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Books > Business & Economics > Business & management > Business strategy
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Risk Management in Small and Medium Enterprises (Hardcover)
Loot Price: R3,865
Discovery Miles 38 650
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Risk Management in Small and Medium Enterprises (Hardcover)
Series: Routledge-Giappichelli Studies in Business and Management
Expected to ship within 12 - 17 working days
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This book offers a fresh method of assessing and managing risks in
SMEs, by adopting a multidisciplinary approach. In small and medium
companies, the risk management process cannot be often formalised
and procedures are usually integrated unconsciously into the
decision-making process. Therefore, to enhance the flexibility of
these companies, increase their market share and allow them to grow
and manage risks more effectively, the first step is to improve the
way decisions are made. Consequently, it is fundamental for those
companies to improve the awareness about the way reasonable
decisions are made, which can be achieved only through a proper
knowledge and the definition of the Risk Appetite Framework.
Therefore, by improving knowledge, the risk appetite and awareness
in the decision making, companies will implicitly start developing
a risk consciousness, which can be translated into a sound risk
approach. SMEs need to understand the importance of an effective
internal control system. Hence, the central point is the necessity
to start reconsidering the company as a unique entity, by adopting
a holistic approach. The book explores whether small and medium
companies should adopt a formalised risk management process and,
more importantly, the role that the development of an appropriate
risk mindfulness and approach to expand existing functions plays in
these entities. It suggests an appropriate way of thinking about
risk, starting with the amalgamation of both past and present
theories, and enabling SMEs to find a solution to improve the
effectiveness of their risk management strategies.
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