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Risk management practices in the main industries of German small to medium-sized enterprises.

Henschel , Thomas (2007) Risk management practices in the main industries of German small to medium-sized enterprises. PhD thesis, Edinburgh Napier University.

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      Abstract/Description

      The business management literature has largely neglected the theme of risk
      management for SMEs. So the aim of this research was to explore the current state
      of risk management in German SMEs and to reveal the problems which firms have
      with implementing a risk management system.
      Risk management is a relatively new discipline. Thus until now no general
      standard has been developed what to understand by a holistic risk management.
      Based on an extensive literature analysis, this study - besides risk management in
      the stricter sense - also sees the following components as essential for a holistic
      risk management: business planning and modern instruments of performance
      measurement. The present investigation places a special focus on these
      subsystems.
      Because of lacking empirical data a nationwide postal questionnaire has been
      chosen to obtain a broad picture of current risk management practices in German
      SMEs. A validation and further deepening of the results has been carried out by a
      larger number of research interviews.
      Derived from a comprehensive analysis of the questionnaire and the interview
      results, a scoring approacht o assessth e risk managements ophisticationo f SMEs
      has been developed. The approach does not, as usual, evaluate one single scoring
      figure. Insteadi t allows a differentiated assessmenbt y evaluating separates coring
      figures for each component of a holistic risk management system. The scoring
      approach presented is very transparent and thus can easily be adapted for similar
      research problems of risk management.
      Based on the scoring approach, this study introduces a new typology of risk
      management practices, derived from the empirical findings. It extracts three types
      of firms' risk management practices: reactors, defender/prospectors and analysers.
      The typology draws on the well-established approach of Miles and Snow who
      developed their types for classifying business organizations. The present study
      develops the Miles and Snow typology and makes it applicable for the purpose of
      risk management practices.
      Each of the three risk management types is described by its determinants with
      respect to the components of a holistic risk management. Then recommendations
      are formulated which actions a firm of the respective type should take to improve
      its risk managementt,h us contributing to the firm's further positive development

      Item Type: Thesis (PhD)
      Uncontrolled Keywords: Risk management; SME; Germany; business planning; performance measurement;
      University Divisions/Research Centres: The Business School > School of Accounting, Economics and Statistics
      Dewey Decimal Subjects: 600 Technology > 650 Management & public relations > 658 General management
      Library of Congress Subjects: H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
      Item ID: 3674
      Depositing User: Mrs Lyn Gibson
      Date Deposited: 11 Mar 2010 20:12
      Last Modified: 11 Sep 2012 14:27
      URI: http://researchrepository.napier.ac.uk/id/eprint/3674

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