scholarly journals RISK APPETITE ASSESSMENT FRAMEWORK

2020 ◽  
pp. 35-46
Author(s):  
Iryna Fedulova ◽  
Nataliia Skopenko
Keyword(s):  
Maximum Level ◽  
Risk Tolerance ◽  
Qualitative Assessment ◽  
Managerial Decision ◽  
Advantages And Disadvantages ◽  
Business Goals ◽  
Qualitative Approaches ◽  
First Case ◽  
Risk Appetite ◽  
Risk Event

he adoption of any managerial decision within the company happens in the presence of risks. Against this background, it is vital to determine whether the risk is acceptable for achieving the objectives. In the article the essence of risk appetite, risk tolerance and risk capacity is considered. Differences between risk capacity, risk appetite and risk tolerance are defined. Risk appetite reflects the level of losses that the company is willing to accept in order to achieve its strategic objectives. In contrast, risk tolerance is related to the acceptance of the outcomes of specific identified risk events and is defined as readiness for certain risk event. Risk capacity is the maximum level of risk that an organization is able to accept for achieving its business goals, taking into account the current level of resources, its capital structure and access to markets. An important part of identifying the risk appetite for the company is a description of advantages and disadvantages of existing methods of its assessment. Quantitative and qualitative approaches to determining risk appetite are considered. In the first case, the absolute value of possible risk or its relative value is established. In this case, the risk appetite is determined depending on organizational objectives. These objectives may determine the achievement of the planned financial indicators, compliance with financial regulations and other indicators of the company. Qualitative assessment of risk appetite is used when the risk cannot be quantified. In this case, the risk appetite is presented in a descriptive way. It is important to define the risk appetite including all aspects of the enterprise activity in the context of certain strategic goals of its development. Breaching the risk tolerance threshold should serve as a red alert for management. In such a case, it is important to reduce the risk position.

scholarly journals The Model of Organizing of the Compliance Control System at the Enterprise as the Instrument for Improving its Security

2021 ◽  
Vol 3 (518) ◽  
pp. 201-206
Author(s):  
S. M. Tiutchenko ◽  
Keyword(s):  
Risk Management ◽  
Control System ◽  
Maximum Level ◽  
Economic Security ◽  
Risk Tolerance ◽  
Residual Risk ◽  
Compliance Control ◽  
Risk Zone ◽  
Risk Appetite ◽  
Process System

The article substantiates the relevance of the introduction of a new risk management model at enterprises – a compliance control system, the peculiarity of which is that risk management becomes comprehensive and coordinated within the whole company. The article is aimed at developing and substantiating the model of organization of the compliance control system at the enterprise, which is based on the division of risk zones. Methodological scientific approaches to definition of concept and functions of compliance control according to the functional, process, system and effective approaches are analyzed. The model of organization of the compliance control system at the enterprise is proposed, which, unlike existing ones, is based on a clear division of the acceptable risk zone (the maximum level of residual risk that an enterprise can take on without a threat to its existence), which includes risk appetite and risk tolerance (an additional amount of residual risk that the company is ready to take if measures are taken to minimize risk), and an unacceptable risk zone that begins with exceeding the compliance price over compliance losses. In order to make decisions on mitigation of risks at the enterprise, it is proposed a methodology for the formation and implementation of a compliance control system. The developed strategies for each stage of compliance control implementation are effective and can be used at any enterprise in order to reduce risks and increase economic security.

The Measurement of Inter-Personal Violence: A Review

1977 ◽  
Vol 17 (4) ◽  
pp. 273-278 ◽  
Author(s):  
Elizabeth Parker
Keyword(s):  
Interpersonal Violence ◽  
Qualitative Assessment ◽  
Advantages And Disadvantages ◽  
Personal Violence

The qualitative assessment of violence is discussed and four scales which have been used to measure interpersonal violence are described. These scales are then compared with regard to how far they take into account the intent of the aggressor, the circumstances of the offence and the degree of injury inflicted and the advantages and disadvantages of these various criteria of violence are appraised.

SWOT-ANALYSIS OF OUTSOURCING OF ACCOUNTING SERVICES

2021 ◽  
Vol 296 (4) ◽  
pp. 95-99
Author(s):  
ILONA ADASIUK ◽  
◽  
OKSANA MARTYNIUK ◽  
Keyword(s):  
Strategic Management ◽  
Swot Analysis ◽  
External Environment ◽  
External Factors ◽  
Analysis Model ◽  
Advantages And Disadvantages ◽  
Business Goals ◽  
Potential Risks

The article based on SWOT-analysis of outsourcing of accounting services. Accounting services can be improved if you can work on your strengths, as well as correct the weaknesses of the company or area where you lose points. SWOT-analysis is considered as a tool of strategic management to determine the feasibility of using accounting outsourcing as a way to optimize the enterprise. SWOT consists mainly of two main parts: strengths and weaknesses, which will indicate the internal aspect, and threats and opportunities related to external factors for the company (but those that are present in the environment). In essence, we test the effectiveness of the accounting services provided by the contractors that your business provides against this background. With this analysis, the firm can understand the problems, ie where they lack work and why, because these are periods during the year when work becomes fragile. Why this happens is best analyzed because of it. A set of business goals are things that outsourcing companies need to invest because simple marketing is not enough. The analysis of advantages and disadvantages of accounting outsourcing is carried out and the necessity of SWOT-analysis of potential risks and advantages of using perspectives of accounting outsourcing is emphasized. The internal and external environment was analyzed using an extended SWOT analysis model from the standpoint of strengths and weaknesses, opportunities and expected threats. Based on the results of the SWOT-analysis, a matrix has been formed that will allow predicting threats and potential opportunities at the stage of planning the use or refusal to use accounting outsourcing services.

scholarly journals Creativity as a Methodological dimension of Social Research between Quantity and Quality

2019 ◽  
Vol 9 (1) ◽  
pp. e049
Author(s):  
Francesco Sacchetti
Keyword(s):  
Social Research ◽  
Quantitative Approach ◽  
Creative Processes ◽  
Methodological Choices ◽  
Personal Involvement ◽  
Qualitative Approaches ◽  
First Case ◽  
Qualitative Work ◽  
The Creation ◽  
A Performance

In this work I address creativity in the process of social sciences research, comparing quantitative and qualitative approaches. In discussing creativity I go back to Chomsky and his distinction between rule-governed and rule-changing creativity. In my analysis I suggest that the quantitative approach is characterized by rule-governed creativity, the qualitative one by rule-changing creativity: these are two models of creativity that the Chomskian vision links to a set of rules. Thus in the first case the creation of the tools by which the researcher collects information is submitted to a set of rules related to substantial and procedural competences. In the second case the creative phase does not have a place in the creation of a tool, but rather in a performance. The idea of performance as a constitutive part in qualitative research is analysed on a substantial basis, revealing the implications of distinct creative processes under different methodological choices. Whilst a quantitative approach requires using procedural and substantial competences, I suggest that in a qualitative enquiry the researcher’s fieldwork is considered as a ‘performance’ because of its adaptive character. The researcher is constantly confronted with unforeseen situations, surrounded by an unknown environment. Also, this use of the notion of ‘performance’ comprehends both elements of the process as well as of the outcome of fieldwork, as it recalls peculiar characteristics of qualitative work: action and interaction, personal involvement and, above all, orientation to a purpose (in this context, the teleological purpose of knowledge production).

scholarly journals Evaluation of the Level of Enterprise Risk Management Adoption and Maturity of Insurance Companies in Kenya

2017 ◽  
Vol 1 (2) ◽  
pp. 1
Author(s):  
Caroline Njagi ◽  
Dr. Amos Njuguna
Keyword(s):  
Risk Management ◽  
Risk Tolerance ◽  
Enterprise Risk Management ◽  
Strategic Decision ◽  
Insurance Companies ◽  
Top Management ◽  
Organizational Strategies ◽  
Risk Management Framework ◽  
Enterprise Risk ◽  
Risk Appetite

Purpose: The purpose of this study was to evaluate the extent to which insurance companies in Kenya have adopted ERM process, and then to assess the maturity, challenges and strategies in the implementation of this process.Materials and methods: The research design adopted for the study is descriptive research. The researcher conducted a survey on the 49 insurance companies of Kenya to encapsulate the factors that are relevant in articulating the extent of adoption of ERM and the level of maturity. A sample of 196 respondents was selected from a population of 245 respondents. The study used quantitative and qualitative methods of data analysis. Statistical Package for Social Sciences (SPSS) version 20 program was used for analysis. The results were presented using tables and pie charts. Similarly, qualitative data was summarized and categorized according to common themes and presentedin continuous prose form.Results: The study concluded that organizational related challenges hindered implementation of ERM programs. Results revealed that inadequate application of the risk management framework, ambiguity in roles and responsibilities in risk management, complexities in risk measurement, lack of embodiment of ERM in organizational culture, difficulty in risk quantification, linking risk information to strategic decision making, ensuring that all decisions remain within the organization’s risk tolerance, proactively identifying current and emerging risks, cost and budgetary constraints, misalignment of the risk and business operating models, risk management not seen as a priority by top management and inadequate information to make risk-based decisions hindered implementation of ERM frameworks among insurance firms in Kenya. The findings imply that organization related challenges have a significant effect on ERM implementation.Recommendations: The study recommends that there should be better organizational strategies to help improve implementation of ERM programs. It was found that building a strong risk culture, engaging consultants, building a dedicated ERM function, committed board of directors and top management, developing risk appetite statement, appointment of a Chief Risk Officer (CRO) and availing ERM budgets improved the implementation of ERM programs. Key words: enterprise risk management, adoption, maturity

Agen Based Modeling for Corn Supply Chain Risks Identification and Sales Negotiation in PTPN VIII

Jurnal METRIS ◽  
2020 ◽  
Vol 21 (01) ◽  
pp. 1-12
Author(s):  
Syarif Hidayat ◽  
Dyah Ayu Suliandar
Keyword(s):  
Fuzzy Reasoning ◽  
Negotiation Process ◽  
Corn Yield ◽  
Selling Price ◽  
Total Size ◽  
Agent Based ◽  
Business Goals ◽  
Risk Appetite ◽  
Owned Company ◽  
Supply Chain Risks

PTPN VIII is a state-owned company in West Java cultivating several kinds of commodities, and still have three marginal farmlands with a total size of 3000 hectares open for investment for corn. The type of corn that would be produced is corn feed for poultry needs. Three agents are involved in this agent-based model: the farmers (or cooperatives), PTPN VIII, and the buyers of the corn yields. All agents face risks in doing their businesses which hamper or reduce their probability of achieving their business goals. The potential risks are identified using fuzzy reasoning method. The three blocks of farmland have different levels of fertility. Farmers are expected to compete for the hunt of farmland to rent for cultivating corns, until their funds run out. They must prepare the land, procure their best corn seeds, plant and maintain the crops, and eventually harvest, dry and sell their corn yield. The dryness of the corn grains dictates the selling price. The buyers will buy the corns until their demands are fulfilled for the particular season. There will be a negotiation process between agents to reach an agreement. Each agent seeks to achieve its goal. This is why agent-based modelling is employed. Netlogo software is used to develop the model. Based on fuzzy reasoning method the obtained result shows that the most potential risk is quality risk. The negotiation results show that when both buyer and seller experience heightened degree of risk appetite, the shortest negotiations are achieved.

scholarly journals Deformation of cranioplasty titanium mesh in a paediatric patient following head trauma

2019 ◽  
Vol 12 (6) ◽  
pp. e230421
Author(s):  
Basel Sharaf ◽  
Malke Asaad ◽  
Joseph Banuelos ◽  
Jesse Meaike
Keyword(s):  
Paediatric Patient ◽  
Head Trauma ◽  
Titanium Mesh ◽  
Brain Protection ◽  
Contact Sports ◽  
Advantages And Disadvantages ◽  
First Case ◽  
Alloplastic Materials ◽  
Life Saving ◽  
Titanium Cranioplasty

Decompressive craniectomy is a life-saving procedure performed to treat intracranial hypertension caused by a variety of conditions. Subsequent cranioplasty reconstruction is needed for brain protection. Different alloplastic materials with different advantages and disadvantages are available for cranial reconstruction. We present the first case of a deformed titanium cranioplasty mesh in a paediatric patient following head trauma. Children who have undergone cranioplasty reconstruction should be counselled to wear a protective helmet when involved in contact sports or activities that may put their implant at risk of trauma.

Survey of residency program directors’ perceptions of nontraditional pharmacy residency applicants

2019 ◽  
Vol 76 (21) ◽  
pp. 1788-1793
Author(s):  
Amanda J Khalil ◽  
Krutika N Mediwala ◽  
Meera Mehta ◽  
Amy J Yanicak ◽  
Jared S Ham ◽  
...  
Keyword(s):  
Residency Program ◽  
Work Experience ◽  
Selection Process ◽  
Pharmacy Practice ◽  
Program Directors ◽  
Qualitative Assessment ◽  
Secondary Outcome ◽  
Residency Programs ◽  
Advantages And Disadvantages ◽  
Residency Program Directors

Abstract Purpose The attitudes and expectations of residency program directors (RPDs) regarding nontraditional residency applicants (NTAs) were evaluated. Methods This was a cross-sectional, survey-based study targeting RPDs of American Society of Health-System Pharmacists–accredited residency programs. A 14-question survey requesting information related to demographics, perceptions of NTAs compared with traditional applicants, advantages and disadvantages of NTAs, and advice for NTAs was administered electronically to RPDs. The primary outcome of this study was to determine RPDs’ perceptions of NTAs as suitable residency candidates. The secondary outcome evaluated the rate of NTA acceptance into residency programs and a qualitative assessment of RPDs’ advice for NTAs. Results Of the 1,414 RPDs contacted to participate, 328 (23%) completed the survey. RPDs were primarily affiliated with postgraduate year 1 pharmacy practice (52%) or postgraduate year 2 specialty residencies (30%), and 35% reported having an NTA in their program. Most respondents (87%) reported that NTAs are given equal consideration relative to traditional residency applicants. RPDs rated work experience as the most important quality of an NTA, followed closely by the ability to work with others and teachability. Most (277 [85%]) RPDs agreed that NTAs should possess experiences beyond work experience, such as research, leadership, and community service. The biggest concern regarding NTAs was significant time since graduation prior to application. Conclusion The majority of RPDs did not perceive NTAs differently from traditional applicants in the selection process of prospective candidates.

scholarly journals Randomness vs. fuzziness in managerial decision-making

2019 ◽  
Vol 61 ◽  
pp. 01002
Author(s):  
Simona Hašková
Keyword(s):  
Triangular Fuzzy Number ◽  
Decision Processes ◽  
Fuzzy Approach ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Project Valuation ◽  
First Case ◽  
Original Contribution ◽  
Standard Solution ◽  
Comparison Of The Results

Managers often deal with uncertainty of a different nature in their decision processes. They can encounter uncertainty in terms of randomness or fuzziness (i.e., mist, obscurity, inaccuracy or vagueness). In the first case (randomness), it can be described, for example, by probability distribution, in the second case (fuzziness) it cannot be characterized in such a way. The methodological part of the paper presents basic tools for dealing with the uncertainty of both of these types, which are techniques of probability theory and fuzzy approach technique. The original contribution of the theoretical part is the interpretation of these different techniques based on the existence of fundamental analogies between them. These techniques are then applied to the problem of the project valuation with its “internal” value. In the first case, the solution is the point value of the statistical E[PV], in the second case the triangular fuzzy number of the subjective E[PV]. The comparison of the results of both techniques shows that the fuzzy approach extends the standard outcome of a series useful information. This informative “superstructure” of the fuzzy approach compared to the standard solution is another original benefit of the paper.

Investment attitude of millennials towards cryptocurrencies

2020 ◽  
Author(s):  
Vibha Suhas Bhilawadikar ◽  
Ema Garg
Keyword(s):  
Financial Markets ◽  
Risk Level ◽  
Special Focus ◽  
Advantages And Disadvantages ◽  
Digital World ◽  
Risk Appetite ◽  
Short Period ◽  
Retail Investors ◽  
Positive Return ◽  
Interest Levels

PurposeThis study presents research on the awareness and aspirations of millennials towards different investment asset classes with a special focus on cryptocurrencies. Cryptocurrencies are technology dependent digital money systems which have created a buzz in the financial markets in a very short period of time. Digital currencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, etc., are considered as a new investment asset category that seems to be associated with high risk and return. There are a number of advantages and disadvantages associated with them, but countries, like Japan and the US, have accepted them for some types of transaction, however, India, one of the five largest emerging economies of 2018, has still not accepted them. In spite of government and regulatory inertia towards cryptocurrencies, we have found that awareness and aspiration to invest in this category among millennials is increasing. The objective of this paper is to understand the investment attitudes of millennial investors towards the desire to invest in cryptocurrencies given the disposition of this generation towards the digital world and technologies.Study designThis study is conducted in Mumbai to assess the interest levels in this category especially among the millennial generation. This is a primary research study and data has been collected via face-to-face interviews, and a structured questionnaire, with suitable open-ended questions, involving 100 millennial retail investors in Mumbai, and a random sampling method. The participants were aware of the risk level of the selected financial products. Descriptive statistics and advance analysis techniques, such as correlation, factor and multiple regression analysis, were used as tools to describe relationships in the investment category, to decipher the pattern of the decision-making process among millennials with respect to investment in different categories of financial products.FindingsThe underlying motivation for any financial investment is growth and appreciation of value at an expected rate of return. It is this motivation that needs to be managed by any financial planner, and this is the foundational finding of our research with respect to cryptocurrencies. This study provides information to regulators, recommending adoption of cryptocurrencies within a regulated structure in India.LimitationsThis study has been conducted in Mumbai only.ImplicationsThe fundamental objective of any investment is a positive return and that positive return has to be well managed by governments, regulators and financial marketers.ContributionThis study presents new evidence given the changes that have occurred recently in the financial markets and also highlights the variables that could be determining factors of risk appetite/tolerance for millennial retail investors. It clearly highlights that financial literacy and maturity of millennial investors will drive interest levels in a particular asset class. Prior knowledge about the level of diffusion and adoption of cryptocurrencies as a new asset among Indian millennials will help in creating a relevant policy framework. This will also help in creating a society-safety network among rising digital communities. This is a potentially transparent technological solution that can facilitate many financial solutions such as investments, remittances, and innovative ways to build financial inclusion in society.

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