scholarly journals Risk Management in Waqf Institutions: A Preliminary Study

2019 ◽  
pp. 207-219
Author(s):  
Mohammad Mahyuddin Khalid ◽  
Mohd Ashrof Zaki Yaakob ◽  
Azri Bhari ◽  
Mohd Faiz Mohamed Yusof
Keyword(s):  
Risk Management ◽  
Best Practices ◽  
Management Practices ◽  
Good Governance ◽  
Capital Expenditure ◽  
Management Practice ◽  
Social Environments ◽  
Modern Management ◽  
Management Function ◽  
Preliminary Study

Modern management practice has put greater emphasize on the principles of accountability and transparency. Along with the revival of Islamic institutions, there are call by the stakeholder for management of waqf institutions to adopt modern management practice to improve their efficiency in managing waqf asset. As part of good governance and best practices of waqf institutions, management of risk is fundamental to the proper functioning of any institution including waqf to ensure the accountability of mutawalli (waqf manager) and transparency of the management. Studies on risk management practices on Islamic institution indicate that risk come across in many different ways; financial, personnel, program and capital expenditure decisions due to interactions with economic, political and social environments. However, the dissimilarity of management practices of waqf asset could be due to the absence of risk management function for waqf institutions. This paper aims at exploring the major themes that constitute the basis of the discussion on accountability in waqf institutions. In doing this, the theoretical underpinnings and the existing research relating to waqf investment and its risk management practice are examined.

An Investigation of Credit Risk Management Strategies of Private Commercial Banks of Bangladesh

2014 ◽  
Vol 2 (2) ◽  
pp. 77-87
Author(s):  
Abu Hanifa Md. Noman ◽  
Md. Amzad Hossain ◽  
Sajeda Pervin
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Commercial Banks ◽  
Management Practices ◽  
Management Practice ◽  
Management Strategies ◽  
Third Party ◽  
Primary Data ◽  
Credit Risk Management ◽  
Risk Management Strategies

Objective - The study aims to investigate credit risk management practices and credit risk management strategies of the local private commercial banks in Bangladesh. Methodology -The investigation is conducted based on primary data collected from a set of both closed end and open end questionnaire from 23 out of 39 local private commercial banks in Bangladesh. Descriptive statistics has been used in processing the data and interpreting the results. Findings - The results reveal that credit risk management practice of the sample banks is sound which is attributed to the appropriate implementation of Basel II and credit risk management guidelines the country's central bank. The findings further show that use of Credit risk grading is most popular and effective criteria for measuring the borrowing capacity of the borrowers. In order to control credit risk and preventing losses from credit exposure banks give more focus on collateralization, accurate loan pricing and third party guarantee. Loan is monitored properly and credit reminder is given to the client if principal and interest remain outstanding for three months. The study further reveals that lack of experienced and trained credit officers, lack of genuine market information and Lack of awareness regarding non-genuine borrower are the most important problems of current credit risk management practices in Bangladesh. Novelty - To the best of the knowledge of the authors the study is the first that investigates credit risk management strategies of private commercial banks, especially on Bangladesh. Type of Paper - Empirical Keyword : Bangladesh; Commercial Bank; Credit risk; Credit risk management; Credit risk management strategies.

scholarly journals BUSINESS RISK MANAGEMENT PRACTICES ADOPTED BY ENTREPRENEURS FOR BUSINESS SUCCESS IN DELTA STATE

2021 ◽  
pp. 1-7
Author(s):  
Samuel Ikelegbe ◽  
Romanus Udeh
Keyword(s):  
Risk Management ◽  
State Government ◽  
Management Practices ◽  
Management Practice ◽  
Business Management ◽  
Business Owners ◽  
Business Success ◽  
Business Risk ◽  
Level Of Significance ◽  
Structured Questionnaire

The study was a survey research; it focused on determining the extent entrepreneurs adopt risk management practices for business management practice in Delta State. The population of the study comprises of 860 business owners who are registered with the Ministry of Commerce and Industries in Delta State. The instrument for data collection was a structured questionnaire with 16 items. Data collected were analyzed using mean and Standard deviation. The null hypothesis was tested using ANOVA statistics at 0.05 level of significance. Findings from the investigation revealed that entrepreneurs in Delta State do not adopt business risk management practices in managing their businesses. It was recommended among others that the Delta State Government and Ministry of Commerce and Industries should sensitize business owners on business risk management practice to enhance business success.

scholarly journals The Requirement of Records Management Practices for Institutional Audits

2018 ◽  
Vol 7 (3.7) ◽  
pp. 228
Author(s):  
Nik Nurul Emyliana Nik Ramlee ◽  
Saiful Farik Mat Yatin ◽  
Mastura Md Zali ◽  
Nurul Aiqa Mohd Zain ◽  
Amzari Abu Bakar ◽  
...  
Keyword(s):  
Management Practices ◽  
Good Governance ◽  
White Collar Crime ◽  
Risk Mitigation ◽  
Management Practice ◽  
Records Management ◽  
Government Sector ◽  
The Government ◽  
Relationship Of ◽  
The Impact

Currently, the issues of corruption or white-collar crime rise in government sector and this issue raised during the audit checking. The organization itself do not take the initiative and follow the policy and standard assigned by the government when manage the records in their organization with the requirement of records management practices. This study also emphasizes the role of records management in conducting the risk mitigation in governance regarding the auditing process, the relationship of the records management and good governance and to analyse the general report of one organization in Malaysia which related with the audit department. With this study, hopefully the good governance and accountability could be achieved and the crime rate could be minimized as well as no litigation occur during the auditing process if the records management practices plays their roles. This study is to investigate the impact of the implementation of good records management practice in exercising good governance and to ease up the auditing process.  

scholarly journals Risk management focusing on the best practices of data security systems for healthcare

2021 ◽  
Vol 9 (1) ◽  
pp. 45-78
Author(s):  
Fábio Martins Dias ◽  
Mauro Luiz Martens ◽  
Sonia Francisca de Paula Monken ◽  
Luciano Ferreira da Silva ◽  
Ernesto Del Rosario Santibanez-Gonzalez
Keyword(s):  
Risk Management ◽  
Best Practices ◽  
Data Security ◽  
Management Practices ◽  
The United States ◽  
Healthcare Sector ◽  
Security Systems ◽  
Healthcare Data ◽  
Source Selection ◽  
Minimum Requirements

Objective of the study: Statistics shows a worrisome picture of challenges to be overcome by cybersecurity in the healthcare sector. Data evidence that the healthcare industry experiences four data breaches per week in the United States alone, making it the sector most often affected by digital security breaches. Thus, the current article aims to investigate risk management focusing on identifying requirements and best practices for healthcare data security systems.Methodology/approach: It is based on a systematic literature review. Studies on state-of-the-art data security systems were collected and interpreted through content analysis. Assertive keywords, source-selection criteria, interpretation of selected articles, and database analysis were used to form the investigated sample and to represent the broad applications of this study’s objective.Originality/Relevance: The current study contributes to define a set of minimum requirements and best practices that can be adopted to manage data security risks in the healthcare sector and medical devices.Main results: Results have pointed out that there is no fully effective way to prevent all violations by cybercriminals; however, cybersecurity must be part of management processes adopted by different organizations.Theoretical/methodological contributions: It is found that cybersecurity has a great importance for the healthcare sector, the information generated is rich in content and that cybersecurity is neglected in the sector, that is not able to deal with the reality of cyber threats in the industry 4.0 context.Social /management contributions: By the good risk management practices and the adoption of minimum security items, institutions can ensure that managers can prepare and respond efficiently to cyber risks.

scholarly journals Economic Decision-Making and Risk Management

2021 ◽  
Vol 10 (4) ◽  
pp. 1-25
Author(s):  
Brian J. Galli
Keyword(s):  
Risk Management ◽  
Best Practices ◽  
Management Practices ◽  
Financial Sector ◽  
The United States ◽  
Regulatory Agencies ◽  
National Corporation ◽  
Economic Decision Making ◽  
Recent Financial Crisis

Because of the recent financial crisis in the United States that shook the financial sector, the need for adopting effective Risk Management practices has increased. Essentially, the volatility of the sector calls for an augmented re-evaluation of the framework, as well as the components of uncertainty management practices by commercial banks, regulatory agencies, and scholars. By doing so, the stakeholders in the financial sector would ensure the conformity to the best practices. To further fortify this, the research herein uses the Ames National Corporation (ANC), which is a commercial Bank in Iowa, USA, as a case study. The institution risk profile and risk management practices are evaluated to give insights on conforming to the best international practices. The research also seeks to establish whether effective risk management results in enhanced performance and profitability for financial institutions.Stating areas on which further research should be conducted is how the study is concluded.

scholarly journals Biobanking and risk assessment: a comprehensive typology of risks for an adaptive risk governance

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Kaya Akyüz ◽  
Gauthier Chassang ◽  
Melanie Goisauf ◽  
Łukasz Kozera ◽  
Signe Mezinska ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Management Practices ◽  
Good Governance ◽  
Daily Practice ◽  
Risk Governance ◽  
Institutional Research ◽  
Conceptual Approach ◽  
Related Data ◽  
Institutional Actors

AbstractBiobanks act as the custodians for the access to and  responsible use of human biological samples and related data that have been generously donated by individuals to serve the public interest and scientific advances in the health research realm. Risk assessment has become a daily practice for biobanks and has been discussed from different perspectives. This paper aims to provide a literature review on risk assessment in order to put together a comprehensive typology of diverse risks biobanks could potentially face. Methodologically set as a typology, the conceptual approach used in this paper is based on the interdisciplinary analysis of scientific literature, the relevant ethical and legal instruments and practices in biobanking to identify how risks are assessed, considered and mitigated. Through an interdisciplinary mapping exercise, we have produced a typology of potential risks in biobanking, taking into consideration the perspectives of different stakeholders, such as institutional actors and publics, including participants and representative organizations. With this approach, we have identified the following risk types: economic, infrastructural, institutional, research community risks and participant’s risks. The paper concludes by highlighting the necessity of an adaptive risk governance as an integral part of good governance in biobanking. In this regard, it contributes to sustainability in biobanking by assisting in the design of relevant risk management practices, where they are not already in place or require an update. The typology is intended to be useful from the early stages of establishing such a complex and multileveled biomedical infrastructure as well as to provide a catalogue of risks for improving the risk management practices already in place.

scholarly journals The Influence of Risk Management on Construction Project Performance: A Case Study.

2018 ◽  
pp. 936-942
Author(s):  
Mazurina Mohd Ali ◽  
Sakinah Zahra Norman ◽  
Erlane K. Ghani ◽  
Noor Hasniza Haron
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Management Practices ◽  
Management Practice ◽  
Methodological Approach ◽  
Construction Project ◽  
Project Performance ◽  
Time Cost ◽  
Schedule Delay

Risk Management is recognized as an important exercise that creates value to a project and improves project performance. Time, cost and quality are the primary measures of a project performance in this industry. The success or failure in any construction project can be monitored through the attainment of these primary measures. Notably, Malaysian construction industry is considered as one of the important industries that positively contribute to the increase of Gross Domestic Product and subsequently the growth of the country’s economic development. Unfortunately, this industry suffers poor performance in which it leads to failure in accomplishing effective time, cost and quality performance. Most construction projects face a schedule delay, cost overrun and are poor in product quality. Thus, the aim of this study is to determine the influence of risk management on construction project performance of Malaysian companies based on these three primary measures. The degree of diffusion of risk management practice in the chosen construction project in Malaysia is also examined. The methodological approach exploited in this study is a case study approach involving analysis of documented data and face-to-face interviews with key players that hold different roles and responsibilities. They include a director, project managers, finance managers, contract managers and quantity surveyor managers. The results demonstrate that adopting effective risk management practices positively impacts project performance thus leading to project success. Nevertheless, the lack of knowledge and poor communication of risk management practices in construction projects contribute to the weak implementation of an effective and systematic risk management practices in Malaysia.

Management of Local Authority Records at Zvishavane Town Council

2021 ◽  
pp. 293-309
Author(s):  
Alex Sibanda ◽  
Edward Mupfururi
Keyword(s):  
Best Practice ◽  
Management Practices ◽  
Ad Hoc ◽  
Local Authority ◽  
Good Governance ◽  
Management Practice ◽  
Records Management ◽  
Design Data ◽  
Town Council ◽  
Midlands Province

This study evaluated records management practices at a local authority in Zimbabwe, with reference to Zvishavane Town Council in the South Midlands province of Zimbabwe. The purpose of the study was to establish the records management practice to expose the bedevil and recommend the best practice. To achieve the purpose of the study, qualitative research methodology was used through a case study design. Data was collected using interviews, document analysis, and direct observations. The findings of the study revealed that Zvishavane Town Council was practicing records management without a standard written down policy of records management. This led to an ad hoc system of practice in terms of good governance, accountability, and transparency in managing council records. The study recommends that records management at this council be done using a well-documented records management policy.

scholarly journals The risks of using REDD+ to manage rich socio-ecological systems

2013 ◽  
pp. 1-11 ◽  
Author(s):  
Paul Vincent Martin
Keyword(s):  
Risk Management ◽  
Good Governance ◽  
Management Practice ◽  
Policy Instruments ◽  
Policy Goals ◽  
The Social ◽  
Brand Competitiveness ◽  
Good Management Practice ◽  
Policy Risk ◽  
The Many

REDD+ is an important development in environmental and social justice policy instruments. However, its success depends on a network of complex contingencies, and the achievement of difficult governance transformations in countries that are under severe economic pressure. It ought be obvious that there are significant risks associated with this endeavour, but overt risk management, using standard approaches, is not evident. This paper highlights some of the many risks that the governance of REDD+ (in common with most environmental policy innovations) needs to pay attention to in order to avoid policy failure. There are eight distinct elements that have to work for the REDD+ program to achieve its public policy goals, and each of these carries its own risk. These are: securitisation of carbon sequestration; protection for complex non-carbon values, ensuring the integrity of the supply of credit; multi-level administration and aggregation of tradeable carbon interests; managing the social and economic imbalance of interests; deploying new methods for measurement and securitisation of interests; ensuring a platform of rules, administrative and enforcement systems, teams and intelligence networks; and achieving price and ‘brand’ competitiveness in a crowded carbon offsets marketplace. Although the issues listed in this paper are not comprehensive, they highlight major concerns and support the argument that a comprehensive and systematic approach to policy risk is likely to add value to the REDD+ implementation. The paper suggests that good management practice would separate risk management from policy or instrument development, and embed this aspect of good governance with a sufficient level of authority to ensure that the negative potentials are managed with a degree of vigour consistent with the importance of the issues.

scholarly journals Exploring the Relationship between Risk Management and Business Strategies in the Sports Goods Industry in the City of Sialkot in Pakistan

2021 ◽  
Vol 8 (4) ◽  
pp. 184-199
Author(s):  
Shah Khalid
Keyword(s):  
Risk Management ◽  
Financial Risk ◽  
Management Practices ◽  
Management Practice ◽  
Business Strategies ◽  
Structured Interviews ◽  
Competitive Situation ◽  
Reputational Risk ◽  
The City ◽  
Sports Goods

The purpose of this study is to explore the current state of risk management practice and the influences on it, particularly concerning competitive positioning, in the sports goods industry in the city of Sialkot, Pakistan. This study is based on the analysis of twenty semi-structured interviews. It was conducted with the owners and other key decision makers of sports goods SMEs in Sialkot. The findings indicate that the main obstacle faced in improving risk management practices relates to underestimation of their link to competitive strategising while determining the long-term strategic options. The value of this study lies in its potential to highlight the competitive situation of Pakistani SMEs within the sports goods industry in the face of increasing competition on the international scale. This study identifies the mutual impact of various types of risks, such as financial risk, reputational risk, strategic risk and price fluctuation risk, on adoption of a particular competitive strategy by SMEs. Altogether, it raises SMEs’ awareness of various business scenarios which would allow them to recognise risks earlier and improve their competitive standing.

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