scholarly journals Assessing the risks and their sources in dependence on the rate of implementing the risk management process in the SMEs

Equilibrium ◽  
2018 ◽  
Vol 13 (3) ◽  
pp. 543-567 ◽  
Author(s):  
Mária Hudáková ◽  
Ján Dvorský
Keyword(s):  
Risk Management ◽  
Value Added ◽  
Assessment Process ◽  
Basic Material ◽  
Management Process ◽  
Effective Implementation ◽  
Market Economic ◽  
Risk Management Process ◽  
Risk Sources ◽  
Chi Squared

Research background: The managers have a key position in process of management risk. The managers are able to implement the risk management process in the companies with an emphasis on preventing the company crises using the appropriate methods and tools for the early identification of the changes if the entrepreneurial environment develops negatively. Does a manager have enough knowledge and awareness about the potential risk sources in company? Purpose of the article: The essence of this article is to assess the sources of the market, economic, financial, operational, HR, security and legal risk depending on the rate of implementing the risk management process in the small and medium-sized enterprises (SMEs). Methods: We realized the risk assessment process on the basis of evaluations by 487 man-agers who gave their opinions to selected risks and their sources in the SMEs in Slovakia. Subsequently, we utilized the methods and tools of the mathematical statistics (descriptive statistics, comparison, Z-score for 2 population proportions, Chi-squared test for 5 x 2 contingency table). Findings & Value added: The strongest dependence perceived by the SME-entrepreneurs lies between the development of the tax and insurance burdens as the source of the economic risk and the criterion of the “level of the risk management in the company”. The overall results of the empirical research underline the significance and importance of dealing with the assessment of the key risks and their sources in the Slovak SMEs. The results having been processed are the basic material for the professional public and other organizations whose effort is to help the companies in an effective implementation of the risk management process in the Slovak enterprises.

scholarly journals Identification and analysis of risks with major involvement in the staff activity of tourist pension

2021 ◽  
Vol 95 ◽  
pp. 01014
Author(s):  
Maria Georgiana Mocanu ◽  
Dorina Mocuta
Keyword(s):  
Risk Management ◽  
Human Resources ◽  
Efficient Method ◽  
Human Factor ◽  
Value Added ◽  
Management Process ◽  
Healthy Development ◽  
Risk Management Process ◽  
Short Time

The human factor is the indispensable resource of tourist pensions due to which the activity of this sector is achievable, but inadequate training leads to many risks for all parties involved, namely employees, employer, but also consumers, suppliers and other parties.For a healthy development, the society must go through all the established stages so that the frequency of the risks that may appear to be reduced to almost nullity. Particular importance must be given in the risk management process so that they are identified and controlled in a relatively short time so as not to face undesirable results. Research background: At the level of tourist pensions, we face a series of risks that must be identified in due time. Purpose of the article: Identify the main risks that may occur. Methods: The identification of risks is made on the basis of a very well established analysis by persons accredited in this field. Findings & Value added: In order to establish the risks that may arise, it is desired to determine a very efficient method that can be applied at the level of society and which aims at the human resources part and their preparation.

Flood warning in a Swedish local risk management context

2015 ◽  
Vol 24 (3) ◽  
pp. 383-396 ◽  
Author(s):  
Erik Stig Persson ◽  
Lars Nyberg ◽  
Inge Svedung
Keyword(s):  
Risk Management ◽  
Value Added ◽  
Well Being ◽  
Early Warning Systems ◽  
Added Value ◽  
Management Process ◽  
Content Type ◽  
Risk Management Process ◽  
Management Context ◽  
Local Risk

Purpose – The purpose of this paper is to explore how local early warning systems (EWSs) for floods are established at the municipality level in Sweden. The study also aims to analyse the role of EWSs in a risk management context. The overall purpose of this study is to elucidate how and to what extent the adoption of local EWSs can generate value-added benefits throughout the wider risk management process. Design/methodology/approach – Semi-structured interviews have been conducted with supervisors at each municipality in order to depict how local EWS are established at the municipality level in Sweden. The interviews went through a content analysis with respect to theory on EWS and theory on the risk management process. Findings – The possible effects from an EWS is not only reduced flood losses but also potential spinoff. The possibility of spinoff effects from the system, but also the mitigating effectiveness in case of a flood is largely dependent on the well-being of the organisation and its risk management processes. Originality/value – This study widens the understanding of the value of an EWS and that the organisational culture and state of risk management system has influence on the availability of such value. Identifying the potential added value from EWSs is important from a more general disaster risk reduction perspective, as it helps to further motivate implementation of proactive risk management measures. This knowledge can be of help to others who investigate the possibilities of investing in EWSs.

scholarly journals Risk Management Process on the Property Development of NUSA DUA Resort Bali Indonesia

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
I Wayan Muka ◽  
Agung Wibowo
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Investment Decisions ◽  
Development Projects ◽  
Management Process ◽  
Property Development ◽  
Inflation Risk ◽  
Risk Management Process ◽  
Financing Risk ◽  
Risk Sources

Abstract This research identifies risk sources, identifies risk factors, identifies the level of danger, identifies the level of vulnerability, identifies the level of capacity and determines risk priorities. Data collection was carried out through interviews and filling out questionnaires by resource persons involved in property development in the tourism area of Nusa Dua Resort ITDC Bali Province. The results showed that the risk factors that receive priority to be continuously mitigated and monitored are: interest rate and inflation risk, design risk, land maturation risk, and development financing risk. The level of risk in the development of the Nusa Dua Resort area is in the acceptable category so that it is feasible to build. The risk management process in this research can be applied to property development projects to help interested parties make investment decisions.

scholarly journals Use of the cost-benefit analysis method in the risk management process of SMEs

2021 ◽  
Vol 129 ◽  
pp. 03019
Author(s):  
Katarina Makka ◽  
Katarina Kampova
Keyword(s):  
Risk Management ◽  
Cost Benefit Analysis ◽  
Main Idea ◽  
Value Added ◽  
Cost Benefit ◽  
Management Process ◽  
Analysis Method ◽  
Benefit Analysis ◽  
Risk Management Process ◽  
The Cost

Research background: Property protection is a worldwide very often used term in the conditions of various sectors. It represents a set of measures that have a preventive effect on the risk of damage to the building. The issue of property protection does not only concern organizations, but also every person who is the owner of a property in which his important interests are located. The protection of buildings is a current topic on a global scale, mainly to ensure the proper functioning through the protection of all important tangible and intangible assets of company. Purpose of the article: The main idea of this article is to approach the issue and create a risk management process, focusing on dealing with risks in the conditions of a particular company, in this step we will use a cost-benefit analysis to help decide on the implementation or rejection of a project to protect the selected object. Methods: Before applying the method of cost-benefit analysis to a specific case of protection of the object of the selected company, it was necessary to characterize the selected company and find out which risks are unacceptable through the creation of a risk management process. The risk management process was created based on structured and unstructured interviews with the company’s employees. Findings & Value added: The proposed procedure for risk management and application of the method of cost-benefit analysis in the process of risk management are applicable in the conditions of any other organization in order to create an effective project for the protection of the object. If necessary, the procedure for using the cost-benefit analysis method can be adjusted to suit the needs and conditions of the problem of a particular organization.

Customisable framework for project risk management

2017 ◽  
Vol 17 (1) ◽  
pp. 68-89 ◽  
Author(s):  
Jennifer Firmenich
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
New Institutional Economics ◽  
Future Research ◽  
Project Risk Management ◽  
Management Process ◽  
Project Risk ◽  
Content Type ◽  
Risk Management Process ◽  
Management Concepts

Purpose The purpose of this paper is to emphasise on the need for efficient and effective project risk management practices and to support project managers in increasing the cost certainty of projects by proposing a new framework for project risk management. Design/methodology/approach The author adopts a “constructivist” methodology, drawing on practices common in construction management sciences and new institutional economics. Findings The author presents a holistic and customisable project risk management framework that is grounded in both practice and academia. The framework is holistic because, amongst others, all steps of the typical risk management process are addressed. The framework is customisable, because it allows for alternative ways of implementing the project risk management steps depending on the project-specific circumstances. Research limitations/implications The framework does not address the potential unwillingness of the project players to set up a project risk management process, at all. The proposed framework has not yet been tested empirically. Future research will seek to validate the framework. Originality/value The framework is designed to account for the difficult circumstances of a complex construction project. It is intended to support decision makers in customising a practical yet comprehensive project risk management concept to the characteristics of the unique project. Although many other project risk management concepts are designed based on the assumption that actors are perfectly rational and informed, this framework’s design is based on the opposite assumption. The framework is dynamic and should adapt over time.

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