scholarly journals Emotional Intelligence and Risk Leadership on the Effectiveness of ISO 31000 Implementation in Organisation

2021 ◽  
Vol 1 (5) ◽  
pp. 11-20
Author(s):  
Aldi Ardilo
Keyword(s):  
Risk Management ◽  
Emotional Intelligence ◽  
Decision Makers ◽  
Probability Sampling ◽  
Iso 31000 ◽  
Qualitative Descriptive ◽  
Risk Culture ◽  
Verification Strategy ◽  
Management Position

ISO 31000 indicates that risk management is a science in which competencies are embedded in the individuals. It also emphasises the importance of having proper leadership while demonstrating the commitment towards the risk management implementation. Humans are emotional creatures—we could sometimes be influenced by the force of feelings, rather than rational discussion. This paper describes the dynamics of emotional intelligence and risk leadership in implementing risk management. The research used a qualitative-descriptive design with the verification strategy of case study. It used a non-probability sampling to individuals in the top management position. The findings suggest that without a proper level of emotional intelligence, it is difficult for leaders to cultivate an effective risk culture. These findings may equip decision makers on the interrelationships between emotional intelligence, risk culture, and organisation’s risk management maturity.

scholarly journals Comparison of Indonesian Banking Regulation for Integrated Governance, Risk Management, Compliance with Its ISO Counterparts

2021 ◽  
Vol 1 (5) ◽  
pp. 84-96
Author(s):  
Nitha Pricillia
Keyword(s):  
Risk Management ◽  
Financial Services ◽  
Banking Industry ◽  
Banking Regulation ◽  
International Standards ◽  
Iso Standards ◽  
Banking Regulations ◽  
Iso 31000 ◽  
Governance Risk

The research is aiming at obtaining understanding and assurance whether the regulation of Indonesia Financial Services Authority (orOtoritas Jasa Keuangan/OJK) for banking industry on Governance, Risk Management, and Compliance (GRC) in Indonesia are compatible with the requirements and suggested practices of ISO 37000/DIS on Governance, ISO 31000:2018 Risk Management, and ISO 37301: Compliance Management as international standards for Governance, Risk, and Compliance (GRC). The regulatory requirements as set forth by Indonesian FSA to banking industry for integrated GRC have all been compatible with all the elements of ISO 37000, ISO 31000:2018, and ISO 37301. This study utilizes a comparative study method, which is conducted by assessing the similarities and differences between two standards or regulations, or in this study, between Indonesia Financial Services Authority Regulation, or Peraturan Otoritas Jasa Keuangan (POJK) on Governance, Risk Management and Compliance (GRC), with their ISO Standards counterparts. The result is expected to show the degree of fitness of Indonesian banking regulations with these ISO standards. There is only a very small number of studies have been done in the light of calibrating the Indonesian banking regulation in Governance, Risk Management and Compliance (GRC) with their ISO counterparts. Therefore, the result of this paper could be used as generic inputs and considerations for banks which have initiated their integrated GRC practices, and/or just recently commenced, and/or improving their practices more effectively. Whereas the study provides general understanding and assurance of the compatibility, it is not supported yet by empirical evidence of how banks practically exercise the implementation of integrated GRC based on ISO 37000, ISO 31000, and ISO 37301 and how do they conduct calibration efforts to its efficacy. Therefore, it is recommended to conduct such empirical case study in several banks in Indonesia as further study. Further, a field study such as interviews and surveys with Indonesian banking professionals could also be performed to provide additional perspectives on how integrated GRC is implemented in Indonesian banking.

scholarly journals ISO 31000-Based Risk Management and Balanced Scorecard to Improve Company Performance: A Case Study at Indonsian YNK Tour and Travel Company

2021 ◽  
Vol 8 (3) ◽  
pp. 376
Author(s):  
Sandra Galuh Asmarawati ◽  
Perminas Pangeran
Keyword(s):  
Risk Management ◽  
Balanced Scorecard ◽  
Financial Risk ◽  
Management Plan ◽  
Company Performance ◽  
Improve Performance ◽  
Management Options ◽  
The Balanced Scorecard ◽  
Iso 31000

This research aims to conduct risk management assessments based on ISO 31000: 2018 and Balanced Scorecard (BSC) to improve performance at YNK Tour and Travel Company in Indonesia. Data obtained through filling out questionnaires and interviews with the company's director. The identified tourism risks consist of 5 types of risk, including: financial risk, operational risk, environmental risk, competitive risk and economic risk. The result of this research is to produce a risk management design based on ISO 31000. This standard is effective for identifying, analyzing, evaluating, and handling risks assisted by the Balanced Scorecard as a guideline to reach company’s goals. If the companies combine both of the standards, it can improve not only company’s performance but also company’s objective can be achieved. Based on the risk management plan, it is expected to assist the company in coping and dealing with it by determining the best risk management options according to the company's capabilities so that it can improve company performance.

The Politics of Risk: Trials and Tribulations of the Taurus Project

1996 ◽  
Vol 11 (4) ◽  
pp. 347-357 ◽  
Author(s):  
Helga Drummond
Keyword(s):  
Risk Management ◽  
Project Management ◽  
Risk Analysis ◽  
Balance Of Power ◽  
Decision Makers ◽  
Illusion Of Control ◽  
Complex Projects ◽  
Risk Acceptance ◽  
The Relationship

The term ‘risk management’ implies that risk is something which can be quantified, predicted and controlled. This paper seeks to demonstrate the limits of this assumption where complex projects are involved. The argument is based upon a case study of a failed £80 million IT venture known as Taurus. Analysis focuses upon the relationship between politics and the assumption of risk. Acceptance of risk, it is argued, is ultimately determined by the balance of power between decision makers. Moreover, risk analysis and other techniques of management may actually compound the difficulties by fostering an illusion of control and escalation. The implications for project management are discussed.

scholarly journals How to evaluate supply chain risks, including sustainable aspects? A case study from the German industry

2021 ◽  
Vol 14 (2) ◽  
pp. 120
Author(s):  
Rubén Medina-Serrano ◽  
Reyes González-Ramírez ◽  
Jose Gasco-Gasco ◽  
Juan Llopis-Taverner
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Identification ◽  
German Industry ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Risk Management Process ◽  
Iso 31000 ◽  
Supply Chain Risks

Purpose: Outsourcing transactions have been arisen and evolved in the last years and purchase managers want to know if a Failure Mode Effects and Analysis (FMEA) is an effective qualitative technique to analyze supply chain risks (SCR) in a proper way. The aim of this study is to address this question developing a practicable risk management process based on the guidelines of the ISO 31000 for upstream Supply Chain Risk Management (SCRM) linking risk assessment, risk identification, risk analysis, risk evaluation, risk treatment and validate the process empirically through a case study.Design/methodology/approach: After a review of the literature on Sustainable Supply Chain Risk Management (SSCRM), a case study based on a leading manufacturer of electrical products, collects evidences of SSCRM implementation.Findings: Supply chain disruptions are one of the most critical issues which can negatively influence on firm’s performance. Avoiding and mitigating disruptions in the supply chain is one of the main challenges for supply chain managers.Originality/value: This paper identifies the ISO 31000, the ISO 9001 and the use of an FMEA to analyze supply chain risks in a structured manner and to outline future research opportunities in the field of SCRM.

scholarly journals Case Study of Engineering Risk in Automotive Industry

2018 ◽  
Vol 26 (1) ◽  
pp. 27-30
Author(s):  
Dan Mihai Popa
Keyword(s):  
Risk Management ◽  
Automotive Industry ◽  
Multinational Companies ◽  
Primary Objective ◽  
Business Units ◽  
Iso 31000 ◽  
Set Up ◽  
Quality Process

Abstract The primary objective of this paper is to show where the engineering of risk management is placed and how its implementation has been tried in multinational companies in automotive industry from Romania. A large number of companies don’t use a strategy to avoid the engineering risk in their design products. The main reason is not because these companies haven’t heard about standards for risk management such as ISO 31000; the problem is that the business units which were summed up, have just set up a risk list at the beginning of the project, without any follow up. The purpose of this article is to create an implementation risk tracking in automotive industry companies in Romania, due to a change request from customers according to supply companies within the quality process, in the research and development phase.

scholarly journals Risk management methodology in the supply chain: a case study applied

2021 ◽  
Author(s):  
M. J. Hermoso-Orzáez ◽  
J. Garzón-Moreno
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Practical Case ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Management Procedure ◽  
Iso 31000 ◽  
Risk Management Methodology ◽  
The City

AbstractThis work provides a general risk management procedure applied to synchronized supply chains. After conducting a literature review and taking the international standard ISO 28000 and ISO 31000 as a reference. The most important steps that enable organizations to carry out supply chain risk management are described. Steps such as defining the context, identifying and analyzing risks or avoiding them, controlling them and mitigating them are some of the main points of this work. On the other hand, we carried out a practical case in which the execution of this procedure is carried out in a real supply chain located in the city of Jaén. In this specific case study, the most important risks and those that require early treatment will be discussed. In addition, a series of suggestions and ideas will be established, by way of conclusions, that allow said organization to improve the results that we have obtained in risk management.

Strategies for Survival of the World — Risk Management

2019 ◽  
Vol 10 (4) ◽  
Author(s):  
Jovo Lojanica ◽  
Keyword(s):  
Risk Management ◽  
Native Americans ◽  
National Level ◽  
Country Level ◽  
Management Standards ◽  
Family Level ◽  
Future Challenges ◽  
Iso 31000 ◽  
History Of ◽  
Personal Level

All management standards have requirements for different aspects of improvements on the personal level, family level, company level, in business and life. What is about national level and country level? Is it possible for today’s generations to learn history of nations and of civilizations? If it is — ok, let’s apply it on actual time and people to have less problems and difficulties — especially if is actual in field of risk management. Majority of people are occupied by today’s problems. They don’t consider past and future challenges. People from each country strive for better quality, better and cleaner environment, higher safety etc. historically and today. But could we remember: How did Genghis Khan conquer many regions and how was he defeated? How did Mayas and Aztecs die out? How were Native Americans in North America drastically reduced in numbers? How did the Roman Imperium vanish? How was the Ottoman Imperium established and how it vanished? How many people were killed in the wars in XX century, etc? In all these catastrophic changes risks were not considered in an adequate way. Requirements of risk management — Principles and guidelines — ISO 31000:2009 are very consultative. They could be used on country level, national level, regional level, continental and intercontinental level.

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