Enterprise Risk Management Models

Enterprise Risk Management Models

Language: English

Pages: 212

ISBN: 3642114733

Format: PDF / Kindle (mobi) / ePub


Enterprise risk management has always been important. However, the events of the 21st Century have made it even more critical. The top level of business management became suspect after scandals at ENRON, WorldCom, and other business entities. Financially, many firms experienced difficulties from bubbles. The problems of interacting cultures demonstrated risk from terrorism as well, with numerous terrorist attacks, to include 9/11 in the U.S. Risks can arise in many facets of business. Businesses in fact exist to cope with risk in their area of specialization. Financial risk management has focused on banking, accounting, and finance. We have discussed several aspects of risk, to include information systems, disaster management, and supply chain perspectives. The bulk of this book is devoted to presenting a number of operations research models that have been (or could be) applied to enterprise supply risk management, especially from the supply chain perspective.

I Sense a Coldness to Your Mentoring

What Makes Your Brain Happy and Why You Should Do the Opposite

Business Planning Pocketbook

Organizational Behaviour

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 58 59 62 64 65 66 66 67 67 68 6 Disaster Risk Management in China . . . . . . . Chinese Earthquake Disaster Management . . . . . Earthquake Response . . . . . . . . . . . . . . . Chinese Earthquake Response . . . . . . . . . . Database Support . . . . . . . . . . . . . . . . . . Example Database

Risk Identification Once the risk management plan is developed, it can naturally lead to the next step, risk identification. The process of risk identification identifies major potential sources of risk for the specific project. The risk management plan identifies tasks with their risks, as well as project team roles and responsibilities. Historical experience should provide guides (usually implemented in the form of checklists) to things that can go wrong, as well as the organization’s ability

of movement on some measure of value Attribute – a dimension of measurement Keeney and Raiffa distinguish between utility models, based upon tradeoffs of return and risk found in von Neumann-Morgenstern utility theory and the more general value models allowing tradeoffs among any set of objectives and subobjectives. Preferential independence concerns whether the decision maker’s preference among attainment levels on two criteria do not depend on changes in other attribute levels. Attribute

assessment and response, and can be improved by better equipping and training of staff and improved managerial control through better information systems. • Risk management influencers: This level involves actions taken by the organization to improve their risk position. The organization’s attitude toward risk will affect its reward system, and mold how individuals within the organization will react to events. This attitude can be dynamic over time, responding to organizational success or

theory of possibility. Fuzzy Sets and Systems 1: 3–28. 16. Dubois, and Prade. 1998. op. cit. 17. Zadeh. 1978. op. cit. 18. Carlsson, C., and R. Fuller. 2001. On possibilistic mean value and variance of fuzzy numbers. Fuzzy Sets and Systems 122: 315–326; Carlsson, C., R. Fuller, and P. Majlender. 2002. A possibilistic approach to selecting portfolios with highest utility score. Fuzzy Sets and Systems 131: 13–21. 19. Markowitz. 1952. op. cit.; Markowitz, H. 1959. Portfolio selection: Efficient

Download sample

Download