“…Research on generic risk types in business describes absolute risks, that is, risks that are assessed objectively by commercial providers. Among other types of risks identified in this layer of research are such factors as political instability, terrorism, health, and crime (see also Wang, Jao, Chan, & Chung, 2010 Research on risk management in value chains emphasizes the importance of value chain analysis (Kaplinsky & Morris, 2003). Value chains, distinguished by Porter in the 80s, are traditionally described in the literature as consisting of sets of activities that include the process of supply (inbound and outbound logistics, operations, marketing and sales, and after sales service), the transformation of input into output (production and quality processes), and the support services the firm executes to accomplish these tasks (strategic planning, human resource management, technology development).…”