Enterprise Risk Management in the Specialty Chemical Distribution Sector: A Literature Review

A literature review was conducted on risks in businesses, types of risks and risk management in general, and further research was conducted for three of the selected global specialty chemical distributors, namely Brenntag, IMCD and Univar. The purpose of the research is to identify the risks and types of risk confronting the specialty chemical distribution sector, how they identify their risks, manage them, and quantify their risks, if at all.The stakeholder theory approach was adopted for the research on enterprise risk management. There was strong convergence on the risks identified from the research and the differences being only on the extent of the impact each of the risk had on the specific company. The choice of the global specialty chemical distributors, Brenntag, IMCD and Univar, for the research was justified because of their prominence in the global market space and the risks identified would be representative of the risks in the chemical distribution sector. Different companies identify their risks and the type of risks differently, but there are many similarities on the risks identified between each of them. Many of the risks identified revolves around issues in financial, operational, legal and regulatory, economics and political, markets, and safety, health and the environment.The depth of the risks identified and analyzed by Brenntag, IMCD and Univar varies in their risk management process but they all have invested significant effort in their financial risks, especially the impact in fluctuations of interest and foreign exchange rates on their financial performances.

Impact of Financial Knowledge and Investment Experience on Investment Decision Making with and without Risk Tolerance Mediation

This research will explore the relationship between financial knowledge, investment experience, and investment decision making. The primary dataset was obtained from the investors in Pakistan stock exchange located in the city of Lahore, Punjab, Pakistan. The random sampling technique was used for the respondent selection. The comprehensive questionnaire contains the nominal, ordinal categorical scales for a survey response. The normality & reliability of the data were further verified by the statistical tests. The results estimated using the multiple regression analysis will be revealed in this study. This research will study the impact of the financial knowledge on investment decision making with and without the financial risk tolerance. Financial risk tolerance plays a mediating role during the process.

The Effect of Electronic Banking on Customer Services Delivery in Commercial Banks in Rwanda

The aim of the study was to assess how electronic banking affected customer delivery channels in Rwanda commercial banks. The specific objectives include assessing the effectiveness of e-banking, analyzing the factors affecting the customer delivery system, and also finding out the affiliation that exists between customer service delivery and e-banking in the bank of Kigali. Study participants included 1215 employee and about 350000 bank clients. The total number was 351215 study participants. The sample size was 400, which included both the staff and clients. The study revealed that customer service delivery in Bank of Kigali was explained by the probability of 0.0374 for internet banking; by the probability of 0.0004 for mobile banking; by probability of 0.0010 for electronic tax and that are respectively expected to 3.74% & 0.04% & 0.1% and of probabilities which are less than 10%. If we consider the simple regression theory, there is a probability of less than 10% by each electronic banking factor, which represents functional fitness variability. The R2 is 0.969, whereas the Adjusted R2 is 0.965, which indicates estimated model goodness. Up to 96.9% of the long-run appreciation in customer service delivery is influenced by changes in internet banking; mobile banking; electronic tax as implemented by the organization. Hence, the study revealed of essential affiliation between electronic banking and the observed factors, and the customer delivery channel in Bank of Kigali. The study recommended on sensitization of clients on the utilization and advantages of electronic banking services through having public awareness programs that boost their knowledge of the service.

Fiscal Discipline and the Successful Completion of Municipal Projects: The Case of City of Tshwane

Kaiser, Crother, Kelly, Luiselli, O’Shea, Ota, Passos, Schleip and Wuster (2013) have shown the relationship between fiscal discipline and the successful completion of municipal projects in Sub-Saharan African countries. The study aims to assess and evaluate the degree of fiscal discipline exercised by employees of the City of Tshwane on municipal finance. Financial practitioners working in the City of Tshwane are required to comply with regulations and guidelines stipulated in the South African Municipal Finance Management Act (Act number 56 of 2003). Data was collected from a stratified random sample of 146 employees of the City of Tshwane who were responsible for providing financial services to customers. Data was collected by using a structured, pre-tested and validated questionnaire of study. Statistical methods such as frequency tables, cross-tab analyses and ordered probit regression were used for performing data analyses. Efficiency in financial management was assessed by assessing the degree of adherence of employees to the Municipal Finance Management Act (MFMA) based on a composite index defined by Kaiser, Crother, Kelly, Luiselli, O’Shea, Ota, Passos, Schleip & Wuster (2013). The study showed that 89% of the 146 employees who were selected for the study demonstrated adequate adherence to the Act, whereas 11% of employees failed to do so by the same standards. The study found that the degree of adherence of employees to the MFMA was significantly influenced by 3 factors. These 3 factors were degree of skills in financial accounting and auditing, duration of service, and degree of job satisfaction, in a decreasing order of strength. The results indicated a robust association between fiscal discipline and the successful completion of municipal projects.

Reverse Measurement as a Tool for Management Method Evaluation

Strategic planning is a procedure that is supposed to define organizational development through the identification of strategic goals. Models can help in understanding the business technology and in creation of formal specifications of the functionality, structure and behavior of real system appearances. By giving the entities in the model numerical values, possible improvements can be simulated, measured and evaluated according to the measurements, and then use for managing the organization. The issue on this approach is that the results that are gotten from the model measurements can be compared to the real values that the model results represent only after they are already accomplished. In this paper the use of reverse measurement is being introduced as a tool for evaluating management methods, in order to ensure the usability of a method prior to its application for managing the organization.

A Business Enterprise Resilience Model to Address Strategic Disruptions

Resilient business enterprises are able to survive strategic disruptions like technology disruptions and come back as more successful. They succeed because they have resilient characteristics and apply resilience strategies. Based on a case study analysis, this paper builds a business enterprise resilience model that guides the business enterprises to build the resilience capabilities that enable them to survive during strategic disruptions. The proposed model guides the business enterprise to instil in its architecture the design characteristics of resilience that make it ready to respond to disruption. The model uses the resilience strategies of mitigation, adaptation, and transformation and applies them at three enterprise levels; the operating model level, the competitive strategy level, and the business model level. The mitigation strategy moves the operating model to the efficiency frontier. The adaption strategy recovers the enterprise from the impacts of the strategic disruptions. The transformation strategy transforms the enterprise business model totally.

Integrated Enterprise Resilience Architecture Framework for Surviving Strategic Disruptions

Resilient business enterprises are able to survive strategic disruptions like technology disruptions and come back more successful. They succeed because they develop and effectively implement the resilience strategies of mitigation, adaption, and transformation. This paper proposes an integrated resilience framework that is based on a combination of enterprise architecture and business architecture frameworks. At the core of the proposed framework is a meta-model and a method. The framework guides the development of a unified vision of how a business enterprise can address a specific strategic disruption and transform itself in a successful way. The framework articulates the vision through the lens of business blueprint views that guide the formation of transformation initiatives. Through the mapping capabilities of the framework, the transformation initiatives cross over the boundaries between organization structures and domains. In the last section we demonstrate our proposed method and meta-model with the help of a case study.

Risk Management Strategies and the Role of Social Context: A Comparative Study

Researchers have been suggesting that there is a need to examine the wider social context and its role in influencing flood risk management strategies; this has also been joined by a call for further research into the risks of increased rainfall as part of overall climate change. In response to these calls this research study examines the case studies of two pluvial, meaning of or caused by rainfall, flood events; the Calgary, Canada floods of 2013 and the Montrose, Scotland floods of 2016. These events were considered to be 1 in 100 year low probability scenarios and caused significant disruption to the affected areas. The study focuses on the examination into the social context of such events; by examining the risk perceptions before the event, the flood management strategies used and the social impact of the events it was possible to gain insight into the wider picture of pluvial flooding. The analysis of the cases demonstrated that the perceptions of the events were low, due to the unusual nature of the events, but the forecasting of a flood and the issuing of warnings helped to reduce the impact and predict the areas that were most likely to be affected. It has also highlighted the importance of setting common goals, and engaging with, all the necessary stakeholders to improve the effectiveness of strategies and responses. The study concludes by indicating issues that may be of interest to decision makers and researchers in the field of risk management.

Impact of Integrated Financial Management Information System on Performance of Public Institutions in Rwanda

A study of assessing the contribution of adoption of IFMIS on performance of Public institutions in Rwanda was carried out under the period 2012-2016. The study is descriptive in nature where raw data was used. Data were collected from 51 out of 197 total population sampled based on available respondents. Methods such as questionnaire, observation, interview and documents was used together both primary and secondary data. After data collection, SPSS Version 32 program was been used for gathering data and cleaning them. The Software also was used to perform statistical techniques that including percentages, mean, standard deviation, and correlation, this was helped the researcher in getting findings for the research conclusion and recommendation.Findings revealed that IFMIS was fully adopted in MINECOFIN with mean of 4.05 indicate that respondents are strongly agree that IFMIS was adopted fully in MINECOFIN: the implementation of the system was done following all required steps, (mean of 3.86 and standard deviation of .721) and it was also increased the capacity bulding of its personnel by offering the necessary training (with mean of 4.43 and standard deviation of .7). the adoption of IFMIS helped in budgeting system (mean of 3.990, cash management (with mean of 4.15), financial reporting (with mean of 4.02) and internal control system (with mean of 4.16). This affected positively the performance of the organization where the correlation between the adoption of IFMIS and performance of MINECOFIN was .976 means the perfect correlation. By conclusion, we confirm the research of Rodin (2008) and (Diamond and Khemani, 2006), that they are significant contribution of integrated financial management information system on performance of public institutions in Rwanda, where it generates timely, the accurate information for the management decision making.

The Effect of Non-Peforming Loans Management on the Financial Performance of Commercial Banks in Rwanda: A Case Study of ECOBANK Rwanda

The study assessed the impact of Non-Performing Loans management on the financial performance of commercial Banks in Rwanda: a case study of ECOBANK Rwanda throughout the period from 2013 -2015. Qualitative and quantitative data were collected from the total population of 295 of employees of ECOBANK Rwanda where a sample of 170 of respondents was selected. The findings were summarized below in accordance of research objectives. Methods such as questionnaires, structured interview were used under this study. From the findings, the results confirmed there are many factors account for the incidence of non-performing loans in ECOBANK. The profit ratios performance of ECOBANK RWANDA from 2013 to 2015 indicated an increase from 2013 to 2014 where it came from on 9.24% to 14.92% of profit, while in 2014 to 2015 are characterized by increasing in profit from 14.92% to 15.18% of profit. There is an evidence of association between NPLs management and financial performance of ECOBANK Rwanda which was 0.741. ECOBANK Rwanda should look if it is necessary the participation of all stakeholders in the implementation of credits delivery principles. It should continue to do an improvement since NPLs management contributes 54.9% on financial performance at ECOBANK, they could reach even on 100.0% when improvement is done well at this commercial bank.