IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2023v6p194-198.html
   My bibliography  Save this article

Theoretical And Methodological Approaches On Risk Management In Organisations

Author

Listed:
  • CINCIULESCU DUMITRU

    (UNIVERSITY OF CRAIOVA EUGENIU CARADA DOCTORAL SCHOOL OF ECONOMIC SCIENCES)

Abstract

Risk management should be seen as a continuous process, which needs to be updated and adjusted according to the changing business environment and organisational context. It is important that organisations approach risk management rigorously and allocate adequate time and resources to this process. The theoretical and methodological approaches summarised in this paper, could enable organisations to identify and classify potential risks and develop appropriate risk management strategies, as well as make informed decisions to mitigate the negative impact of risks and capitalise on opportunities. Risk assessment is part of a continuous risk management process, ensuring that the organisation remains prudent and prepared to meet the challenges of the changing business environment. A number of relevant aspects characterising risk management will be analysed and summarised, as well as risk management principles, tools and strategies. In addition to the theoretical approaches, an important part of the paper is devoted to highlighting the factors influencing risk and profitability and assessing the changes in the structure of these determinants as a result of the economic crisis generated by the COVID-19 pandemic. At the same time, we also aim to quantify the marginal impact of risks on profitability in order to optimise risk-profit and risk-capital-profitability relationships.

Suggested Citation

  • Cinciulescu Dumitru, 2023. "Theoretical And Methodological Approaches On Risk Management In Organisations," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 194-198, December.
    • Handle: RePEc:cbu:jrnlec:y:2023:v:6:p:194-198
    as

    Download full text from publisher

    File URL: https://www.utgjiu.ro/revista/ec/pdf/2023-06/20_cinciulescud.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jeffrey H. Dyer & Kentaro Nobeoka, 2000. "Creating and managing a high‐performance knowledge‐sharing network: the Toyota case," Strategic Management Journal, Wiley Blackwell, vol. 21(3), pages 345-367, March.
    2. Gosling, J. & Purvis, L. & Naim, M.M., 2010. "Supply chain flexibility as a determinant of supplier selection," International Journal of Production Economics, Elsevier, vol. 128(1), pages 11-21, November.
    3. Choi, Thomas Y. & Budny, Jaroslaw & Wank, Norbert, 2004. "Intellectual property management: a knowledge supply chain perspective," Business Horizons, Elsevier, vol. 47(1), pages 37-44.
    4. Brian Tomlin, 2006. "On the Value of Mitigation and Contingency Strategies for Managing Supply Chain Disruption Risks," Management Science, INFORMS, vol. 52(5), pages 639-657, May.
    5. Lee, Hau L. & Whang, Seungjin, 2005. "Higher supply chain security with lower cost: Lessons from total quality management," International Journal of Production Economics, Elsevier, vol. 96(3), pages 289-300, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Scott DuHadway & Steven Carnovale & Benjamin Hazen, 2019. "Understanding risk management for intentional supply chain disruptions: risk detection, risk mitigation, and risk recovery," Annals of Operations Research, Springer, vol. 283(1), pages 179-198, December.
    2. M. J. Hermoso-Orzáez & J. Garzón-Moreno, 2022. "Risk management methodology in the supply chain: a case study applied," Annals of Operations Research, Springer, vol. 313(2), pages 1051-1075, June.
    3. Das, Kanchan, 2011. "Integrating effective flexibility measures into a strategic supply chain planning model," European Journal of Operational Research, Elsevier, vol. 211(1), pages 170-183, May.
    4. Marta Pérez-Pérez & Canan Kocabasoglu-Hillmer & Ana María Serrano-Bedia & María Concepción López-Fernández, 2019. "Manufacturing and Supply Chain Flexibility: Building an Integrative Conceptual Model Through Systematic Literature Review and Bibliometric Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(1), pages 1-23, December.
    5. Amulya Gurtu & Jestin Johny, 2021. "Supply Chain Risk Management: Literature Review," Risks, MDPI, vol. 9(1), pages 1-16, January.
    6. Nitin Bakshi & Noah Gans, 2010. "Securing the Containerized Supply Chain: Analysis of Government Incentives for Private Investment," Management Science, INFORMS, vol. 56(2), pages 219-233, February.
    7. Schmidt, Christoph G. & Wuttke, David A. & Heese, H. Sebastian & Wagner, Stephan M., 2023. "Antecedents of public reactions to supply chain glitches," International Journal of Production Economics, Elsevier, vol. 259(C).
    8. Jie Wu & Zhixin Chen & Xiang Ji, 2020. "Sustainable trade promotion decisions under demand disruption in manufacturer-retailer supply chains," Annals of Operations Research, Springer, vol. 290(1), pages 115-143, July.
    9. Xiang Li, 2017. "Optimal procurement strategies from suppliers with random yield and all-or-nothing risks," Annals of Operations Research, Springer, vol. 257(1), pages 167-181, October.
    10. Carolina Rojas-Córdova & Amanda J. Williamson & Julio A. Pertuze & Gustavo Calvo, 2023. "Why one strategy does not fit all: a systematic review on exploration–exploitation in different organizational archetypes," Review of Managerial Science, Springer, vol. 17(7), pages 2251-2295, October.
    11. Pourakbar, M. & Zuidwijk, R.A., 2018. "The role of customs in securing containerized global supply chains," European Journal of Operational Research, Elsevier, vol. 271(1), pages 331-340.
    12. Shenglan Huang & Zhi Chen, 2017. "The Effects of Social Capital on Innovation Performance: From Complex Adaptive System Perspective," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(3), pages 191-191, February.
    13. Ho-Yin Mak & Zuo-Jun Max Shen, 2014. "Pooling and Dependence of Demand and Yield in Multiple-Location Inventory Systems," Manufacturing & Service Operations Management, INFORMS, vol. 16(2), pages 263-269, May.
    14. Tang, Liang & Jing, Ke & He, Jie & Stanley, H. Eugene, 2016. "Robustness of assembly supply chain networks by considering risk propagation and cascading failure," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 459(C), pages 129-139.
    15. Shahid Qureshi & Sarfraz Mian, 2021. "Transfer of entrepreneurship education best practices from business schools to engineering and technology institutions: evidence from Pakistan," The Journal of Technology Transfer, Springer, vol. 46(2), pages 366-392, April.
    16. Lauren Xiaoyuan Lu & Jan A. Van Mieghem, 2009. "Multimarket Facility Network Design with Offshoring Applications," Manufacturing & Service Operations Management, INFORMS, vol. 11(1), pages 90-108, October.
    17. Sujan Piya & Ahm Shamsuzzoha & Mohammad Khadem & Nasr Al-Hinai, 2020. "Identification of Critical Factors and Their Interrelationships to Design Agile Supply Chain: Special Focus to Oil and Gas Industries," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(3), pages 263-281, September.
    18. von den Driesch, Till & Eva Susanne da Costa, Maika & Christina Flatten, Tessa & Brettel, Malte, 2015. "How CEO experience, personality, and network affect firms' dynamic capabilities," European Management Journal, Elsevier, vol. 33(4), pages 245-256.
    19. Jianghua Zhou & Rui Wu & Jizhen Li, 2019. "More ties the merrier? Different social ties and firm innovation performance," Asia Pacific Journal of Management, Springer, vol. 36(2), pages 445-471, June.
    20. Hock-Doepgen, Marianne & Clauss, Thomas & Kraus, Sascha & Cheng, Cheng-Feng, 2021. "Knowledge management capabilities and organizational risk-taking for business model innovation in SMEs," Journal of Business Research, Elsevier, vol. 130(C), pages 683-697.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2023:v:6:p:194-198. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ecobici Nicolae (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.