Supply Chain Risk Management in Young and Mature SMEs

Foli, Samuel; Durst, Susanne; Davies, Lidia; Temel, Serdal

doi:10.3390/jrfm15080328

Cited by 11 publications

(3 citation statements)

References 76 publications

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“…These enterprises are particularly vulnerable to cyberattacks as they often possess limited human and financial resources, which can make them an attractive target for cyber criminals (Carias et al, 2020). However, despite their susceptibility, SMEs play a critical role in the broader context of supply chains (Foli et al, 2022). The information on the selected cyber insurance companies was received from BaFin, which provides databases on the insurers it supervises.…”

Section: Inductive Qualitative Content Analysismentioning

confidence: 99%

Bridging the cyber protection gap: An investigation into the efficacy of the German cyber insurance market

Cremer,

Sheehan,

Fortmann

et al. 2024

Risk Manage Insurance Review

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Cybersecurity requires an effective risk transfer regime and a well‐functioning insurance market to improve stakeholder resilience. However, rapid cyber threat adaptation, limited data availability, and inadequate risk understanding pose significant challenges for the insurance industry and its customers. This research uses a mixed methods approach to analyze the inclusions, exclusions, and suitability of current cyber policies in the German cyber insurance market. The study analyzes 41 cyber insurance policies, representing about 80% of the German cyber insurance market. This examination is supported by semistructured interviews with 23 cyber insurance experts. The authors find that there are no standardized cyber policy wordings, and insurers use different terms and definitions in their insurance policies. Specifically, the results show a significant lack of clarity around coverages and exclusions. This research contributes to the cybersecurity risk management community and will enable businesses, insurance companies, and policymakers to better understand, measure, and manage cyber risk.

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Section: Inductive Qualitative Content Analysismentioning

confidence: 99%

Bridging the cyber protection gap: An investigation into the efficacy of the German cyber insurance market

Cremer,

Sheehan,

Fortmann

et al. 2024

Risk Manage Insurance Review

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“…Risk management and BCM are disciplines that represent a way of creating and increasing the resilience of enterprises to adverse impacts and environmental changes. Risk management and BCM are part of integrated management systems, including the business environment (Bjornsdottir 2022, Foli 2022. Ostapenko (2021) argues that risk management is an effective tool through which the continuity and operability of an enterprise can be ensured even during an adverse situation.…”

Section: Entrepreneurship and Sustainability Issuesmentioning

confidence: 99%

Business interruption management in the context of the COVID-19 pandemic for small and medium-sized enterprises in Slovakia

Mošková¹,

Brutovský²,

Furiak³

et al. 2023

JESI

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From the beginning of 2020 to the end of 2021, a nationwide survey was conducted to examine business interruption due to the COVID-19 pandemic and to identify the impact of the pandemic on SMEs in the Slovak Republic. It also focused on identifying areas such as risk management with BCM, and crisis management within individual enterprises. The survey was carried out using a questionnaire distributed to SMEs operating in the country. Based on the questions from the questionnaire, four research hypotheses were developed. Based on the results of our investigation, we found that enterprises cannot correctly assess their capability level and manage risks effectively, potentially exposing themselves to further threats arising from such a relationship. There is a correlation between the business sector and the extent to which an enterprise has been affected by a pandemic. Enterprises with implemented risk management areas had operations halted for shorter periods than enterprises without implementation. There is a relationship between business sectors and the extent to which they were affected by the pandemic. The discussion concludes that the pandemic posed a type of threat for which several SMEs were unprepared. At the same time, no established risk minimization procedures would address this issue. Effective implementation of risk management as prevention or crisis management as response and application of BCM principles is one of how enterprises could prepare for risks and crises and increase their resilience.

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“…This method is also particularly pertinent for the examination of small samples (Greckhamer et al 2013), which is what is being done in the current study. This is a growing methodology in terms of application in the accounting and economic context; however, it has produced some relevant manuscripts, e.g., Foli et al (2022), Khuong and Anh (2022), Boratyńska (2021), andBedford et al (2016). The fsQCA methodology has also been used in several prior studies on finance and entrepreneurship (Bedford et al 2016;Cervelló-Royo et al 2020;Devece et al 2016;Estevão et al 2020) to analyze the several multivariable configurations leading to some event/value of a certain economic indicator (Park et al 2017).…”

Section: Data Analysis Techniquementioning

confidence: 99%

The Effect of IFRS Adoption on the Business Climate: A Country Perspective

Penela

Estevão

Morais

2022

JRFM

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Based on the ten areas that are measured by the ease of doing business (EDB) and based on the getting credit (GC) indicator, this study seeks to analyze factors that lead to a more favorable business climate in different countries. The methodology of fuzzy-set qualitative comparative analysis (fsQCA) was used to determine the paths taken by configurations or conditions in which variables affect an outcome. The results showed that high EDB and GC scores may be obtained under specified levels of IFRS (International Financial Reporting Standards) adoption degree and user experience requirements. Therefore, the adoption of IFRS could result in a better business climate in a nation since it would increase the comparability of financial statements, which will lower costs for investors, draw in foreign investors, and boost trust. Finally, the findings indicated that, depending on the presence of specific levels of GDP per capita, entrepreneurship, income group, and foreign direct investment (FDI) inflows, low or high values of IFRS adoption and high experience in applying IFRS are necessary to achieve high GC scores.

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Supply Chain Risk Management in Young and Mature SMEs

Cited by 11 publications

References 76 publications

Bridging the cyber protection gap: An investigation into the efficacy of the German cyber insurance market

Bridging the cyber protection gap: An investigation into the efficacy of the German cyber insurance market

Business interruption management in the context of the COVID-19 pandemic for small and medium-sized enterprises in Slovakia

The Effect of IFRS Adoption on the Business Climate: A Country Perspective

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