scholarly journals 'Enterprise risk management' essential for survival and sustainable development of micro, small and medium enterprises

2016 ◽  
pp. 117-124 ◽  
Author(s):  
Reena Agrawal
Keyword(s):  
Sustainable Development ◽  
Risk Management ◽  
Small And Medium Enterprises ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
Medium Enterprises

scholarly journals Effects of Enterprise Risk Management (ERM) and Economic Issues on the Performance of Manufacturing Sector-SMEs in Malaysia – A Conceptual Framework

2019 ◽  
Vol 8 (12S2) ◽  
pp. 593-597
Keyword(s):  
Risk Management ◽  
Conceptual Framework ◽  
Organizational Performance ◽  
Small Businesses ◽  
Small And Medium Enterprises ◽  
Manufacturing Sector ◽  
Enterprise Risk Management ◽  
Economic Issues ◽  
Enterprise Risk ◽  
Medium Enterprises

This study aims to construct a conceptual framework that describes effect of Enterprise Risk Management (ERM) on the relationship among organizational performance and economic issues. The study intended to establish whether ERM adoption and economic issues influence the performance of Small and Medium Enterprises (SMEs) as focusing in manufacturing sector. However, as compared to large businesses, small businesses became one of the highest failure rates. ERM is a form of micro risk management and a full approach to identify risk in all purposeful areas. However, based on previous studies, the study to examine the practices in adopting ERM especially in SMEs and the performance of SMEs are still lacking. Hence, the area of this paper will be focus on SMEs manufacturing which are 380 registered SMEs that listed under SME Corp. Malaysia.

scholarly journals Operational Risk Assessment and Management in Small and Medium-sized Enterprises

2015 ◽  
Vol 16 (2) ◽  
pp. 140-148 ◽  
Author(s):  
Viktorija Stasytytė ◽  
Loreta Aleksienė
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Small And Medium Enterprises ◽  
Value Added ◽  
Operational Risk ◽  
Business Environment ◽  
Enterprise Risk ◽  
Uncertain Future ◽  
Medium Enterprises ◽  
Risk Assessment And Management

Modern organizations have raised a need to actively and quickly react to the changes in external business environment, as well as in internal processes considering not only the present situation, but also evaluating possible changes and forecasting the future. Enterprise risk assessment and management, which is strongly related with foreseeing the uncertain future, becomes topical not only scientifically, but also practically seeking to reveal new and unique solutions. Operational risk management in small and medium enterprises, creating the largest part of value added in the whole European Union, demands a separate attention and coordinated decisions and means. The objective of the paper – to analyse the process of enterprise risk management in small and medium-sized enterprises, as well as to propose adequate risk management solutions for these companies. After performing a research, it was found out that small and medium enterprises more than big organizations require a risk management strategy and methodology, need to distinguish activity objectives and events influencing them, and they can efficiently apply a risk portfolio method to manage risk. In small and medium enterprises it is recommended to incorporate a risk management system based on COSO ERM model that can be modified depending on company needs and possibilities, turning it into less formal and structured and easily applicable.

scholarly journals Enterprise Risk Management Best Practices for Improvement Financial Performance in Manufacturing SMEs in Cameroon

2017 ◽  
Vol 8 (3) ◽  
pp. 1004-1012
Author(s):  
Mbiki Mamai ◽  
Song Yinghua
Keyword(s):  
Best Practices ◽  
Financial Performance ◽  
Board Of Directors ◽  
Small And Medium Enterprises ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
The Board Of Directors ◽  
Risk Culture ◽  
Medium Enterprises ◽  
The Relationship

The aim of this study is to determine the relationship between the best practices and the financial performance among 86 manufacturing small and medium enterprises in Cameroon. To achieve this objective, we will carry out a Multivariate Analysis; and the results based on correlation analysis highlight a positive and significant impact of risk culture on financial performance of these enterprises and also show that the independence of the board of directors by itself is not sufficient to increase the firm’s performance.

scholarly journals METHODOLOGICAL ASPECTS TO THE FORMATION OF ESG ENTERPRISE STRATEGY

2021 ◽  
pp. 37-44
Author(s):  
Dmytro Baiura ◽  
Keyword(s):  
Sustainable Development ◽  
Risk Management ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Sustainable Development Goals ◽  
Enterprise Risk Management ◽  
Key Stakeholders ◽  
Enterprise Risk ◽  
Development Goals ◽  
Corporate Social

The formation of the ESG strategy of corporate-type enterprises depends on the adequate direction of development of corporate social responsibility chosen by enterprises. Global Sustainable Development Goals are the criteria for selecting the most important segments of companies' impact on environmental and social development. At the same time, an adequate system of corporate governance, including corporate controlling, is needed to implement both the strategy and key tasks. First, it is the integration into the organizational and managerial corporate structure of institutional support mechanisms. Second, it integrates the provisions of the ESG strategy into the overall corporate strategy. And of course, the integration of key provisions of the ESG strategy in the operational, investment and financial spheres of operation of enterprises, regardless of their economic activities and organizational and legal forms. The implementation of the provisions of the ESG strategy involves interaction with key stakeholders, or as it is considered stakeholders or groups influencing the company. It is important that each company clearly identifies them, identifies the strength of influence, key interests and features of social corporate communications with key stakeholders. In world practice, there are a number of methodological approaches, methods of identifying stakeholders and determining their impact on the company. The algorithm for developing the ESG strategy is practically no different from others and includes the following stages: diagnosing the state of the company in the field of sustainable development (social responsibility, corporate social responsibility); development of new provisions in the field of sustainable development; implementation of strategic plans for the implementation of sustainable development goals. During the implementation of the ESG strategy, special attention should be paid to corporate risk management. Currently, the most widespread in the world for enterprise risk management is the model COSO ERM (Enterprise Risk Management - enterprise risk management).

Effect of Enterprise Risk Management on Firm Value: Empirical Evidence from Non-Financial Firms in Pakistan

GIS Business ◽  
1970 ◽  
Vol 13 (2) ◽  
pp. 15-28
Author(s):  
Nouman Nasir
Keyword(s):  
Risk Management ◽  
Firm Value ◽  
Positive Impact ◽  
Stock Exchange ◽  
Enterprise Risk Management ◽  
Least Square ◽  
Return On Equity ◽  
Financial Firms ◽  
Enterprise Risk ◽  
Ordinary Least Square Regression

This research examines the effect of enterprise risk management on firm value in Pakistan. Further, this study empirically examines company characteristics that establish the execution of an enterprise risk management system. Using a sample of final dataset of 83 non-financial firms located in Pakistan. The sample included non-financial firms from the year 1999 to 2015 and so up to seventeen observation years per company. As in context of Pakistan, most of the organizations are already implement an ERM programs and establish specialized ERM departments because the ERM is now a global term and has become increasingly relevant because of the growing difficulty of risk and an additional development of regulatory frame works. For the empirical evidences, data collected from non-financial firms listed at the Pakistan Stock Exchange (PSX). Results of logistic regression shows that Capital Opacity, Profitability, Financial Leverage, Firm Size and Slack have positive impact on the implementation of an ERM system but Industrial diversification, Industry and Return on Equity are negatively related to an ERM engagement. The results of ordinary least square regression finds positive relationship between use of an ERM and firm value.

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