Enterprise Risk Management in Terms of Organizational Culture and Its Leadership and Strategic Management

2017 ◽  
pp. 65-112
Author(s):  
Ayse Kucuk Yilmaz ◽  
Triant Flouris
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Strategic Management ◽  
Enterprise Risk Management ◽  
Enterprise Risk

scholarly journals The Effect of Enterprise Risk Management on Ameliorating Competitive Advantage: A Cross-Sectional Study of Software Houses in Pakistan

2021 ◽  
Vol 29 (4) ◽  
pp. 2525-2543
Author(s):  
Sameeta Javaid ◽  
Faheem Aslam
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Competitive Advantage ◽  
Structural Equation ◽  
Enterprise Risk Management ◽  
Primary Data ◽  
Equation Modeling ◽  
Validity And Reliability ◽  
Cross Sectional ◽  
Enterprise Risk

In the current dynamic environment, organizations need a more anticipatory and effective risk management system. Implementing the holistic Enterprise Risk Management (ERM) process will perceive, analyze, and assess risks as they must be regarded from the entire enterprise’s perspective. The research aims to empirically analyze the effect of ERM practices on the Competitive Advantage (CA) and examine the moderating role of Organizational Culture (OC) in the Software industry of Pakistan. The primary data were obtained from 250 respondents through the questionnaire method. The validity and reliability were analyzed by using Structural Equation Modeling Analysis, PLS Algorithm, and Bootstrapping. The results show that the implementation of ERM has a significant effect on firms’ competitive advantage. The analysis supports the hypothesis and identifies the positive moderating effect of organizational culture in carrying out ERM programs, which can enhance organizational competitiveness. This study is useful for managers to help them in the planning and decision-making phase so that they can act responsibly in a rapidly changing environment and consider organizational culture as one of the key factors of the ERM program that helps accomplish organizational competitiveness.

Enterprise Risk Management: Re-Conceptualizing the Role of Risk and Trust on Information Sharing in Transnational Alliances

2014 ◽  
Vol 28 (2) ◽  
pp. 257-285 ◽  
Author(s):  
Vicky Arnold ◽  
Tanya S. Benford ◽  
Clark Hampton ◽  
Steve G. Sutton
Keyword(s):  
Risk Management ◽  
Theoretical Model ◽  
Strategic Management ◽  
Information Sharing ◽  
Enterprise Risk Management ◽  
Equation Modeling ◽  
Research Model ◽  
Sensitivity Testing ◽  
Enterprise Risk ◽  
Competing Models

ABSTRACT Globalization places greater emphasis on the development of transnational alliances. The greatest benefits from alliances are derived from high-level information sharing, but vulnerability escalates with information sharing. This study examines risk in transnational alliances based on a theoretical model drawing from enterprise risk management (ERM) as a strategic management effort. This theoretical model posits that ERM strategies focus on business risk as the primary determinant of alliance partner selection and continuity, particularly within global relationships, whereas prior management control research focused on trust. The purpose of this study is to examine the influence of ERM on risk and trust associated with transnational alliances and the resulting impact on interorganizational information sharing. Survey data are gathered from 200 senior-level managers monitoring transnational alliances. Structural equation modeling is used to test the hypothesized relationships. Results provide strong support for the research model, showing that high ERM is associated with decreased risk, increased trust, and enhanced information sharing. Given the ongoing debate over the relationship directionality between trust and risk, we conducted additional sensitivity testing. Competing models focusing on trust as the key control mechanism are tested to assess the strength of our research model. Our risk-oriented research model demonstrates stronger explanatory power than competing models. Overall, our results show ERM substantially alters strategic management of transnational alliances, and has become a major influence on interorganizational risk, trust, and information sharing.

scholarly journals Assessing and Re-setting Culture in Enterprise Risk Management

2018 ◽  
Vol 85 (1-2) ◽  
pp. 131-172
Author(s):  
Harold Weston ◽  
Thomas A. Conklin ◽  
Kristen Drobnis
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Cultural Change ◽  
Enterprise Risk Management ◽  
Organizational Studies ◽  
Risk Manager ◽  
Enterprise Risk ◽  
Risk Managers

Among the tenets of enterprise risk management (ERM) is the need to instill a risk-aware culture throughout the firm. Yet, how to actually interpret and change organizational culture is generally missing from the ERM literature. Prior surveys found risk managers lacked useful information about organizational culture and cultural change to implement a “risk aware culture.” Our survey of risk managers found this gap persists. The disciplines of organizational studies, business anthropology and sociology provide guidance on organizational culture, which involves identifying and interpreting the embedded assumptions, values, myths, artifacts, rituals, and stories that communicate and perpetuate a culture. The risk manager can use this knowledge to apply change to the culture. Changing behavior without changing culture may simply result in compliance without adoption. This article seeks to bridge the studies of organizational culture and change to the risk manager.

scholarly journals THE EFFECT OF ENTERPRISE RISK MANAGEMENT, KNOWLEDGE MANAGEMENT, AND ORGANIZATIONAL CULTURE ON ORGANIZATIONAL RESILIENCE

2021 ◽  
Vol 3 (2) ◽  
pp. 93
Author(s):  
Zef Arfiansyah
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Knowledge Management ◽  
Enterprise Risk Management ◽  
Organization Culture ◽  
Primary Data ◽  
Organizational Resilience ◽  
Theoretical Point ◽  
Management Knowledge ◽  
Enterprise Risk

This study aims to identify the influence of Enterprise Risk Management, Knowledge Management, and Organizational Culture on the company's ability to survive in an ever-changing environment. This research is a quantitative study using primary data. The data were obtained through a questionnaire distributed to accountants who held the lowest supervisory positions in private Indonesian companies. With a sample of 103 respondents, the data were processed using linear regression. This study found that in the context of companies in Indonesia, Enterprise Risk Management and Organizational Culture can increase Organizational Resilience. However, this study failed to prove the role of Knowledge Management in Organizational Resilience. This study provides contributions in both managerial and theoretical aspects. In the managerial aspect, this study implies ERM and organization culture are elements that should be implemented so that companies can survive in a volatile environment. From a theoretical point of view, this research has proven that in the long term ERM is able to maintain organizational resilience. Besides, this study also indicates that knowledge management is still not widely applied by companies in Indonesia. For this reason, the attention of management so that knowledge management is applied needs to be improved.

Effect of Enterprise Risk Management on Firm Value: Empirical Evidence from Non-Financial Firms in Pakistan

GIS Business ◽  
1970 ◽  
Vol 13 (2) ◽  
pp. 15-28
Author(s):  
Nouman Nasir
Keyword(s):  
Risk Management ◽  
Firm Value ◽  
Positive Impact ◽  
Stock Exchange ◽  
Enterprise Risk Management ◽  
Least Square ◽  
Return On Equity ◽  
Financial Firms ◽  
Enterprise Risk ◽  
Ordinary Least Square Regression

This research examines the effect of enterprise risk management on firm value in Pakistan. Further, this study empirically examines company characteristics that establish the execution of an enterprise risk management system. Using a sample of final dataset of 83 non-financial firms located in Pakistan. The sample included non-financial firms from the year 1999 to 2015 and so up to seventeen observation years per company. As in context of Pakistan, most of the organizations are already implement an ERM programs and establish specialized ERM departments because the ERM is now a global term and has become increasingly relevant because of the growing difficulty of risk and an additional development of regulatory frame works. For the empirical evidences, data collected from non-financial firms listed at the Pakistan Stock Exchange (PSX). Results of logistic regression shows that Capital Opacity, Profitability, Financial Leverage, Firm Size and Slack have positive impact on the implementation of an ERM system but Industrial diversification, Industry and Return on Equity are negatively related to an ERM engagement. The results of ordinary least square regression finds positive relationship between use of an ERM and firm value.

MODELLING AND CONTROLLING THE ENTERPRISE RISKS COMPLEX ASSESSMENT SYSTEMON THE BASIS OF RUSSIAN STATE STANDARD ISO 9001-2015 CONCERNING RISK-ORIENTED THINKING. GENERAL PROBLEMS AND WAYS OF SOLVING THEM

2020 ◽  
Vol 2020 (2) ◽  
pp. 33-41
Author(s):  
Irina Merzlyakova ◽  
Aleksandr Feofanov
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
State Standard ◽  
Control Model ◽  
Enterprise Risk Management ◽  
Iso 9001 ◽  
Management Procedure ◽  
Russian State Standard ◽  
Russian State ◽  
Enterprise Risk

The article considers general problems of implementing the enterprise risk management procedure. One of the ways to solve the problems arising when meeting Russian state standard ISO 9001-2015 requirements concerning risk-oriented thinking is presented. A risk assessment control model aimed at coordinating all kinds of the enterprise departments activities, forming a clear algorithm of risk management procedure implementation and attracting a greater number of employees towards this activity is offered.

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