Improving Operational Risk Management Using Business Performance Management Technologies

Weeserik, Bram Pieket; Spruit, Marco

doi:10.3390/su10030640

Cited by 20 publications

(17 citation statements)

References 46 publications

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“…Some scholars argue that environmental factors have a minor impact on a company's risks and that most of a company's risks are derived from executive behavior. Their study results imply that an executive's capability has a greater influence on business performance than external factors [43][44][45].…”

Section: Hypothesis 1 (H1)mentioning

confidence: 91%

How Risk Managers’ Psychological and Social Capital Promotes the Development of Risk-Management Capabilities

Cui

Jin

Lee³

2020

Sustainability

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The purpose of this study is to investigate the roles of risk managers’ psychological and social capital in risk-management capabilities (technical, business processes, and external resources) and the relationship between risk-management capabilities and management performance. This study treated organizational culture as a moderating variable. The research subjects (n = 1000) included top managers, general managers, and managers in various industries. This study found that risk managers’ positive psychological and social capital play important roles in corporate risk-management capabilities. The investigation of the moderating effect of organizational culture also provides important guidelines for future studies. This study found that components of psychological capital (e.g., hope, resilience, optimism, and self-efficacy) had a positive effect on substitute-risk-management capabilities (e.g., technology, business, and external management). Moreover, components of social capital (e.g., managerial tie utilization, trust, and solidarity) had a positive effect on substitute-risk-management capabilities (e.g., technology, business, and external management). The social and psychological capital of a company’s top management and managers are essential elements for strengthening the company’s capabilities for business and risk management. This study also found that the strength of the moderating effects on the relationship between psychological and social capital and risk-management capabilities differs according to the organizational culture. The implications of the study and limitations are discussed.

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Section: Hypothesis 1 (H1)mentioning

confidence: 91%

How Risk Managers’ Psychological and Social Capital Promotes the Development of Risk-Management Capabilities

Cui

Jin

Lee³

2020

Sustainability

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“…Effective controls are largely dependent on adherence to constitutional and regulatory provisions Pakurár, Haddad [16]. Additional signs of effective control include the degree to which the internal audit is designed to be independent in order to protect the integrity of the regulatory regime and the daily validation of transactions [17]. Alternatively, Lartey, Kong, Afriyie, Santosh, and Bah (2020) examined the board's independent oversight and also viewed the audit committee's objectivity in tightening control policies with the assistance of external auditors responsible for validating accountability standards as part of essential indicators of internal control effectiveness.…”

Section: Internal Control Effectivenessmentioning

confidence: 99%

Principles of public internal controls: A mediation role of information and communication

et al. 2022

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While empirical research has demonstrated the critical nature of internal controls, there is insufficient evidence to indicate that they are effective at detecting and preventing irregularities in the public sector. By analyzing the direct and indirect relationships between internal control components, this study focuses on the quality of internal control in Ghana's public sector. In order to determine whether ongoing controls are consistent with sound public policy, a survey was designed and distributed to public sector employees and managers. According to the evidence, public administrators require high-quality information and communication tools to supplement their existing control systems. Additionally, internal controls are significantly influenced by risk assessment and the control environment, whereas monitoring and control activities have a limited impact. Effective internal communication is necessary for the coordination and implementation of control policies.

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“…Such development would not only promote changes in the values of society and stakeholders, but would also further improve internal control theory and control objectives [35]. The overall framework for internal control and enterprise risk management integration should not only consider changes in the external environment of the company's internal control, but also the risks of incorporating corporate social responsibility [37,38]. It should also actively strengthen the integration of corporate social responsibility and internal control objectives.…”

Section: Improving Internal Control and Strengthening Corporate Sociamentioning

confidence: 99%

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

Liu

2018

Sustainability

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Although the importance of corporate social responsibility has received more attention over the years, the goal of social sustainability has still not been achieved. The main reason is that companies seeking to implement social sustainability, have failed to incorporate the concept of corporate social responsibility into their corporate internal control objectives. Furthermore, studying the interactive relationship between corporate social responsibility and internal control and ensuring the consistency of corporate strategy and internal control objectives are done to help promote the sustainable development of enterprises. In order to promote social sustainability and improve management decision-making gaps, therefore, the purpose of this paper is to develop a new hybrid multi-attribute decision model to assess the impact of corporate social responsibility for the implementation of internal control that includes corporate social responsibility. The empirical results show that a social responsibility-oriented internal control system may be a better strategy than maintaining the original internal control objectives. In addition, by adjusting the internal control system to jointly promote the sustainable development goals of the company and ensure the consistency of corporate strategy and internal control objectives, the company can be truly guided to implement the social responsibility management objectives. Finally, the social sustainable development goals can be truly realized, and the interests of all stakeholders in the enterprise can be truly satisfied.

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Improving Operational Risk Management Using Business Performance Management Technologies

Cited by 20 publications

References 46 publications

How Risk Managers’ Psychological and Social Capital Promotes the Development of Risk-Management Capabilities

How Risk Managers’ Psychological and Social Capital Promotes the Development of Risk-Management Capabilities

Principles of public internal controls: A mediation role of information and communication

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

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