Strategic Management in 2024: Key Strategies for Business Success
Strategic management is the cornerstone of business success. It's about setting clear goals, analysing strengths and weaknesses, formulating a robust plan, and executing it flawlessly. From SWOT analysis to balanced scorecards, the right tools can propel your company forward. Embrace this process, and watch your business thrive in today's competitive landscape.
Strategic Management School of Thoughts: Synergistic Integration toward Strategy Implementation
Business strategy is a means of achieving a competitive edge, and strategic implementation is a driving force for a company’s competitive and sustainable performance. The strategic management schools of thought presented ideal and philosophical perceptions about firms' strategies in prevailing circumstances. Unfortunately, managers' emphasis is more on crafted strategies than implementation;..........
Bringing True Strategic Foresight Back to Business
Strategy and foresight were once the same discipline. And they should
be again. The immediacy of day-to-day operations can lead to a strategic process
that is more about ticking boxes and filling templates, which often end up
languishing, unopened, in an... more
The relationship between Enterprise Risk Management and Managerial Judgement in Decision-making: A Systematic Literature Review
Enterprise risk management (ERM) promises to improve decision-making and help organizations avoid wicked problems. Consequently, risk artefacts may play a significant role in managers’ decision-making processes, but little is known about the relationship between ERM and managerial judgement in decision-making (MJDM). The purpose of this paper is to present a systematic literature review of ERM, thereby filling this knowledge gap and providing an evidence based foundation for improving practice and advancing knowledge and theory development.
Navigating Risk in the Modern Business Landscape: Strategies and Insights for Enterprise Risk Management Implementation
As businesses actively seek ways to safeguard their valuable data and resources, efficient defense techniques are paramount. The surge in cyber threats, driven by malicious attacks and cybercrime fueled by internet technology and mobile apps, emphasizes the urgency for comprehensive risk management strategies. Effective risk management strategies have become indispensable for competitive businesses. ERM entangles determining, evaluating, and thwarting potential hazards that endanger business objectives.
Enterprise Risk Management and Business Strategy on Firm Performance: The role of Mediating Competitive Advantage
This research aims to know and analyze the contribution of enterprise risk management and business strategy to the competitive advantage and company performance of shipping companies
listed on the Indonesia Stock Exchange........
Risk Committee’s Influence on Enterprise Risk Management
Risk is real and it is particularly very serious in the case of managing banks in Nigeria because of several reasons; including the fact that it is an emerging economy. It can affect a bank’s
bottom-line to say the least and even its survival. It is in view of this that this article links risk committee effectiveness with risk management by banks in Nigeria. Using 130 observations (13 banks, 10 years) for 2012-2021, we employ a correlational research design to develop a panel model linking risk committee characteristics with risk management......
Evaluating and Establishing Baseline Security Requirements in Cloud Computing: An Enterprise Risk Management Approach
In today's digital age, businesses use cloud services to boost their operations exponentially. While this trend presents excellent potential, it is marred by significant concerns over the safety of data stored in the cloud. As the demand for cloud computing increases, businesses face issues ranging from data breaches and provider security to service availability and regulatory compliance.
Exploring the Indirect Links between Enterprise Risk Management and the Financial Performance of SMEs
This paper responds to the lack of empirical evidence on how enterprise risk management (ERM) and the financial performance of small and medium-sized enterprises (SMEs) are related. Structural equation modeling is used to explore new
mediators in the relationship between ERM and SME financial performance. The
results show that organizational culture (mission dimension) and strategic risk management performance are full and positive mediators between ERM and financial performance......
Quantifying Organisational Resilience: An Integrated Resource Efficiency View
Organisations are increasingly exposed to risks from globally disruptive events, triggering interest and new research into organisational resilience. Several levers to increase resilience are defined in the literature but organisations still find it challenging to prepare for the next disruption. This study contributes to the resilience literature by drawing on the integrated resource efficiency view (IREV) framework to measure four levers of organisational resilience and derive an organisational resilience index (ORI)......