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Risk management in small and medium enterprises

Author: Chiara Crovini
Publisher: Abingdon, Oxon : Routledge, 2019.
Series: Routledge-Giappichelli studies in business and management.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This book offers a fresh method of assessing and managing risks in SMEs, by adopting a multidisciplinary approach. In small and medium companies, the risk management process cannot be often formalised and procedures are usually integrated unconsciously into the decision-making process. Therefore, to enhance the flexibility of these companies, increase their market share and allow them to grow and manage risks more  Read more...
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Details

Genre/Form: Electronic books
Additional Physical Format: Print version :
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Chiara Crovini
ISBN: 9780415000444 0415000440 9780429276316 0429276311 9781000007275 1000007278 9780415000918 0415000912 9780415001380 0415001382
OCLC Number: 1085890333
Description: 1 online resource.
Contents: Theoretical background --
The management of risks in SMEs --
Case study --
Key emerging issues --
Summary and conclusion --
References.
Series Title: Routledge-Giappichelli studies in business and management.
Responsibility: Chiara Crovini.

Abstract:

This book offers a fresh method of assessing and managing risks in SMEs, by adopting a multidisciplinary approach. In small and medium companies, the risk management process cannot be often formalised and procedures are usually integrated unconsciously into the decision-making process. Therefore, to enhance the flexibility of these companies, increase their market share and allow them to grow and manage risks more effectively, the first step is to improve the way decisions are made. Consequently, it is fundamental for those companies to improve the awareness about the way reasonable decisions are made, which can be achieved only through a proper knowledge and the definition of the Risk Appetite Framework. Therefore, by improving knowledge, the risk appetite and awareness in the decision making, companies will implicitly start developing a risk consciousness, which can be translated into a sound risk approach. SMEs need to understand the importance of an effective internal control system. Hence, the central point is the necessity to start reconsidering the company as a unique entity, by adopting a holistic approach. The book explores whether small and medium companies should adopt a formalised risk management process and, more importantly, the role that the development of an appropriate risk mindfulness and approach to expand existing functions plays in these entities. It suggests an appropriate way of thinking about risk, starting with the amalgamation of both past and present theories, and enabling SMEs to find a solution to improve the effectiveness of their risk management strategies.

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