IDEAS home Printed from https://ideas.repec.org/a/vrs/ijcoma/v59y2023i2p1-16n3.html
   My bibliography  Save this article

The Embedment of Risk Management in Enterprise Management System

Author

Listed:
  • Sylwia Bąk

    (Jagiellonian University, Cracow, Poland)

Abstract

Purpose The purpose of this text is to diagnose the degree to which risk management is embedded in enterprise management system, and in particular to identify risk prevention activities taken in different management domains by enterprises listed on the Warsaw Stock Exchange, representing the following three sectors: financial services, construction, and IT. Design/methodology/approach The research was carried out using a triangulation of research methods. The following research methods were used: analysis of the content of source documentation generated by the analyzed enterprises, one-stage logical classification, exemplification, and comparative analysis. The research involved 107 enterprises listed on the Warsaw Stock Exchange and representing the sectors of financial services, construction, and IT. Findings The main conclusion resulting from the research is that risk management is firmly rooted in enterprise management systems, which manifests itself in the presence of measures taken against risk in various management domains, such as strategic, operational, financial, quality, human resources, project, investment, and innovation management. According to the obtained results, the enterprises under analysis the most often apply risk management measures in the areas of strategic management, operational management, and financial management. Originality/value The main added value of the results of the conducted research is the presentation of the management domains in which risk prevention activities are located and the identification of the analyzed enterprises’ specific preventive measures that fall within different management domains and allow the perception of risk management as an integrator of all processes carried out in the enterprise.

Suggested Citation

  • Sylwia Bąk, 2023. "The Embedment of Risk Management in Enterprise Management System," International Journal of Contemporary Management, Sciendo, vol. 59(2), pages 1-16, June.
    • Handle: RePEc:vrs:ijcoma:v:59:y:2023:i:2:p:1-16:n:3
    DOI: 10.2478/ijcm-2022-0014
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/ijcm-2022-0014
    Download Restriction: no
    File URL: https://libkey.io/10.2478/ijcm-2022-0014?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Hammoudeh, Shawkat & McAleer, Michael, 2015. "Advances in financial risk management and economic policy uncertainty: An overview," International Review of Economics & Finance, Elsevier, vol. 40(C), pages 1-7.
    2. Georges Dionne, 2013. "Risk Management: History, Definition, and Critique," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(2), pages 147-166, September.
    3. Singh, Nitya P. & Hong, Paul C., 2020. "Impact of strategic and operational risk management practices on firm performance: An empirical investigation," European Management Journal, Elsevier, vol. 38(5), pages 723-735.
    4. Ana Paula Beck da Silva Etges & Marcelo Nogueira Cortimiglia, 2019. "A systematic review of risk management in innovation-oriented firms," Journal of Risk Research, Taylor & Francis Journals, vol. 22(3), pages 364-381, March.
    5. Xun Li & Zhenyu Wu, 2009. "Corporate risk management and investment decisions," Journal of Risk Finance, Emerald Group Publishing, vol. 10(2), pages 155-168, February.
    6. Charilaos Mertzanis, 2014. "Complexity Analysis and Risk Management in Finance," Contemporary Studies in Economic and Financial Analysis, in: Risk Management Post Financial Crisis: A Period of Monetary Easing, volume 96, pages 15-40, Emerald Group Publishing Limited.
    7. Stephen Manning & Andrew Gurney, 2005. "Operational risk within an insurance market," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 13(4), pages 293-300, December.
    8. repec:eme:mfppss:03074350310768797 is not listed on IDEAS
    9. Stephen Manning & Andrew Gurney, 2005. "Operational risk within an insurance market," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 13(4), pages 293-300, November.
    10. Xun Li & Zhenyu Wu, 2009. "Corporate risk management and investment decisions," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 10(2), pages 155-168, February.
    11. John Hauser & Gerard J. Tellis & Abbie Griffin, 2006. "Research on Innovation: A Review and Agenda for," Marketing Science, INFORMS, vol. 25(6), pages 687-717, 11-12.
    12. repec:eme:bsppss:09657960210450754 is not listed on IDEAS
    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. Ahmad Saufi, Sarah, 2019. "The Determinant Of Liquidity Risk In Vf Corporation," MPRA Paper 97247, University Library of Munich, Germany, revised 25 Nov 2019.
    2. Mario Silic & Andrea Back, 2016. "The Influence of Risk Factors in Decision-Making Process for Open Source Software Adoption," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 15(01), pages 151-185, January.
    3. Tor Helge Aas & Karl Joachim Breunig & Katja Maria Hydle, 2017. "Exploring New Service Portfolio Management," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(06), pages 1-31, August.
    4. Carmen Orden‐Cruz & Jessica Paule‐Vianez & Júlio Lobão, 2023. "The effect of Economic Policy Uncertainty on the credit risk of US commercial banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3420-3436, July.
    5. Małgorzata Wiścicka-Fernando & Sandra Misiak-Kwit & Kelaniyage Shihan Dilruk Fernando, 2019. "Co-Creation as an Innovative Way to Develop an Enterprise—Cross-Country Analysis," Sustainability, MDPI, vol. 11(23), pages 1-13, November.
    6. Jugend, Daniel & da Silva, Sérgio Luis & Salgado, Manoel Henrique & Miguel, Paulo Augusto Cauchick, 2016. "Product portfolio management and performance: Evidence from a survey of innovative Brazilian companies," Journal of Business Research, Elsevier, vol. 69(11), pages 5095-5100.
    7. Nasrabadi, Mohamadreza Azar & Beauregard, Yvan & Ekhlassi, Amir, 2024. "The implication of user-generated content in new product development process: A systematic literature review and future research agenda," Technological Forecasting and Social Change, Elsevier, vol. 206(C).
    8. Peres, Renana & Muller, Eitan & Mahajan, Vijay, 2010. "Innovation diffusion and new product growth models: A critical review and research directions," International Journal of Research in Marketing, Elsevier, vol. 27(2), pages 91-106.
    9. José Ruiz-Canela López, 2021. "How Can Enterprise Risk Management Help in Evaluating the Operational Risks for a Telecommunications Company?," JRFM, MDPI, vol. 14(3), pages 1-26, March.
    10. Steven M. Shugan, 2007. "Editorial—The Anna Karenina Bias: Which Variables to Observe?," Marketing Science, INFORMS, vol. 26(2), pages 145-148, 03-04.
    11. Barry L. Bayus, 2013. "Crowdsourcing New Product Ideas over Time: An Analysis of the Dell IdeaStorm Community," Management Science, INFORMS, vol. 59(1), pages 226-244, June.
    12. Asongu, Simplice A. & Adegboye, Alex & Ejemeyovwi, Jeremiah & Umukoro, Olaoluwa, 2021. "The mobile phone technology, gender inclusive education and public accountability in Sub-Saharan Africa," Telecommunications Policy, Elsevier, vol. 45(4).
    13. Pasquale Del Vecchio & Gioconda Mele & Valentina Ndou & Giustina Secundo, 2018. "Open Innovation and Social Big Data for Sustainability: Evidence from the Tourism Industry," Sustainability, MDPI, vol. 10(9), pages 1-15, September.
    14. Victor Munteanu, 2015. "The Dynamics of the Accounting Models and Their Impact upon the Financial Risk Evaluation," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 1(1), pages 105-117, March.
    15. Vincent K.K. Leung & Marco Chi Keung Lau & Zhe Zhang & Flora F. Gu, 2015. "Explorative versus exploitative alliances: evidence from the glass industry in China," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 13(2), pages 127-146, May.
    16. Zohreh Molamohamadi & Mahmoud Asad Samani & Marjan Karimi, 2024. "Reviewing the historical milestones of risk management," SN Business & Economics, Springer, vol. 4(12), pages 1-20, December.
    17. Andrew F. Whitman, 2015. "Is ERM Legally Required? Yes for Financial and Governmental Institutions, No for Private Enterprises," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 18(2), pages 161-197, September.
    18. Reinhardt, Ronny & Gurtner, Sebastian, 2018. "The overlooked role of embeddedness in disruptive innovation theory," Technological Forecasting and Social Change, Elsevier, vol. 132(C), pages 268-283.
    19. Gensler, Sonja & Oehring, Karlo & Wiesel, Thorsten, 2024. "Reported and communicated shifts in strategic emphasis and firm performance," International Journal of Research in Marketing, Elsevier, vol. 41(2), pages 220-240.
    20. Amini, Mehdi & Wakolbinger, Tina & Racer, Michael & Nejad, Mohammad G., 2012. "Alternative supply chain production–sales policies for new product diffusion: An agent-based modeling and simulation approach," European Journal of Operational Research, Elsevier, vol. 216(2), pages 301-311.

    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:vrs:ijcoma:v:59:y:2023:i:2:p:1-16:n:3. 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: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    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.