Joint Risk Design in Swiss Middle-Sized Service Companies: Frameworks and Management Practices

2016 ◽  
Vol 20 (1) ◽  
Author(s):  
Jens O. Meissner
Keyword(s):  
Risk Management ◽  
Role Models ◽  
Management Practices ◽  
Qualitative Interviews ◽  
Public Institutions ◽  
Decision Makers ◽  
Business Organizations ◽  
Service Companies ◽  
Strong Focus ◽  
High Degree

Abstract:Today’s social reality will doubtless alter the risk management practices of organizations of all kinds. Whereas large companies and public institutions serve as role models and have the resources to apply standards or develop and set them by themselves, mid-sized businesses usually do not have this possibility. Instead, they apply management practices that base on existing management routines and their typical organizational characteristics. But how do these practices look like? And what is the semantic program that is performed by the organization to manage the risks? This empirical paper contains the analysis of typical risk management practices in mid-sized service companies in Switzerland. The study relies on open, qualitative interviews with top level decision-makers resulting in the description of the characteristics of six companies. The analysis shows that these firms mainly focus on project risk management, and combine it with a strong focus on business speed and agility, the smart combination of their talent pool in teams, the application of a non-bureaucratic governance style and a conscious acceptance of a high degree of intuition in management decisions. This research contributes to a better understanding of the risk design of mid-sized business organizations as very important societal units in splitting, pooling, distributing and addressing their risks.

Risk Management Decisions and Organizational Structure in the Case of a Development Management Firm

2013 ◽  
pp. 181-202
Author(s):  
Mohammad Baydoun
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Organizational Structure ◽  
Large Scale ◽  
Management Practices ◽  
Decision Makers ◽  
Management Approach ◽  
Development Projects ◽  
High Level ◽  
Large Scale Project

This case aims to analyze risk management practices of Millennium Development International (MDI) and suggest enhancements based on a theoretical framework derived from the literature while considering the implications to its organizational structure. Al-Shamiyah project in Makkah, Saudi Arabia, is used as an example to illustrate the practices of MDI. Due to a high level of risk associated with large-scale development projects, it is argued that the traditional risk management approach is not convenient to the context of these projects. Each large-scale project has a high level of uniqueness that renders benchmarks generated out of previous projects obsolete. Hence, a reactive risk management approach is being promoted. For the purpose of optimizing this approach, engaging necessary experts and securing the presence of key decision makers in the process, the formulated system defines key milestones at which risks need to be assessed and proper decisions need to be taken.

Risk Management Decisions and Organizational Structure in the Case of a Development Management Firm

2016 ◽  
pp. 1220-1237 ◽  
Author(s):  
Mohammad Baydoun
Keyword(s):  
Risk Management ◽  
Saudi Arabia ◽  
Organizational Structure ◽  
Large Scale ◽  
Management Practices ◽  
Decision Makers ◽  
Management Approach ◽  
Development Projects ◽  
High Level ◽  
Large Scale Project

This case aims to analyze risk management practices of Millennium Development International (MDI) and suggest enhancements based on a theoretical framework derived from the literature while considering the implications to its organizational structure. Al-Shamiyah project in Makkah, Saudi Arabia, is used as an example to illustrate the practices of MDI. Due to a high level of risk associated with large-scale development projects, it is argued that the traditional risk management approach is not convenient to the context of these projects. Each large-scale project has a high level of uniqueness that renders benchmarks generated out of previous projects obsolete. Hence, a reactive risk management approach is being promoted. For the purpose of optimizing this approach, engaging necessary experts and securing the presence of key decision makers in the process, the formulated system defines key milestones at which risks need to be assessed and proper decisions need to be taken.

scholarly journals Deriving customized terrain classes for avalanche risk management in mechanized skiing operations from operational terrain assessments

2018 ◽  
Author(s):  
Reto Sterchi ◽  
Pascal Haegeli
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Decision Aids ◽  
Decision Makers ◽  
Terrain Classification ◽  
Self Organizing Maps ◽  
New Approach ◽  
The Past ◽  
Avalanche Risk Management ◽  
Avalanche Risk

Abstract. An in-depth understanding of the nature of the available terrain and its exposure to avalanche hazard is crucial for making informed risk management decisions when travelling in the backcountry. While the Avalanche Terrain Exposure Scale (ATES) is broadly used for providing recreationists with terrain information, this type of terrain classification has so far only seen limited adoption within the professional ski guiding community. We hypothesize that it is the generic nature and small number of terrain classes of ATES and its precursor systems that prevent them from offering professional decision makers meaningful assistance. Working with two mechanized skiing operations in British Columbia, Canada, we present a new approach for deriving terrain classifications from daily terrain assessment records. We used a combination of self-organizing maps and hierarchical clustering to identify groups of ski runs that have been assessed similarly in the past and organized them into operation-specific terrain hierarchies. We then examined the nature of the emerging terrain hierarchies using comprehensive run characterizations from experienced guides. Our approach produces high-resolution terrain hierarchies that offer a more nuanced and meaningful perspective on the available skiing terrain and provide new opportunities for examining professional avalanche risk management practices and developing meaningful decision aids.

scholarly journals A method of deriving operation-specific ski run classes for avalanche risk management decisions in mechanized skiing

2019 ◽  
Vol 19 (1) ◽  
pp. 269-285 ◽  
Author(s):  
Reto Sterchi ◽  
Pascal Haegeli
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Decision Aids ◽  
Decision Makers ◽  
Management Decisions ◽  
Self Organizing Maps ◽  
New Approach ◽  
The Past ◽  
Avalanche Risk Management ◽  
Avalanche Risk

Abstract. An in-depth understanding of the nature of the available terrain and its exposure to avalanche hazard is crucial for making informed risk management decisions when travelling in the backcountry. While the Avalanche Terrain Exposure Scale (ATES) is broadly used for providing recreationists with terrain information, this type of terrain classification has so far only seen limited adoption within the professional ski guiding community. We hypothesize that it is the generic nature and small number of terrain classes of ATES and its precursor systems that prevent them from offering meaningful assistance to professional decision makers. Working with two mechanized skiing operations in British Columbia, Canada, we present a new approach for deriving terrain classifications from daily terrain assessment records. We used a combination of self-organizing maps and hierarchical clustering to identify groups of ski runs that have been assessed similarly in the past and organized them into operation-specific ski run hierarchies. We then examined the nature of the emerging ski run hierarchies using comprehensive run characterizations from experienced guides. Our approach produces high-resolution ski run hierarchies that offer a more nuanced and meaningful perspective on the available skiing terrain and provide new opportunities for examining professional avalanche risk management practices and developing meaningful decision aids.

scholarly journals Pre-crime and Policing of Migrants: Anticipatory Action Meets Management of Concerns

2019 ◽  
Vol 24 (1) ◽  
pp. 90-109
Author(s):  
Helene OI Gundhus ◽  
Pia T Jansen
Keyword(s):  
Resource Allocation ◽  
Risk Management ◽  
Knowledge Production ◽  
Qualitative Interviews ◽  
Decision Makers ◽  
Knowledge Practices ◽  
Risk Intelligence ◽  
Anticipatory Action ◽  
And Control

In 2015 the Norwegian police initiated its first national intelligence project—Operation Migrant. One central aim was to predict crime challenges related to increased migration to improve future resource allocation. Based on qualitative interviews with those managing the operation, this article foregrounds the question of how attempts to reduce uncertainties and manage what is perceived as migration-related threats and risks, shape not only ideas of risk in policing of migration but also influence the importance of precautionary logic in regular policing. First, we analyse how knowledge production built on risk management and sharing of risk intelligence products are co-produced by intelligence staff and decision-makers. Thereafter, we discuss paradoxical outcomes of a calculated and precautionary logic applied to policing migrants. Concretely, the article focuses on how anticipatory knowledge practices seem to enlarge the space for probabilities, making it even more complex and contested to reduce and control uncertainty.

scholarly journals ASSESSMENT CRITERIA OF PROJECT RISK MANAGEMENT IN LANGUAGE TRANSLATION SERVICE COMPANIES

2018 ◽  
Vol 24 (4) ◽  
pp. 1323-1343 ◽  
Author(s):  
Asta Zaveckaite ◽  
Aurelija Ulbinaite
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Language Translation ◽  
Assessment Criteria ◽  
Top Management ◽  
Project Risk Management ◽  
Project Risk ◽  
Service Companies ◽  
Critical Success ◽  
Translation Service

Risk management in translation service companies is an effective, integrative, proactive way to handle risk. Such companies must integrate defined long-term risk management into their strategies, decision-making, and daily processes; top-management must fully support the risk management system; risk factors, management benefits, and processes require articulation amongst employees; job roles, responsibilities, performance evaluation, and motivation systems must incorporate risk management practices. Risk management in project-based companies might also account for changing clients’ requirements, tight deadlines and budgets, different participants, and high IT use. However, this requires identifying the critical success factors. The research method builds upon the analysis and systemization of the scientific literature – from risk management, emphasizing the underlying strategic approach and effective management, to deriving the focal-points of effective risk management of translation projects. This work unifies the gathered knowledge and results in a conceptual model that integrates the specific assessment criteria for project risk management in translation companies – process definiteness and versatility, responsibility definiteness, top-management involvement, and risk management communication. The operationalisation of the model may lead to the companies’ critical success performance. To the best of our knowledge, this work is one of the first contributions addressing risk management assessment criteria in this industry.

Governmental Risk Management in Public Policy and Legislation: Problems and Options

1977 ◽  
Vol 2 (2) ◽  
pp. 255-317 ◽  
Author(s):  
Werner Pfennigstorf
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Insurance Coverage ◽  
Business Organizations ◽  
Government Officials ◽  
Municipal Governments ◽  
Wide Range ◽  
Mutual Insurance ◽  
Liability Risk ◽  
Traditional Approaches

Governments, like business organizations, are exposed to risks of many kinds and have a wide range of options how to respond–from bearing the full risk themselves to obtaining full insurance coverage. The author discusses some of the traditional approaches to governmental risk management in the light of new and increasing risks–such as the liability risk–and the growing sophistication of risk management methods. He notes in particular how a government's risk management decisions differ from those of a business organization because of the unique characteristics of government entities: perpetual existence; taxing power; the need to prevent nepotism, bribery, and corruption in government administration; and political mandates and pressures of all kinds. These forces account for restrictive procurement rules and for various forms of “self-insurance” arrangements. The author finds, among other things, that in most states the rules have not kept pace with the multiplication of risks and the development of new risk management and insurance techniques, and that small and medium municipalities, especially, suffer from inadequate access to sound risk management services. On the basis of an examination of European municipal risk management practices, the author then suggests as an appropriate solution the formation of special mutual insurance organizations for municipal governments, controlled and administered by local government officials.

scholarly journals The (De-)Contextualization of Geographical Knowledge in Forest Fire Risk Management in Chile as a Challenge for Governance

2020 ◽  
pp. 161-191
Author(s):  
Michael Handke
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Fire Risk ◽  
Economic Losses ◽  
Risk Governance ◽  
Geographical Knowledge ◽  
Collective Risk ◽  
Forest Regions ◽  
Essential Knowledge ◽  
High Degree

AbstractChilean society is confronted with increasing risk from wildfires. Individual rather than collective risk management solutions predominate. Large forest companies, for example, reduce the probability of wildfires affecting their tree plantations with hierarchically-ordered management routines. Additionally, they purchase insurance policies to protect themselves from economic losses. Other stakeholders in the Chilean forest regions, however, do not have the same access to these forms of risk management due to the high degree of technical knowledge and organizational competences required. In his contribution, Michael Handke assesses the strengths and weaknesses of interacting hierarchical and market forms of risk management and calls for a deeper geographical approach to risk governance. He reveals that detailed geographical knowledge of wildfires is explicitly decontextualized and even ignored in current risk management practices. As a result, essential knowledge about the causes and effects of arson, which seem to be on the rise in Chile, is lost.

scholarly journals Risk management practices in the top 20 South Africa’s listed companies: An annual/ integrated report disclosure analysis

2015 ◽  
Vol 12 (4) ◽  
pp. 928-935 ◽  
Author(s):  
Tankiso Moloi
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Literature Review ◽  
Management Practices ◽  
Listed Companies ◽  
Decision Makers ◽  
Strategic Decision ◽  
Actual Risk ◽  
Management Disclosures ◽  
Good Risk

The King III Report on Corporate Governance places risk management at the nerve centre of the company’s strategic decision makers. The main objective of this article was to assess the risk management disclosures in the annual (integrated) reports of the top twenty (20) listed companies. The objectives were obtained through a literature review on risk management developments as per the requirements of the King III report on Corporate Governance, and supported by empirical evidence obtained from assessing the 2013 annual/ integrated reports of these top listed companies. The results obtained indicate that the majority of the JSE’s top 20 listed companies adhere to good risk management disclosure practices. However, there are areas in which the non-disclosure of information was prevalent. These areas of non-disclosure were found to be lacking detail on actual risk management practises applied. It was observed that the company accomplishments in these areas could be enhanced.

The Impact of Shariah Governance and Corporate Governance on the Risk Management Practices: Evidence from Local and Foreign Islamic Banks in Malaysia

2018 ◽  
Vol 15 (2) ◽  
pp. 1-20
Author(s):  
Sabri Embi ◽  
Zurina Shafii
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Principal Component ◽  
T Test ◽  
The Body ◽  
Primary Data ◽  
Islamic Banks ◽  
Shariah Governance ◽  
The Impact

The purpose of this study is to examine the impact of Shariah governance and corporate governance (CG) on the risk management practices (RMPs) of local Islamic banks and foreign Islamic banks operating in Malaysia. The Shariah governance comprises the Shariah review (SR) and Shariah audit (SA) variables. The study also evaluates the level of RMPs, CG, SR, and SA between these two type of banks. With the aid of SPSS version 20, the items for RMPs, CG, SR, and SA were subjected to principal component analysis (PCA). From the PCA, one component or factor was extracted each for the CG, SR, and RMPs while another two factors were extracted for the SA. Primary data was collected using a self-administered survey questionnaire. The questionnaire covers four aspects ; CG, SR, SA, and RMPs. The data received from the 300 usable questionnaires were subjected to correlation and regression analyses as well as an independent t-test. The result of correlation analysis shows that all the four variables have large positive correlations with each other indicating a strong and significant relationship between them. From the regression analysis undertaken, CG, SR, and SA together explained 52.3 percent of the RMPs and CG emerged as the most influential variable that impacts the RMPs. The independent t-test carried out shows that there were significant differences in the CG and SA between the local and foreign Islamic banks. However, there were no significant differences between the two types of the bank in relation to SR and RMPs. The study has contributed to the body of knowledge and is beneficial to academicians, industry players, regulators, and other stakeholders.

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