverte et al, 2016). Table 2 appended below describes dependent, independent, and control variables in detail.…”

Section: Control Variablesmentioning

confidence: 99%

Corporate social responsibility engagement and firm performance in Asia Pacific: The role of enterprise risk management

Naseem

Shahzad

Asim

et al. 2019

Corp Soc Responsibility Env

119

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We examine a channel through which corporate social responsibly affects firm performance. More specifically, we modeled the mediating role of enterprise risk management between corporate social responsibility and firm performance. We use the weighted average of environmental, social, and governance scores (as a proxy of corporate social responsibility) extracted from DataStream of Thomson Reuters‐ASSET4. Drawing on the stakeholder theory and using a large sample of 1021 Asia Pacific firms throughout 2006–2016, we show that corporate social responsibly is positively associated with firm performance. Our results suggest that corporate social responsibly is linked to enterprise risk management. However, the effect of corporate social responsibly on firm performance is both direct and indirect. We provide evidence that enterprise risk management partially mediates the relationship between corporate social responsibility and firm performance. We account for the issue of endogeneity and use alternative measures of firm performance for a robustness check. The findings offer important implications of socially responsible business processes through leveraging on the significance of enterprise risk management.

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The Impact of Total Risk Management on Company's Performance

Cited by 65 publications

References 6 publications

Risk Management to Enhance Performance in the Construction SME Sector; Theory and Case Study

Risk Management to Enhance Performance in the Construction SME Sector; Theory and Case Study

The attitudes of entrepreneurs of the small and medium-sized enterprises sector in Poland to key business risks

Corporate social responsibility engagement and firm performance in Asia Pacific: The role of enterprise risk management

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