Development and implementation of a business continuity management risk index.

Science.gov (United States)

Kadar, Michael

This paper will present the building blocks for developing and implementing the BCM risk index; whether it is used as a comprehensive metric for risk or preparedness. This paper introduces the concept of a business continuity management (BCM) risk index--a comprehensive metric that measures and reports the status of the primary 'intended outcome' of the BCM programme to top management. In addition to measuring the primary programme output,;the BCM risk index can be used to demonstrate the overall value of the BCM programme to executive management. This is accomplished because the BCM risk index allows quantitative measurement of current risk levels and their comparison with established risk tolerances. The BCM Risk Index can provide executive management with reports on the risk level of individual business units, departments, subsidiaries or the enterprise in a way that drives both risk management and BCM initiatives. The name 'risk index' can be misleading, however. The BCM risk index concept can also be used to measure preparedness levels. In fact, implementation at DTE Energy has resulted in calling it the 'preparedness index', which is used to measure and report preparedness levels rather than risk levels.

Scenario logic and probabilistic management of risk in business and engineering

CERN Document Server

Solojentsev, E D

2005-01-01

In this volume the methodological aspects of the scenario logic and probabilistic (LP) non-success risk management are considered. The theoretical bases of scenario non-success risk LP-management in business and engineering are also stated. Methods and algorithms for the scenario risk LP-management in problems of classification, investment and effectiveness are described. Risk LP- models and results of numerical investigations for credit risks, risk of frauds, security portfolio risk, risk of quality, accuracy, and risk in multi-stage systems reliability are given. In addition, a rather large number of new problems of estimation, analysis and management of risk are considered. Software for risk problems based on LP-methods, LP-theory, and GIE are described too. Audience This volume is intended for experts and scientists in the area of the risk in business and engineering, in problems of classification, investment and effectiveness, and post-graduates in those subject areas.

Risk Management for Ag Families: An Extension Model for Improving Family Business Success

OpenAIRE

Bastian, Christopher T.; Nagler, Amy M.; Hewlett, John P.; Weigel, Randolph R.

2006-01-01

A risky business environment for agricultural producers coupled with human risk elements unique to family businesses, points to the need for extension programs that integrate traditional risk management concepts into curriculums focused on the potentially unique educational needs of family farm management teams. Results in this paper indicate that a multi-state, grant funded program entitled "Risk Management for Ag Families" had impact and provides a model that traditional risk management edu...

Improving Operational Risk Management Using Business Performance Management Technologies

Directory of Open Access Journals (Sweden)

Bram Pieket Weeserik

2018-02-01

Full Text Available Operational Risk Management (ORM comprises the continuous management of risks resulting from: human actions, internal processes, systems, and external events. With increasing requirements, complexity and a growing volume of risks, information systems provide benefits for integrating risk management activities and optimizing performance. Business Performance Management (BPM technologies are believed to provide a solution for effective Operational Risk Management by offering several combined technologies including: work flow, data warehousing, (advanced analytics, reporting and dashboards. BPM technologies can be integrated with an organization’s Planning & Control cycle and related to strategic objectives. This manuscript aims to show how ORM can benefit from BPM technologies via the development and practical validation of a new maturity model. The B4ORM maturity model was developed following the Design Science Research approach. The maturity model relates specific maturity levels of ORM processes with BPM technologies applicable for a specific maturity stage. There appears to be a strong relationship (0.78 with ORM process maturity and supporting BPM technologies. The B4ORM maturity model as described in this manuscript provides an ideal path of BPM technologies related to six distinctive stages of ORM, leading towards technologies suitable for continuous improvement of ORM processes and organization-wide integration.

Climate Change Risk Management Consulting: The opportunity for an independent business practice

Science.gov (United States)

Ciccozzi, R.

2009-04-01

The Paper outlines the main questions to be addressed with reference to the actual demand of climate change risk management consulting, in the financial services. Moreover, the Project shall also try to investigate if the Catastrophe Modelling Industry can start and manage a business practice specialised on climate change risk exposures. In this context, the Paper aims at testing the possibility to build a sound business case, based upon typical MBA course analysis tools, such as PEST(LE), SWOT, etc. Specific references to the tools to be used and to other contribution from academic literature and general documentation are also discussed in the body of the Paper and listed at the end. The analysis shall also focus on the core competencies required for an independent climate change risk management consulting business practice, with the purpose to outline a valid definition of how to achieve competitive advantage in climate change risk management consulting.

Business Process Risk Management, Compliance and Internal Control: A Research Agenda

DEFF Research Database (Denmark)

Rikhardsson, Pall M.; Best, Peter; Green, Peter

(COSO). Based on an inductive methodological approach using literature review and interviews with managers engaged in risk management and internal control projects, this paper identifies three main areas that currently have management attention. These are business process risk management, compliance......Integration of risk management and management control is emerging as an important area in the wake of the Sarbanes-Oxley Act and with ongoing development of frameworks such as the Enterprise Risk Management (ERM) framework from the Committee of Sponsoring Organizations of the Treadway Commission...... management and internal control development. This paper discusses these areas and identifies a series of research questions regarding these critical issues....

The Influence Of Business Process And Risk Management On The Quality Of Accounting Information System

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Azhar Susanto

2017-09-01

Full Text Available Business process and risk management are factors which can improve the quality of accounting information systems. In Indonesia this phenomenon happens in many organizations showing that there is disintegrated accounting information systems which then causes unqualified accounting information. This research was carried out in order to find out fact through examination presenting in the influence of business process and risk management towards accounting information system. Data used in this research were gained through survey by distributing questionnaires to company in indonesia. The data were then managed statistically by applying SEM PLS. Research method used was explanatory research. The result of this study shows that the problem in inqualified accounting information system occurs due to the business process and risk management is not entirely good as expected.

Proposal to introduce Disaster Risk Management topics in Master programs in ESAN Graduate School of Business

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CECILIA DEJO ESTEVES

Full Text Available This paper aims to explain and present a proposal to introduce Disaster Risk Management (DRM topics into ESAN Graduate School of Business Master's programs. Although disasters have cost Peru more than USD 7,600 million in the past 2 decades the business sector, particularly Small and Medium Enterprises, have not developed preventive or continuity plans mainly because they are not familiar with DRM topics. Taking this into consideration, the paper presents a detailed academic/curricular proposal for DRM topics such as business continuity, business ethics, corporate social responsibility, and sustainable management. Additionally, it introduces the idea of promoting Disaster Risk Management (DRM topics to the Peruvian business community as a strategy to enhance the graduate education.

Cyber crime: can a standard risk analysis help in the challenges facing business continuity managers?

Science.gov (United States)

Vande Putte, Danny; Verhelst, Marc

Risk management has never been easy. Finding efficient mitigating measures is not always straightforward. Finding measures for cyber crime, however, is a really huge challenge because cyber threats are changing all the time. As the sophistication of these threats is growing, their impact increases. Moreover, society and its economy have become increasingly dependent on information and communication technologies. Standard risk analysis methodologies will help to score the cyber risk and to place it in the risk tolerance matrix. This will allow business continuity managers to figure out if there is still a gap with the maximum tolerable outage for time-critical business processes and if extra business continuity measures are necessary to fill the gap.

The Influence Of Business Process And Risk Management On The Quality Of Accounting Information System

OpenAIRE

Azhar Susanto

2017-01-01

Business process and risk management are factors which can improve the quality of accounting information systems. In Indonesia this phenomenon happens in many organizations showing that there is disintegrated accounting information systems which then causes unqualified accounting information. This research was carried out in order to find out fact through examination presenting in the influence of business process and risk management towards accounting information system. Data used in this re...

Mainstreaming Disaster Risk Management into Management Education: Case of the Mona School of Business & Management

Directory of Open Access Journals (Sweden)

INDIANNA MINTO-COY

Full Text Available The purpose of this paper is to provide a background to and guide for mainstreaming Disaster Risk Management (DRM into higher education and training institutions in Small Island Developing States (SIDS, with the aim of increasing awareness and understanding of the complexity of DRM issues in business and management, based on their general and specific vulnerabilities. SIDS are considered a special category within the discussion on DRM, given a number of vulnerabilities generally and specifically. Furthermore, little attention has been paid to the business impact of disasters in such settings. It is proposed that one major route to improving this situation is through the educational and training institutions, which play a major role in shaping thinking and practices in such settings.

Curriculum for undergraduate business management students:The ...

African Journals Online (AJOL)

curricula for undergraduate business management degrees. The business management areas investigated were: general management, marketing management, financial management, risk management, human resource management and entrepreneurship. The nominal group technique was used, with between six

BUSINESS RISK MANAGEMENT AND ENVIRONMENTAL COMPLIANCE: A REVIEW OF SHELL OIL SPILLS IN SYDNEY HARBOUR AUSTRALIA

Directory of Open Access Journals (Sweden)

Ika Putri Larasati

2011-10-01

Full Text Available A business risk has been an inherent part of companies’ activities nowadays. It relates to threats and opportunities which make a majority of companies manage the risk. The business risk also has been concerned by public particularly in term of environmental risk. A failure to manage the environment may result in negative reactions from public. The negative reactions are predicaments for company’s economy. Therefore, companies have also considered the significance of the environmental risk management. An example of these companies is Shell Oil Company which suffered environmental issue in 1999. Accordingly, this paper aims to evaluate the risk management conducted by the Shell Company which focuses on company’s effort to maintain good relationship with stakeholders in its environmental risk management. There were determinant factors in the successful risk management. The first factor is an efficient and effective implementation of risk management cycle. Secondly, a practice of risk management phase. The third factor is effective social activities. The fourth factor is a significance of risk management application since the establishment of company. The fifth factor is an importance of efficient and effective communication with stakeholders. Finally, a substantial contribution from media is prominent aspect in company’s risk management.

A call for the need to incorporate enterprise risk management as part of the overall business model innovation process

DEFF Research Database (Denmark)

Taran, Yariv; Boer, Harry; Lindgren, Peter

2009-01-01

Relative to, for example, radical product innovation process, little isknown about business model innovation, let alone the process of managingthe risks involved in that process. Using the emerging Enterprise RiskManagement (ERM) literature, an approach is proposed through whichrisk management can...... be embedded in the business model innovationprocess. The integrated risk management/business model innovationprocess model has been tested through an action research study in aDanish company. The results are promising and warrant continuation ofthe development of that model....

Business risks, functions, methods of assessment and ways to reduce risk

Directory of Open Access Journals (Sweden)

A.V. Mihalchuk

2015-06-01

Full Text Available For successful existence in a market economy entrepreneur have to take bold actions, and this increases the risk. The article describes the concept of entrepreneurship and business risk, positive and negative aspects of functions of risk in business. Therefore, it is necessary to assess the risk properly and be able to manage it to achieve the most effective results in the market. In market conditions the problem of assessing and accounting market becomes independent theoretical and practical significance as an important component of the theory and practice of management. Risk - a key element of business activities. Development of risk situations can lead to both the occurrence of adverse effects (losses, lost profits, and positive results for a company in the form of increased profit. This article describes: the concept of entrepreneurship, risk and business risks, characteristic of positive and negative aspects of risk functions in business, methods of assessment and risk reduction, shows formulae and examples you can use to assess risk in an enterprise. Analyzing already established methods of risk assessment a number of rules were proposed in order to reduce business risk.

Role and features of the risk management activities of small businesses in the Northern territories

Directory of Open Access Journals (Sweden)

Alieva Dinara Rizvanovna

2015-07-01

Full Text Available The article provides data on the state of small businesses in Russia and in the Tyumen region, in particular, which showed a slight contribution of small business in GDP of Russia, that is a threat to the economic security of the country, especially due to adverse conditions in the international arena in the form of sanctions and the fall of oil prices, which is reflected in dohodah in the budget Northern oil areas and, in General, countries. The situation is urgent, small business development, especially in the Northern regions. For this purpose it is necessary to highlight the risk factors of small sector in the North, which hinder its development. In article built rating risk factors in order to identify priority risk is the risk of a shortage of funds. To manage this risk, the author proposes to use the economic theory of the law of diminishing returns, which allows you to apply risk management techniques to the point where the maximum return in form of effect from the method. Further, its use is impractical. This approach saves money for small enterprises, which is important due to the shortage of financing for small businesses.

Managing cybersecurity risk how directors and corporate officers can protect their businesses

CERN Document Server

Reuvid, Jonathan

2016-01-01

Managing Cybersecurity Risk aims to provide a better understanding of the extent and scale of the potential damage that breaches of cyber security could cause their businesses and to guide senior management in the selection of the appropriate IT strategies, tools, training and staffing necessary for prevention, protection and response.

Recent Development in Big Data Analytics for Business Operations and Risk Management.

Science.gov (United States)

Choi, Tsan-Ming; Chan, Hing Kai; Yue, Xiaohang

2017-01-01

"Big data" is an emerging topic and has attracted the attention of many researchers and practitioners in industrial systems engineering and cybernetics. Big data analytics would definitely lead to valuable knowledge for many organizations. Business operations and risk management can be a beneficiary as there are many data collection channels in the related industrial systems (e.g., wireless sensor networks, Internet-based systems, etc.). Big data research, however, is still in its infancy. Its focus is rather unclear and related studies are not well amalgamated. This paper aims to present the challenges and opportunities of big data analytics in this unique application domain. Technological development and advances for industrial-based business systems, reliability and security of industrial systems, and their operational risk management are examined. Important areas for future research are also discussed and revealed.

On the Risk Management and Auditing of SOA Based Business Processes

Science.gov (United States)

Orriens, Bart; Heuvel, Willem-Jan V./D.; Papazoglou, Mike

SOA-enabled business processes stretch across many cooperating and coordinated systems, possibly crossing organizational boundaries, and technologies like XML and Web services are used for making system-to-system interactions commonplace. Business processes form the foundation for all organizations, and as such, are impacted by industry regulations. This requires organizations to review their business processes and ensure that they meet the compliance standards set forth in legislation. In this paper we sketch a SOA-based service risk management and auditing methodology including a compliance enforcement and verification system that assures verifiable business process compliance. This is done on the basis of a knowledge-based system that allows integration of internal control systems into business processes conform pre-defined compliance rules, monitor both the normal process behavior and those of the control systems during process execution, and log these behaviors to facilitate retrospective auditing.

MAINSTREAMING RISK MANAGEMENT IN THE SERVICES SECTOR (on the example of restaurant and hotel business

Directory of Open Access Journals (Sweden)

E. Sh. Kachalova

2012-01-01

Full Text Available The article examines the vital issues of and regulation risk in restraurants and hotels of Russia. The author reveals the economic essence of the concept of «risk» in relation to the restaurant and hospitality industry and with the problems of risk management in the RSL. Methodologicalapproaches for the efficient management of risk in restaurant and hotel business.

Psychosocial Risks: Is Risk Management Strategic Enough in Business and Policy Making?

Science.gov (United States)

Langenhan, Melissa K.; Leka, Stavroula; Jain, Aditya

2013-01-01

Background In times of continuous change and volatile markets, organizations are increasingly characterized by downsizing, work intensification, and resource rationalization. This has resulted in diversification, and the emergence of new risks within the field of occupational health and safety, with an important impact. This paper focuses on one such type of risk in the modern workplace—psychosocial risks. The current study aimed to explore stakeholder perspectives, regarding the extent to which psychosocial risks are incorporated into strategic risk management practices, at both the business and policy level. Methods Semi-structured interviews were conducted with 14 professionals, representing employer, expert, policy maker, and trade union stakeholder perspectives. Results It was found that the majority of organizations do not sufficiently, if at all, understand and incorporate psychosocial risks into strategic decision making, whereby the key barrier related to practical difficulties of not knowing how to manage psychosocial risks adequately. Conclusion The study found that there is a need to close the gap between policy and practice on a number of levels. Future recommendations comprise a policy framework and infrastructure underpinned by educational initiatives, partnerships, and networks to drive a shift in attitudes toward recognizing the duality of the concept of risk (including both potential negative and positive outcomes) and moving beyond simple regulatory compliance. PMID:23961331

Psychosocial risks: is risk management strategic enough in business and policy making?

Science.gov (United States)

Langenhan, Melissa K; Leka, Stavroula; Jain, Aditya

2013-06-01

In times of continuous change and volatile markets, organizations are increasingly characterized by downsizing, work intensification, and resource rationalization. This has resulted in diversification, and the emergence of new risks within the field of occupational health and safety, with an important impact. This paper focuses on one such type of risk in the modern workplace-psychosocial risks. The current study aimed to explore stakeholder perspectives, regarding the extent to which psychosocial risks are incorporated into strategic risk management practices, at both the business and policy level. Semi-structured interviews were conducted with 14 professionals, representing employer, expert, policy maker, and trade union stakeholder perspectives. It was found that the majority of organizations do not sufficiently, if at all, understand and incorporate psychosocial risks into strategic decision making, whereby the key barrier related to practical difficulties of not knowing how to manage psychosocial risks adequately. The study found that there is a need to close the gap between policy and practice on a number of levels. Future recommendations comprise a policy framework and infrastructure underpinned by educational initiatives, partnerships, and networks to drive a shift in attitudes toward recognizing the duality of the concept of risk (including both potential negative and positive outcomes) and moving beyond simple regulatory compliance.

Navigating Risk When Entering and Participating in a Business Ecosystem

Directory of Open Access Journals (Sweden)

Derek Smith

2013-05-01

Full Text Available Entrepreneurs typically have limited resources during the start-up phase of a business. Business ecosystems are a strategy for entrepreneurs to access and exchange many different aspects of value, resources, and benefits. However, there may be business risks for entering a particular type of ecosystem, and further risks may be encountered after entering and participating in a business ecosystem. These risks are significant and can inhibit a startup's growth. In this article, the literature on business ecosystems is reviewed as it relates to risk to discover insights of relevance to entrepreneurs, top management teams, and business-ecosystem operators. First, the published research is organized into two streams: i risks relating to categories of business ecosystems, and ii risks relating to participating in business ecosystems. Then, the problem is abstracted to develop a potential strategy for managing these risks, which features a pre-entry inspection followed by real-time resource management. Finally, five recommendations are offered for entrepreneurs seeking to enter and participate in business ecosystems.

Internal risks of factoring business: identification, cause-effect relationships, accounting and management aspects

Directory of Open Access Journals (Sweden)

I.M. Vygivska

2017-12-01

Full Text Available The article identifies the risks of the economic activity of a factoring company. The identified risks are divided into internal (fraud risk, credit risk, liquidity, nonpayment, staff, supplier's failure to meet the terms of the supply / factoring contract and external (legal, inflation, currency, interest, industry risks, country risk. The cause-effect relationships of the identified risks have been established. The content of information requests of the leading part of the factoring company, as well as the management subsystems (accounting, economic analysis, control and planning, and the direction of information flows between them (to manage the company's internal risks is determined. These proposals contribute to the improvement of accounting and analytical support for risk management of the factoring business, the choice of alternative risk management methods, the impact on their possible consequences, minimizing the negative impact of risks on the financial condition of the company, and establishing the effectiveness of factoring operations under risk.

Implementation of Enterprise Risk Management (ERM Framework in Enhancing Business Performances in Oil and Gas Sector

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Sanmugam Annamalah

2018-01-01

Full Text Available This study empirically investigated the ERM Implementation model and proposed framework to identify and manage risks in Oil and Gas Sector in Malaysia. The study examined the role of ERM framework implementation in improving business performance by utilizing Economic Value Added as a measurement tool. The study also provides insights to the Oil and Gas Sector to gain higher profit returns, reduce cost of capital, and improve shareholders value. Moreover, it contributes significantly in the field of Enterprise risk management in Malaysia. The identification and management of risk is significant to organizations in managing risks efficiently. Expectations of stakeholders of the organization are high from executives and board of directors in managing the risk effectively. Linear regression analysis is utilized in analyzing the data obtained from the data collection performed for this paper. Purposive sampling has been employed in order to select the firms that are operating in Malaysian oil and gas sector. Primary data has been utilized to collect data with the help of structured questions and interview techniques that involve semi structured questions. The results of the regression analysis conducted for in this study suggested that a significant and positive relationship between Enterprise Risk Management with operational risk; market risk; political risk; health, safety and environmental risk; and, also business performance.

Managing risk in Asia's oil and gas business

International Nuclear Information System (INIS)

Kramer, M.P.

1998-01-01

The business environment and economic outlook for Asia's energy business was discussed. This paper focused on the risks in Asia's oil and gas business. It was predicted that the economic crisis may deepen in 1998/99 before recovering by 2000 at the earliest. Key risk factors were cited as further currency devaluations, deterioration of the banking sector and social unrest. At the same time, it was also predicted that within 4-6 years, economic growth rates in Asia will be higher than in the rest of the world. Currently, the main risks associated with the energy industry are currency collapse, highly leveraged buyers and sellers, politics, different types of joint venture partners, each type representing a different type of risk, demise of the old networks, reluctance to accept the reality of the economic collapse and to deal with the collapse the only way that may be effective. figs

Risk management in Takaful

OpenAIRE

Akhter, Waheed

2010-01-01

Risk management is of vital importance in Islam and Takāful provides a way to manage risks in business according to Sharī’ah principles. This research paper attempts to identify various types of risks involved in Takāful business that affect operational and investment functions of Takāful operators across the globe. It lays down criteria for Takāful operator to manage those risks effectively. However, Takāful operators often face difficulty in managing market and credit risks as Sharī’ah comp...

THE IMPORTANCE OF EVALUATION OF RISK MANAGEMENT IN BUSINESS

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SLOBODAN POPOVIĆ

2015-10-01

Full Text Available Economies with dominant private ownership and developed market institutions build their prosperity on a firm`s goal function in a form of maximization owner`s wealth. Financial situation of business organization is most important indicate that shows level of financial health. The creation of value for the owners imply two matters simultaneously competitive advantage and the evaluation of economic effects. Among economic activities, establishes the different types of addiction. In this work authors draw attention to two categories: the functional and stochastic. Case studies will be cash flows of investment and the contribution of the stochastic component of the risk of enterprise value. Methodological dominated analytical and descriptive methods. Management in the process of evaluation of investment seen what happens behind the projections of cash flows and estimates of available chances for possible modifications. The purpose of the discussion in this section refers to the warning that the application of the rules of net present values does not mean the completion of the management process at the moment of the decision on the selection of investments. In this study, we analyze the influence of stochastic risk in the creation of enterprise value, especially if the risk is managed improperly. In this connection, the starting hypothesis is that adequately compensate for risk has a positive effect on new investments and reduce the antagonism of shareholders and other creditors of the company.

Using information technology governance, risk management and compliance (GRC as a creator of business values – a case study

Directory of Open Access Journals (Sweden)

Sam Lubbe

2011-08-01

Full Text Available The relationship between Information Technology (IT Governance, Risk Management and Compliance (GRC and organisation business values continues to interest academics and practitioners (IT Governance Institute, 2003. Like governance, risk management and compliance generally, IT GRC is about the decision rights and accountabilities that encourage desirable behaviour in the use of IT (IT Governance Institute, 2003. A case study approach was used in an organisation with many business units. The organisation selected is a mining company, RioZim, situated in Zimbabwe. Data was collected from business units on IT issues and business values. The interviews centred on the IT GRC practices based on responsibility and authority for IT decision making. The results suggest that IT GRC does not adequately support business values. The study revealed that business values should drive IT GRC and IT GRC should be the responsibility of executives and all business units.

Supply Cain Risk Management

OpenAIRE

Goodwin, Les

2011-01-01

“The management of supply chain risk is crucial to any business, more so to Rolls Royce who face an almost doubling of load within the next 10 years. So what is supply chain risk management and how well is it deployed within an operational business of Rolls Royce? What are the tools and techniques available and what are the key issues around implementing world class supply chain risk management with a Supply Chain Unit within Rolls Royce?”

Risk management and contingency planning for year 2000 - key business decisions for the success of an organization

International Nuclear Information System (INIS)

McNeil, J.L.

1998-01-01

Factors that transformed Y2K, initially considered as primarily a computer problem, into a business problem are outlined. For example, many organizations have prioritized their inventory of information technology (IT) systems, but few have prioritized their suppliers or customers, or have even thought of what will happen if they cannot get products, or cannot get paid by their customers. Estimates at this time reveal that approximately 30 per cent of businesses will not be operational. This presents a significant risk to any organisation's bottom line. Add to this the status of the world as a whole, where other than about 12 major countries, the majority has not even began to remediate their Y2K problems, and we begin to get a true picture of the potential of major communications problems with subsidiaries, partners or suppliers. Consideration of these factors make it easy to see how Y2K is potentially a major business problem. Because of these risks, it is strongly urged that organizations perform risk management and contingency planning. An example of a risk management approach is presented

Business continuity and risk management at a strategic level: Case study of the Flemish government.

Science.gov (United States)

Bouve, Joris; Steens, Herman-Peter; Ruebens, Martin

2018-01-01

The Flemish government comprises a number of different departments and agencies with the autonomy to optimise their service level in a proactive and resilient manner. Recently, the Flemish government defined four organisational values: openness, decisiveness, trust and agility. In addition, the Internal Audit Agency developed guidelines concerning internal control and organisational management, in which risk management was emphasised. In combination with goal setting and process management, this paper considers risk management as a starting point for the overall management of Flemish government entities. The paper then develops tools to support the establishment of business continuity and risk management processes. These tools fit into the organisation's strategic framework and are easy to understand, pragmatically designed and flexible in their use. The paper goes on to illustrate how the Department of the Chancellery and Public Governance is implementing BCM and risk management, and how it is integrating BCM, risk management and crisis management. It will then focus on the Flemish government's long-term strategy across the boundaries between the different entities and the question of how risk management can become a useful tool for policy makers.

Managing business model innovation risks - lessons for theory and practice

DEFF Research Database (Denmark)

Taran, Yariv; Chester Goduscheit, René; Boer, Harry

2015-01-01

approach, arguing from a “no risk no reward” aphorism, a sloppy implementation approach towards business model innovation may result in catastrophic, sometimes even fatal, consequences to a firm’s core business. Based on four unsuccessful business model innovation experiences, which took place in three...

RISK MANAGEMENT PROCESSES IN SUPPLY CHAINS

Directory of Open Access Journals (Sweden)

Aleksandar Aleksić

2009-06-01

Full Text Available One of the keys of successful business last few years is effective dealing with risks in every meaning of that word. At the time when the world economic crisis largely limits business, successful Risk management is the only way of survival for a large number of business systems. This paper will present the processes of risk management in supply chains that are in accordance with the standards ISO 28000 and ISO 31000. By implementing a holistic, enterprise-wide supply chain risk management program, companies also can uphold their commitment to providing strong corporate governance on behalf of stakeholders and increase their market value.

Different Categories of Business Risk

Directory of Open Access Journals (Sweden)

Simona-Valeria TOMA

2011-11-01

Full Text Available Every business organisation involves some element of risk. Unmitigated risks can result in lost opportunity, financial losses, loss of reputation, or loss of the right to operate in a jurisdiction. Like any other risk type, understanding business risks is quite important for every business to garner profits instead of facing losses. A business risk is a universal risk type; this means that every business in the world faces business risks. Therefore, it is imperative to understand the different categories of business risk in order to create the appropriate strategies. The aim of this paper is to describe the most important categories of business risks and to make sure that every type of risk receives equal treatment and consideration.

Risk management as a social defence against anxiety

Directory of Open Access Journals (Sweden)

Dirk J. Geldenhuys

2012-03-01

Research purpose: The aim of the study is to describe how risk management unconsciously influences behaviour when doing business in an African country. Motivation for the study: Operational risk management is a rational management imperative. However, this does not take cognisance of the unconscious role of risk management. A systems-psychodynamic perspective might be particularly relevant if the anxiety implied in risk management is not appropriately contained. Awareness of these dynamics may provide an opportunity for addressing them and allow for a more holistic way of managing risk. Research design, approach and method: The researchers conducted the study as a qualitative case study in an African country. They used purposive sampling and analysed the data using qualitative content analysis. Main findings: Viewing risk management from a systems-psychodynamic perspective allowed the researchers to identify the influence of risk management on the behaviour of people. The emerging hypothesis was that, if businesses do not address the anxiety underlying risk management, managing risk becomes a social defence against the anxiety. Practical/managerial implications: Awareness of the anxiety involved in risk management may assist businesses to manage risk in a more realistic way, making provision for, and even capitalising on, the human element. Contributions/value-add: The article provides a systems-psychodynamic, and hence a more complete, perspective of operational risk management when doing business in an African country.

Business continuity 2014: From traditional to integrated Business Continuity Management.

Science.gov (United States)

Ee, Henry

As global change continues to generate new challenges and potential threats to businesses, traditional business continuity management (BCM) slowly reveals its limitations and weak points to ensuring 'business resiliency' today. Consequently, BCM professionals also face the challenge of re-evaluating traditional concepts and introducing new strategies and industry best practices. This paper points to why traditional BCM is no longer sufficient in terms of enabling businesses to survive in today's high-risk environment. It also looks into some of the misconceptions about BCM and other stumbling blocks to establishing effective BCM today. Most importantly, however, this paper provides tips based on the Business Continuity Institute's (BCI) Good Practices Guideline (GPG) and the latest international BCM standard ISO 22301 on how to overcome the issues and challenges presented.

Real-time risk monitoring in business processes : a sensor-based approach

NARCIS (Netherlands)

Conforti, R.; La Rosa, M.; Fortino, G.; Hofstede, ter A.H.M.; Recker, J.; Adams, M.

2013-01-01

This article proposes an approach for real-time monitoring of risks in executable business process models. The approach considers risks in all phases of the business process management lifecycle, from process design, where risks are defined on top of process models, through to process diagnosis,

Methods of Financial Risk Management

Directory of Open Access Journals (Sweden)

Korzh Natalia

2016-10-01

Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.

Improving organisational resilience through enterprise security risk management.

Science.gov (United States)

Petruzzi, John; Loyear, Rachelle

Enterprise Security Risk Management (ESRM) is a new philosophy and method of managing security programmes through the use of traditional risk principles. As a philosophy and life cycle, ESRM is focused on creating a business partnership between security practitioners and business leaders to more effectively provide protection against security risks in line with acceptable risk tolerances as defined by business asset owners and stakeholders. This paper explores the basics of the ESRM philosophy and life cycle and also shows how embracing the ESRM philosophy and implementing a risk-based security management model in the business organisation can lead to higher levels of organisational resilience as desired by organisation leaders, executives and the board of directors.

Methods of assessment and management of enterprise risks

Directory of Open Access Journals (Sweden)

I. A. Kiseleva

2017-01-01

Full Text Available The article is devoted to the actual topic of our time – the management of business risks. An integral part of professional risk management is to identify the nature of the object of management in the sphere of economy. Since the domestic theory of risk management is under development, the problem of a clear comprehensive definition of risk becomes now of particular relevance. The article discusses the basic concepts of risk management; studied its components in the business activities; reflected system and risk management principles; The basic types of risks in business. A organizational and economic mechanism of enterprise risk assessment. Practical advice on risk management. Entrepreneurship without risk does not exist. With the development of market economy the specific entrepreneur determines the methods that will work, and they all lead to entrepreneurial risks. The level of threats on the market today, above the level of potential profits. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The lower range of the probability distribution of expected returns relative to its mean value, the lower the risk associated with this operation. Avoid risk in business is almost impossible, but you can reduce this risk. And it depends on how professionally and correctly operates the entrepreneur, what kind of strategy he will choose to reduce the appearance of risk.

Management of Business Transformation to Sustainable Business

OpenAIRE

Grunda, Rokas

2011-01-01

Having examined the concepts of sustainable business and advantages and disadvantages of business sustainability management models, the objective of the dissertation is to formulate a management model of business transformation to sustainable business and to verify it in present business conditions in Lithuania. In the dissertation, the essence of the concepts of sustainable development and sustainability is characterized, the criteria of sustainable society are distinguished and the concept ...

Business model and problem about the radioactive wastes management

International Nuclear Information System (INIS)

Yoshida, Norimasa; Torii, Hiroyuki

2007-01-01

The PFI (Private Finance Initiative) is a new method to construct, maintain and manage public facilities by using private capital, management skills, and technical abilities. This article described business model and related problem for making use of PFI for the management of low-level radioactive wastes produced at reactors and nuclear fuel facilities of research institutes, universities and others. This service projects could provide public services with higher quality while reducing the business costs to the country and the local authority. Social impacts, business models and risks of the projects had been assessed. (T. Tanaka)

Hedging Financial Risks in the Economic Practices of Small Business: Current Imperatives

Directory of Open Access Journals (Sweden)

Kolomiyets Ganna M.

2017-04-01

Full Text Available The article considers the need to update approaches to hedging the financial risks of small businesses. Reducing the probability of financial costs and losses is of continuing relevance. It appears to be especially critical for small businesses. Small business plays a significant role in the country’s economic system as creator of jobs and as a producer of goods and services that adapts quickly to changing consumer requirements. However, its access to credit resources has certain limitations. The instability of the economic environment by individual factors can affect small businesses not less, and sometimes even more than large and medium-sized businesses. Design of the risk-management in terms of small business needs to be updated. In the current context, there is a need in re-evaluating that the efficient financial risk management can only be carried out in a complex of all the enterprise’s risks, with an increase in the planning horizon and the identification of obstacles to achieving the objective set.

IT APPLICATIONS PORTFOLIO MANAGEMENT UNDER BUSINESS AND IMPLEMENTATION UNCERTAINTY

Institute of Scientific and Technical Information of China (English)

Masafumi KOTANI; Junichi IIJIMA

2008-01-01

Corporations need to improve business processes in order to enhance velocity and service levels while reducing their processing costs and differentiating themselves in the face of competition.The levitation of importance beyond support roles has raised IT investment decisions to high priority in chief executive officers'agendas.Corporate planning groups as well as lines of business are increasingly applying techniques of IT applications portfolio management in a more systematic fashion to improve decision-making and resource-allocation processes. Recent advances in software engineering and IT service delivery methodologies have achieved the logical separation of business functions from implementation.This separation has made a new breed of innovative IT project possible with a new project risk structure;the adjustment of portfolio management techniques is appropriate.We present an integrated portfolio management model so that the corporation can focus on organic growth through sources at both the department and top management levels.The research gives clear advice as to how top management can seek economic growth by selecting an entrepreneurial strategic posture,implying a strong risk-taking propensity.By integrating a risk-return model and risk-tolerance paradigm to cope with today's risk structure,overall capabilities can improve the decision process and the corporation's performance as well.The application of the integrated technique to a Japanese manufacturing firm is described.

GENERAL ASPECTS REGARDING THE MANAGEMENT ACTIVITY IN INTERNATIONAL BUSINESS

Directory of Open Access Journals (Sweden)

Mihaela Loredana LĂPĂDUŞI

2010-09-01

Full Text Available The strategy of penetrating and developing the external markets is an important objective of the international enterprises management. This involves a specific analysis of the business environment for illustrating the opportunities of business and risks and the business potential of a particular enterprise in order to establish the internalisation objectives and types. The international management is individualised by the environment where the enterprises develop their economical activity, supposing that the world market of international business involves the access to new markets and the enterprises must adapt to the specific needs and opportunities.

NEW DIMENSIONS OF BENEFITS AND RISKS TO BUSINESSES IN THE EUROPEAN UNION MARKET

Directory of Open Access Journals (Sweden)

Dinu Ana-Maria

2013-07-01

Full Text Available The paper aims to identify the types of risks that a company faces when entering the European Union’s market. Risk may be defined as an uncertain event that may have a negative effect on achieving objectives and risk management can be defined as the process that identifies analyses and accept or mitigate the uncertainty in business decision-making. Well designed and implemented, risk management programs are the source of competitive advantage for businesses in the European Union market and this way the operating costs can be reduced, quality and product reliability can be improved, staff productivity can increase. It is very important for any company to be aware of potential risks as this will help to assess, to prioritise and to protect againt the risks that may arise. Some of the potential risk can destroy a business, while others can cause serious damage that can be costly and time consuming to repair. After the company have identified the risks, they must be prioritized in accordance with the companies assessment of their probability.The European Union expansion is ongoing and it is a major market place .Doing business on international level has always been about managing the unique risks which global markets pose. For many companies that intend to do business in Europe today, the risks are so varied and complicated that a risk management strategy is necessary and must be carefully tuned and revisited on a regular basis. There are many advantages when starting a business in the European Union. When participants and investors enter a new market should remain vigilant about risks.

A manager's guide to ISO22301 a practical guide to developing and implementing a business continuity management system

CERN Document Server

Drewitt, Tony

2013-01-01

A concise and practical guide to the ISO22301 benchmark for business continuity management. Essential reading for all managers, executives and directors with any interest or involvement in operational risk or business continuity management.

Social Risk and the Management of MNCs

DEFF Research Database (Denmark)

Taarup Esbensen, Jacob

2015-01-01

Multinational companies (MNCs) are increasing being exposed to risk that originate from local communities in the business environment where they operate. The response has been to implement systems for stakeholder engagement by including social issues into their risk management systems. However......” systems, which are based on the capability to identify frames and sensemaking processes. This paper show how social risk management can be conventionalised using distinct theoretical domains taking its outset in a sociological perspective on risk, linking International Business (IB) risk management...

THE IMPORTANCE OF CONSULTING IN CONTEMPORARY BUSINESS MANAGEMENT

Directory of Open Access Journals (Sweden)

Svetlana Vukotić

2017-07-01

Full Text Available Modern business is characterized by risk and uncertainty, and such an environment is reflected in the decisions taken by managers. On the other hand, management consulting is one of the most important management techniques developed over the last fifty years. The secondary effect of this invention is the rapid development of new frameworks, tools, and techniques improving the operations in a number of companies. Exposure of consulting organizations to varying combinations of business circumstances and experiences of different companies have allowed for the accumulation of valuable knowledge and business experience. From this coupling, or interaction of knowledge and experience of consulting companies, on the one hand and the needs of management companies to recognize their role and hire consultants, on the other hand, developed the importance of financial consulting and auditing. Rational management processes cannot be imagined without reliable information provided by the audit, especially as the strategic management includes the control phase. The importance and relationship between consulting and management in companies that do business according to modern principles is a central topic of consideration in this paper.

A dynamic process of health risk assessment for business continuity management during the World Exposition Shanghai, China, 2010.

Science.gov (United States)

Sun, Xiaodong; Keim, Mark; Dong, Chen; Mahany, Mollie; Guo, Xiang

2014-01-01

Reports of health issues related to mass gatherings around the world have indicated a potential for public health and medical emergencies to occur on a scale that could place a significant impact on business continuity for national and international organisations. This paper describes a risk assessment process for business continuity management that was performed as part of the planning efforts related to the World Expo 2010 Shanghai China (Expo), the world's largest mass gathering to date. Altogether, 73 million visitors attended the Expo, generating over US$2bn of revenue. During 2008 to 2010, the Shanghai Municipal Center for Disease Control and Prevention performed a dynamic series of four disaster risk assessments before and during the Expo. The purpose of this assessment process was to identify, analyse and evaluate risks for public health security during different stages of the Expo. This paper describes an overview of the novel approach for this multiple and dynamic process of assessment of health security risk for ensuring business continuity.

Risk in International Business

OpenAIRE

Canavan, Deirdre; Sharkey Scott, Pamela

2012-01-01

Risk in international business can stress risk adverse behaviour to counteract foreign market uncertainty or individual entrepreneurial risk taking behaviour dependent on the characteristics of both the business sector and the individual. International business theory would suggest that the perception of risk may differ in situations including where new market entry is incremental, is taken in larger or earlier stages, or indeed whether it may be experienced in a continually fluctuating manne...

Small Business Management. Getting a Small Business Management Education Program Started.

Science.gov (United States)

Minnesota Univ., St. Paul. Dept. of Agricultural Education.

This set of materials was developed to assist with the dissemination of the Minnesota model for small business management education, five sections of information are presented. The first of five sections is on small business management needs assessment and describes a method of determining the number of small businesses that would constitute a…

Business history and risk

OpenAIRE

Terry Gourvish

2003-01-01

CARR, in association with the Centre for Business History, University of Leeds, held a successful workshop on 'Business History and Risk' on 20 February 2002. The workshop, which was sponsored by the ESRC, brought together business historians, economists, accountants and risk analysts to develop an interdisciplinary discussion on understandings of risk by employers, workers and governments in different historical settings.

Performance driven IT management five practical steps to business success

CERN Document Server

Sachs, Ira

2011-01-01

This book argues that the Federal Government needs a new approach to IT management. Introducing a novel five-step process called performance-driven management (PDM), author Ira Sachs explains in detail how to reduce risk on large IT programs and projects. This is an essential tool for all IT and business managers in government and contractors doing business with the government, and it has much useful and actionable information for anyone who is interested in helping their business save money and take on effective, successful practices.

Certification and risk management

International Nuclear Information System (INIS)

Villanueva Fernandez, M.

2015-01-01

Nowadays more organizations are increasingly aware of the importance of properly managing the uncertainty of its activities and build competitive advantages through the identification, assessment and management of risks that they face. Risk management is also an aspect of great importance within the new version of ISO fact it is one of the most innovative and also the most laborious, because an appropriate risk management achieves expected results and customer satisfaction. In conclusion, risk management is a new field of business and can be considered a cross-cutting component for other relevant factors of organizational change management. (Author)

Managing the total cost of risk exposures through risk mapping techniques

International Nuclear Information System (INIS)

Unione, A.J.; Rode, D.M.

1998-01-01

In a competitive power market, power producers are exposed to an increasingly broad spectrum of financial risks. The cumulative impact of these financial risks is known collectively as the Total of Cost of Risk. The concept of Total of Cost of Risk presents the business reality of a company's exposure to potentially devastating financial consequences in an integrated and useful way. In this way, a strategy of managing Total Cost of Risk in the most cost effective way can become a means of ensuring long term business health and security. This paper will examine the use of risk mapping as a tool for visually understanding Total Cost of Risk, thus creating an enhanced situational awareness and an integrated basis for risk management decision. The evaluation process, available through the use of risk maps allows the power producers to pro-actively implement prudent business decisions concerning the design, operation and maintenance of power plants. Risk mapping is thus a means for harmonizing operational objectives, such as improved plant reliability, with corporate strategies and goals in terms of an effective risk management program

Business Management Software Axolon ERP

OpenAIRE

Axolon ERP Solution

2018-01-01

Axolon ERP a Business Management Software www.axolonerp.com by Micromind is a comprehensive business management software solution for businesses. We deliver Business Management Software Dubai in UAE, GCC Countries and products also include ERP Software Dubai. HR & Payroll, Inventory Software, Project Management, Software Development, Solutions and Services in Dubai, UAE for small and medium sized Enterprises (SME) in the middle east with a easy-to-use, secure and efficient business management...

Analysing the external supply chain risk driver competitiveness: a risk mitigation framework and business continuity plan.

Science.gov (United States)

Blos, Mauricio F; Wee, Hui-Ming; Yang, Joshua

2010-11-01

Innovation challenges for handling supply chain risks have become one of the most important drivers in business competitiveness and differentiation. This study analyses competitiveness at the external supply chain level as a driver of risks and provides a framework for mitigating these risks. The mitigation framework, also called the supply chain continuity framework, provides insight into six stages of the business continuity planning (BCP) process life cycle (risk mitigation management, business impact analysis, supply continuity strategy development, supply continuity plan development, supply continuity plan testing and supply continuity plan maintenance), together with the operational constructs: customer service, inventory management, flexibility, time to market, ordering cycle time and quality. The purpose of the BCP process life cycle and operational constructs working together is to emphasise the way in which a supply chain can deal with disruption risks and, consequently, bring competitive advantage. Future research will consider the new risk scenarios and analyse the consequences to promote the improvement of supply chain resilience.

Fundamentals of risk management understanding, evaluating and implementing effective risk management

CERN Document Server

Hopkin, Paul

2012-01-01

Now more than ever, organizations must plan, response and recognize all forms of risks that they face. "Fundamentals of Risk Management", now in its second edition, provides a comprehensive introduction to the subject of commercial and business risk for anyone studying for a career in risk as well as a broad range of risk professionals. It examines the key components of risk management and its application with examples to demonstrate its benefit to organisations in the public and private sector. The second edition has been completely updated to take into account the greater influence of ISO 3100, the emergence of Governance Risk and Compliance (GRC) and the wide use of the bowtie method to illustrate risk management. In addition, there is now a chapter on the skills and competencies required by an effective risk manager.

PATTERNS OF RISK IN THE RETAIL BUSINESS IN ROMANIA

Directory of Open Access Journals (Sweden)

Adina CATANA

2010-12-01

Full Text Available The risk issue has become lately one of the most important themes in economic life. The risk is an important component of all management activities, whether it is a simple or more complex activity. There is a common opinion of those who study economics that the business risk is a natural thing, and it is irreplaceable in the business world. Risk disappearance creates confusion, inefficiency and generates the unnatural behaviour of the economic agents. Developing a business involves making decisions about the future. Information available to managers in making decisions is never perfect and complete. Considered one of the most dynamic economic sectors, trade is a deep restructuring process. The rapid rate of development in the economic activity has resulted in changes in trade activity, mainly in the retail sector, the new store formats of thousands of square feet generates a lot of turnover. The risks that appear in this sector, represented by large retail stores, are multiple: increased competition, technological development requiring replacement of hold capacity, insufficient information on the external elements of the enterprise, uncertain economic context, state intervention in the economy, environmental impact.

Business Continuity Management Plan

Science.gov (United States)

2014-12-01

NAVAL POSTGRADUATE SCHOOL MONTEREY, CALIFORNIA MBA PROFESSIONAL REPORT BUSINESS CONTINUITY MANAGEMENT PLAN December 2014......maximum 200 words) Navy Supply Systems Command (NAVSUP) lacks a business process framework for the development of Business Continuity Management

Records management and risk management at Kenya Commercial Bank Limited, Nairobi

Directory of Open Access Journals (Sweden)

Cleophas Ambira

2011-03-01

Full Text Available Background: This paper reported empirical research findings of an MPhil in Information Sciences (Records and Archives Management study conducted at Moi University in Eldoret, Kenya between September 2007 and July 2009.Objectives: The aim of the study was to investigate records management and risk management at Kenya Commercial Bank (KCB Ltd, in the Nairobi area and propose recommendations to enhance the functions of records and risk management at KCB. The specific objectives of the study were to, (1 establish the nature and type of risks to which KCB is exposed, (2 conduct business process analysis and identify the records generated by KCB, (3 establish the extent to which records management is emphasised within KCB as a tool to managing risk, (4 identify which vital records of KCB need protection because of their nature and value to the bank and (5 make recommendations to enhance current records management practices to support the function of risk management in KCB.Method: The study was qualitative. Data were collected through face-to-face interviews. The theoretical framework of the study involved triangulation of the records continuum model by Frank Upward (1980 and the integrated risk management model by the Government of Canada (2000.Results: The key findings of the study were, (1 KCB is exposed to a wide range of risks by virtue of its business, (2 KCB generates a lot of records in the course of its business activities and (3 there are inadequate records management practices and systems, the lack of which undermines the risk management function.Conclusion: The findings of this study have revealed the need to strengthen records management as a critical success factor in risk mitigation within KCB and, by extension, the Kenyan banking industry. A records management model was proposed to guide the management of records within an enterprise-wide risk management framework in the bank.

Business architecture management architecting the business for consistency and alignment

CERN Document Server

Simon, Daniel

2015-01-01

This book presents a comprehensive overview of enterprise architecture management with a specific focus on the business aspects. While recent approaches to enterprise architecture management have dealt mainly with aspects of information technology, this book covers all areas of business architecture from business motivation and models to business execution. The book provides examples of how architectural thinking can be applied in these areas, thus combining different perspectives into a consistent whole. In-depth experiences from end-user organizations help readers to understand the abstract concepts of business architecture management and to form blueprints for their own professional approach. Business architecture professionals, researchers, and others working in the field of strategic business management will benefit from this comprehensive volume and its hands-on examples of successful business architecture management practices.​.

A new vision of management competencies built in Business Simulations

Directory of Open Access Journals (Sweden)

Gabriel Vianna Schlatter

2015-09-01

Full Text Available This paper presents a survey conducted on users of an online business simulation for an undergraduate Business Administration course. Previous research on the use of business simulations described the validity of this resource as a method for developing managerial skills, as well as the perceptions of students about the experience. However, few studies sought to directly assess which management competencies are built through the use of simulators. In this study, students expressed their perception of the management competencies developed by participating in the simulation. The survey was structured according to the macro-competencies proposed by the Tuning Latin America Project and identified those with higher and lower perceived development.  It was found that the simulation was useful in building up competencies related to the use of information to support decision-making, management of company resources at the operational level and the identification and management of business risks. Moreover, it was possible to determine through factor analysis that the construction of various competencies occurred simultaneously, creating more elaborate assemblies. Five sets, composed of several competencies, have been identified and described as: carrying out undertakings based on data and facts; managing organization´s processes and projects; developing their own planning process; acting primarily with social responsibility; and, managing change risks through teamwork.

Stakeholder Risk Management in Ethical Decision Making

DEFF Research Database (Denmark)

Lauesen, Linne Marie

evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...... to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk......Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models...

Cloud computing in pharmaceutical R&D: business risks and mitigations.

Science.gov (United States)

Geiger, Karl

2010-05-01

Cloud computing provides information processing power and business services, delivering these services over the Internet from centrally hosted locations. Major technology corporations aim to supply these services to every sector of the economy. Deploying business processes 'in the cloud' requires special attention to the regulatory and business risks assumed when running on both hardware and software that are outside the direct control of a company. The identification of risks at the correct service level allows a good mitigation strategy to be selected. The pharmaceutical industry can take advantage of existing risk management strategies that have already been tested in the finance and electronic commerce sectors. In this review, the business risks associated with the use of cloud computing are discussed, and mitigations achieved through knowledge from securing services for electronic commerce and from good IT practice are highlighted.

Communicating Risk to Program Managers

Science.gov (United States)

Shivers, C. Herbert

2005-01-01

Program Managers (PM) can protect program resources and improve chances of success by anticipating, understanding and managing risks. Understanding the range of potential risks helps one to avoid or manage the risks. A PM must choose which risks to accept to reduce fire fighting, must meet the expectations of stakeholders consistently, and avoid falling into costly "black holes" that may open. A good risk management process provides the PM more confidence to seize opportunities save money, meet schedule, even improve relationships with people important to the program. Evidence of managing risk and sound internal controls can mean better support from superiors for the program by building a trust and reputation from being on top of issues. Risk managers have an obligation to provide the PM with the best information possible to allow the benefits to be realized (Small Business Consortium, 2004). The Institute for Chartered Accountants in England and Wales sees very important benefits for companies in providing better information about what they do to assess and manage key business risks. Such information will: a) provide practical forward-looking information; b) reduce the cost of capital; c) encourage better risk management; and d) improve accountability for stewardship, investor protection and the usefulness of financial reporting. We are particularly convinced that enhanced risk reporting will help listed companies obtain capital at the lowest possible cost (The Institute of Chartered Accountants in England &Wales, June 2002). Risk managers can take a significant role in quantifying the success of their department and communicating those figures to executive (program) management levels while pushing for a broader risk management role. Overall, risk managers must show that risk management work matters in the most crucial place-the bottom line- as they prove risk management can be a profit center (Sullivan, 2004).

Sustainable Risk Management in the Banking Sector

Directory of Open Access Journals (Sweden)

Županović Ivo

2014-01-01

Full Text Available The globalization of financial markets and negative consequences of the financial crisis resulted in negative connotations in the operation of many financial institutions, businesses and citizens and imposed the need to implement appropriate risk management measures in the banking sector. Evolution of the financial sector makes a lot of news in the field of risk management and particularly the modelling of market, credit and operational risk. The main methodology for risk management is the value-at-risk, which is used in practice with other techniques such as the capital- at-risk method in order to minimize business risks and achieve optimal results in the banking and, generally, financial operations. Accordingly, at all levels of governance in the banking sector, there are prudential policies in place governing the management of all types of financial and operational risks. Based on the abovementioned, the focus of the examination was on the above postulate, and prompt recognition, control and proper management of banking risks.

Identifying and Managing Risk.

Science.gov (United States)

Abraham, Janice M.

1999-01-01

The role of the college or university chief financial officer in institutional risk management is (1) to identify risk (physical, casualty, fiscal, business, reputational, workplace safety, legal liability, employment practices, general liability), (2) to develop a campus plan to reduce and control risk, (3) to transfer risk, and (4) to track and…

THE ROLE OF BUSINESS INTELLIGENCE IN BUSINESS PERFORMANCE MANAGEMENT

Directory of Open Access Journals (Sweden)

Babeanu Delia

2009-05-01

Full Text Available Business performance management (BPM is a key business initiative that enables companies to align strategic and operational objectives with business activities in order to fully manage performance through better informed decision making and action. Effec

Business continuity management in Jordanian banks: Some cultural considerations

OpenAIRE

Sawalha, Ihab Hanna S; Anchor, J.R; Meaton, Julia

2012-01-01

This article investigates the extent to which the Jordanian banking\\ud sector uses Business Continuity Management (BCM) as a way to manage organizational\\ud risk, disasters and crises, as well as business interruptions. The population\\ud in this study consists of the 17 Jordanian banks registered with the Amman Stock\\ud Exchange. Data were collected via an interviewer-administered questionnaire. Eleven\\ud completed questionnaires were obtained, representing a response rate of 64.7 per\\ud cent...

Business Management Concept Areas for Two-Year Postsecondary Institutions

Science.gov (United States)

Gentry, Lee; Gentry, Eileen

1978-01-01

A core of educational concepts in business ownership and management for two-year postsecondary institutions is outlined: economic systems, economic decisionmaking, organizational structure, management principles, marketing factors, accounting, legal obligations, financial structure, risk-taking and insurance, taxes, data processing, and social…

Management strategies for business

OpenAIRE

Alexander Sumets

2018-01-01

The paper aims to systematize business management strategies and identify their potential opportunities for the development of the competitive business advantages in transition economies. Characteristics of the features of modern business in developing countries (on the example of Ukraine) are given in the article in concise form. The relevance of the study of the relationship between strategy and business management is substantiated. Modern interpretations of the concepts of «strategy», «str...

THE ANALYSIS OF RISK MANAGEMENT PROCESS WITHIN MANAGEMENT

Directory of Open Access Journals (Sweden)

ROMANESCU MARCEL LAURENTIU

2016-10-01

Full Text Available This article highlights the risk analysis within management, focusing on how a company could practicaly integrate the risks management in the existing leading process. Subsequently, it is exemplified the way of manage risk effectively, which gives numerous advantages to all firms, including improving their decision-making process. All these lead to the conclusion that the degree of risk specific to companies is very high, but if managers make the best decisions then it can diminish it and all business activitiy and its income are not influenced by factors that could disturb in a negative way .

Business process management and IT management: The missing integration

DEFF Research Database (Denmark)

Rahimi, Fatemeh; Møller, Charles; Hvam, Lars

2016-01-01

of IT on process innovations, the association between business process management and IT management is under-explored. Drawing on a literature analysis of the capabilities of business process and IT governance frameworks and findings from a case study, we propose the need for horizontal integration between the two......The importance of business processes and the centrality of IT to contemporary organizations' performance calls for a specific focus on business process management and IT management. Despite the wide scope of business process management covering both business and IT domains, and the profound impact...... management functions to enable strategic and operational business - IT alignment. We further argue that the role of IT in an organization influences the direction of integration between the two functions and thus the choice of integration mechanisms. Using case study findings, we propose...

Business advertisements management system

OpenAIRE

Rekel, Ernest

2017-01-01

Business Advertisements Management System The main goal of the project was to create a business advertisements management system, where users could easily create and find business advertisements. To accomplish this goal exist- ing systems were analyzed as well as their limitations. The end result is a working system which is able to store and proccess huge amount of data.

Protecting your business: from emergency planning to crisis management

International Nuclear Information System (INIS)

Ramsay, C.G.

1999-01-01

The forthcoming UK Control of Major Accident Hazards (COMAH) regulations under the European Community's Seveso II Directive will impose a new formal requirement to test emergency plans. This might be approached as an added burden on industry to demonstrate safe operation, or can be viewed alternatively as an opportunity to improve crisis management systems and thereby decrease the risks to the business. Crisis is by nature an ambiguous and complex environment, demanding endless initiative, inventiveness, communication, co-ordination and learning. Because large-scale crises threatening the entire business are not frequent, learning from experience must be replaced by competence-assurance based on systems thinking, on risk assessment, on wide scenario simulations and on rigorous training. This paper discusses the benefits from various types of testing of emergency plans and from a business approach to continuous improvement in crisis management capability. (Copyright (c) 1999 Elsevier Science B.V., Amsterdam. All rights reserved.)

Risk Management in Insurance Companies

OpenAIRE

Yang, Xufeng

2006-01-01

Insurance is the uncertain business in uncertain society. Today, insures face more complex and difficult risks. Efficient risk management mechanisms are essential for the insurers. The paper is set out initially to explore UK insurance companies risk management and risk disclosure by examining companies annual report after all the listed insurance companies are required to disclose risk information in their annual report, which seeks to reflect the recent development in UK insurance companies...

Brand Management in Business-to-Business Context : Relational Perspective

OpenAIRE

Siponen, Jere

2012-01-01

It is a common belief among managers that branding is only useful in Business-to-Consumer markets and not in Business-to-Business. These managers think that the Busi-ness-to-Business rational and unemotional buying decision-making process cannot be affected by brand because it is only concerned with features, price, quality and so on. This is incorrect information. The possibility to choose between competitors has grown during time and this has expanded the traditional view of branding. A tru...

RISK MANAGEMENT OF GERMAN FRUIT PRODUCERS

Directory of Open Access Journals (Sweden)

Annkatrin PORSCH

2018-03-01

Full Text Available Horticultural farms in Germany face substantial business risks. However, fruit farms often struggle to implement appropriate risk management processes, and the risk management literature widely has ignored this farm type. The aim of the study was to improve the assessment of risks by farmers and the choice of suitable risk management instruments. Therefore, a risk management process based on subjective probabilities and suitable for small and medium-sized farms was developed, considering the specific needs of family run businesses. An online survey was conducted to achieve a comprehensive view of the risk perception and risk management practices of German fruit producers. Price and production risks are the most relevant risk categories for fruit farmers. However, among single risk sources, those in the people risk category were seen as the most important. Results show significant interactions among risk categories and a significant correlation between loss experience and the rating of risk categories. The assumption that risk averse farmers generally rate risks higher than risk neutral or risk seeking farmers cannot be confirmed. Diversification seems to be the most important risk management instrument for many fruit producers, especially diversification of marketing channels, farm income, and production activities. Further research should focus on the apparent inconsistency between the satisfaction with instruments reported by farmers and the actual implementation of many of them (e.g., hail insurance and anti-hail net. Furthermore, there is a need for research, to develop decision models considering the interactions of risks and risk management instruments, loss experience and risk seeking attitudes.

Towards a value model for collaborative, business intelligence-supported risk assessment

NARCIS (Netherlands)

Liu, L.; Daniëls, H.A.M.; Johannesson, P.

2012-01-01

Collaborative business intelligence supports risk assessment and in return enhances management control on a business network. Nonetheless, it needs an incentive basis in the first place before it can be implemented, that is, the value model. Starting from the managerial challenges which arise from

Application impact analysis: a risk-based approach to business continuity and disaster recovery.

Science.gov (United States)

Epstein, Beth; Khan, Dawn Christine

2014-01-01

There are many possible disruptions that can occur in business. Overlooking or under planning for Business Continuity requires time, understanding and careful planning. Business Continuity Management is far more than producing a document and declaring business continuity success. What is the recipe for businesses to achieve continuity management success? Application Impact Analysis is a method for understanding the unique Business Attributes. This AIA Cycle involves a risk based approach to understanding the business priority and considering business aspects such as Financial, Operational, Service Structure, Contractual Legal, and Brand. The output of this analysis provides a construct for viewing data, evaluating impact, and delivering results, for an approved valuation of Recovery Time Objectives (RTO).

THE IMPORTANCE OF CONSULTING IN CONTEMPORARY BUSINESS MANAGEMENT

OpenAIRE

Svetlana Vukotić; Jugoslav Aničić; Radovan Vukotić

2017-01-01

Modern business is characterized by risk and uncertainty, and such an environment is reflected in the decisions taken by managers. On the other hand, management consulting is one of the most important management techniques developed over the last fifty years. The secondary effect of this invention is the rapid development of new frameworks, tools, and techniques improving the operations in a number of companies. Exposure of consulting organizations to varying combin...

Key Account Management and Quality in Business-to-Business Relationships

OpenAIRE

Ojasalo, Jukka

2000-01-01

What are the main elements of successful Key Account Management (KAM)? What is the nature of quality for the company and for the individual in business-to-business relationships? What kind of managerial practices are required at the company and individual level in Key Account Management? This paper focuses on these central aspects of KAM. It describes the main elements of KAM, which is a systematic marketing management approach in the business-to-business context with the objective to build p...

Mainstreaming disaster risk management in higher education

Directory of Open Access Journals (Sweden)

MARCIA VILLASANA

Full Text Available Universities should actively participate in disseminating and fostering a culture for disaster risk management (DRM among students and the community. Particularly in countries with high levels of risk, education plays a key role in raising awareness on the importance of preventing and implementing conscious risk management. Though the incorporation of DRM into the curricula, education programs become a mechanism to prepare students from a perspective of strengthening of values, citizenship, and social sensibility towards how disaster represents a disruption of the functioning of a community and impairs business activity. This paper presents the proposal for the integration of DRM of a private university in Mexico, one of the countries particularly susceptible to extreme hydrometereological and geological events. The proposal includes a concentration area for undergraduate business students, a mandatory introductory course for all business majors, and for the business community an executive education program for SMEs

7 CFR 2.44 - Administrator, Risk Management Agency and Manager, Federal Crop Insurance Corporation.

Science.gov (United States)

2010-01-01

... 7 Agriculture 1 2010-01-01 2010-01-01 false Administrator, Risk Management Agency and Manager... Secretary for Farm and Foreign Agricultural Services to the Administrator, Risk Management Agency, and... for the transaction of the business of the Federal Crop Insurance Corporation and the Risk Management...

Business process management: a survey

NARCIS (Netherlands)

Aalst, van der W.M.P.; Hofstede, ter A.H.M.; Weske, M.H.; Aalst, van der W.M.P.; Hofstede, ter A.H.M.; Weske, M.H.

2003-01-01

Business Process Management (BPM) includes methods, techniques, and tools to support the design, enactment, management, and analysis of operational business processes. It can be considered as an extension of classical Workflow Management (WFM) systems and approaches. Although the practical relevance

Networked business process management

NARCIS (Netherlands)

Grefen, P.W.P.J.

2013-01-01

In the current economy, a shift can be seen from stand-alone business organizations to networks of tightly collaborating business organizations. To allow this tight collaboration, business process management in these collaborative networks is becoming increasingly important. This paper discusses

Business operations and decommissioning strategy for imperial college London research reactor 'Consort' - A financial risk management approach

International Nuclear Information System (INIS)

Franklin, S.J.; Gardner, D.; Mumford, J.; Lea, R.; Knight, J.

2005-01-01

Imperial College London (IC) operates commercially a 100 kW research reactor, and as site licensee is responsible for funding both operations and eventual decommissioning. With long lead times ahead urgent decisions on the future business options have had to be made in 2004/5 including choices on whether to move to early decommissioning, recognising the high costs entailed, or to pursue continuing operations involving life extension measures such as refuelling. To develop a coherent overall approach strategy a financial risk driven programme was initiated to help define a robust transparent business and termination case for the reactor. This study was carried out in collaboration with a UK firm of financial risk experts, PURE Risk Management Ltd (PURE), working within a dedicated IC London reactor project team. This work evaluated immediate closure options due to financial constraints or life limiting failures, and options for continuing operation extending to 2028. Decommissioning and clean up were reviewed. Bespoke financial models created single value cost outputs and ranges of probabilistic net present values (NPV) for decommissioning costs and financial provisions to meet those costs at various levels of risk acceptance and regulatory compliance. (author)

How to manage project opportunity and risk why uncertainty management can be a much better approach than risk management

CERN Document Server

Ward, Stephen

2011-01-01

Since I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enl

FINANCIAL PERFORMANCE AND THE BUSINESS RISK IN AGRICULTURAL SECTOR OF ROMANIA

Directory of Open Access Journals (Sweden)

BURJA VASILE

2017-06-01

Full Text Available The business risk is a permanent presence in the activities carried out by the companies. The financial decisions are often based on a compromise between risk and returns. To optimise the management of the companies, it is important to know the factors that generate risk and have a certain influence on the performance. This study has as main objective the explanation of the relationship between the financial performance and the factors that can be found within the microeconomic environment of the companies and determine the risk occurrence. The research is conducted on Romanian agricultural holdings from the vegetable sector, taking into account the period 2009-2014. The research methodology is based on econometric modelling. The results of regression analysis indicate that the farm performance is largely influenced by various business risk factors, of which the most important are the financing structure (financial risk and sales effectiveness (commercial risk. The findings helped us knowing the risk generating factors in the agricultural holdings activity, to find solutions for a proper management that leads to increased performance.

The role of internal audit in companies' risk management

Directory of Open Access Journals (Sweden)

Vlaović-Begović Sanja

2012-01-01

Full Text Available The internal audit area of application differs according to management needs and demands, as well as the structure and the size of a company. Besides examination of bookkeeping information, law synchronization check, criminal action and mistakes discoveries, internal audit is more and more directed towards risk management process in order to respond to the demands of uncertain business and to secure adequate business decisions making for management. This paper examines the role of internal audit in companies' risk management that is represented in examination and evaluation of risk management processes, with the aim of decreasing risk to an acceptable level for a company. Besides that, internal audit can support the management in configuration and establishing more efficient, improved risk management process. In order to ensure independence and objectiveness of internal audit operation, activities and responsibilities of management and internal audit are clearly defined.

Basic Business and Economics: Rationale for a Course in Small Business Management.

Science.gov (United States)

Swanson, Robert A.

1979-01-01

Stating that small business represents most of the nation's business but that business courses focus on corporate giants, the author presents arguments for a course in small business management. This course could prepare students for small business opportunities and provide an understanding of the nature of small business management and ownership.…

Quality Management and Business Excellence

Directory of Open Access Journals (Sweden)

Vasile Dinu

2017-02-01

Full Text Available An excellent organization involves much more than the implementation and the certification of one or more models of management systems. It means developing techniques and tools of busin excellence which lead the organization to outstanding performance on quality, costs and deadlines in order to meet the expectations of all their stakeholders. Such an approach is needed especially in the context of an economy marked by globalization, extremely complex and dynamic that causes spectacular changes in the business environment by integrating quality management principles on purpose to develop sustainable excellence. Not coincidentally, the new edition of the European excellence model EFQM integrates for the first time the principle "managing with agility“ with the principles: “developing organizational capability”, “harnessing creativity & innovation”, “adding value to the customer”, “sustaining outstanding results” for the organization and “creating a sustainable future”. Also, the new model for quality management system defined by the edition from 2015 of ISO 9000 standards , promotes the process-based approach, incorporating the cycle "Plan - Do − Check − Act" (PDCA and the risk-based thinking, focusing on organizational change and innovation, in order to ensure a sustainable performance in business. Noteworthy is the endeavor for the development of a high-level structure for all international standards for management systems, aiming to harmonize these standards to facilitate the implementation of integrated management systems (quality − environment − security − social responsibility.

THE MANAGEMENT OF RISKS IN BUSINESS AND IN THE MANAGEMENT OF HUMAN RESOURCES

Directory of Open Access Journals (Sweden)

Reta CONDEI

2014-10-01

Full Text Available The characteristics of market economy and coordinates of modern life have determinate both individual level and organizations increase of number of risk who can affect us, of their dimensions and of the consequences which induce them, but at the same time a highest need of firm security. In economic and financial department was develop an entire area –management risk and many financial instruments to reduce or diminish risk. The behaviour of economical agents respectively of the entrepreneurs and managers is different according to the risk in many respects: risk adversaries unaffected to risk and risk belovers who leave mark on decisions take it. Management risk is an cyclical process with distinct stages: risk identification, risk analyses and risk reactions. The management of this phenomenon goes from this context and the firm objectives, analyse the risk factors into a security conception having the purpose to minimize the risks and the cost. The policies of occupational safety and health at the level of the organization must include information regarding: the general security and health policy at work; the specific risks and the way of dealing with them; the responsibility of the managers in this field; the measures of implementation of these policies and must be based on: Employee safety is very important; Safety is prior to efficiency; Employee safety leads to advantages and efficiency; Respecting the regulations

Risk Management in IT Governance Framework

Directory of Open Access Journals (Sweden)

Mirela GHEORGHE

2011-12-01

Full Text Available The concept of governance has an already old contour: the system by which business corporations are directed and controlled. The most praised principles regarding shareholder rights, transparency and board accountability now constitute the foundation for new tendencies evolved from such ground. Executive compensation, transparency and shareholder reporting are new issues attached to board responsibilities. Besides such almost negative approaches the board faces a more and more prominent role from risk management and IT governance perspective. Nowadays is generally acknowledged that the board is in charge for managing and controlling the risks to assets of the enterprises and business future. IT Governance has emerged as a support for corporate governance, as an important part of board’s striving efforts to perform better in a competition environment. These responsibilities, risk management and IT Governance, remain within the framework of old concept of corporate governance and are fed from its substance. The interaction between these concepts is the core interest of this research.IT Governance is defined as procedures and policies established in order to assure that the IT system of an organization sustains its goals and strategies. The management of the organisations face a new challenge: structural redefinition of the IT component in order to create plus value and to minimize IT risks through an efficient management of all IT resources of the organisation. The evolution of the present IT environment is a natural process according to which business environment should adapt.

Introduction to School Business Management.

Science.gov (United States)

Miles, F. Mike

This chapter of "Principles of School Business Management" reviews the historical development of the school business management process and the role, responsibilities, and training of the administrators assigned to carry out the process. The origins of school management in colonial America and the subsequent growth and increasing…

Comparisons on International Approaches of Business and Project Risk Management

OpenAIRE

Nadia Carmen ENE

2005-01-01

In this article we intend to present a comparative approach between three recognized international methodologies for risk management: RISKMAN, Project Management Institute Methodology-PMBoK and Project Risk Analysis and Management Guide (produced by Association for Project Management).

Risk management versus incentives

International Nuclear Information System (INIS)

Aven, E.; Lovas, K.; Osmundsen, P.

2006-01-01

Portfolio theory indicates that risk management should take place at the group level. Hedging at the project level or in the individual business areas may lead to suboptimal results. However, the efficiency of a profit centre depends on its management's being able to influence factors that are crucial to the unit's financial results. Price hedging could be one such factor. In the wider perspective, this constitutes part of the balancing between centralisation and decentralisation. This article covers important elements of risk management and incentive design. It goes on to discuss the balancing of overall risk management at the group level and incentive design in profit centres and corporate units. Throughout the article, the oil industry serves as a case. (author)

Considerations on Risk in Supply Chain Management Information Systems Implementation

Directory of Open Access Journals (Sweden)

Valentin-Petru Măzăreanu

2013-02-01

Full Text Available Innovation in information and communication technologies resulted in the digital revolution. This kind of revolution is changing the way people work, learn, communicate and manage their businesses. Due to the need to achieve the competitive advantage and to meet the business requirements, we are witnessing an increasing shift from business to e-business and mobile business. In this kind of world solutions like Supply Chain Management (SCM are increasingly appearing. The business success depends on how effective the information system works. Any interruption of the information system will inevitably lead to business loss. To ensure the successful implementation of a SCM project it is necessary to study even from the early stages which are the possible actions / risks / obstacles which might damage in one way or another the execution of the project. The role of the literature and case studies review in the field of interest is undeniable because it provides us with access to the so-called lessons-learned. By using this approach, in this paper, we present the most common risks and risk sources encountered in the implementation projects of SCM type information systems. We also propose a risk identification framework that can be used in the early stages of the implementation project of a Supply Chain Management information system.

Managing risks and hazardous in industrial operations

Energy Technology Data Exchange (ETDEWEB)

Almaula, S.C. [Woodward-Clyde International, Oakland, CA (United States)

1996-12-31

The main objective of this paper is to demonstrate that it makes good business sense to identify risks and hazards of an operation and take appropriate steps to manage them effectively. Developing and implementing an effective risk and hazard management plan also contibutes to other industry requirements and standards. Development of a risk management system, key elements of a risk management plan, and hazards and risk analysis methods are outlined. Comparing potential risk to the cost of prevention is also discussed. It is estimated that the cost of developing and preparing the first risk management plan varies between $50,000 to $200,000. 3 refs., 2 figs., 1 tab.

The theoretical aspects of the methodology of risk analysis in chosen business enterprise

Directory of Open Access Journals (Sweden)

Josef Zrůst

2010-01-01

Full Text Available The risk, crisis, crisis management, crisis regulation and risk management are currently often used terms. It is late to search a cause of crisis in time, when the crisis had broken out and their destructive effects are displaying. It is more suitable to focus on preventive control of business assets. The goal of this article is to suggest a methodical process of risk analysis with focus on protection of carrying business assets. The suggested methodical process of the analysis comes out a persuasion that primary attention is needed to give a protection of carrying business assets. Carrying assets are those which create potentials of business success and in case of their destroying, damaging or loss will originate to subject major or even existence loss. To such chosen carrying business assets are identified threats coming out parts of macro environment (political, legal, economical, social, demographic, technical and technological, ecological and threats from an field environment. To the identification of threats in field environment is used an analysis of five forces model according Porter. As a final step of the suggested methodical process of risk analysis is a creation of a risk matrix to each carrying asset. In this matrix is drawn the risk, which is described with a qualified estimation of occurrence its proba­bility and with an estimation of amount of possible damage, which can be caused by risk. According location the identified risk in the risk matrix is suggested the way of the regulation single risks.It is possible to choose between five basic strategies: Strategy “Take”, Strategy of crisis plans, Strategy of risk treatment, Strategy of risk transfer and Strategy “Terminate”. Single strategies are possible to combine between each other. The combination is suitable in cases, when there is threaten a big loss with a high probability.

A pharmacy business management simulation exercise as a practical application of business management material and principles.

Science.gov (United States)

Rollins, Brent L; Gunturi, Rahul; Sullivan, Donald

2014-04-17

To implement a pharmacy business management simulation exercise as a practical application of business management material and principles and assess students' perceived value. As part of a pharmacy management and administration course, students made various calculations and management decisions in the global categories of hours of operation, inventory, pricing, and personnel. The students entered the data into simulation software and a realistic community pharmacy marketplace was modeled. Course topics included accounting, economics, finance, human resources, management, marketing, and leadership. An 18-item posttest survey was administered. Students' slightly to moderately agreed the pharmacy simulation program enhanced their knowledge and understanding, particularly of inventory management, cash flow statements, balance sheets, and income statements. Overall attitudes toward the pharmacy simulation program were also slightly positive and students also slightly agreed the pharmacy simulation program enhanced their learning of pharmacy business management. Inventory management was the only area in which students felt they had at least "some" exposure to the assessed business management topics during IPPEs/internship, while all other areas of experience ranged from "not at all" to "a little." The pharmacy simulation program is an effective active-learning exercise and enhanced students' knowledge and understanding of the business management topics covered.

Knowledge management vs business process management in contemporary enterprises

Directory of Open Access Journals (Sweden)

Bitkowska Agnieszka

2016-06-01

Full Text Available The main objective of this paper is to identify the system of knowledge management in contemporary process organizations in business process perspective, especially with regard to technological and social conditions. Methodology is based on literature analysis and case studies. The integration of knowledge management technologies, concepts and methods into organizational business processes is challenging research issue today. The concepts of knowledge management and business process management should be analyzed jointly in the contemporary enterprises. Despite of the growing interest among researchers and practitioners of the concept of the knowledge management referring to business process management there is a lack of articles in this area. Appropriate approach to the modelling of knowledge management processes, as well as the use of IT tools, and a motivation system are of key importance for the introduction of this solution in organizations.

Fundamentals of business process management

NARCIS (Netherlands)

Dumas, Marlon; La Rosa, Marcello; Mendling, Jan; Reijers, Hajo A.

2018-01-01

This textbook covers the entire Business Process Management (BPM) lifecycle, from process identification to process monitoring, covering along the way process modelling, analysis, redesign and automation. Concepts, methods and tools from business management, computer science and industrial

A business perspective on environmental risk and cost reduction

International Nuclear Information System (INIS)

Roper, U.V.

1998-01-01

The ways in which the petrochemical industry can enjoy successful business partnerships with environmental service companies was discussed. The petrochemical industry has traditionally viewed environmental service companies as an inherent cost in the context of risk management, and not in the context of business opportunity. Today, as environmental issues are integrated into business operations, there is a new potential for creating business opportunities in a number of operational areas, among them : (1) energy efficiency, (2) process efficiency, (3) waste minimization, (4) waste recycling, and (5) operational pooling. As environmental service companies became more competitive, they have become more attractive business partners. They are providing more diversified services and are better aligned with core competencies required to exploit business opportunities that are too small for major players in the oil,natural gas and petro-chemical industry. They also offer public recognition and financial upside for industry. Some examples of successful business partnerships along these lines are briefly described

Integrated risk management for business survival

International Nuclear Information System (INIS)

Piatt, J.A.

1992-06-01

During the recent recession, many businesses have had to take severe measures to cut costs. The Department of Defense has also been faced with the need to cut costs to offset the expense of the Gulf War and a shrinking budget due to the fall of communism around the world. With the collapse of the Warsaw Pact and dissolution of the Soviet Union, there has been an increasing demand to reduce the defense budget to provide the so-called ''peace dividend'' to deal with social and economic problems at home. President Bush's State of the Union Message in February 1992 called for deeper cuts than the 25% previously anticipated. It also called for these cuts to occur sooner than expected with $50 billion in defense cuts anticipated over the fiscal 1992--1997 period. The Department of Defense plan for force resizing calls for 25-30% reductions over time. This report discusses how the department of defense is trying to deal with the management of this crisis

Integrated risk management for business survival

Energy Technology Data Exchange (ETDEWEB)

Piatt, J.A.

1992-06-01

During the recent recession, many businesses have had to take severe measures to cut costs. The Department of Defense has also been faced with the need to cut costs to offset the expense of the Gulf War and a shrinking budget due to the fall of communism around the world. With the collapse of the Warsaw Pact and dissolution of the Soviet Union, there has been an increasing demand to reduce the defense budget to provide the so-called ``peace dividend`` to deal with social and economic problems at home. President Bush`s State of the Union Message in February 1992 called for deeper cuts than the 25% previously anticipated. It also called for these cuts to occur sooner than expected with $50 billion in defense cuts anticipated over the fiscal 1992--1997 period. The Department of Defense plan for force resizing calls for 25-30% reductions over time. This report discusses how the department of defense is trying to deal with the management of this crisis.

Business, Economics, Financial Sciences, and Management

CERN Document Server

2011 International Conference on Business, Economics, and Financial Sciences, Management (BEFM 2011)

2012-01-01

A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume.   Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources.   The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Scienc...

Advanced business process management in networked E-business scenarios

NARCIS (Netherlands)

Grefen, P.W.P.J.; Türetken, O.

2017-01-01

In the modern economy, we see a shift towards networked business scenarios. In many contemporary situations, the operation of multiple organizations is tightly coupled in collaborative business networks. To allow this tightly coupled collaboration, business process management (BPM) in these

Risk management - unappreciated instrument of supply chain management strategy

OpenAIRE

Wojciech Machowiak

2012-01-01

Background: Unlike Enterprise Risk Management, which is certainly quite well rooted in business practice, Supply Chain Risk Management (SCRM) still continues to be dynamically developing subject of academic research, whereas its practical applications are rather scarce. Material and methods: On the basis of broad review of the current state of the art in world literature, significant  relevancies to the core processes and enterprise strategy are discussed.   Results: ...

Semantic test of a technology management model in family business

Directory of Open Access Journals (Sweden)

Guillermo Jesús Larios

2017-10-01

Full Text Available This paper assembles family business conceptions from the innovation and technology management perspective, and tests them in the case of a Mexican sugarcane producer. Literature indicates that non-financial objectives, risk aversion and strong controls negatively influence family firms’ innovation outcomes. Based on semantic network analysis, we collected transversal information on the firm’s technology activities, innovation values and organizational flows, which allowed for the identification of an organizational management profile that shapes an innovation style. Although we acknowledge literature consistency in aspects such as family direct influence and control, or the importance of STI partnerships and external knowledge, our findings didn’t identify any concerns about losing control in parts of the family business. This research contributes to the understanding of technology management and organizational elements in an emerging economy’s family firm from a relational perspective. Implications for theory endorsement and characterization of family business innovation and technology management in developing countries are discussed.

Business Process Management Theory and Applications

CERN Document Server

2013-01-01

Business Process Management (BPM) has been in existence for decades. It  uses, complements, integrates and extends theories, methods and tools from  other scientific disciplines like: strategic management, information technology, managerial accounting, operations management etc. During this period the main focus themes of researchers and professionals in BPM  were: business process modeling, business process analysis, activity based costing, business process simulation, performance measurement, workflow management, the link between information technology and BPM for process automation etc. More recently the focus moved to subjects like Knowledge Management, Enterprise Resource Planning (ERP) Systems, Service Oriented Architectures (SOAs), Process Intelligence (PI) and even  Social Networks. In this collection of papers we present a review of the work and the outcomes achieved in the classic BPM fields as well as a deeper insight on recent advances in BPM. We present a review of business process modeling a...

Enterprise Content Management Implementation and Risk

Directory of Open Access Journals (Sweden)

Jaroslava Klegová

2015-01-01

Full Text Available Enterprise Content Management (ECM solutions are commonly used in many areas such as document management, record management, digital asset management, etc. Key features of ECM systems are capturing, indexing, preserving and retrieving of digital information. The state-of-the- art ECM solution can help revolutionize document management and further automated business processes which can lead to better decisions and competitive advantage. Risk management can reduce project failure and that is why controlling risk in ECM implementation projects is considered to be a major contributor to project success. To manage software risk, the first step is to identify a list of ECM projects’ risks. The present paper provides an overview of ECM implementation risks and contains findings from a small survey on experience of ECM implementation and risk in Czech enterprises. Risk of implementation in the public sector is discussed more deeply with case study examples.

Continuous Risk Management: An Overview

Science.gov (United States)

Rosenberg, Linda; Hammer, Theodore F.

1999-01-01

Software risk management is important because it helps avoid disasters, rework, and overkill, but more importantly because it stimulates win-win situations. The objectives of software risk management are to identify, address, and eliminate software risk items before they become threats to success or major sources of rework. In general, good project managers are also good managers of risk. It makes good business sense for all software development projects to incorporate risk management as part of project management. The Software Assurance Technology Center (SATC) at NASA GSFC has been tasked with the responsibility for developing and teaching a systems level course for risk management that provides information on how to implement risk management. The course was developed in conjunction with the Software Engineering Institute at Carnegie Mellon University, then tailored to the NASA systems community. This is an introductory tutorial to continuous risk management based on this course. The rational for continuous risk management and how it is incorporated into project management are discussed. The risk management structure of six functions is discussed in sufficient depth for managers to understand what is involved in risk management and how it is implemented. These functions include: (1) Identify the risks in a specific format; (2) Analyze the risk probability, impact/severity, and timeframe; (3) Plan the approach; (4) Track the risk through data compilation and analysis; (5) Control and monitor the risk; (6) Communicate and document the process and decisions.

Business continuity management in international organisations.

Science.gov (United States)

Adamou, Christel

2014-01-01

In the area of business continuity management, a preliminary review of the literature reveals extensive knowledge, expertise and experience concerning organisations in the private and public sectors. It is interesting to note, however, that there is little literature about business continuity management in international organisations, although these entities are complex and particularly prone to threats. This apparent absence of literature suggests that business continuity management has not yet hit the agenda of international organisations. In recent years, member states have encouraged senior management to design and implement business continuity strategies to minimise the mishandling of an internal crisis and build organisational resilience, but very few of them have actually been able to design and implement comprehensive business continuity programmes. Based on actual experience working in international organisations, this paper outlines some of the challenges faced by international organisations in developing and implementing business continuity activities and attempts to make suggestions for further improvement.

Opening of the markets increases the risks of district heating business

International Nuclear Information System (INIS)

Silvennoinen, A.

2001-01-01

Maintenance of the technical operation conditions of district heating is the main requirement of community to the district heating business. Infrastructure of district heating, including the heat generation and distribution plants, equipment and devices, requires relatively large investments. Total process from fuel purchase to heat delivery does not occur in a closed limited area, but it penetrates the total market area (heat distribution network) and even larger via fuel purchase and transport. E.g. the fuels are combustible and might explode. Oil-spills into the environment may have catastrophic effects. Large leakage of hot district heating water is both environmentally hazardous and forms also a health hazard, and they stop the delivery of district heat. Dominant position on the markets is also followed closely by the authorities. On the other hand competition with other heating forms require efficient operation. The author reviews in the article the basics of risk management, and especially in the district heating business. The risk management process is discussed in the risk analysis and determination of the significance of the risks, the effects of realization of the risks, planning of the measures to be taken to avoid risks, and preparations against the risks

Il governo della performance dei processi di business : dai Key Performance Indicators ai Key Risk Indicators

OpenAIRE

Sergio Beretta; Saverio Bozzolan

2013-01-01

The recent paper issued by COSO ["Developing Key Risk Indicators to Strengthen Enterprise Risk Management" (Coso, 2010)] is the starting point of this article whose aim is to discuss the relevance of the business process dimension in the design and implementation of Key Risk Indicators. The Authors analyze the reasons of the systematic underestimation of the business process dimension in the COSO papers and debate the implications that the explicit consideration of the business process dimens...

Practicing Business Model Management in New Ventures

Directory of Open Access Journals (Sweden)

Malin Malmström

2017-01-01

Full Text Available Purpose: The purpose of this paper is to enhance the knowledge of business modeling in the early phases by exploring its core components and the management of those components. This will be achieved by answering the following exploratory questions: What aspects of business model components do entrepreneurs process in the early stages? How do entrepreneurs process those aspects? Design/Methodology/Approach: In this qualitative study, data was collected during semi-structured inter- views with six entrepreneurs. Findings: The findings support the argument that when studying the early stages of business model manage- ment, to gain a richer understanding of the entrepreneurial process, acknowledging the resource activities is important. Our findings highlight that cash and competence appear to be essential focus in managing busi- ness model components in early stage. We also found that entrepreneurs may create resource slack that al- lows businesses to carve out a competitive position in the marketplace by focusing on business model design and management. Originality/Value: Although business model research is developing rapidly, one prominent gap in the field is how entrepreneurs manage their business models in the early start-up stages. In particular, there is a lack of knowledge about what entrepreneurs focus on in their business model management in early start-up stages and how they manage these aspects, an area to which this research contributes.

Risk and Work Configuration Management as a Function of Integrated Safety Management

International Nuclear Information System (INIS)

Lana Buehrer; Michele Kelly; Fran Lemieux; Fred Williams

2007-01-01

National Security Technologies, LLC (NSTec), has established a work management program and corresponding electronic Facilities and Operations Management Information System (e-FOM) to implement Integrated Safety Management (ISM). The management of work scopes, the identification of hazards, and the establishment of implementing controls are reviewed and approved through electronic signatures. Through the execution of the program and the implementation of the electronic system, NSTec staff work within controls and utilize feedback and improvement process. The Integrated Work Control Manual further implements the five functions of ISM at the Activity level. By adding the Risk and Work Configuration Management program, NSTec establishes risk acceptance (business and physical) for liabilities within the performance direction and work management processes. Requirements, roles, and responsibilities are specifically identified in the program while e-FOM provides the interface and establishes the flowdown from the Safety Chain to work and facilities management processes to company work-related directives, and finally to Subject Matter Expert concurrence. The Program establishes, within the defined management structure, management levels for risk identification, risk mitigation (controls), and risk acceptance (business and physical) within the Safety Chain of Responsibility. The Program also implements Integrated Safeguards and Security Management within the NSTec Safety Chain of Responsibility. Once all information has been entered into e-FOM, approved, and captured as data, the information becomes searchable and sortable by hazard, location, organization, mitigating controls, etc

Business continuity management in emerging markets: the case of Jordan.

Science.gov (United States)

Sawalha, Ihab H; Anchor, John R

2012-01-01

Despite their considerable growth in last few decades, emerging markets (EM) face numerous risks that have the potential to slow down or obstruct their development. Three main issues are discussed in this paper: first, the risks facing organisations operating in emerging markets and Jordan in particular; secondly, the role of business continuity management (BCM) in emerging markets; and thirdly, potential factors that underpin the role of BCM in emerging markets. These issues are significant, as they represent the role of BCM in highly dynamic and fast changing business environments. The paper provides a discussion of the significance of BCM in reducing or preventing risks facing organisations operating in emerging markets, especially those in Jordan.

Board of directors and risk management

NARCIS (Netherlands)

van der Elst, C.F.; Birkmose, H.; Neville, M.; Sorensen, K.

2013-01-01

The board of directors is responsible for an appropriate business risk management environment. The paper studies in a comparative way how legislators and courts fill this duty. We question whether the legislative and regulatory framework will improve the equilibrium between entrepreneurship and risk

Managing Corruption Risks

DEFF Research Database (Denmark)

Krause Hansen, Hans

2011-01-01

This article investigates the emerging engagement of private actors and specifically Western corporations in international anti-corruption, drawing on Foucauldian studies of governmentality. It explores this engagement as governing practices that have emanated quite independently from the inter......-state system commonly understood to be at the core of the anti-corruption regime. It demonstrates how corporate anti-corruption ties in with a relatively new way of perceiving corruption. In this framing, anti-corruption comes out as risk management, which is latched on to notions of corporate social...... responsibility and business ethics. Moreover, the constitution of corruption risk relates to the rise of new actors and networks engaged in a wider business of anti-corruption, including commercial and hybrid actors that supply corporations with managerial instruments, benchmarks for best practice, rankings...

Integrated risk management for business survival

Energy Technology Data Exchange (ETDEWEB)

Piatt, J.A.

1992-06-01

During the recent recession, many businesses have had to take severe measures to cut costs. The Department of Defense has also been faced with the need to cut costs to offset the expense of the Gulf War and a shrinking budget due to the fall of communism around the world. With the collapse of the Warsaw Pact and dissolution of the Soviet Union, there has been an increasing demand to reduce the defense budget to provide the so-called peace dividend'' to deal with social and economic problems at home. President Bush's State of the Union Message in February 1992 called for deeper cuts than the 25% previously anticipated. It also called for these cuts to occur sooner than expected with $50 billion in defense cuts anticipated over the fiscal 1992--1997 period. The Department of Defense plan for force resizing calls for 25-30% reductions over time. This report discusses how the department of defense is trying to deal with the management of this crisis.

Survey of business process management: challenges and solutions

Science.gov (United States)

Alotaibi, Youseef; Liu, Fei

2017-09-01

The current literature shows that creating a good framework on business process model (PM) is not an easy task. A successful business PM should have the ability to ensure accurate alignment between business processes (BPs) and information technology (IT) designs, provide security protection, manage the rapidly changing business environment and BPs, manage customer power, be flexible for reengineering and ensure that IT goals can be easily derived from business goals and hence an information system (IS) can be easily implemented. This article presents an overview of research in the business PM domain. We have presented a review of the challenges facing business PMs, such as misalignment between business and IT, difficulty of deriving IT goals from business goals, creating secured business PM, reengineering BPs, managing the rapidly changing BP and business environment and managing customer power. Also, it presents the limitations of existing business PM frameworks. Finally, we outline several guidelines to create good business PM and the possible further research directions in the business PM domain.

Risk in Management Systems according to ISO standard

Directory of Open Access Journals (Sweden)

P. Królas

2010-07-01

Full Text Available The purpose of this article was to present selected management standards in context of risk management. It presents main ISOmanagement standards (ISO 9001, ISO 14001, OHSAS 18001, ISO 27001, BS 25999, ISO 31000 that apply to polish enterprises. In thefirst part of this article there are analyzed management standards regarding quality, environment, occupational health and safety,information security, as well as business continuity management and risk management. The second part of the article discusses the processof dealing with risk based on chosen management standard.

Business Process Risk Management, Compliance and Internal Control: A Research Agenda

OpenAIRE

Rikhardsson, Pall; Best, Peter; Green, Peter; Rosemann, Michael

2006-01-01

Integration of risk management and management control is emerging as an important area in the wake of the Sarbanes-Oxley Act and with ongoing development of frameworks such as the Enterprise Risk Management (ERM) framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on an inductive methodological approach using literature review and interviews with managers engaged in risk management and internal control projects, this paper identifies three main ar...

The Management-Business Process: Cultural Considerations.

Science.gov (United States)

Ruiz, Reynaldo

The effect of culture on the business management process in a Hispanic setting is explored for the benefit of persons in business in Latin America or with Hispanic groups in the United States. Understanding of cultural differences is important for business managers who work with Spanish speaking employees or clients because of the wide-ranging and…

Importance of Strategic Management in Business

Directory of Open Access Journals (Sweden)

Yakup DURMAZ

2016-03-01

Full Text Available Today, we see a busy and fast period of change in all area of our life. This process consistently changes especially the management domain and forces business managers to be ready to change at any moment. Change has become so fast all around the world and it has turned into a multidimensional concept. The period of change in which we live in an interactive and fast way in political, social, cultural and economic areas brings up different processes such as quick start, quick decision making, bringing more dynamics and flexibility structure to management. In this context, the main idea of our study is based on that businesses should manage the process of change by using strategies. Businesses which understand clearly what strategy is and design their future plans based on those strategies are going to be more successful than their competitors in the environments seen fierce competition and fast change. In our study formed around this basic thesis, first we will make a conceptual analysis related to strategies, then refer to the importance of strategic management and we will examine strategic management contributions to businesses and finally, we will mention the importance of connection between strategy and culture of an organization to be enable more success in the strategic management process.

Viability of Event Management Business in Batangas City, Philippine: Basis for Business Operation Initiatives

Directory of Open Access Journals (Sweden)

Jeninah Christia D. Borbon

2016-11-01

Full Text Available The research study on Viability of Event Management Business in Batangas City: Basis for Business Operation Initiatives aimed to assess the viability of this type of business using Thompson’s (2005 Dimension of Business Viability as its tool in order to create business operation initiatives. It provided a good framework for defining success factors in entrepreneurial operation initiatives in a specific business type – event management. This study utilized event organizers based in Batangas, a southern popular province, which also is a great popular destination for many types of events. Findings showed that the event management business in Batangas City is generally a personal event type of business whose year of operation ranges from one to three years, mostly link to church or reception venues and usually offers on the day coordination. In the assessment of its perceived viability, it was found out that this type of business is moderately viable in terms of market, technical, business model, management model, economic and financial, and exit strategy. Among all the dimensions tested, only market, management model, economic and financial, and exit strategy showed significant relationship with the profile variables of the event management business. From the enumerated problems encountered, those that got the highest rate were demanding clients, overbooking of reservation/exceeding number of guests and failure to meet spectators and/or competitors expectations. And, the recommended business operation initiatives were based on the weaknesses discovered using Thompson’s Dimension of Business Viability Model.

Teaching Disaster Risk Management: Lessons from the Rotman School of Management

Directory of Open Access Journals (Sweden)

ANDRÁS TILCSIK

Full Text Available This article describes how disaster risk management topics are taught at the Rotman School of Management at the University of Toronto and thus highlights opportunities for developing similar course modules on disaster risk management at other institutions. An undergraduate and MBA elective course, titled Catastrophic Failure in Organizations, contains four modules that are directly relevant to disaster risk management. The first module focuses on the need to move from risk indifference to risk sensitivity. The second module considers the importance of business continuity and crisis management plans and explores their common shortcomings. The third module uses a case study to examine the topic of prospective risk management. The fourth module focuses on the vulnerability of supply chains and other complex systems to disaster risk. The article describes the details of implementing these modules and discusses opportunities for further integration of disaster risk management topics in other parts of the curriculum.

SYNERGISTIC EFFECTS OF TOTAL QUALITY MANAGEMENT AND OPERATIONAL RISK MANAGEMENT IN CENTRAL BANKS

Directory of Open Access Journals (Sweden)

Radoica Luburić

2012-12-01

Full Text Available This paper focuses on two very important and current approaches to management: Total Quality Management (TQM and Operational Risk Management (ORM. As a paradigm of business success, TQM provides the key assumptions for survival, development and success of an organisation, regardless of any limitations whatsoever. ORM, on the other hand, is predetermined to be an irreplaceable managerial tool that enables organisations to survive in any environment. In times of accelerated political, economic and technological changes, frequent natural disasters, acts of terrorism and other external events, a successful risk management has been gaining importance and becomes one of the key competitive advantages of an organisation. The ultimate objective is to make TQM and ORM, as two rather compatible and complementary approaches to risk management, harmonized, efficient and functional in order to get their synergistic effects in an organisation in full swing and practice. Various organisations, and thus central banks as conservative institutions, have an innovative opportunity to timely minimize their operational risk through preventive, comprehensive and synergistic operation of TQM and ORM and thus significantly contribute to improving their business performance.

IMPLEMENTING A RISK MANAGEMENT STANDARD

Directory of Open Access Journals (Sweden)

Constantin PREDA

2013-01-01

Full Text Available After risk management “conquered” more and more project managers’ minds and showed its benefits for business and programs, the need to have a global risk management standard has become a crucial issue in the world of risk management. But having a global risk management standard has been a big challenge, starting from the decision of developing the standard (March-June 2005, to the moment of publishing it, November 2009. So, developing the ISO 31000:2009 standard has been more or less like a bumpy ride. Apparently, the people involved in developing the global risk management standard understood from the very beginning that no challenges are too big, nor any tasks too small and that the task of having a new, comprehensive global risk management standard should be completed with excellence: defining the principles and the framework guiding the risk management process applicable for all type of organizations and for a wide range of activities. Coming up with a global standard should always be based on the real organizations’ needs and should fulfill real risk management requirements. The article is trying to present the pros and cons of risk management standard implementation, challenging the implementation process itself and the added value of implementing the standard due to the lack of implementation enablers, like risk culture, a real problem especially in an international environment.

AN ANALYSIS OF RISK EVENTS IN THE OIL-TANKER MAINTENANCE BUSINESS

Directory of Open Access Journals (Sweden)

Roque Rabechini Junior

2012-12-01

Full Text Available This work presents the results of an investigation into risk events and their respective causes, carried out in ship maintenance undertakings in the logistical sector of the Brazilian oil industry. Its theoretical, conceptual positioning lies in those aspects related to risk management of the undertakings as instruments of support in decision making by executives in the tanker-maintenance business. The case-study method was used as an alternative methodology with a qualitative approach of an exploratory nature and, for the presentation of data, a descriptive format was chosen. Through the analysis of 75 risk events in projects of tanker docking it was possible to extract eight of the greatest relevance. The risk analysis facilitated the identification of actions aimed at their mitigation. As a conclusion it was possible to propose a risk-framework model in four categories, HSE (health, safety and the environment, technicians, externalities and management, designed to provide tanker-docking business executives and administrators, with evidence of actions to assist in their decision-making processes. Finally, the authors identified proposals for further study as well as showing the principal limitations of the study.

Methodological Bases for Describing Risks of the Enterprise Business Model in Integrated Reporting

Directory of Open Access Journals (Sweden)

Nesterenko Oksana O.

2017-12-01

Full Text Available The aim of the article is to substantiate the methodological bases for describing the business and accounting risks of an enterprise business model in integrated reporting for their timely detection and assessment, and develop methods for their leveling or minimizing and possible prevention. It is proposed to consider risks in the process of forming integrated reporting from two sides: first, risks that arise in the business model of an organization and should be disclosed in its integrated report; second, accounting risks of integrated reporting, which should be taken into account by members of the cross-sectoral working group and management personnel in the process of forming and promulgating integrated reporting. To develop an adequate accounting and analytical tool for disclosure of information about the risks of the business model and integrated reporting, their leveling or minimization, in the article a terminological analysis of the essence of entrepreneurial and accounting risks is carried out. The entrepreneurial risk is defined as an objective-subjective economic category that characterizes the probability of negative or positive consequences of economic-social-ecological activity within the framework of the business model of an enterprise under uncertainty. The accounting risk is suggested to be understood as the probability of unfavorable consequences as a result of organizational, methodological errors in the integrated accounting system, which present threat to the quality, accuracy and reliability of the reporting information on economic, social and environmental activities in integrated reporting as well as threat of inappropriate decision-making by stakeholders based on the integrated report. For the timely identification of business risks and maximum leveling of the influence of accounting risks on the process of formation and publication of integrated reporting, in the study the place of entrepreneurial and accounting risks in

Risk management in the entrepreneurship in Romania in the context of the economic crisis

OpenAIRE

Felicia Adriana LUPU

2009-01-01

The future of business depends, in a determinant way, on the manner in which the companies have the risk under control. In businesses, risk management entails organized activity to manage uncertainty and threats and involves people following procedures and using tools in order to ensure conformance with risk-management policies. In practice, balancing between risks with a high probability of occurrence but lower loss versus a risk with high loss but lower probability of occurrence can often b...

Risk management: A tool for improving nuclear power plant performance

International Nuclear Information System (INIS)

2001-04-01

This technical document on risk management as a tool for improving nuclear power plant (NPP) operations is part of an ongoing project on management of NPP operations in a competitive environment. The overall objective of this project is to assist the management of operating organizations and NPPs in identifying and implementing appropriate measures to remain competitive in a rapidly changing business environment. Other reports developed through this project have identified overall strategies and techniques that NPP operating organization managers can use to succeed in more competitive energy markets. For example, in IAEA-TECDOC-1123, Strategies for Competitive Nuclear Power Plants, one of the most important strategies identified was integrated risk management. This publication provides a recommended structure for risk management along with examples of how NPP operating organizations are using this tool to help them integrate safety, operational and economic related risks in a changing business environment

Managing risks in business model innovation processes

DEFF Research Database (Denmark)

Taran, Yariv; Boer, Harry; Lindgren, Peter

2010-01-01

Companies today, in some industries more than others, invest more capital and resources just to stay competitive, develop more diverse solutions, and increasingly start thinking more radically when considering their business models. However, despite the understanding that business model (BM...

KCA Journal of Business Management: Editorial Policies

African Journals Online (AJOL)

KCA Journal of Business Management: Editorial Policies ... Finance, Management, Human, Resources management, Business research methods, ... The papers should take into account the diversity of the targeted readership as reflected in ...

MANAGEMENT SYSTEM OF THE ORGANIZATION PERFORMANCE INDICATORS IN THE CONDITIONS OF BUSINESS PROCESSES REALIZATION

Directory of Open Access Journals (Sweden)

Aleksandr Vladimirovich Gagarinskii

2016-12-01

Full Text Available This article discusses the problem of the effective work of managers of industrial enterprises, which is the basis of economic development in modern Russia. The authors suggest that the management of the system of performance indicators in managers in the conditions of realization of various business processes can reduce the risk of crises in the enterprise, and improve the efficiency of labour management and productivity in the company in a whole. According to the authors, improving the efficiency of management in the conditions of implementation of the various business processes of industrial enterprises is an integral element of the overall strategic development of the company. The article presents the results of work performance assessment of managers in the implementation of business process management. In this article there is developed performance business process management on the example of the metal cutting enterprise management levels: the corporate level, the first operational level, the second operational level, and the line level. For these indicators the performers are defined and criteria are given.

Peculiarities of the risk management system organization in current conditions

OpenAIRE

MIKHIN P.O.

2014-01-01

Risk-management system organization problem is topical nowadays. The innovation activity is defined as an activity vulnerable to risk and needs more attention. The basic approaches and elements of organization structure development in risk-management system are considered to find out the best structure for business modelling usage. Balance and combination of risk-management system types are required in current conditions.

Improving SPAWAR PEO C4I Organizational Alignment to Better Enable Enterprise Technical Risk Management

Science.gov (United States)

2017-03-01

dependency requires cross-system risk management . To this end, DOD, as well as businesses in many other industries, are turning toward enterprise...It does not address enterprise risk management . Enterprise risk management is not a new concept, originating in the mid-1990s in private industry...respective university’s business school, the concept of managing risk at an enterprise, or system-of-systems level is also taking hold in the DOD. To

Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle

Directory of Open Access Journals (Sweden)

Dimitris Gavalas

2014-03-01

Full Text Available Credit risk measurement remains a critical field of top priority in banking finance, directly implicated in the recent global financial crisis. This paper examines the dynamic linkages between credit risk migration due to rating shifts and prevailing macroeconomic conditions, reflected in alternative business cycle states. An innovative empirical methodology applies to bank internal rating data, under different economic scenarios and investigates the implications of credit risk quality shifts for risk rating transition matrices. The empirical findings are useful and critical for banks to align to Basel guidelines in relation to core capital requirements and risk-weighted assets in the underlying loan portfolio.

Understanding management practices in business incubators

NARCIS (Netherlands)

Blok, Vincent; Thijssen, Sander; Pascucci, Stefano

2017-01-01

Following the call for process-oriented research on business incubation processes, this paper investigates the process of business incubation (BI) via an understanding of management practices and interactions. Based on a comprehensive literature review and empirical evidence of management practices

RISK MANAGEMENT USING PROJECT RECON

Science.gov (United States)

2016-11-28

centralized database . • Project Recon (formerly Risk Recon) is designed to be used by all Program Management Offices, Integrated Project Teams and any...Create growth plans to proactively capture benefits • Customize reports to group opportunities by programmatic, technical, business, contracting, and

When Do Companies Need a Board-Level Risk Management Committee?

OpenAIRE

Choi, Ivan

2013-01-01

Risk management is nothing new. But the global financial crisis and corporate failures in recent years have put risk management in the spotlight. Who is ultimately responsible for it? Responsibility for risk management should start in the boardroom, as the board is ultimately responsible for the organization's decision making, business performance, and value creation, all of which are asso...

The Danish Journal of Management and Business

DEFF Research Database (Denmark)

Bukh, Per Nikolaj; Klausen, Kurt Klaudi; Minbaeva, Dana

2015-01-01

The editorial board of the Danish Journal of Management and Business has gone through a few recent changes. In 2014 the board was supplemented with professor Dana Minbaeva from Department of Strategic Management and Globalization at Copenhagen Business School and professor Niels Peter Mols from...... Department of Economics and Business at Aarhus University. Further, from this issue the Journals Editorin-Chief, professor Flemming Poulfelt from Department of Management, Politics and Philosophy at Copenhagen Business School, will be stepping down from the editorial board and Per Nikolaj Bukh from Aalborg...

Appraising longitudinal trends in the strategic risks cited by risk managers in the international water utility sector, 2005-2015.

Science.gov (United States)

Chalker, Rosemary T C; Pollard, Simon J T; Leinster, Paul; Jude, Simon

2018-03-15

We report dynamic changes in the priorities for strategic risks faced by international water utilities over a 10year period, as cited by managers responsible for managing them. A content analysis of interviews with three cohorts of risk managers in the water sector was undertaken. Interviews probed the focus risk managers' were giving to strategic risks within utilities, as well as specific questions on risk analysis tools (2005); risk management cultures (2011) and the integration of risk management with corporate decision-making (2015). The coding frequency of strategic (business, enterprise, corporate) risk terms from 18 structured interviews (2005) and 28 semi-structured interviews (12 in 2011; 16 in 2015) was used to appraise changes in the perceived importance of strategic risks within the sector. The aggregated coding frequency across the study period, and changes in the frequency of strategic risks cited at three interview periods identified infrastructure assets as the most significant risk over the period and suggests an emergence of extrinsic risk over time. Extended interviews with three utility risk managers (2016) from the UK, Canada and the US were then used to contextualise the findings. This research supports the ongoing focus on infrastructure resilience and the increasing prevalence of extrinsic risk within the water sector, as reported by the insurance sector and by water research organisations. The extended interviews provided insight into how strategic risks are now driving the implementation agenda within utilities, and into how utilities can secure tangible business value from proactive risk governance. Strategic external risks affecting the sector are on the rise, involve more players and are less controllable from within a utility's own organisational boundaries. Proportionate risk management processes and structures provide oversight and assurance, whilst allowing a focus on the tangible business value that comes from managing strategic

Hybrid Risk Management Methodology: A Case Study

Directory of Open Access Journals (Sweden)

Jacky Siu-Lun Ting

2009-10-01

Full Text Available Risk management is a decision-making process involving considerations of political, social, economic and engineering factors with relevant risk assessments relating to a potential hazard. In the last decade, a number of risk management tools are introduced and employed to manage and minimize the uncertainty and threats realization to the organizations. However, the focus of these methodologies are different; in which companies need to adopt various risk management principles to visualize a full picture of the organizational risk level. Regarding to this, this paper presents a new approach of risk management that integrates Hierarchical Holographic Modeling (HHM, Enterprise Risk Management (ERM and Business Recovery Planning (BCP for identifying and assessing risks as well as managing the consequences of realized residual risks. To illustrate the procedures of the proposed methodology, a logistic company ABC Limited is chosen to serve as a case study Through applying HHM and ERM to investigate and assess the risk, ABC Limited can be better evaluated the potential risks and then took the responsive actions (e.g. BCP to handle the risks and crisis in near future.

Possibilities and tools of business crisis management during the natural crisis

OpenAIRE

Bosáková, Renáta

2009-01-01

This work analyses disposable tools of business crisis management to manage crisis which are induced by natural threats and it considers possibilities of these methods using. On basis of performed analysis then in the practical part it uses the acceptable methods and tools to look for threats and risks of the firm and suggests optimal structure of crisis plan.

Business unknowns shape oil industry risks

International Nuclear Information System (INIS)

Pane, R.

1991-01-01

Strategic thinking about an exploration and production program requires a careful assessment of risk, which can be defined as variability in the components of value creation. This article surveys, categorizes, and ranks business risks in the upstream petroleum business. It can serve as a checklist for thinking strategically about an E and P program

Risk and/or resilience management

Directory of Open Access Journals (Sweden)

Jean-Paul Louisot

2015-06-01

Full Text Available Risk management aims at managing all the uncertainties that may interfere with the objectives and missions of the organization. Resilience engineering aims at building its capacity to get over disturbances or stress while keeping the functionalities needed to survive, and possibly thrive. A recently open debate on an Internet blog launched by the risk managers of the Scottish Widows Bank seems to arise from what some professionals see as two competing branches of the management sciences. Whereas through the development of ERM – Enterprise-wide Risk Management – risk management is emerging at last to become a science, as well as an art and a practice, the mentioned above centered on the role of a newly forged name “resilience management”. This opens a new front of the many debates that could derail the path to maturity of Risk Management as a science and reopen new silos much as Business Impact Analysis, BIA, or continuity management, might do if a clear distinction is not made between science, objectives and tools. However, because organizations are so interconnected today in the supply cloud that it is inevitable that they will face catastrophic risk and this is why resilience needs to be a core objective of any risk management plan? Whereas traditional risk management techniques alone may not be adequate to deal with such pervasive and insipient risk scenarios, resilience is ingrained into ERM

The Strategic-Renovation Banks’ Risks Management

Directory of Open Access Journals (Sweden)

Yeremeychuk Raisa A.

2017-04-01

Full Text Available The article is aimed at developing approaches to implementation of the strategic-renovation risk management. Essence of risk theories was researched, the concept of «risk» in the bank’s management system were analyzed. On the basis of a theoretical generalization of scientific literature and the carried out analysis of existing risk management strategies to ensure the security of banking business, the strategy of renovation management has been selected. Because bank risks are part of the economic risk system, they are complex in their nature. However, given the importance of bank risks, the interpretation of their essence is still a debating matter. In a certain number of cases, their essence is replaced by the cause of occurrence, that is, all the different circumstances, factors that lead to the losses. So today, banks are considering risks, in particular, not only as a source of possible losses, but also as an opportunity to generate additional profits. An algorithm for taking a strategic-renovation decision on the banks’ risks management system has been proposed.

Management for the LPG downstream business

International Nuclear Information System (INIS)

Christiansen, C.

1997-01-01

Traditionally the LPG business is regarded as a low-tech area. Safety has always been top priority, but the applied technology in production as well as distribution has by and large not changed much in the course of the business' 60-year-history. Only few has realised that changes are the necessary mark of the future for this business. Internal and external requirements to the management demand a much higher level of information. The trend dictates a future demand for documented safety. This documentation will only become available through introduction of the latest technology in the business. A technology that also provides decision-making tools for the management to ensure the continued optimum operation of the business. (au)

Value-oriented risk management of insurance companies

CERN Document Server

Kriele, Marcus

2014-01-01

Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value- Oriented Risk Management of Insurance Companies focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have...

Seven business models for decision management

NARCIS (Netherlands)

dr. Martijn Zoet; Eline de Haan; Koen Smit

2016-01-01

Research, advisory companies, consultants and system integrators all predict that a lot of money will be earned with decision management (business rules, algorithms and analytics). But how can you actually make money with decision management or in other words: Which business models are exactly

Viability of Event Management Business in Batangas City, Philippine: Basis for Business Operation Initiatives

OpenAIRE

Jeninah Christia D. Borbon

2016-01-01

The research study on Viability of Event Management Business in Batangas City: Basis for Business Operation Initiatives aimed to assess the viability of this type of business using Thompson’s (2005) Dimension of Business Viability as its tool in order to create business operation initiatives. It provided a good framework for defining success factors in entrepreneurial operation initiatives in a specific business type – event management. This study utilized event organizers based i...

Improving Our Odds: Success through Continuous Risk Management

Science.gov (United States)

Greenhalgh, Phillip O.

2009-01-01

Launching a rocket, running a business, driving to work and even day-to-day living all involve some degree of risk. Risk is ever present yet not always recognized, adequately assessed and appropriately mitigated. Identification, assessment and mitigation of risk are elements of the risk management component of the "continuous improvement" way of life that has become a hallmark of successful and progressive enterprises. While the application of risk management techniques to provide continuous improvement may be detailed and extensive, the philosophy, ideals and tools can be beneficially applied to all situations. Experiences with the use of risk identification, assessment and mitigation techniques for complex systems and processes are described. System safety efforts and tools used to examine potential risks of the Ares I First Stage of NASA s new Constellation Crew Launch Vehicle (CLV) presently being designed are noted as examples. Recommendations from lessons learned are provided for the application of risk management during the development of new systems as well as for the improvement of existing systems. Lessons learned and suggestions given are also examined for applicability to simple systems, uncomplicated processes and routine personal daily tasks. This paper informs the reader of varied uses of risk management efforts and techniques to identify, assess and mitigate risk for improvement of products, success of business, protection of people and enhancement of personal life.

Strategic Risk Management and Corporate Value Creation

DEFF Research Database (Denmark)

Andersen, Torben Juul; Roggi, Oliviero

Major corporate failures, periodic recessions, regional debt crises and volatile markets have intensified the focus on corporate risk management as the means to deal better with turbulent business conditions. Hence, the ability to respond effectively to the often dramatic environmental changes...... is considered an important source of competitive advantage. However, surprisingly little research has analyzed if the presumed advantages of effective risk management lead to superior performance or assessed important antecedents of effective risk management capabilities. Here we present a comprehensive study...... of risk management effectiveness and the relationship to corporate performance based on panel data for more than 3,400 firms accounting for over 33,500 annual observations during the turbulent period 1991-2010. Determining effective risk management as the ability to reduce earnings and cash flow...

THE OPERATIONAL RISK MANAGEMENT IN THE ROMANIAN SMEs

Directory of Open Access Journals (Sweden)

Roxana Mironescu

2015-07-01

Full Text Available The prerequisite for the smooth functioning of the business risk management is the correct identification. Basically, identifying business risks is fundamental to determine the optimal level of protection for a given activity. If the risk is underestimated, the protection will be insufficient to cover losses and, if overstated, the cost of protection will reduce the excess proceeds of the activity. The objective of this research was to identify the internal and external major factors which influence the present activities and the future of the SMEs from the North East region The method used in this paper work is based on a questionnaire applied to a sample of 120 top managers coming from various fields of activity, operating on the market for more than two years. The management of information and the data collection was conducted in the late 2013. In the first stage, a total of 35 risks was identified. The further evaluation of the results used the probability and the impact of the identified risks, based on questionnaires and by processing information from the documentation provided by the managers of SMEs taken under the analysis.

Business process of reputation management of food industry enterprises

Directory of Open Access Journals (Sweden)

Derevianko Olena. H.

2014-01-01

Full Text Available The goal of the article is development of the methodical base of reputation management directed at formalisation of theoretical provisions and explanation how to organise reputation management at food industry enterprises. The article shows prospectiveness of use of the Business Process Management concept in reputation management. Using the diagram of the Reputation Management business process environment the article shows its key participants (suppliers and clients of the business process and identifies their place in formation of the enterprise reputation. It also shows that the reputation management should be considered a business process of the highest level of management. Construction of the flow structure of the Reputation Management business process allows uncovering the logic of interrelation of inlets and outlets within the framework of the specified main stages of the business process: assessment of the current state of reputation, collection of information about stakeholders, identification of PR strategy goals, planning of necessary resources, realisation of the PR strategy, assessment of efficiency and process monitoring. The article offers the flow, functional and organisational structures of the Reputation Management business process for food industry enterprises. Moreover, justification of functional and organisational structures of the Reputation Management business process gives a possibility to distribute functions of reputation management between specific executors and establish responsibility for each stage of the business process.

Risk management strategies by Australian farmers: two case studies

OpenAIRE

Nguyen, Nam C.; Wegener, Malcolm K.; Russell, Iean W.; Cameron, Donald; Coventry, David; Cooper, Ian M.

2007-01-01

Australian farmers operate in one of the most risky farming environments in the world. They have to cope with numerous sources of risk including weather uncertainty, variable market prices, and institutional changes in their business management. This paper reports results from two case studies undertaken to examine the issues of farming risks and risk management strategies in Australia. The first case study found that unpredictable weather, financial risk, marketing risk, and personal risk we...

Risk management and analysis: risk assessment (qualitative and quantitative)

OpenAIRE

Valentin Mazareanu

2007-01-01

We use to define risk as the possibility of suffering a loss. Starting this, risk management is defined as a business process whose purpose is to ensure that the organization is protected against risks and their effects. In order to prioritize, to develop a response plan and after that to monitor the identified risks we need to asses them. But at this point a question is born: should I choose a qualitative approach or a quantitative one? This paper will make a short overview over the risk eva...

CUSTOMER RELATIONSHIP MANAGEMENT IN BUSINESS-TO-BUSINESS MARKETING: EXAMPLE OF TOURISM SECTOR

Directory of Open Access Journals (Sweden)

Demet TUZUNKAN

2018-04-01

Full Text Available The aim of this study is to demonstrate how customer relationship management systems are implemented in tourism companies that do business-tobusiness marketing. The study firstly tries to explain the concepts of business-tobusiness marketing and customer relations management. The existence and implementation of customer relationship management systems, particularly in business-oriented organizations, is crucial in order to make a difference in the globalizing world where competition conditions are gradually increasing. In order to achieve this, it has been evaluated how the customer relationship management systems are formed, how they are implemented, and what advantages they provide by conducting interviews with the employees in the companies that are business-tobusiness marketing in tourism sector and business areas. In methodology, semistructured interview technique has been used which enables qualitative data collection as a method in order to reach the goal of the study. As a result of the interviews and research, it has been established that customer relations management in B2B tourism companies is quite vital to be more productive, work efficiently, support marketing activities considerably and therefore increase the sales volume.

Business History and Management Studies

OpenAIRE

Álvaro-Moya, Adoración; Donzé, Pierre-Yves

2016-01-01

This article traces back the origins and nature of business history to stress its potential to dialogue with other social sciences and, in particular, with management studies. It also summarizes the main current trends in business history research to later propose the research lines that editors would like to promote from an interdisciplinary approach and in the direction of a fruitful exchange with scholars active in management and organization studies.

Teaching Small Business Ownership and Management

Science.gov (United States)

Leach, James A.

1977-01-01

Topics discussed include integrating small business ownership with existing programs; establishing awareness, exploration, and orientation activities; and preparation for small business ownership. A curriculum guide developed for teaching small business ownership and management is also described. (TA)

A new approach in Business Process Management

OpenAIRE

Hurbean, Luminita

2008-01-01

The new wave of BPM (Business Process Management) is not Business Process Reenginering, enterprise application integration, workflow management or another packaged application – it's the synthesis and extension of all these technologies and techniques into a unified whole. This unified whole becomes a new foundation upon which the enterprise is built, an enterprise more in tune with the true nature of business processes and their management. In a competitive economy, where margins continu...

Enterprise risk management today's leading research and best practices for tomorrow's executives

CERN Document Server

Simkins, Betty J

2010-01-01

Essential insights on the various aspects of enterprise risk management If you want to understand enterprise risk management from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management is the book for you. Through in–depth insights into what practitioners of this evolving business practice are actually doing as well as anticipating what needs to be taught on the topic, John Fraser and Betty Simkins have sought out the leading experts in this field to clearly explain what enterprise risk management is and how you can teach, learn, and implement these leading practices within the context of your business activities. In this book, the authors take a broad view of ERM, or what is called a holistic approach to ERM. Enterprise Risk Management introduces you to the wide range of concepts and techniques for managing risk in a holistic way that correctly identifies risks and prioritizes the appropriate responses. This invaluable guide offers a broad overview of...

Risk Management in Supply Chain using Consistent Fuzzy Preference Relations

OpenAIRE

Ahmad Jafarnejad; Mehran Ebrahimi; Mohammad Ali Abbaszadeh; Seyed Mehdi Abtahi

2014-01-01

Nowadays, supply chains are exposed to numerous risks. Thus, to success in risky business environment, it is imperative for firms to systematically manage supply chain risks. Risk management is the identification, assessment, and prioritization of supply chain risks. The purpose of this paper is to propose a comprehensive approach to risk management in supply chains. Thus, by an appropriate review of the literature, supply chain risk sources are identified in six areas. Then, a CFPR method is...

Knowledge Management Challenges For Global Business

OpenAIRE

Veli Denizhan Kalkan

2011-01-01

Managing organizational knowledge effectively is a prerequisite for securing competitive advantages in the global marketplace. The field of knowledge management brings out important challenges for global business practices. Based on a comprehensive academic and popular literature review, this paper identifies six main knowledge management challenges faced by global business today. These are developing a working definition of knowledge, dealing with tacit knowledge and utilization of informati...

The Research on Safety Management Information System of Railway Passenger Based on Risk Management Theory

Science.gov (United States)

Zhu, Wenmin; Jia, Yuanhua

2018-01-01

Based on the risk management theory and the PDCA cycle model, requirements of the railway passenger transport safety production is analyzed, and the establishment of the security risk assessment team is proposed to manage risk by FTA with Delphi from both qualitative and quantitative aspects. The safety production committee is also established to accomplish performance appraisal, which is for further ensuring the correctness of risk management results, optimizing the safety management business processes and improving risk management capabilities. The basic framework and risk information database of risk management information system of railway passenger transport safety are designed by Ajax, Web Services and SQL technologies. The system realizes functions about risk management, performance appraisal and data management, and provides an efficient and convenient information management platform for railway passenger safety manager.

Business Principles and Management. Curriculum Guidelines.

Science.gov (United States)

Clemson Univ., SC. Vocational Education Media Center.

This senior high school curriculum guide offers a general overview of the American business system and a study of various forms of business ownership, internal organization and management functions of business, and the financing of business. Ten areas are explored in the course: (1) capitalism; (2) money, credit, and banking; (3) government and…

Computer applications in radiology business management

International Nuclear Information System (INIS)

Pratt, J.; Parrish, D.; Butler, J.; Gregg, S.; Farley, G.

1987-01-01

This presentation focuses on two areas of prime importance to radiology business management: financial/accounting applications and computer networking. The business management portion is an overview of accounts receivable management, financial reporting, management reporting, budgeting and forecasting (including cost/benefit analysis and break-even analysis), and personal and/or financial tax planning. The networking portion focuses on telecommunications and considers satellite facilities, electronic claims submission, and national database networking. Both numeric and graphic summaries are demonstrated in the presentation

Trust-Based Information Risk Management in a Supply Chain Network

OpenAIRE

Yanjun Zuo; Wen-Chen Hu

2009-01-01

Information risk management is crucial for an organization operating in an increasingly integrated and intensively communicated environment to mitigate risks and ensure core business functions. Given the open and dynamic nature of a supply chain network, information risk management is challenging and various factors must be considered. This article introduces a trust-based approach to facilitate supply chain participants to perform effective risk management. The major components of the propos...

BUSINESS PROCESS MODELLING: A FOUNDATION FOR KNOWLEDGE MANAGEMENT

Directory of Open Access Journals (Sweden)

Vesna Bosilj-Vukšić

2006-12-01

Full Text Available Knowledge management (KM is increasingly recognised as a strategic practice of knowledge-intensive companies, becoming an integral part of an organisation's strategy to improve business performance. This paper provides an overview of business process modelling applications and analyses the relationship between business process modelling and knowledge management projects. It presents the case study of Croatian leading banks and the insurance company, discussing its practical experience in conducting business process modelling projects and investigating the opportunity for integrating business process repository and organisational knowledge as the foundation for knowledge management system development.

Implications of business ethics for quality management

NARCIS (Netherlands)

Fisscher, O.A.M.; Nijhof, A.H.J.

2005-01-01

In the academic world research in the fields of quality management and business ethics are often separated. One reason for this is that the origins are very different; business ethics stemming from philosophy while quality management has developed from management studies. With the present

Audit Manager Risk Behaviour in a Global Economy – a Research of the Theories on the Determinants of Risk Behaviour

OpenAIRE

Ionescu Iancu Octavian

2010-01-01

In an increasingly globalised economy, the quality and professionalism of business decisions are intrinsically linked to the risk behaviour of decision makers. The business decision makers are usually faced with a degree of uncertainty when they have to assess risk and make decisions. This paper examines risk behaviour from an audit firm manager perspective and from an academic perspective. The emphasis is on the managerial risk behaviour in business decision making. The research objective is...

Using Student Managed Businesses to Integrate the Business Curriculum

Science.gov (United States)

Massad, Victor J.; Tucker, Joanne M.

2009-01-01

To teach business today requires that we go beyond classroom learning and encourage real world, cross-functional experiences and applied management decision-making. This paper describes an innovative approach that requires students to apply their function-specific knowledge of business, integrated with other functional areas, to an authentic…

Business History and Management Studies

Directory of Open Access Journals (Sweden)

Adoración Álvaro-Moya

2016-01-01

Full Text Available This article traces back the origins and nature of business history to stress its potential to dialogue with other social sciences and, in particular, with management studies. It also summarizes the main current trends in business history research to later propose the research lines that editors would like to promote from an interdisciplinary approach and in the direction of a fruitful exchange with scholars active in management and organization studies.

Risk hedging against the fuel price fluctuation in energy service business

International Nuclear Information System (INIS)

Bannai, Masaaki; Tomita, Yasushi; Ishida, Yasushi; Miyazaki, Takahiko; Akisawa, Atsushi; Kashiwagi, Takao

2007-01-01

Energy service business, or energy service company (ESCO), is expanding among industrial users as a means of energy saving. The ESCO business normally tends to become a long-term operation. During the operation, fluctuations of fuel and electricity costs significantly impact on the stability of the profit from ESCO business. Therefore, it is essential to reduce the risk of fuel and electricity cost fluctuations. Generally, a transaction called ''financial derivative'' is used as a measure of hedging against the fuel price fluctuation. In the case of ESCO business, it is necessary to manage the risk of both electricity and fuel price fluctuations because the variation in electricity price strongly affects the profit from ESCO as that in fuel price does. In this paper, the stabilization of the ESCO profit using financial derivatives was discussed by quantitative analyses of the actual data from existing plants. Case studies revealed that the appropriate volume of the fuel derivative implementation was less than a half of the fuel consumption at the ESCO facilities, and it ranged from 5% to 50%. (author)

Risk Management and Risk Psychology in Romanian Sme’s

Directory of Open Access Journals (Sweden)

Irina Dănciulescu

2015-12-01

Full Text Available Risk is one of the biggest and most fascinating challenges of all times for humanity, because of its presence in all fields. Risk management as a component of modern management, has become a main concern for the modern world and one of the “key mechanisms” of economic development, a complex processn that includes a series of activities meant to alleviate the impact of risk over business and planed or foreseen results. This paper wants to bring to attention the importance of risks and their management in today’s economic crisis. The sector presented is the IT& C, especially software, because Romania had a growth in this area for a few years but beginning the crisis this segment in economy had known a serious decrease. This paper tries to connect risk management and risk psychology to Romanian economy, culture and mentality. The paper presents in short some of risk management characteristics, definitions and few opinions; why in Romania this subject is not treated with the appropriate attention. The paper at hand focuses on the psychology of risk and how it affects the life of individuals and the existence of companies, the importance it should have on day to day basis, especially in Romania

Assessment of the Business Administration and Business Management Programs.

Science.gov (United States)

Forestieri, Kathleen; Karlen, Janice; Coiro, Robert; Gabriel, Theodore; Leff, Elaine; Silverman, Barry; Wertheimer, David

This document presents City University of New York LaGuardia Community College's Department of Accounting and Managerial Studies assessment of its business and administration and business management programs report, and includes the following items: (1) a description of the mission and goals of the Department of Accounting and Managerial Studies;…

From CSR to Social Risk Management

DEFF Research Database (Denmark)

Taarup Esbensen, Jacob

2014-01-01

When it comes to social risks multinational companies (MNC) within Mining are one of the most exposed businesses one can imagine. This paper examines how social risk management is practiced through the case of Teghout copper-molybdenum mine in North- Eastern Armenia, supplemented with evidence from...... other mining MNCs in the country, onsite fieldwork, interviews with key stakeholders, and public available information. This evidence suggest that a standards based social risk management strategy is adopted and that this strategy is based on international Corporate Social Responsibility (CSR) standards...... engagement management systems that is promoted through the standard. The implemented social risk management systems are ineffective because they makes the MNC unable to recognise the value of weak ties and fail to build legitimacy and trust with some of the key stakeholders resulting in the creation of more...

BUSINESS NEGOTIATION IN MANAGEMENT

Directory of Open Access Journals (Sweden)

Svetlana Trajković

2014-10-01

Full Text Available Every day we are faced with some form of negotiation. Negotiation is a means of communication between two or more persons with the aim of achieving an adequate agreement that will be acceptable to both sides. Successful business negotiation in management is used in organizations of all types and sizes, at all organizational levels and in all sectors of business throughout the world. Management shall in all circumstances to plan, organize, lead and control in different ways according to their managerial position as well as the knowledge, abilities and skills that they possessed. Negotiation is an important part of communication which results should contribute to increasing the efficiency of business organizations. Any experienced negotiator in negotiation process has consciously and deliberately, and has a strategy of negotiation. The strategy represents a proactive approach to the negotiations, and the approach aims to influence the course of negotiations.

Risk management on the winegrowing farms at Northwest Croatia

Directory of Open Access Journals (Sweden)

Hrvoje SMRKULJ

2016-02-01

Full Text Available The main goal of this paper was to determine perceptions of risk and risk management strategies by winemakers. Primary research was based on the sample of 38 randomly selected winegrowers in the Croatian northwestern sub region of Zagorje – Međimurje. Winegrowers are relatively unwilling to take risks. In the process of making business decisions most of them rely on their own experience, advices and recommendations learned by attending winegrower association courses together with critics of their customers. Highly evaluated risk sources are health issues (human risks and production risks (weather factors, as well as diseases and pests. As the most important risk management strategies in vineyard production, the winegrowers emphasized: ownership of land and objects, intuition and personal assessment and additionally the various methods of price risk management (marketing and sales policy. Crop insurance is perceived as a relatively important strategy. The main reasons why winegrowers use crop insurance are: regional exposure to extreme climate risks, as well as the unavailability of other management instruments for risk management. In order to improve the quality of insurance services it would be necessary to focus efforts and activities on promoting and developing a better system for agricultural insurance. That would consequently allow enrichment of insurance risk sources palette, but also could have effect on decrease of insurance premiums. Furthermore, in order to become competitive in both, domestic and EU market, there should be developed training programs in the area of risk management. That could have impact on reducing risk aversion in the business activities!

Managing Risks in Business Critical Outsourcing : A Perspective from the Outsourcer and the Supplier

OpenAIRE

Malmgren, Mike

2010-01-01

Companies are increasingly outsourcing business critical activities to suppliers of outsourcing services. As the complexity and business  criticality of the outsourced activities increases, the risk of poor performance increases. This thesis studies large scale outsourcing in the telecom industry where a recent trend is to transfer the development, operation and maintenance of the telecom infrastructure to telecom equipment suppliers. The significance of this type of outsourcing is that the o...

AN OVERVIEW ON STATE OF KNOWLEDGE OF RISK AND RISK MANAGEMENT IN ECONOMICS FIELDS

Directory of Open Access Journals (Sweden)

Mirela NICHITA

2015-04-01

Full Text Available The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not and complexity of tools for risk assessment developed over time. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a coherent risk management strategy may improve entity capital structure which will derive in a healthy financing policy. The risk and risk management field has been developed merely after the second world war and creates the favourable context of a new C position in business chart – Chief Risk Officer. The paper will explore the etymology of term risk correlated with the uncertainty. Research on risk and risk management is not possible without taking into account the derivatives market.

Problematizing "Risk" and the Principalship: The Risky Business of Managing Risk in Schools

Science.gov (United States)

Starr, Karen

2012-01-01

Over the past two decades, risk in education has stimulated increasing attention and prominence, with principals bearing responsibility and liability for "managing" risk in schools. As a consequence, compulsory risk compliance regimes have become increasingly complex, technical and time-consuming. This article focuses on the responses of…

FINANCIAL RISK MANAGEMENT IN TRADE BANKS

Directory of Open Access Journals (Sweden)

Ms. Tamara Ye. Kononenko

2016-09-01

Full Text Available The paper clarifies the concepts of «risk», «financial risk» in banking business, and considers the main problems of financial risk management in trade banks while financing borrowers. The authors single out the most relevant problems, and conduct the analysis of overdue payment in case of OJSC “Sberbank of Russia”. The authors also offer a number of measures to minimize financial risks in trade bank activities in modern conditions.

Risk management and internal audit: Evidence from Greece

Directory of Open Access Journals (Sweden)

George Drogalas

2017-07-01

Full Text Available Risk management is ranked by financial executives as one of their most important objectives. For this reason, a wide range of literature on risk management has been developed. Within this fluid business environment, internal audit plays a key role in monitoring a company’s risk profile and identifying areas for improving risk management processes. The purpose of this study is to provide a comprehensive overview of the factors that impact on risk management regarding internal audit function. Empirical evidence was collected by means of a mailed survey. Regression analysis is used in order to illustrate the information gathered. Consistent with theory and our expectations, the results indicate that internal audit, internal auditor and added value of internal audit are statistically significantly associated with risk management.

The strategic skills of business continuity managers: putting business continuity management into corporate long-term planning.

Science.gov (United States)

Wong, Wei Ning Zechariah

2009-11-01

Despite its rapid development in the last two decades, business continuity management (BCM) as a discipline and a profession is still regarded by many as an operational entity of management. Two main issues are discussed in this paper: the role of BCM in strategic management and the strategic skills of business continuity managers. These issues are crucial as they represent the role of BCM in high-level corporate management. The paper discusses the importance of BCM in the long-term planning of organisational success and the preservation of future competitiveness. Finally, salient points that underpin the importance of its role in sustaining organisational performance are addressed.

COMMUNICATION SKILLS, A SOLUTION DIMINISHING RISKS IN INTERNATIONAL BUSINESS

Directory of Open Access Journals (Sweden)

Anisoara Duica

2015-05-01

Full Text Available According to the latest approaches in the field, the integrated marketing communication requires a planned organizational approach, creating and maintaining in time good relations with the customers of its products or services, but also with its other stakeholders. According to the data provided by the National Statistics Institute (INS, the year 2014 is the first year in history when the Romanian exports exceeded the amount of EUR 50 billion. However, within the context of the economic crisis, numerous Romanian brands have disappeared from the market and Romania risks becoming a simple outlet market if the local companies do not improve their communication processes and skills, as sources of competitive advantage by which the Romanian products and services may differ in relation to those of the E.U. member countries. Within the context of business globalization and of the knowledge society, the present paper is trying to identify ways of developing the communication skills, which can be integrated in a formal risk management system, allowing the decrease of the risks triggered by the cultural differences specific of communication in international business.

Safety Culture: A Requirement for New Business Models — Lessons Learned from Other High Risk Industries

International Nuclear Information System (INIS)

Kecklund, L.

2016-01-01

Technical development and changes on global markets affects all high risk industries creating opportunities as well as risks related to the achievement of safety and business goals. Changes in legal and regulatory frameworks as well as in market demands create a need for major changes. Several high risk industries are facing a situation where they have to develop new business models. Within the transportation domain, e.g., aviation and railways, there is a growing concern related to how the new business models may affects safety issues. New business models in aviation and railways include extensive use of outsourcing and subcontractors to reduce costs resulting in, e.g., negative changes in working conditions, work hours, employment conditions and high turnover rates. The energy sector also faces pressures to create new business models for transition to renewable energy production to comply with new legal and regulatory requirements and to make best use of new reactor designs. In addition, large scale phase out and decommissioning of nuclear facilities have to be managed by the nuclear industry. Some negative effects of new business models have already arisen within the transportation domain, e.g., the negative effects of extensive outsourcing and subcontractor use. In the railway domain the infrastructure manager is required by European and national regulations to assure that all subcontractors are working according to the requirements in the infrastructure managers SMS (Safety Management System). More than ten levels of subcontracts can be working in a major infrastructure project making the system highly complex and thus difficult to control. In the aviation domain, tightly coupled interacting computer networks supplying airport services, as well as air traffic control, are managed and maintained by several different companies creating numerous interfaces which must be managed by the SMS. There are examples where a business model with several low

Disaster Management System as an Element of Risk Management for Natural Disaster Systems Using the PESTLE Framework

OpenAIRE

Sarwar, D; Ramachandran, M; Hosseinian Far, A

2017-01-01

Recently, we have witnessed so many natural catastrophes such as earthquakes in Japan, severe floods in the UK, US and many other parts of the world. Consequently businesses have been losing tens of billions of dollars as a result of various natural and man-made disasters. Disaster Management System (DMS) have proven to be important means for reducing risks associated with such damages to businesses. A DMS can minimize and in some cases, eliminates the risks through technical, management or o...

Small Business Management Training Tools Directory.

Science.gov (United States)

American Association of Community and Junior Colleges, Washington, DC. National Small Business Training Network.

This directory is designed to assist in the identification of supplementary materials to support program development for small businesses. Following introductory comments and an overview of small business management training, section I lists training tools available from the Small Business Administration (SBA). Section II provides descriptions and…

A Risk Management Approach for a Sustainable Cloud Migration

Directory of Open Access Journals (Sweden)

Alifah Aida Lope Abdul Rahman

2017-11-01

Full Text Available Cloud computing is not just about resource sharing, cost savings and optimisation of business performance; it also involves fundamental concerns on how businesses need to respond on the risks and challenges upon migration. Managing risks is critical for a sustainable cloud adoption. It includes several dimensions such as cost, practising the concept of green IT, data quality, continuity of services to users and clients, guarantee tangible benefits. This paper presents a risk management approach for a sustainable cloud migration. We consider four dimensions of sustainability, i.e., economic, environmental, social and technology to determine the viability of cloud for the business context. The risks are systematically identified and analysed based on the existing in house controls and the cloud service provider offerings. We use Dempster Shafer (D-S theory to measure the adequacy of controls and apply semi-quantitative approach to perform risk analysis based on the theory of belief. The risk exposure for each sustainability dimension allows us to determine the viability of cloud migration. A practical migration use case is considered to determine the applicability of our work. The results identify the risk exposure and recommended control for the risk mitigation. We conclude that risks depend on specific migration case and both Cloud Service Provider (CSP and users are responsible for the risk mitigation. Inherent risks can evolve due to the cloud migration.

Writing business communications. Are nurse managers prepared?

Science.gov (United States)

Spears, L A

1997-12-01

Based on interviews, this study indicates that writing business communications is a key task for nurse managers, affecting their professional success and power. However, most of the nurse managers interviewed felt they needed more education in business communications. Several ways of bringing this training to nursing students and practicing managers are suggested.

Risk Management in the banking and insurance sector

Directory of Open Access Journals (Sweden)

Ibrahim Mala

2018-03-01

Full Text Available Risk management is becoming an integral part of every organization, especially for the banking and Insurance sector because of their high-risk business. Both sectors try to manage the risks of their clients and their own risks. But, challenges in the banking and insurance industry are frequently influenced by the liquidity rations and the amount and quality of capital as ground requirements for risk management. The risk exposure in recent times is becoming more complex, more dynamic and diverse. Hence, we need to understand the risks which can be taken and the risks which should be avoided. In the other side insurance policies are long term, enabling insurers to stabilize the financial system and oft en insurance is the final transfer of risk. In this paper we will analyze an overview of risk management in the banking and insurance sector.

The Role of Standardization in Improving the Effectiveness of Integrated Risk Management

OpenAIRE

Ciocoiu, Carmen Nadia; Dobrea, Razvan Catalin

2010-01-01

The need of standardization in risk management is justified by the efforts to develop and introduce, during the last few years, integrated risk management frameworks inside the organizations. The financial crisis has underscored the fact that significant improvements in risk management organizations and capabilities are required. The business community and also the experts recognize that the risk management standards have an important role in improving the effectiveness of integrated risk man...

Applying business intelligence innovations to emergency management.

Science.gov (United States)

Schlegelmilch, Jeffrey; Albanese, Joseph

2014-01-01

The use of business intelligence (BI) is common among corporations in the private sector to improve business decision making and create insights for competitive advantage. Increasingly, emergency management agencies are using tools and processes similar to BI systems. With a more thorough understanding of the principles of BI and its supporting technologies, and a careful comparison to the business model of emergency management, this paper seeks to provide insights into how lessons from the private sector can contribute to the development of effective and efficient emergency management BI utilisation.

Organizational agility key factors for dynamic business process management

OpenAIRE

Triaa , Wafa; Gzara , Lilia; Verjus , Hervé

2016-01-01

International audience; For several years, Business Process Management (BPM) is recognized as a holistic management approach that promotes business effectiveness and efficiency. Increasingly, corporates find themselves, operating in business environments filled with unpredictable, complex and continuous change. Driven by these dynamic competitive conditions, they look for a dynamic management of their business processes to maintain their processes performance. To be competitive, companies hav...

An Application of Business Process Management to Health Care Facilities.

Science.gov (United States)

Hassan, Mohsen M D

The purpose of this article is to help health care facility managers and personnel identify significant elements of their facilities to address, and steps and actions to follow, when applying business process management to them. The ABPMP (Association of Business Process Management Professionals) life-cycle model of business process management is adopted, and steps from Lean, business process reengineering, and Six Sigma, and actions from operations management are presented to implement it. Managers of health care facilities can find in business process management a more comprehensive approach to improving their facilities than Lean, Six Sigma, business process reengineering, and ad hoc approaches that does not conflict with them because many of their elements can be included under its umbrella. Furthermore, the suggested application of business process management can guide and relieve them from selecting among these approaches, as well as provide them with specific steps and actions that they can follow. This article fills a gap in the literature by presenting a much needed comprehensive application of business process management to health care facilities that has specific steps and actions for implementation.

Conjoint Management of Business Processes and Information Technologies

DEFF Research Database (Denmark)

Siurdyban, Artur

and improve business processes. As a consequence, there is a growing need to address managerial aspects of the relationships between information technologies and business processes. The aim of this PhD study is to investigate how the practice of conjoint management of business processes and information...... technologies can be supported and improved. The study is organized into five research papers and this summary. Each paper addresses a different aspect of conjoint management of business processes and information technologies, i.e. problem development and managerial practices on software...... and information technologies in a project environment. It states that both elements are intrinsically related and should be designed and considered together. The second case examines the relationships between information technology management and business process management. It discusses the multi-faceted role...

Scenario logic and probabilistic management of risk in business and engineering

CERN Document Server

Solojentsev, Evgueni D

2009-01-01

The book proposes a uniform logic and probabilistic (LP) approach to risk estimation and analysis in engineering and economics. It covers the methodological and theoretical basis of risk management at the design, test, and operation stages of economic, banking, and engineering systems with groups of incompatible events (GIE). It considers the risk LP-models in classification, investment, management of companies, bribes and corruption, analysis of risk and efficiency of social and economical processes, and management of development. Key features of this Second Edition: -Five new chapters -Treatment of the basic principles of the modern risk LP theory (the LP-calculus, the LP-methods and the risk LP-theory with GIE) using uniform methodology and terminology with a practical orientation towards both engineering and economics, for the first time in book form -Clear definitions and notations, revised sections and chapters, an extended list of references, and a new subject index -More than a hundred illustrations a...

Risk Management: An Analysis of Issues in Islamic Financial Industry (Occasional Paper)

OpenAIRE

Khan, Tariqullah; Ahmed, Habib

2001-01-01

The paper discusses a number of risk management issues of the Islamic financial industry. It outlines the risk management processes and techniques that enable financial institutions to control undesirable risks and to take benefit of the business opportunities created by the desirable ones.

System of business-processes management at motor-transport enterprise

OpenAIRE

Коgut, Y.

2010-01-01

The place of the system of business-processes management at motor-transport enterprise in the general system of management of the enterprise has been substantiated. The subsystems of strategic management, business-processes management of strategic orientation and current activity, processes of enterprise functioning management have been marked out. The system of motor-transport enterprise business-processes management has been formed, which, unlike the existing ones, is based on the system-cy...

The Reputation Crisis: Risk Management Based Logical Framework to the Corporate Sustainability

OpenAIRE

Yilmaz, Ayse Kucuk; Kucuk, Ferziye

2010-01-01

Risk is a constituent part of both the business and the society in which we survive. Reputation is valuable assest for corporates in sustainable way. Integrating risk management with strategy-setting, such as an enterprise risk management (ERM) approach, helps an organization manage its risks to protect and enhance enterprise value in three ways. First, it helps to establish sustainable competitive advantage. Second, it optimizes the cost of managing risk. Third, it helps management improve b...

Business corruption, uncertainty and risk aversion

OpenAIRE

Tina Søreide

2006-01-01

The presence of business-corruption in a market provokes firms to make choices between legal business approaches and illegal bribery. The outcome of a chosen strategy will usually be uncertain at the time the decision is made, and a firm's decision will depend partly on its attitude towards risk. Drawing on the empirical data provided by a survey of 82 Norwegian exporting businesses, the paper proposes a theory about firm's choices between legal and illegal business practices. It begins by de...

Environmental management of business processes

Directory of Open Access Journals (Sweden)

Vesna Čančer

2000-01-01

Full Text Available Since the decision-makers in enterprises will accept the goals of environmental management only if they are motivated enough, comprehensible and useful tools should be generated to support environmentally oriented business decision-making. For that reason, a general optimisation model of the multiphase business process is presented in this paper. This model includes the possibilities for an integrated approach to environmental protection so that it can be applied as a scenario by the business process simulation for the evaluation of environmentally oriented business decisions on business performance. Furthermore, development and application possibilities of the presented model are introduced. Some measures of resource efficiency are developed using the presented optimisation model.

A proposed operational risk management framework for small and medium enterprises

Directory of Open Access Journals (Sweden)

Micheline J. Naude

2017-12-01

Full Text Available Background: The gap between small and medium-sized enterprises (SMEs and large businesses that perform risk assessment is significant. SMEs continuously face many operational risks and uncertainties in their daily operations, and these risks threaten to reduce productivity, increase costs and reduce profits. Aim: The purpose of this article was to develop an operational risk management framework that SMEs can use to identify and analyse risks in their operations and take corrective actions to mitigate these risks. Setting: Small and medium-sized enterprises in South Africa do not view risk management as a key component of organisational success, despite evidence that businesses that adopt risk management strategies are more likely to survive and grow. Methods: The article is exploratory in nature, and a conceptual analysis approach was used to formulate the framework. This study reviewed relevant literature sources on risk published between 2002 and 2017. Results: The four process steps of risk management were used as a reference point and form the foundation for the operational risk management framework. The categories of operational; marketing; technical and financial risks were identified from a review of available literature on risk management. Conclusion: There is a dearth of research that deals with operational risk management frameworks for SMEs. The expected contribution of this article, therefore, is twofold: firstly, it is envisaged that managers or owners of SMEs could use the proposed framework as a tool to appraise and minimise their operational risks; secondly, it will add to the current body of knowledge on risk appraisal for SMEs.

Business process of reputation management of food industry enterprises

OpenAIRE

Derevianko Olena. H.

2014-01-01

The goal of the article is development of the methodical base of reputation management directed at formalisation of theoretical provisions and explanation how to organise reputation management at food industry enterprises. The article shows prospectiveness of use of the Business Process Management concept in reputation management. Using the diagram of the Reputation Management business process environment the article shows its key participants (suppliers and clients of the business process) a...

Method for Business Process Management System Selection

NARCIS (Netherlands)

Thijs van de Westelaken; Bas Terwee; Pascal Ravesteijn

2013-01-01

In recent years business process management (BPM) and specifically information systems that support the analysis, design and execution of processes (also called business process management systems (BPMS)) are getting more attention. This has lead to an increase in research on BPM and BPMS. However

Ensuring a successful family business management succession

OpenAIRE

Desbois, Joris

2016-01-01

Succession is the biggest long-term challenge that most family businesses face. Indeed, leaders ‘disposition to plan for their succession is frequently the key factor defining whether their family business subsists or stops. The research seeks to find out how to manage successfully the business management succession over main principles. This work project aims at researching the key points relevant to almost all family firms, to have a viable succession transition and positioni...

Using business intelligence to manage supply costs.

Science.gov (United States)

Bunata, Ernest

2013-08-01

Business intelligence tools can help materials managers and managers in the operating room and procedural areas track purchasing costs more precisely and determine the root causes of cost increases. Data can be shared with physicians to increase their awareness of the cost of physician preference items. Proper use of business intelligence goes beyond price benchmarking to manage price performance over time.

Aspect Of Reliability In Airport Business Continuity Management

Directory of Open Access Journals (Sweden)

Kozłowski Michał

2015-11-01

Full Text Available The paper presents the issue of ensuring the continuity of the operation at the airport. Requirements and objectives relating to business continuity management have been defined in accordance with ISO 22301 international standard. Conducted a study of reliability issues operation of the airport. Defined the function of the reliability and operational readiness of the airport. Presented the concept of using function of operational readiness in the risk assessment for the continuity of the airport.

Strategies for successful software development risk management

Directory of Open Access Journals (Sweden)

Marija Boban

2003-01-01

Full Text Available Nowadays, software is becoming a major part of enterprise business. Software development is activity connected with advanced technology and high level of knowledge. Risks on software development projects must be successfully mitigated to produce successful software systems. Lack of a defined approach to risk management is one of the common causes for project failures. To improve project chances for success, this work investigates common risk impact areas to perceive a foundation that can be used to define a common approach to software risk management. Based on typical risk impact areas on software development projects, we propose three risk management strategies suitable for a broad area of enterprises and software development projects with different amounts of connected risks. Proposed strategies define activities that should be performed for successful risk management, the one that will enable software development projects to perceive risks as soon as possible and to solve problems connected with risk materialization. We also propose a risk-based approach to software development planning and risk management as attempts to address and retire the highest impact risks as early as possible in the development process. Proposed strategies should improve risk management on software development projects and help create a successful software solution.

Handbook on Decision Making Vol 2 Risk Management in Decision Making

CERN Document Server

Lu, Jie; Zhang, Guangquan

2012-01-01

This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

THE MODELS OF STRATEGIC MANAGEMENT OF INFOCOMM BUSINESS

OpenAIRE

M. A. Lyashenko

2015-01-01

Consideration subject in this article are models of strategic management of large transnational information and communication business. The purpose of the presented work consists in formation of ideas of model of strategic management on the example of infocommunication business. For achievement of a goal the author of article carries out the analysis and synthesis of the existing practice of strategic management in infocommunication business. For achievement of a goal, as methodological base,...

Risk management - unappreciated instrument of supply chain management strategy

Directory of Open Access Journals (Sweden)

Wojciech Machowiak

2012-12-01

Full Text Available Background: Unlike Enterprise Risk Management, which is certainly quite well rooted in business practice, Supply Chain Risk Management (SCRM still continues to be dynamically developing subject of academic research, whereas its practical applications are rather scarce. Material and methods: On the basis of broad review of the current state of the art in world literature, significant  relevancies to the core processes and enterprise strategy are discussed.   Results: The paper shows some interesting from the enterprise's performance and competitiveness point of view additional benefits, potentially resulting from the proactive, consistent and effective implementation of the SCRM system. Conclusions: Some additional advantages from proactive supply chain risk management account for perceiving SCRM as multifunctional instrument of strategic SC management, exceeding established understanding RM as security and threat-prevention  tool only. Positive influence from SCRM onto SC performance and competitiveness can make reasonable to enhance its position within SCM strategy.

Risk management at the level of agricultural organizations

Directory of Open Access Journals (Sweden)

Genoveva Buzamat

2014-10-01

Full Text Available In agriculture, as in other production branches of the economy, there businesses which have two main objectives: on short term – achieve profit and on long term – the viability of the company (economic growth and stability. Even if the risk management practice can vary from one company to another, some elements are common for the risk management programs. These are: mission identification, risk assessment and of the risk control uncertainty, risk financing, risk administration. In this study we identify the risk categories and we establish methods to prevent them. The studied organization has as activity object the cereals and technical plants culture.

[New approach for managing microbial risks in food].

Science.gov (United States)

Augustin, Jean-Christophe

2015-01-01

The aim of the food legislation is to ensure the protection of human health. Traditionally, the food legislation requires food business operators to apply good hygiene practices and specific procedures to control foodborne pathogens. These regulations allowed reaching a high level of health protection. The improvement of the system will require risk-based approaches. Firstly, risk assessment should allow the identification of high-risk situations where resources should be allocated for a better targeting of risk management. Then, management measures should be adapted to the health objective. In this approach, the appropriate level of protection is converted intofood safety and performance objectives on the food chain, i.e., maximum microbial contamination to fulfil the acceptable risk level. When objectives are defined, the food business operators and competent authorities can identify control options to comply with the objectives and establish microbiological criteria to verify compliance with these objectives. This approach, described for approximately 10 years, operative thanks to the development of quantitative risk assessment techniques, is still difficult to use in practical terms since it requires a commitment of competent authorities to define the acceptable risk and needs also the implementation of sometimes complex risk models.

Business model risk analysis: predicting the probability of business network profitability

NARCIS (Netherlands)

Johnson, Pontus; Iacob, Maria Eugenia; Valja, Margus; van Sinderen, Marten J.; Magnusson, Christer; Ladhe, Tobias; van Sinderen, Marten J.; Oude Luttighuis, P.H.W.M.; Folmer, Erwin Johan Albert; Bosems, S.

In the design phase of business collaboration, it is desirable to be able to predict the profitability of the business-to-be. Therefore, techniques to assess qualities such as costs, revenues, risks, and profitability have been previously proposed. However, they do not allow the modeler to properly

Climate Leadership webinar on Integrating Energy and Climate Risk Management

Science.gov (United States)

Allergan, a multi-specialty healthcare company and pharmaceutical manufacturer, discusses how it manages climate and energy risks, how these areas are linked, and how energy and climate management strategies pervade critical business decisions.

Making the business case for process safety using value-at-risk concepts

International Nuclear Information System (INIS)

Fang, Jayming S.; Ford, David M.; Mannan, M. Sam

2004-01-01

An increasing emphasis on chemical process safety over the last two decades has led to the development and application of powerful risk assessment tools. Hazard analysis and risk evaluation techniques have developed to the point where quantitatively meaningful risks can be calculated for processes and plants. However, the results are typically presented in semi-quantitative 'ranked list' or 'categorical matrix' formats, which are certainly useful but not optimal for making business decisions. A relatively new technique for performing valuation under uncertainty, value at risk (VaR), has been developed in the financial world. VaR is a method of evaluating the probability of a gain or loss by a complex venture, by examining the stochastic behavior of its components. We believe that combining quantitative risk assessment techniques with VaR concepts will bridge the gap between engineers and scientists who determine process risk and business leaders and policy makers who evaluate, manage, or regulate risk. We present a few basic examples of the application of VaR to hazard analysis in the chemical process industry

Small Business Management. Instructor's Manual. Volume I. Third Edition.

Science.gov (United States)

Jeanneau, Joseph A.; And Others

The instructor's manual is one of four prepared as a guide in conducting a small Business Management course for American Indians to prepare them for jobs as owners/managers of their own businesses and for management positions with business owned by bonds, cooperatives, and others. The manual contains lesson plans, suggested methodologies, and…

ECU@Risk, a methodology for risk management applied to MSMEs

Directory of Open Access Journals (Sweden)

Esteban Crespo Martínez

2017-02-01

Full Text Available Information is the most valuable element for any organization or person in this new century, which, for many companies, is a competitive advantage asset (Vásquez & Gabalán, 2015. However, despite the lack of knowledge about how to protect it properly or the complexity of international standards that indicate procedures to achieve an adequate level of protection, many organizations, especially the MSMEs sector, fails to achieve this goal.Therefore, this study proposes a methodology for information security risk management, which is applicable to the business and organizational environment of the Ecuadorian MSME sector. For this purpose, we analyze several methodologies as Magerit, CRAMM (CCTA Risk Analysis and Management Method, OCTAVE-S, Microsoft Risk Guide, COBIT 5 COSO III. These methodologies are internationally used in risk management of information; in the light of the frameworks of the industry: ISO 27001, 27002, 27005 and 31000.

Business Management System Support Analysis

Science.gov (United States)

Parikh, Jay

2008-01-01

The purpose of this research project was to develop a searchable database compiled with internal and external audit findings/observations. The data will correspond to the findings and observations from the date of Center-wide implementation of the ISO 9001-2000 standard to the present (2003-2008). It was derived and extracted from several sources and was in multiple formats. Once extracted, categorization of the findings/observations would be possible. The final data was mapped to the ISO 9001-2000 standard with the understanding that it will be displayed graphically. The data will be used to verify trends, associate risks, and establish timelines to identify strengths and weaknesses to determine areas of improvement in the Kennedy Space Center Business Management System Internal Audit Program.

ROMANIAN BUSINESS WOMEN: MANAGERS OR LEADERS?

Directory of Open Access Journals (Sweden)

Adriana UNGUREANU

2016-07-01

Full Text Available Leadership is a concept appeared in the second part of the twentieth century which developed later on because of the business necessity as the economic environment has become more and more complex and the classic managerial style was no more efficient. In this complex world of business, women were traditionally involved in business at the administrative level, with small chances to reach top structures in a company. Due to the modern times, they won their rights to prove their management skills and to obtain more important jobs in famous companies. This paper presents the results of a research based on interview method and getting responses from Romanian women involved in business at the middle and top management in multinational companies. The main goal of the study was to identify the main features that define the women as a leader or a manager by finding lateral thinking skills. This research revealed that most of the women interviewed have their features closer to the conventional leader and only few of them have developed strong lateral thinking skills.

Enterprise Risk Management with the focus on Small and Medium Enterprises

NARCIS (Netherlands)

H. van den Berg; P. Kristofik

2011-01-01

In the paper, the risk and risk management issues are discussed. We try to offer different definitions and characteristics of business risk together with categorisation of risk connected with the entrepreneurship. Specific risks in the SMEs sector are emphasized and some solutions for

Drug use in business bathrooms: An exploratory study of manager encounters in New York City

Science.gov (United States)

Wolfson-Stofko, Brett; Bennett, Alex S.; Elliott, Luther; Curtis, Ric

2017-01-01

Background Though public bathroom drug injection has been documented from the perspective of people who inject drugs, no research has explored the experiences of the business managers who oversee their business bathrooms and respond to drug use. These managers, by default, are first-responders in the event of a drug overdose and thus of intrinsic interest during the current epidemic of opioid-related overdoses in the United States. This exploratory study assists in elucidating the experiences that New York City business managers have with people who inject drugs, their paraphernalia, and their overdoses. Methods A survey instrument was designed to collect data on manager encounters with drug use occurring in their business bathrooms. Recruitment was guided by convenience and purposive approaches. Results More than half of managers interviewed (58%, n = 50/86) encountered drug use in their business bathrooms, more than a third (34%) of these managers also found syringes, and the vast majority (90%) of managers had received no overdose recognition or naloxone training. Seven managers encountered unresponsive individuals who required emergency assistance. Conclusion The results from this study underscore the need for additional research on the experiences that community stakeholders have with public injection as well as educational outreach efforts among business managers. This research also suggests that there is need for a national dialogue about potential interventions, including expanded overdose recognition and naloxone training and supervised injection facilities (SIF)/drug consumption rooms (DCR), that could reduce public injection and its associated health risks. PMID:27768996

Management Risk Reporting Practices and their determinants

OpenAIRE

VANDEMAELE, Sigrid; VERGAUWEN, Philip; MICHIELS, Anneleen

2009-01-01

In recent years, the need for effective risk management, internal control and transparent risk reporting has become an important corporate governance principle and a predominant issue in business. Already in 1987, the AICPA[ ] report stated that shareholders are increasingly demanding that financial statements include more information concerning the risks and uncertainties companies are facing (Schrand and Elliott, 1998). Abraham and Cox (2007) claim that this information can help investors t...

New health risks and sociocultural contexts: bird flu impacts on consumers and poultry businesses in Lao PDR.

Science.gov (United States)

Suder, Gabriele; Inthavong, Saynakhone

2008-02-01

Avian flu has been identified as one of the most challenging new risks, global in impact due to the "highly interconnected and integrated world economy along with other unpredictable events such as the Asian financial crisis and global terrorism." We have chosen the case of Lao PDR to shed light on an area in which local people consume chicken as one of their staple foods. Our research analyzes consumer behavior, poultry business modification patterns in a high-risk country, and government reaction for business resilience. The geographic choice is motivated by the 2006 EIU report on Catastrophe Risk Management that indicated that Asian-Pacific companies are better prepared for such risks as bird flu than European business is, despite the many cases found in both regions.

Farmers' motivations, risk perceptions and risk management strategies in a developing economy: Bangladesh experience

DEFF Research Database (Denmark)

Ahsan, D. A.

2011-01-01

and farm management training are considered among the best methods to manage the risks in the shrimp-farming business. We also observe some disparities in farmers' perceptions. For instance, farmers mentioned that removal of influence of middlemen from supply chain is essential for the betterment......Aquaculture farmers' risk perceptions and risk management strategies have still received little attention in agricultural research. Therefore, an exploratory study has been undertaken to provide empirical insight into Bangladeshi coastal shrimp farmers' risk perceptions and risk management...... and availability of quality shrimp seeds, exploitation by intermediaries and uncertainty about the future demand for shrimp in foreign markets are perceived as the most important sources of risk. On the other hand, prevention of disease, timely supply of shrimp seeds, elimination of middlemen from the supply chain...

Modeling and reconfiguration of critical business processes for the purpose of a business continuity management respecting security, risk and compliance requirements at Credit Suisse using algebraic graph transformation (Extended version)

NARCIS (Netherlands)

Brandt, C.; Hermann, F.; Groote, J.F.

2010-01-01

Critical business processes can fail. A Business Continuity Management System is a special management system that will define how to recover from such failures and specifies temporary work-arounds to make sure a company is not going out of business in the worst case. However, because today's

Embedding Sustainable Business Practice : A Better Business Model

NARCIS (Netherlands)

R.E. Ainsbury

2016-01-01

Purpose: The author sets out the basis for a new research programme designed to demonstrate that by encouraging managers of small to medium-sized businesses (SMEs [1]) to take a positive approach to social and environmental risks, embedding and operationalising their responses into their business

System View of Business Continuity Management

Directory of Open Access Journals (Sweden)

Vlasta Svata

2013-04-01

Full Text Available We are living in time where the impact on continuity still grows both on the side our personal lives and business activities. In the same time different international, regional, national, state and private organizations initiated to provide different actions and regulations in order to find the best solutions of this situation. The result is that there exist the whole set of different views over this problem. The main aim of this article is to map this situation, to provide the general framework of business continuity management (BCM and to discuss its main parts and their mutual relationships. Special impact is given to the integration of the business and IT oriented solutions and ways of assurance initiatives helping managers to assess the implemented solutions and their compliance to the business strategy and other existing regulations.

Certification and risk management; La certificacion y la gestion de riesgos

Energy Technology Data Exchange (ETDEWEB)

Villanueva Fernandez, M.

2015-07-01

Nowadays more organizations are increasingly aware of the importance of properly managing the uncertainty of its activities and build competitive advantages through the identification, assessment and management of risks that they face. Risk management is also an aspect of great importance within the new version of ISO fact it is one of the most innovative and also the most laborious, because an appropriate risk management achieves expected results and customer satisfaction. In conclusion, risk management is a new field of business and can be considered a cross-cutting component for other relevant factors of organizational change management. (Author)

Transforming business education to produce global managers

NARCIS (Netherlands)

Kedia, Ben L.; Englis-Danskin, Paula

2011-01-01

In recent years, globalization of businesses has occurred faster than the internationalization of business schools—in terms of faculty, students, and curriculum. Indeed, there is now a disconnect between global economic realities and the ability of business schools to produce global managers. This

The influence of logistics potentials on business management

Directory of Open Access Journals (Sweden)

Rafał Matwiejczuk

2012-09-01

Full Text Available Background: Logistics is more and more often perceived as an integrated potential of changes in a business management system. Among the particular potentials, the key importance is assigned to logistics resources, capabilities, and particularly competences. Methods: The article points at exploitation of possibilities of logistics potentials in achieving desired changes in business management and reaching desired market and economic effects by a company. Except for literature studies, empirical research has been conducted in 111 companies operating in Poland.  Results and conclusions:  Research results have shown several symptoms of logistics influence on business management system. The significance of logistics potentials in business management system capacity development has been partially confirmed. Due to logistics potentials, the company can be more effective and efficient in reaching expected market and economic outcomes.  

Small Business Goes To College. College and University Courses in Small Business Management and Entrepreneurship.

Science.gov (United States)

Bauer, Robert O.

The movement of small business management courses into college and university curricula is discussed. The present state of small business management courses, the objectives of the courses, the variety of courses being offered, and teacher and student reaction to the courses are examined. A historical overview of small business courses at higher…

Effectiveness of insurance risk management under crisis conditions

Directory of Open Access Journals (Sweden)

I.G. Goncharenko

2015-06-01

Full Text Available In the article some historical aspects of insurance, domestic trends in insurance risk management with aspects of international experience, the modern role of insurance and insurance companies in a market economy, factors of risk management system and the nature of the insurance portfolio are analyzed. Factors of risk events in insurance, the spectrum of risks, imbalance of the insurance market in crisis conditions are outlined; expert’s estimations of the insurance market in recent years are examined. Problems of insurance business perform are determined, especially insurance risk management. The ability to use the provisions of European insurance regulation on internal domestic insurance market is analyzed, and also the aspects of integration of Ukrainian insurance market are determined.

ANALYSIS OF HOW YOU MANAGE RISK IN THE BANK BANCPOST S.A.

Directory of Open Access Journals (Sweden)

Rodica Pripoaie

2008-05-01

Full Text Available Risk management within Bancpost is a decentralized process guided by policies andprocedures laid down centrally. Within the bank there are five major organizational groups involved inthe process of risk management. These groups are responsible for defining, implementing and / orrevision of policies, regulations and procedures for risk management of the bank:1. Board of Directors;2. Executive Committee and heads of bank;3. The Risk Management;4. Internal Audit;5. Business units (branches, agencies, working points.

Management potential of organizational culture in resolving business conflicts

Directory of Open Access Journals (Sweden)

Iryna Kopytova

2018-03-01

Full Text Available The purpose of the article is to determine peculiarities, essence, content, dialectic nature of correlation of business conflicts and organizational culture in developing countries (in the case of Ukraine. A special attention draws to preconditioned application of management potential of organization culture for maintaining management potential of organization culture for ensuring conflict management in business companies. The research showed that the internal reason for any business conflict cores in frameworks of interpersonal relations in the staff, which are conditioned under the impact of organization culture. This justifies its management significance in preventing and constructively resolving business conflicts in companies. The analysis of practice of management certifies that ignoring high management potential of organization culture and its inactivity in enterprises of Ukraine is a source of conflict-relatedness of social relations. The author suggests the principles to be followed in the formation of organizational culture. It will help to reduce the level of conflict in Ukrainian business organizations and will increase their efficiency and competitiveness.

Performance Indicators for Business Rule Management

NARCIS (Netherlands)

Eline de Haan; dr. Martijn Zoet; Koen Smit

2016-01-01

From the article: With increasing investments in business rules management (BRM), organizations are searching for ways to value and benchmark their processes to elicitate, design, accept, deploy and execute business rules. To realize valuation and benchmarking of previously mentioned processes,

Issues for small businesses with waste management.

Science.gov (United States)

Redmond, Janice; Walker, Elizabeth; Wang, Calvin

2008-07-01

Participation by small and medium enterprise (SME) in corporate social responsibility issues has been found to be lacking. This is a critical issue, as individually SMEs may have little impact on the environment but their collective footprint is significant. The management style and ethical stance of the owner-manager affects business decision making and therefore has a direct impact on the environmental actions of the business. Although adoption of environmental practices to create competitive advantage has been advocated, many businesses see implementation as a cost which cannot be transferred to their customers. After a brief review of pertinent literature this paper reports on an exploratory investigation into the issue. Results show that whereas owner-managers of small enterprises express concern regarding the environment, this does not then translate into better waste management practices.

Defining collaborative business rules management solutions : framework and method

NARCIS (Netherlands)

dr. Martijn Zoet; Johan Versendaal

2014-01-01

From the publishers' website: The goal of this research is to define a method for configuring a collaborative business rules management solution from a value proposition perspective. In an earlier published study (Business rules management solutions: added value by means of business

Risk assessment and management logistics chains

Directory of Open Access Journals (Sweden)

Vladimir Vikulov

2014-03-01

Full Text Available Background: In the context of economic globalization and increasing complexity of economic relations enterprises need methods and techniques to improve and sustain their position on the global market. Integration processes offer business new opportunities, but at the same time present new challenges for the management, including the key objectives of the risk management. Method: On the basis of analysis tools known from the pertinent literature (Supply Chain Management and Supply Chain Risk Management methods, methods of probability theory, methods of risk management, methods of statistics the authors of this paper proposed their own risk assessment method and the method of management of logistics chains. The proposed tool is a specific hybrid of solutions known from the literature. Results: The presented method has been successfully used within the frames of economic-mathematical model of industrial enterprises. Indicators of supply chain risks, including risks caused by supplier are considered in this paper. Authors formed a method of optimizing the level of supply chain risk in the integration with suppliers and customers. Conclusion: Every organization, which starting the process of integration with supplier and customers, needs to use tools, methodologies and techniques for identification of "weak links" in the supply chain. The proposed method allows to fix risk origin places in various links of the supply chain and to identify "weak links" of a logistic chain that may occur in the future. The method is a useful tool for managing not only risks and risk situations, but also to improve the efficiency of current assets management by providing the ability to optimize the level of risk in the current assets management of the industrial enterprise.

WAYS TO IMPROVE RISK MANAGEMENT IN COMPLEX PROJECTS

Directory of Open Access Journals (Sweden)

Emilia IORDACHE

2012-01-01

Full Text Available Risk is present in all human activities; it can be associated with health, security, economy or environment. The goal of risk management is to control, prevent or decrease potential damages. Technically speaking, risk management means all the activities coordinated so as to orient and monitor an organization from the risk perspective. Risk management helps formulate the most adequate decisions by taking account of uncertainties and their effects upon the accomplishment of proposed goals, and argues the need to lay down and implement coercive, preventive actions typical of the management of a company. The benefits of good risk management and also the consequences of bad management shall undoubtedly be felt by an organization’s board, employees, shareholders, customers as well as by all other entities concerned with organizational performance. Projects generally include a number of risks in common with those in business as well as certain typical ones. In complex projects, it is this very feature – complexity – which generates the need to implement risk management for the purpose to diminish, remove, and monitor the risks which can influence the development of a project.

BUSINESS PLAN BLUEPRINT OF A CAFE IN RUSSIA

OpenAIRE

Geraskin, Dmitry

2010-01-01

This thesis provides an insight into business plan core chapters from the viewpoint of a starting company in North-Western Russia. The aim of the thesis was to comprehend the main steps on the way to the successful business plan such as the marketing plan, risk management issues, human resource management features and to facet the business idea itself with the help of the project commissioner. Catering business, marketing, risk management and other special literature was used along with i...

CONSIDERATIONS REGARDING THE MANAGEMENT STRATEGIES OF BANK RISKS

Directory of Open Access Journals (Sweden)

NICOLETA GEORGETA PANAIT

2015-12-01

Full Text Available The study summarizes what it means banking risks, the main risk management strategies. The complexity of the business environment, liberalization and internationalization of financial flows, brings rapid innovation, diversified financial markets, new opportunities but multiplied risks. Banks establish the types of risks they are prepared to take and the threshold at which risk is considered significant. The process of determining the risks that are taken includes the nature, the scale and the complexity of banks.

A model for the optimal risk management of farm firms

DEFF Research Database (Denmark)

Rasmussen, Svend

2012-01-01

Risk management is an integrated part of business or firm management and deals with the problem of how to avoid the risk of economic losses when the objective is to maximize expected profit. This paper will focus on the identification, assessment, and prioritization of risks in agriculture followed...... by a description of procedures for coordinated and economical application of resources to control the probability and/or impact of unfortunate events. Besides identifying the major risk factors and tools for risk management in agricultural production, the paper will look critically into the current methods...... for risk management Risk management is typically based on numerical analysis and the concept of efficiency. None of the methods developed so far actually solve the basic question of how the individual manager should behave so as to optimise the balance between expected profit/income and risk. In the paper...

Future Directions of Management Science and Operations Management in Business School Curricula

Science.gov (United States)

Fuller, Jack A.; Denton, James W.

2006-01-01

The fields of Management Science (MS) and Operations Management (OM) have co-existed in business school curricula for over a half century. This paper examines five trends that point toward a bright future for Operations Management in the business curriculum. These trends include an increasing emphasis on global competition, the growth of the…

Business Models for Corporate Innovation Management

DEFF Research Database (Denmark)

Brem, Alexander; Trapp, Martin; Voigt, Kai-Ingo

2018-01-01

or a specific product innovation. From a body of extant literature, we develop a BMI identification tool which is then tested by senior managers from four large European corporations to assess whether innovation efforts represent BMI. The tool operationalises BMI and offers straightforward criteria......Business model innovation (BMI) is the process of integrating a new logic of doing business into an established firm to improve profitability or to capitalise on new business opportunities. However, existing research offers only limited clarity on BMI compared to business model upgrades...

Risks Analysis of Logistics Financial Business Based on Evidential Bayesian Network

Directory of Open Access Journals (Sweden)

Ying Yan

2013-01-01

Full Text Available Risks in logistics financial business are identified and classified. Making the failure of the business as the root node, a Bayesian network is constructed to measure the risk levels in the business. Three importance indexes are calculated to find the most important risks in the business. And more, considering the epistemic uncertainties in the risks, evidence theory associate with Bayesian network is used as an evidential network in the risk analysis of logistics finance. To find how much uncertainty in root node is produced by each risk, a new index, epistemic importance, is defined. Numerical examples show that the proposed methods could provide a lot of useful information. With the information, effective approaches could be found to control and avoid these sensitive risks, thus keep logistics financial business working more reliable. The proposed method also gives a quantitative measure of risk levels in logistics financial business, which provides guidance for the selection of financing solutions.

THE MODELS OF STRATEGIC MANAGEMENT OF INFOCOMM BUSINESS

Directory of Open Access Journals (Sweden)

M. A. Lyashenko

2015-01-01

Full Text Available Consideration subject in this article are models of strategic management of large transnational information and communication business. The purpose of the presented work consists in formation of ideas of model of strategic management on the example of infocommunication business. For achievement of a goal the author of article carries out the analysis and synthesis of the existing practice of strategic management in infocommunication business. For achievement of a goal, as methodological base, the systems and logical analysis was selected. In water part of article the interrelation of a computerization of basic functions of a business management, by public and public institutions, growth of the enterprises of the information and communication sphere and formation of a pool of specially prepared labor with development of practice of a strategation is presented. In the main part of article practice of the organization of strategic management of infocommunication business in three leading fi rms of this branch of Microsoft, Dell, Intel is considered. Consideration is directly coordinated to evolution of the infocommunication branch defi ning regularities of strategic management. The model strategic management in the Microsoft company conceptually corresponds to strategy of growth and includes three elements: representation, participation and innovations. At the heart of model of strategic management of Intel there are two elements: fi rst, deduction of leader positions in the of a segment by means of development, productions and sales of the most eff ective and available goods at the price, secondly, is maximizing use value of the fi nal product of the company. Generally the model of strategic management of Dell includes three basic elements: development and use of the latest technologies, high quality of goods, eff ective interrelation in a value creation chain. As result of the experiment of strategic management of large information

Economics and management of climate change: risks, mitigation and adaptation

National Research Council Canada - National Science Library

Antes, Ralf

2008-01-01

... climate change poses risks to societies and companies, nor about adequate strategies to cope with these risks. Bringing together scholars from environmental economics, political science, and business management, this book describes, analyses and evaluates climate change risks and responses of societies and companies. The book c...

Optimizing Diamond Structured Automobile Supply Chain Network Towards a Robust Business Continuity Management

Directory of Open Access Journals (Sweden)

Abednico Montshiwa

2016-02-01

Full Text Available This paper presents an optimized diamond structured automobile supply chain network towards a robust Business Continuity Management model. The model is necessitated by the nature of the automobile supply chain. Companies in tier two are centralized and numerically limited and have to supply multiple tier one companies with goods and services. The challenge with this supply chain structure is the inherent risks in the supply chain. Once supply chain disruption takes place at tier 2 level, the whole supply chain network suffers huge loses. To address this challenge, the paper replaces Risk Analysis with Risk Ranking and it introduces Supply Chain Cooperation (SCC to the traditional Business Continuity Plan (BCP concept. The paper employed three statistical analysis techniques (correlation analysis, regression analysis and Smart PLS 3.0 calculations. In this study, correlation and regression analysis results on risk rankings, SCC and Business Impact Analysis were significant, ascertaining the value of the model. The multivariate data analysis calculations demonstrated that SCC has a positive total significant effect on risk rankings and BCM while BIA has strongest positive effects on all BCP factors. Finally, sensitivity analysis demonstrated that company size plays a role in BCM.

A Digital Curate's Egg: A Risk Management Approach to Enhancing Data Management Practices

Science.gov (United States)

Knight, Gareth

2012-01-01

This article provides a case study of work performed at King's College London to survey information management practices, policies, and procedures applied by data creators and managers within three research units and three business units, and to determine the risk factors that may limit access and use of their digital assets over time. The…

Improving the Management Systems of the Ownership Risks in Conditions of Transformation of the Russian Economy

OpenAIRE

Mikhail V. Khachaturyan

2016-01-01

The article analyzes problems of improving the management systems of the ownership risks in the conditions of the transformation of the Russian economy. Among the main sources of threats business owners should highlight is the inefficiency of the implementation of business models and interaction with hired managers. In this context, it is particularly important to analyze the relationship of business models and ownership risks. The analysis of this problem appears to be relevant for a number ...

RISK MANAGEMENT IN SMALL AND MEDIUM – SIZED ENTERPRISES: A GENDER-SENSITIVE APPROACH

Directory of Open Access Journals (Sweden)

Iwona Gorzeń-Mitka

2015-12-01

Full Text Available Risk is inherent in all business functions and in every kind of activity. Small and medium-sized enterprises (SMEs are particularly vulnerable to continuously daily internal and external undesirable events that adversely affect business performance. To deal with many risk determinants effectively, SMEs need a systemic method of approach to risk management. One of the factors of company risk management approach is gender of the owners or top executives. Especially from a managerial perspective, the link between risk-taking and gender has been examined through a wide range of approaches, such as entrepreneurial orientation and leadership related literatures. Some researchers point that male SME owners appear to show a greater risk appetite than female SME owners. The leading question in the undertaken research was to determine whether the gender of the firm's owners or top executives are reflected in the approach to risk management. The focal point of the research is identification of differences in risk taking and risk management in Polish SMEs companies from a gender perspective.

Risk Management in the Nigerian Banking Industry: A Case Study of Guaranty Trust Bank

OpenAIRE

Usman, Fatima

2014-01-01

Every organisation exists to provide value of its stakeholders, as a result they have to take make decisions that involves risks and they also have to take on some risks in order to deliver returns. Also, all banking institutions in the process of providing services face financial risk and failure to manage these risks can result in loss in earnings, failure to meet business objectives, these factors in general may hinder a bank’s inability to conduct its on-going business and business surviv...

A new future for business? Rethinking management theory and business strategy

NARCIS (Netherlands)

Hahn, T.; Kolk, A.; Winn, M.

2010-01-01

In this introductory article, we discuss the need for a rethinking of the theoretical foundations of management and the practice of business strategy in view of a range of social, environmental and ethical challenges that highlight the limits of ‘business as usual’. Calls for a reconsideration of

Business Schools and Corporate Management Development.

Science.gov (United States)

Beeby, Mick; Jones, Warwick

1997-01-01

Responses from 97 managers in southwest England indicated the following: the marketplace is increasingly competitive and demanding; key goals of management development are competitive advantage and demonstrable return; managers need leadership and change, personal, and strategic management skills; and selection of a business school or other…

Developing cloud-based Business Process Management (BPM): a survey

Science.gov (United States)

Mercia; Gunawan, W.; Fajar, A. N.; Alianto, H.; Inayatulloh

2018-03-01

In today’s highly competitive business environment, modern enterprises are dealing difficulties to cut unnecessary costs, eliminate wastes and delivery huge benefits for the organization. Companies are increasingly turning to a more flexible IT environment to help them realize this goal. For this reason, the article applies cloud based Business Process Management (BPM) that enables to focus on modeling, monitoring and process management. Cloud based BPM consists of business processes, business information and IT resources, which help build real-time intelligence systems, based on business management and cloud technology. Cloud computing is a paradigm that involves procuring dynamically measurable resources over the internet as an IT resource service. Cloud based BPM service enables to address common problems faced by traditional BPM, especially in promoting flexibility, event-driven business process to exploit opportunities in the marketplace.

New Management Tools – From Video Management Systems to Business Decision Systems

Directory of Open Access Journals (Sweden)

Emilian Cristian IRIMESCU

2015-06-01

Full Text Available In the last decades management was characterized by the increased use of Business Decision Systems, also called Decision Support Systems. More than that, systems that were until now used in a traditional way, for some simple activities (like security, migrated to the decision area of management. Some examples are the Video Management Systems from the physical security activity. This article will underline the way Video Management Systems passed to Business Decision Systems, which are the advantages of use thereof and which are the trends in this industry. The article will also analyze if at this moment Video Management Systems are real Business Decision Systems or if there are some functions missing to rank them at this level.

Managing business compliance using model-driven security management

Science.gov (United States)

Lang, Ulrich; Schreiner, Rudolf

Compliance with regulatory and governance standards is rapidly becoming one of the hot topics of information security today. This is because, especially with regulatory compliance, both business and government have to expect large financial and reputational losses if compliance cannot be ensured and demonstrated. One major difficulty of implementing such regulations is caused the fact that they are captured at a high level of abstraction that is business-centric and not IT centric. This means that the abstract intent needs to be translated in a trustworthy, traceable way into compliance and security policies that the IT security infrastructure can enforce. Carrying out this mapping process manually is time consuming, maintenance-intensive, costly, and error-prone. Compliance monitoring is also critical in order to be able to demonstrate compliance at any given point in time. The problem is further complicated because of the need for business-driven IT agility, where IT policies and enforcement can change frequently, e.g. Business Process Modelling (BPM) driven Service Oriented Architecture (SOA). Model Driven Security (MDS) is an innovative technology approach that can solve these problems as an extension of identity and access management (IAM) and authorization management (also called entitlement management). In this paper we will illustrate the theory behind Model Driven Security for compliance, provide an improved and extended architecture, as well as a case study in the healthcare industry using our OpenPMF 2.0 technology.

Risk Management in the Age of Turbulence - Failures and Challenges

Directory of Open Access Journals (Sweden)

Alexandru CAPATINA

2012-08-01

Full Text Available Today’s business, being affected by the continuous changes in economic environment, must reinvent the “prudent risk taking” concept to strike an appropriate balance between risk, return and growth, in order to create lasting value. This paper is focused on describing the nature of risk and the objectives of risk management. In the context of more attractive risk conceptual simplifications which often lead to significant errors, the paper explains the failures in risk management, the way of their occurrence and the methods of reducing their occurrence.

BUSINESS PROCESS REENGINEERING AS THE METHOD OF PROCESS MANAGEMENT

Directory of Open Access Journals (Sweden)

O. Honcharova

2013-09-01

Full Text Available The article is devoted to the analysis of process management approach. The main understanding of process management approach has been researched in the article. The definition of process and process management has been given. Also the methods of business process improvement has been analyzed, among them are fast-analysis solution technology (FAST, benchmarking, reprojecting and reengineering. The main results of using business process improvement have been described in figures of reducing cycle time, costs and errors. Also the tasks of business process reengineering have been noticed. The main stages of business process reengineering have been noticed. The main efficiency results of business process reengineering and its success factors have been determined.

THE MANAGEMENT OF RISKS IN BUSINESS AND IN THE MANAGEMENT OF HUMAN RESOURCES

OpenAIRE

Reta CONDEI; Ioana NICULAE; Georgiana Melania COSTAICHE; Agatha POPESCU

2014-01-01

The characteristics of market economy and coordinates of modern life have determinate both individual level and organizations increase of number of risk who can affect us, of their dimensions and of the consequences which induce them, but at the same time a highest need of firm security. In economic and financial department was develop an entire area –management risk and many financial instruments to reduce or diminish risk. The behaviour of economical agents respectively of the entrepreneurs...

The application of holistic risk management in the banking industry

Directory of Open Access Journals (Sweden)

J. Chibayambuya

2007-12-01

Full Text Available Purpose: The application of holistic risk management is fast becoming a standard measure of good governance in the business arena. What role can holistic risk management play in the management of risk in the financial services industry? The aim of this paper is to propose a holistic risk management framework for the management of risk. Design/Methodology/Approach: A comprehensive framework that covers the holistic view risk management is proposed/developed out of an extensive literature review. Findings: Given the deliberations of various frameworks, a holistic risk management is proposed. The proposed framework ensures that all components of risk management are taken into account when strategizing for risk management in general and holistic risk management in particular; thereby improving the management of risk in the banking industry. Implications: The article proposes a holistic approach to risk management which takes into account all the facets of risk management, e.g. analyzing, planning, strategy, communication, implementation, motivation, systems review and plan modification. This holistic approach, when implemented in the banking industry, can have a significant impact on the improved management of risk. Originality/Value: The new proposed holistic risk management framework offers a fresh perspective of strategizing for risk management in terms of risk analysis, risk planning, risk strategy, risk communication, risk implementation, risk motivation, risk review and risk plan modification.

Cultural management in family business

Directory of Open Access Journals (Sweden)

Patricia Amelia Tomei

2010-01-01

Full Text Available This article's main goal is to analyze how the evolution of organizational culture can impact business performance. A theoretical framework was developed based on a review of the literature relating to organizational culture and family business succession management models. A single case study methodology was adopted based on primary and secondary data obtained through documentary research, participant observation and interviews at Guapo Loco, a Brazilian chain of Mexican restaurants / fun bars, which is a family company and was founded in Rio de Janeiro in 1996. We focused on its leader's trajectory and its implications for the life cycle of the family business, the founder¿s dream and vision, succession and cultural management difficulties. We conclude that it is possible for an organization to become trapped by its cultural formation. We will see that as it reaches maturity, the organizational, family and shareholder dimensions need to adapt in a similar fashion. At this stage, the organizational culture may become dysfunctional, jeopardizing the organization's survival.

Managing Cybersecurity and e-Commerce Risks in Small Businesses

OpenAIRE

Raghavan, Kamala; Desai, Mayur S.; Rajkumar, P.V.

2017-01-01

Cybersecurity is a topic of discussion at boardrooms of businesses of all sizes as recent breaches have shown that every sector is vulnerable. Small businesses are becoming aware that their size does not provide safety from breaches. This paper discusses the pattern of increase in cyber breach incidents in businesses of all sizes around the globe, the challenges to cyber resilience found by the Ponemon Institute 2016 survey, offers steps to strengthen cybersecurity and builds customer trust, ...

Managing SMEs’ Collaboration Across Organizational Boundaries Within a Regional Business Ecosystem

DEFF Research Database (Denmark)

Radziwon, Agnieszka; Bogers, Marcel

2018-01-01

’ perspective on managing and organizing inter-company collaboration within a regional business ecosystem. We explore how purposefully managed mutual knowledge flows across organizational boundaries applied by SMEs contribute to the development of the ecosystem they are immersed in. Our key findings include...... insights into the advantages offered by being embedded within regional ecosystem boundaries, such as low transaction costs and reduced risks of opportunistic behaviors, environmental opportunities for external knowledge sourcing or increase of the sphere of influence. We also highlight accompanied...

GREEN BUSINESS PROCESS MANAGEMENT: A RESEARCH AGENDA

Directory of Open Access Journals (Sweden)

Aditya Ghose

2010-01-01

Full Text Available There is a global consensus on the need to reduce our collective carbon footprint. While much research attention has focused on developing alternative energy sources, automotive technologies or waste disposal techniques, we often ignore the fact that the ability to optimize (existing operations to reduce their emissions impact is fundamental to this exercise. Business process management (BPM technology, with its focus on understanding, modelling and improving/optimizing business processes, is a key starting point. Process modelling technology has applications beyond what we would traditionally describe as business processes - we can also model and improve manufacturing and other "physical" processes. This paper describes the contours of the emerging research landscape in green business process management and presents some early results in this area.

Risk Management Thinking and Case Studies for Creating Business Resiliency : Possibilities for Soft Control and Social Capital

OpenAIRE

Ueda, Kazuo

2012-01-01

Nowadays companies have less of a chance of survival. A meager 6.3% of Japanese businesses are still in operation 10 years after their incorporation. Regardless of company size, Japanese and European businesses last an average of only 12.5 years. While representing the difficulties of management for modern businesses, these numbers also teach us the importance of making a quick turnaround to recover from our managerial failures, whatever their cause. Corporate failure rates far surpass corpor...

THE MANAGEMENT OF BUSINESS ACTIVITY OF ENTERPRISES: SCIENTIFIC AND ECONOMIC ANALYTICS

Directory of Open Access Journals (Sweden)

Maksym Hodiashchev

2017-09-01

Full Text Available The main purpose of the paper is to comprehensively study and analyse theoretical aspects of management of business activity of enterprises, revealing their main disadvantages and differences. The research methods will allow developing a categorical apparatus for the management of business activity of enterprises. Methodology. The research is based on the analysis of scientific works of domestic and foreign scientists and economists concerning business activity as an economic category and its management, approaches and directions of such management. Results of the research are showed that management of business activity covers various areas of activity of enterprises. Such areas can be production, financial, innovative, social, environmental etc. In the process of analysing economic literature, it is determined that most scholars focus on two main aspects of managing business activity: socioeconomic management and management of the efficiency of economic activity. It is determined that each aspect of management of business activity is characterized by appropriate methods of conducting. Among methods of socio-economic management of the enterprise are followed: material and moral stimulation of personnel; social regulation; economic calculation; balance method; method of financing; price regulation; lending. Considered also psychological and organizational-administrative methods for the management of business activity. The second aspect of management of business activity aimed at managing the efficiency of economic activity is characterized by the achievement of the necessary discursive effect that is the direct satisfaction of the owners of enterprises. The article also substantiates the importance of studying tools of managerial influence on the business activity of enterprises, which in the process of research are divided into five main groups: economic, ecological, financial, psychological, and management audit. Practical implications. Modern

Mandatory adoption of business risk disclosure: evidence from Japanese firms

OpenAIRE

KIM, Hyonok; YASUDA, Yukihiro

2016-01-01

We take advantage of institutional changes and its characteristics in Japan to empirically examine mandatory business risk disclosure. We find that there is a negative impact on total risk from the introduction of mandatory business risk disclosure. This suggests that an increase in business risk disclosure reduces a firm's cost of capital, which is contrary to the results of previous research. However, we also find that there is a positive relationship across firms and years after inception ...

Risk Management for Ag Families: An Outreach Education Model for Improving Family Business Success

OpenAIRE

Bastian, Christopher; Nagler, Amy; Weigel, Randolph; Hewlett, John

2010-01-01

Did producers benefit from the risk management training program? Overall, responses to program evaluations indicate a positive impact on knowledge levels relating to risk management and the importance of incorporating family aspects into risk management decision making. Moreover, responses to the follow-up questionnaire indicate that respondents had taken steps to adjust their risk management, as it related to training provided in the workshop series. Every respondent indicated specific areas...

Model of high-tech businesses management under the trends of explicit and implicit knowledge markets: classification and business model

Directory of Open Access Journals (Sweden)

Guzel Isayevna Gumerova

2015-03-01

Full Text Available Objective to define the notion of ldquohightech businessrdquo to elaborate classification of hightech businesses to elaborate the business model for hightech business management. Methods general scientific methods of theoretical and empirical cognition. Results the research presents a business model of hightech businesses management basing on the trends of explicit and explicit knowledge market with the dominating implicit knowledge market classification of hightech businesses taking into consideration the three types of economic activity possibilities to manage hightech business basing on its market cost technological innovations costs and business indicators. Scientific novelty the interpretation of the notion of ldquohightech businessrdquo has been renewed the classification of hightech businesses has been elaborated for the first time allocating three groups of enterprises. Practical value theoretical significance ndash development of notional apparatus of hightech business management practical significancenbsp ndash grounding of the necessity to manage enterprises under development of explicit and explicit knowledge markets in Russia as a complex of capital and noncapital assets with dominating indicators of ldquomarket valuerdquo and ldquolife span of a companyrdquo. nbsp

The integrity management cycle as a business process

Energy Technology Data Exchange (ETDEWEB)

Ackhurst, Trent B.; Peverelli, Romina P. [PIMS - Pipeline Integrity Management Specialists of London Ltd. (United Kingdom).

2009-07-01

It is a best-practice Oil and Gas pipeline integrity and reliability technique to apply integrity management cycles. This is conforms to the business principles of continuous improvement. This paper examines the integrity management cycle - both goals and objectives and subsequent component steps - from a business perspective. Traits that businesses require, to glean maximum benefit from such a cycle, are highlighted. A case study focuses upon an integrity and reliability process developed to apply to pipeline operators. installations. This is compared and contrasted to the pipeline integrity management cycle to underline both cycles. consistency with the principles of continuous improvement. (author)

Small Business Management Volume III: Curriculum. An Adult Education Program.

Science.gov (United States)

Persons, Edgar A.; Swanson, Gordon I.

The small business management adult education program outlined in this curriculum guide is designed to help small business entrepreneurs solve their business management problems and attain the goals they have established for their businesses and their families. (An instructor's manual and practice problems are in separate volumes.) The 3-year…

Nordic Management and Sustainable Business

DEFF Research Database (Denmark)

Preuss, Bjørn

2017-01-01

of the Nordics and from that wants to answer if this management approach fosters a sustainable business culture. For defining the management and cultural approach applied in Nordic companies, the method of text mining in relation with machine learning will be used. Among European companies, the Nordic companies...

Risk management as a modern sustainable development of the enterprise management tool

Directory of Open Access Journals (Sweden)

Aikhel K.V.

2017-01-01

Full Text Available Actively embedding in the international market processes, domestic industrial enterprises improve their management tools to create competitive structures. Spread one of the modern approaches to Business Engineering defines risk management as the starting point of building processes of the company. Adapting the method of analyzing hierarchies for quantitative risk assessment will increase the efficiency for the implementation of the new management approach, taking into account the existing time limits and the initial data, which in turn will ensure the stability of enterprises operations in the face of uncertainty. From the point of view of prospect of development, stability of the modern enterprises is also reflection of their competitiveness.

THE RISK INSURANCE EFFICIENCY OF BUSINESS ACTIVITY IN THE AGRICULTURAL SECTOR

Directory of Open Access Journals (Sweden)

O. Lobova

2014-03-01

Full Text Available The necessity of business activity insurance in the agricultural sector is grounded in this article. Different types of agricultural risks are described. The principles, on which the efficiency of agricultural insurance is based, are determined. Such as: voluntary; the farmers interest; risk management; multivariate product line; promote farmers efficient; equal access to subsidies from farmers; balance; transparency and coordination of the subsidies transfer; creating a reliable and multi-level system of insurance coverage; binding institute of independent examination. The different ways to determine the effectiveness of insurance are considered.

Using Intelligent Agents to Manage Business Processes

OpenAIRE

Jennings, N. R.; Faratin, P.; Johnson, M. J.; O'Brien, P.; Wiegand, M. E.

1996-01-01

Management of the business process requires pertinent, consistent and up-to-date information gathering and information dissemination. These complex and time consuming tasks prompt organizations to develop an Information Technology system to assist with the management of various aspects of their business processes. Intelligent agents are the strongest solution candidates because of their many advantages, namely: autonomy, social ability, responsiveness and proactiveness. Given these characteri...

ASBO at 100: A Century of School Business Management

Science.gov (United States)

School Business Affairs, 2010

2010-01-01

This article talks about Association of School Business Officials International (ASBO) at a century of school business management. As ASBO International celebrates its centennial, one should reflect on the truth of this often-heard quote and how it applies to the field of school business management in general and the association in particular.…

Tools and Methods for Risk Management in Multi-Site Engineering Projects

Science.gov (United States)

Zhou, Mingwei; Nemes, Laszlo; Reidsema, Carl; Ahmed, Ammar; Kayis, Berman

In today's highly global business environment, engineering and manufacturing projects often involve two or more geographically dispersed units or departments, research centers or companies. This paper attempts to identify the requirements for risk management in a multi-site engineering project environment, and presents a review of the state-of-the-art tools and methods that can be used to manage risks in multi-site engineering projects. This leads to the development of a risk management roadmap, which will underpin the design and implementation of an intelligent risk mapping system.

The Risk Management Functions in the Conditions of Globalization: Case Study of the Republic of Serbia

Directory of Open Access Journals (Sweden)

Zlatija Jelenković

2016-09-01

Full Text Available Globalization, which represents an important transmission mechanism of the crisis, has led to the necessity for controlling various risks of business, setting a new line of management in companies, regardless of the main business activity they are engaged in. The economic crisis in general, and especially the global financial crises (2007 and the present one led to bankruptcy, and thus to loss of funds of many businesses and individuals. Therefore, it was necessary, on the one hand, to ensure confidence in the financial system and to maintain its stability. On the other hand, the development of corporate governance and separation of functions of ownership and management insisted on the creation of functions that directly report to the owners of capital, such as risk management and internal audit. The value of this paper is in emphasizing the new management function and raising awareness of the scientific public and businesses about the need for introduction of risk management functions in order to facilitate effective management of enterprises, although the survey (2012-2015 has shown that the existence of legal obligations, in this regard penal policy, is the only thing that effectively establishes and promotes this area.

RISK MANAGEMENT FROM THE PERSPECTIVE OF INTERNAL AUDIT

OpenAIRE

Florin-Constantin, DIMA

2013-01-01

The existence of a wide range of risks with actual or potential impact on business entities is a certainty, as well as their influence on company results. In this context, the increase of the economic performance and the implementation of effective activities is strictly related to implementing a risk management system, allowing to define the principal risks of the entity, to identify and assess the risks it faces, and the creation of effective strategies to reduce them.

Too Risk Averse to Stay Honest? Business Corruption, Uncertainty and Attitudes Toward Risk

OpenAIRE

Soreide, T.

2009-01-01

The presence of business-corruption provokes firms to make choices between legal business approaches and illegal bribery. The outcome of a chosen strategy will usually be uncertain at the time the decision is made, and a firm's decision will depend partly on its attitude towards risk. Drawing on empirical results about business corruption, this paper describes the risks, uncertainties and benefits attached to bribery, and specifies their impact on firms' propensity to offer bribes. it then de...

Business Management in the advanced information society

Science.gov (United States)

Saeki, Akio

This is a record of the commemorative lecture at the fifth anniversary of the establishment of the JICST Tohoku Branch Office. Lecturer explains about business management in the information age. "Management" originally means sensing and coping with changes. Thus, the business has to get information as quickly as possible and take the best possible measure for the new issues. As it is definitely important for the business to make an appropriate prediction, information including unknown facts is very valuable. Technological prediction is particulary indispensable for the business. It is available, to some extent, by looking back the steps of technological development in the past. As the characteristics of information age, lecturer explains that there will be less information gap in the world, due to the development of telecommunication technology.

AUTOCHTHONOUS APPROACHING IN THE MANAGEMENT OF THE SECURITY RISK

Directory of Open Access Journals (Sweden)

Burtescu Emil

2008-05-01

Full Text Available An optimal management for a corporation, no matter what size the corporation is, it must contain the management of the security risk. On the importance that is given to the risk management can depend the well functioning of the corporation. An important role in this process has the owner of the business and the way that this one understands the risk. A good understanding of the risk by the owner will have as effect the allocation of sufficient funds to implement controls meant to bring the risk level in order to be an acceptable one. The autochthonous corporations, in a great part even because of the inexistence of reglementations in this domain, have an empiric approach of the phenomena.

Expected Business Conditions and Bond Risk Premia

DEFF Research Database (Denmark)

Eriksen, Jonas Nygaard

2017-01-01

In this article, I study the predictability of bond risk premia by means of expectations to future business conditions using survey forecasts from the Survey of Professional Forecasters. I show that expected business conditions consistently affect excess bond returns and that the inclusion of exp...

Sustainable energy development as an integral part of hydroelectric business management

International Nuclear Information System (INIS)

Lee, W.; Yu, M.; Young, C.

1996-01-01

Elements of Ontario Hydro's strategy for sustainable energy development were discussed, highlighting key developments in the business management practices in Ontario Hydro's Hydroelectric Business Unit. Sustainable development considerations are now integral part of any business case analysis; management of the environment also has been integrated into the Utilities' business management process. Several environmental management practices intended to enhance sustainability have been introduced, including a full-fledged environmental management system based on ISO 14001 standards. Energy efficiency opportunities are aggressively pursued, including turbine upgrades, and energy efficient lighting. Experience to date indicates that business performance and progress towards sustainable energy development need not be mutually exclusive

Business Intelligence and Performance Management

OpenAIRE

TANASE, George Cosmin

2015-01-01

Globalisation, volatile markets, legal changes and technical progress have an immense impact on business environments in most industries. More and more IT is deployed to manage the complexity. As a result, companies and organisations have to handle growing volumes of data which have become a valuable asset. The ability to benefit from this asset is increasingly essential for business success. Therefore, fast storage, reliable data access, intelligent information retrieval, and new decision-ma...

Leadership characteristics and business management in modern academic surgery.

Science.gov (United States)

Büchler, Peter; Martin, David; Knaebel, Hanns-Peter; Büchler, Markus W

2006-04-01

Management skills are necessary to successfully lead a surgical department in future. This article focuses on practical aspects of surgical management, leadership and training. It demonstrates how the implementation of business management concepts changes workflow management and surgical training. A systematic Medline search was performed and business management publications were analysed. Neither management nor leadership skills are inborn but acquired. Management is about planning, controlling and putting appropriate structures in place. Leadership is anticipating and coping with change and people, and adopting a visionary stance. More change requires more leadership. Changes in surgery occur with unprecedented speed because of a growing demand for surgical procedures with limited financial resources. Modern leadership and management theories have to be tailored to surgery. It is clear that not all of them are applicable but some of them are essential for surgeons. In business management, common traits of successful leaders include team orientation and communication skills. As the most important character, however, appears to be the emotional intelligence. Novel training concepts for surgeons include on-the-job training and introduction of improved workflow management systems, e.g. the central case management. The need for surgeons with advanced skills in business, finance and organisational management is evident and will require systematic and tailored training.

Chinese business managers' moral decision-making

OpenAIRE

LIN, NASA

2011-01-01

The topic of this thesis is about moral decision-making, and the main objective of this study is to research the moral decision-making of Chinese business managers based on the analysis of data. The study adopts systematic literature of qualitative research method and is constructed by means of qualitative analysis of 64 data articles. The 64 data articles are the journals from the Database of Chinese Academic Journals, Journal of Business Ethics and other leading business journals from the y...

Model of high-tech businesses management under the trends of explicit and implicit knowledge markets: classification and business model

OpenAIRE

Guzel Isayevna Gumerova; Elmira Shamilevna Shaimieva

2015-01-01

Objective to define the notion of ldquohightech businessrdquo to elaborate classification of hightech businesses to elaborate the business model for hightech business management. Methods general scientific methods of theoretical and empirical cognition. Results the research presents a business model of hightech businesses management basing on the trends of explicit and explicit knowledge market with the dominating implicit knowledge market classification of hightech business...

Internationalizing business education for globally competent managers

NARCIS (Netherlands)

Kedia, Ben L.; Englis-Danskin, Paula

2011-01-01

The world is shrinking as developments in technology and transportation rapidly increase global opportunities and challenges for businesses. Furthermore, developing markets are becoming increasingly important, creating new challenges for managers. Business education must step in and prepare

The Functions of Sourcing Intermediaries in Global Supply Risk Management

DEFF Research Database (Denmark)

Vedel, Mette; Ellegaard, Chris

The aim of this work-in-progress paper is to uncover the supply risk management functions performed by sourcing intermediaries. The purchasing and supply chain management literature, including the part of it concerned with supply risk, pays little attention to sourcing intermediaries....... But the fields of marketing and international business have investigated the intermediary including its high supply risk reducing potentials, suggesting that this supply chain entity may be highly relevant to supply risk management. In order to get a better understanding of the supply risk reducing properties...... of sourcing intermediaries, we perform a study of the Danish clothing industry. The study incorporate interviews across a range of functions and companies in this industry including retailers, producers, suppliers, and various types of intermediaries. We contribute by coupling the supply risk management...

Structuring factoring business: accounting aspects

Directory of Open Access Journals (Sweden)

I.M. Vygivska

2017-08-01

Full Text Available The article theoretically substantiates the fact that factoring belongs to the main operational activity of a factoring company, and this allowed structuring the factoring business by types of activity. The lack of a unified approach to the classification of factoring (factoring services made it possible to systematize and refine their classification as a basis for developing accounting and analytical support for risk management of factoring business. The authors single out such classification signs as: the right of the reverse claim (reverse, irretrievable, a territorial feature (international, internal, the subject of the factoring contract (real, consensual, the availability of notification of the debtor (conventional, confidential. The structuring of factoring business contributes to the identification of the risks of the economic activities of a factoring company depending on the type of factoring, the development of methodological support for the bookkeeping of factoring transactions in a risk environment, the search for risk management practices and the determination of management effectiveness in general.

Review of the project risk management plan in the capital projects organization at ConocoPhillips

OpenAIRE

Meidell, Camilla

2011-01-01

Master's thesis in Risk management Project Risk Management (PRM) has in recent years become an important aspect of business organization and project management. There has always been a requirement for some risk management at COPNO. However about 3 years ago the process became much more defined and has become a requirement for the contingency used on projects to be based upon the risking process. Since risk management in projects is a requirement in the CP organization it is ...

The Domains of Undergraduate International Business and International Management Courses in Accredited Schools of Business

Science.gov (United States)

Adams, Janet S.; Veliyath, Rajaram

2003-01-01

This study compared undergraduate international business and international management course syllabi from 190 management departments at accredited U.S. business schools. Comparisons revealed considerable overlap in topic areas in the two courses. The findings indicate the need for greater domain clarity and differentiation in objectives, topic…

People management as indicator of business excellence

DEFF Research Database (Denmark)

Haffer, Rafal; Kristensen, Kai

2010-01-01

Purpose – This paper aims to show the importance of people management as a key indicator of business excellence based on four research projects, conducted on the samples of Polish (in the years 2004-2005 and 2006-2007) and Danish companies (in 1999 and 2005). Design/methodology/approach – EFQM...... it possible to compare developing Polish and developed Danish companies in their initiatives aiming at business excellence. Findings – The results indicate significant negligence in the management of human resources as one of the initiatives towards business excellence of Polish enterprises before Poland...... Excellence Model indicators were used as the evaluation criteria for the studies. The data were next estimated as a structural equation model by partial least squares using SmartPLS software. That estimation was conducted on the model of the Danish Business Excellence Index methodology. Presented data make...

How do small business managers influence employee satisfaction and commitment?

Directory of Open Access Journals (Sweden)

Janine Kruger

2010-12-01

Originality and value of the research : This research focused on what small business managers should concentrate on when motivating their employees. Small business managers should also realise that motivation cannot be separated from employee satisfaction and commitment. The value of the research is that when small business managers pay more attention to these factors as identified in this study, it may lead to better business performance in the long run. With regard to the originality of this research, previous research has focused mainly on motivational theories without reaching a conclusion or highlighting possible strategies that could be used by small businesses to motivate employees.

A benchmarking framework to evaluate business climate change risks: A practical tool suitable for investors decision-making process

Directory of Open Access Journals (Sweden)

Nikolaos Demertzidis

2015-01-01

Full Text Available A fundamental concern for the investor community is to identify techniques which would allow them to evaluate and highlight the most probable financial risks that could affect the value of their asset portfolio. Traditional techniques primarily focus on estimating certain conventional social-economic factors and many fail to cover an array of climate change risks. A limited number of institutional documents present, to a somewhat limited extent, some general-defined types of business climate change risks, which are deemed most likely to influence the value of an investors’ portfolio. However, it is crucial that stakeholders of businesses and scholars consider a wider range of information so as to assist investors in their decision making. This paper aims at establishing a new framework to operationalize and quantify an array of business climate change risks to provide more comprehensive and tangible information on non-traditional risks. This framework relies on the benchmarking – scoring systems and Global Reporting Initiative (GRI guidelines, and is applied to various Greek businesses that are certified by Environmental Management and Audit Scheme (EMAS.

RISK MANAGEMENT FROM THE PERSPECTIVE OF INTERNAL AUDIT

Directory of Open Access Journals (Sweden)

Florin-Constantin, DIMA

2013-12-01

Full Text Available The existence of a wide range of risks with actual or potential impact on business entities is a certainty, as well as their influence on company results. In this context, the increase of the economic performance and the implementation of effective activities is strictly related to implementing a risk management system, allowing to define the principal risks of the entity, to identify and assess the risks it faces, and the creation of effective strategies to reduce them.

Business modelling of strategic management by the enterprise intellectual capital

OpenAIRE

Zhuravleva, I.

2009-01-01

The article is devoted to the resource and process approach to formation of the strategic management concept by the enterprise intellectual capital. The business model of strategic management by the intellectual capital in the environment of system business-modelling Business Studio 3 is developed.

Small Business Management. Going-Into-Business Modules for Adult and/or Post Secondary Instruction.

Science.gov (United States)

Rice, Fred; And Others

Fifteen modules on small business management are provided in this curriculum guide developed for postsecondary vocational instructors. Module titles are as follow: decision making steps; financing a small business; location of a small business; record systems; the balance sheet and profit and loss statement; purchasing; marketing; sales; cash…

Business process quality management

NARCIS (Netherlands)

Reijers, H.A.; Mendling, J.; Recker, J.; Brocke, vom J.; Rosemann, M.

2010-01-01

Abstract Process modeling is a central element in any approach to Business Process Management (BPM). However, what hinders both practitioners and aca demics is the lack of support for assessing the quality of process models — let alone realizing high quality process models. Existing frameworks are

Beyond Quarterly Earnings: Preparing the Business Community for Long-term Climate Risks

Science.gov (United States)

Carlson, C.; Goldman, G. T.

2014-12-01

The business community stands to be highly impacted by climate change. In both short and long-term timescales, climate change presents material and financial risks to companies in diverse economic sectors. How the private sector accounts for long-term risks while making short-term decisions about operations is a complex challenge. Companies are accountable to shareholders and must report performance to them on a quarterly basis. At the same time, company investors are exposed to long-term climate-related risks and face losses if companies fail to prepare for climate impacts. The US Securities and Exchange Commission (SEC) obligates publicly traded companies to discuss risks that might materially affect their business and since 2010, the agency recommends that companies consider and discuss any significant risks to their business from climate change. Some companies have complied with this guidance and comprehensively analyze potential climate change impacts, yet others fail to consider climate change at all. Such omissions leave companies without plans for addressing future risks and expose investors and the public to potential catastrophic events from climate change impacts. Climate risk projections can inform companies about the vulnerability of their facilities, supply chains, transportation pathways, and other assets. Such projections can help put climate-related risks in terms of material costs for companies and their investors. Focusing on the vulnerability of coastal facilities, we will use climate change impact projections to demonstrate the economic impacts of climate change faced by the private sector. These risks are then compared to company disclosures to the SEC to assess the degree to which companies have considered their vulnerability to climate change. Finally, we will discuss ways that companies can better assess and manage long-term climate risks.

BUSINESS PROCESS MANAGEMENT SYSTEMS TECHNOLOGY COMPONENTS ANALYSIS

Directory of Open Access Journals (Sweden)

Andrea Giovanni Spelta

2007-05-01

Full Text Available The information technology that supports the implementation of the business process management appproach is called Business Process Management System (BPMS. The main components of the BPMS solution framework are process definition repository, process instances repository, transaction manager, conectors framework, process engine and middleware. In this paper we define and characterize the role and importance of the components of BPMS's framework. The research method adopted was the case study, through the analysis of the implementation of the BPMS solution in an insurance company called Chubb do Brasil. In the case study, the process "Manage Coinsured Events"" is described and characterized, as well as the components of the BPMS solution adopted and implemented by Chubb do Brasil for managing this process.

The Role of Knowledge Management in E-Business Strategy

Directory of Open Access Journals (Sweden)

Ali Khalouei

2014-09-01

Full Text Available The purpose of this research is to study the role of knowledge management in building an E-business strategy. In terms of purpose, nature and data collection, the research is respectively an applied, descriptive-survey and field study research. The population of the research consisted of two groups. The first one included 10 experts in the field of knowledge management and E-who determined the validity of the research instrument. In the second stage and to test hypothesizes, 180 usable questionnaires were gathered from people who were related to E-business. In the first stage of the research, the role of knowledge management in implementing each stage of E-business strategy bulling model of Hackbarth and Kettinger, including initiation, diagnosis, strategic choice, and transition, was verified by experts. Then the rate of using knowledge management in building an E-Business strategy by three great Iranian companies was studied. The result of the present research shows that in these three companies, knowledge management has a significant role in all stages of building an E-Business strategy. However, the importance of the mentioned role in each activity and is far different.

Minding your Own Small Business - An Introductory Curriculum for Small Business Management. Volume I.

Science.gov (United States)

Holt, Nancy; And Others

Ten units on the basic knowledge and skills needed to manage a small business are provided in this curriculum guide designed for use with secondary and postsecondary students. Unit topics include forms of businesses, marketing, location, systems and records, promotion, pricing, human relations, financing a business, and effects of business…

Managing creativity in business market relationships

DEFF Research Database (Denmark)

Andersen, Poul Houman; Kragh, Hanne

2013-01-01

The guest editors' introduction to the Special Issue on managing creativity in business market relationships positions the topic at the intersection between interorganizational research and creativity research. It introduces three paradoxes that managers of such processes face: a) the tension...

The Perception Gap: Recognizing and managing the risks that arise when we get risk wrong.

Science.gov (United States)

Ropeik, David

2012-05-01

Many in the academic, science, and business communities are frustrated at how people perceive and respond to risk, lamenting that the lay public is sometimes more afraid of some threats than the evidence warrants, and less afraid of some dangers than the evidence warns. This is often ascribed to the alarmist way the news media cover risk-related subjects. That criticism is simplistic and unproductive, and ignores or dismisses the large body of research that finds that the perception of risk is not, and can never be, perfectly rational. Risk perception among members of the public, the media, and members of the academic, scientific, and business communities, is ultimately subjective. The gap between our fears and the evidence is not simply the product of alarmist media reporting. This 'Perception Gap' poses significant risks in and of itself, influencing the choices we make as individuals and as a society. The roots of the Perception Gap must be understood if we are to recognize the dangers that can arise when we sometimes get risk wrong, and in order that we may more wisely manage those risks as actively as we manage toxicological or food or other risks with which we are more familiar. Copyright © 2012 Elsevier Ltd. All rights reserved.

MANAGEMENT PECULIARITIES FOR THE PRACTICE OF BUSINESS DIPLOMACY

Directory of Open Access Journals (Sweden)

Ioana GUTU

2017-12-01

Full Text Available As part of the top management actions, business diplomacy involves keeping the relations of the multinational corporations with foreign government representatives, NGOs, coalitions and other entities that are not companies, with the purpose of building business relations in an international environment. The research aims for better describing the actions and consequences on a decisional level for the managers that act as business diplomats within the companies they represent. Since it is not clear how the multinational corporations conduct business diplomacy, a term often confused or mixed with corporate diplomacy, the article will use an extensive business literature review, in order to define any similarities and differences in practice, specific for the international business environment. The results will show that the international relations among the two environments studied, corporate and other representatives, show a strong dependence on the company mission and organizational behavior, as well as the national and international law, but also of the manager’s background and international experience.

The Just in Time Approach To Effectively Use Business Software in College Business Courses.

Science.gov (United States)

Hoyt, Brian R.

The skills necessary to compete in a fast paced business environment--critical thinking, risk taking, team building, project management, and others--are not and cannot be addressed in the traditional delivery of an undergraduate business course. The Ohio University-Lancaster Management program uses a project based, just-in-time (JIT) approach to…

COORDINATES OF A RISK MANAGEMENT PROJECT

Directory of Open Access Journals (Sweden)

ALEXANDRU OLTEANU

2013-05-01

Full Text Available High risk – high benefit: a well-known correlation both in the economic field and in the day-to-day life. Another correlation, on which this article is based: large project – numerous participants – increased risks and other malfunctions. The risk management concept is challenged by those projects and is forced to find the most adequate “customized” ways for each project at its turn. In this respect, the assessment of management has followed the trend of the last three decades, marked by moving of management profit analysis by risk intermediation, respectively the transition from managing profit to risk-return relationship management. Such trend assumes the obligation of participants to identify objectives and expected benefits of the project on the basis of the strategies laid-down, the elements of risk management policies, in conjunction with the indication of the most negative scenarios which they may provide. This activity must take into consideration the process of obtaining and combining human, financial, physical and information resources in order to accomplish the primary goal of the proposed and wanted project by a certain segment of population. Project participants are directed to evaluate their own activities in terms of revenues and risks from the business access, opportunity, operating mode, as well as the limitations and boundaries on certain sides of activity. The paper focuses on the analysis and evaluation of incomes and risks, on simulations to streamline the activities and the determination of the optimal model of project choice. Also, the paper treats the risks that can be taken over by the sponsors, especially those related to implied guaranties, even implied guaranties.

BUSINESS PROCESSES TRANSFORMATION IN THE METHODOLOGY OF MULTILEVEL FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Andrey G. Mikheev

2016-01-01

Full Text Available The article discusses the application of process approach to financial management. The multilevel financial management methodology is described. It is based on the delegation of the financial management functions in the downstream division of the organization, process automation, transfer of financial resources between units of different levels of the hierarchical structure of the credit institution, the implementation of a financial management mechanism of the process approach, execution of business processes in the computer environment, using the strategic management of the organization by changing the coefficients, which are the parameters of decentralized control mechanism, using the construction of the «fast» financial indicators, taking into account the terms of financial resources transfer transactions and effective transformation of business processes. The article is focused on the credit institution business management through the application of process transformation to transfer funds business processes.

Risks and governance modes in offshoring decisions : Linking supply chain management and international business perspectives

NARCIS (Netherlands)

Patrucco, A.S.; Scalera, V.G.; Luzzini, D.

2016-01-01

Governing offshoring has become a major challenge for firms that run operations outside the home country. International business (IB) and supply chain management (SCM) literature offer different insights on the topic, focusing especially on possible governance modes and the drivers of this choice,

A Thai Tale: School Business Management beyond the Classroom

Science.gov (United States)

Robinson, Ann

2012-01-01

The author is fairly familiar with the work dimensions of a business manager and has pretty much attended most of the professional development "how-to" sessions on everything from asset management to school budgets and beyond. When she thinks about what business managers do in schools and how much of what they do actually adds value, she…

Teaching Strategic Management with a Business Game.

Science.gov (United States)

Knotts, Ulysses S., Jr.; Keys, J. Bernard

1997-01-01

Management games are increasingly used to teaching strategic management by integrating functional areas of business and providing a working knowledge of the strategic management process. This article summarizes the experience of two veteran instructors, presenting course learning objectives, game pedagogy, team organization and management, game…

Knowledge Management Barriers Identification for the Four Kinds of Business Processes

Directory of Open Access Journals (Sweden)

Mina Ranjbar Fard

2013-03-01

Full Text Available This paper presents an appropriate categorization of business processes in order to study the different aspects of knowledge management for each kind of business processes. In this categorization, business processes are classified into the four categories including work-flow oriented, decision oriented, information oriented and motivation oriented. Then, the special attributes and knowledge management barriers for each kind of business processes are discussed. Findings from the literature led to some hypotheses about the most important knowledge management barriers in the four different kinds of business processes. Tentative theory has improved through two case studies for a work-flow oriented business process and a decision oriented business process. Research findings help managers to have process perspective in implementing KM initiatives and remove the most important barriers of KM regarding the type of the considered business processes. Improving the hypotheses related to the information oriented and collaborate oriented business processes through case study in their instance processes and also testing the introduced hypotheses are good start points for further research in the future.

Managing University Business Educational Quality: ISO or AACSB?

Science.gov (United States)

Dumond, Ellen J.; Johnson, Thomas W.

2013-01-01

Purpose: The purpose of this paper is to provide insight into quality management for business education. The paper provides business schools and Association to Advance Collegiate Schools of Business (AACSB) with information about two different quality standards and suggests how the AACSB accreditation process might be strengthened--thereby…

The transfer of a health insurance/managed care business.

Science.gov (United States)

Gavin, John N; Goodman, George; Goroff, David B

2007-01-01

The owners of a health insurance/managed care business may want to sell that business for a variety of reasons. Health care provider systems may want to exit that business due to operating losses, difficulty in complying with regulations, the inherent conflict in operating that business as part of a provider system, or the desire to focus on being a health care provider. Health insurers/HMOs may want to sell all or a portion of their business due to operating losses, difficulty in servicing a particular market, or a desire to focus on other markets. No matter what reason prompts a seller to undertake a sale, a sale of health insurance/managed care business can be a complicated transaction involving a multitude of issues. This article will focus first on the ways in which such a sale may be structured. The article will then discuss some transactional issues that may arise in the negotiations for the sale of a health insurance/managed care business. The article will then focus on some particular legal issues that arise in each sale-e.g., antitrust, HIPAA, regulatory approvals, and charitable issues. Finally, this article will provide an overview of tax structuring considerations.

RISK MANAGEMENT IN THE OPERATING ACTIVITIES OF AN ENTERPRISE AND IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS

Directory of Open Access Journals (Sweden)

Lech Jędrzejewski

2017-03-01

Full Text Available The paper is devoted to issues related to building a risk management system for businesses in the areas of operations and implementation of infrastructure projects. The article defines the concept of risk in business processes and identifies risks occurring in infrastructure projects. In the text, the principles have been presented for protection against the effects of political, contracting, environmental, ecological, product, process, operational and personnel risk.

Data management is the new 'winning' approach in the business of sports

DEFF Research Database (Denmark)

Cortsen, Kenneth

2016-01-01

Data management is a trend with the potential to create a positive turnaround for your business. In the business of sports, data management enhances the opportunities to improve organizational performances and brand equity.......Data management is a trend with the potential to create a positive turnaround for your business. In the business of sports, data management enhances the opportunities to improve organizational performances and brand equity....

Dairy farmer use of price risk management tools.

Science.gov (United States)

Wolf, C A

2012-07-01

Volatility in milk and feed prices can adversely affect dairy farm profitability. Many risk management tools are available for use by US dairy farmers. This research uses surveys of Michigan dairy farmers to examine the extent to which price risk management tools have been used, the farm and operator characteristics that explain the use of these tools, and reasons farmers have not used these tools. A 1999 survey was used to benchmark the degree to which dairy producers had used milk and feed price risk management instruments to compare with 2011 use rates. The surveys collected information about the farm characteristics such as herd size, farmland operated, business organization, and solvency position. Farm operator characteristics collected include age, education, and experience. Dairy farmer use of both milk and feed price risk management tools increased between 1999 and 2011. In 2011, herd size was positively related to the use of milk price risk management tools, whereas farms organized as a sole proprietorship were less likely to use them. Also in 2011, herd size and land operated were positively related to feed price risk management tools, whereas operator age was negatively related. Reasons why farmers had not used price risk management tools included basis risk, cost, lack of management time, cooperative membership, and lack of understanding. Conclusions include the need for educational programming on price risk management tools and a broader exploration of dairy farm risk management programs. Copyright © 2012 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

FAMILY BUSINESS AND PROFESSIONAL MANAGEMENT: CASE STUDIES IN BUSINESS OF THE STATE OF SÃO PAULO

OpenAIRE

Victor Antonio Barros Belmonte; Wesley Ricardo Souza Freitas

2013-01-01

The present study was to examine, from two case studies, management processes (strategic planning, management control systems and human resources) and cultural (succession and organizational culture) two family businesses in the state of São Paulo. Concepts were discussed, and specific features, as well as factors related to organizational management of family businesses (planning, control, people management, culture and succession) to support the studies described. Through interviews and obs...

Risk Management in Banking:The Tendency of Risk Management Development and Changes in Financial Crisis.