Template-Type: ReDIF-Article 1.0 Author-Name: Rafi Ashrafi Author-X-Name-First: Rafi Author-X-Name-Last: Ashrafi Author-Name: Haitham AlKindi Author-X-Name-First: Haitham Author-X-Name-Last: AlKindi Title: A framework for IS/IT disaster recovery planning Abstract: As organisations increasingly rely on data, information, and technology, they are exposed to various disasters such as power outages, natural disasters, fraud, terrorist attacks and viruses. These disasters may cause disruption to the organisation's services and may have an impact on business (Karim, 2011). As a result, information systems/(IS)/information technology (IT) disaster recovery planning (DRP) has received considerable attention among the practitioners and researchers during the past two decades (Lewis et al., 2003; Nelson 2006). Literature shows that there is a lack of suitable frameworks for IT DRP (Baham et al., 2017). To fill this gap, this study identifies a set of 10 critical success factors (CSFs) from previous research, defines the effectiveness of IT DRP, and proposes a framework for IS/IT DRP. The framework establishes a relationship between CSFs and DRP effectiveness. This study will help organisations in adopting a suitable framework and improving their disaster recovery efforts in order to be more effective in dealing with IS/IT disasters. Journal: Int. J. of Business Continuity and Risk Management Pages: 1-21 Issue: 1 Volume: 12 Year: 2022 Keywords: information technology; information systems; disaster recovery planning; DRP; framework; critical success factors; CSFs. File-URL: http://www.inderscience.com/link.php?id=121645 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:1:p:1-21 Template-Type: ReDIF-Article 1.0 Author-Name: Varaidzo Denhere Author-X-Name-First: Varaidzo Author-X-Name-Last: Denhere Author-Name: Tankiso Moloi Author-X-Name-First: Tankiso Author-X-Name-Last: Moloi Title: Engagement risk management instrument for the Zimbabwean audit firms Abstract: This study is aimed at developing an ERMI to be considered for utilisation by Zimbabwean audit firms. The proposed ERMI will guide audit partners and chief risk officers in assessing engagement risk for potential clients before accepting or rejecting them for an audit engagement. A Delphi process was employed to a panel of engagement risk experts, namely audit partners and chief risk officers. This study has identified engagement risk factors that should be assessed before client acceptance in the Zimbabwean context. It has further provided the ERMI which could be considered and adopted by Zimbabwean firms when they make a decision whether to accept or reject a potential client. It is envisaged that this instrument, will be pivotal in the reduction of reputational risk associated with litigation that follows when the auditee fails. Other countries could adopt the approach utilised to get to the ERMI for country specific ERMIs. Journal: Int. J. of Business Continuity and Risk Management Pages: 22-41 Issue: 1 Volume: 12 Year: 2022 Keywords: engagement risk instrument; engagement risk factors; client acceptance; business continuity; risk management. File-URL: http://www.inderscience.com/link.php?id=121646 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:1:p:22-41 Template-Type: ReDIF-Article 1.0 Author-Name: Paul Danquah Author-X-Name-First: Paul Author-X-Name-Last: Danquah Author-Name: Stephen Bekoe Author-X-Name-First: Stephen Author-X-Name-Last: Bekoe Author-Name: Victor Gordon Author-X-Name-First: Victor Author-X-Name-Last: Gordon Title: An empirical assessment of information security best practices and information technology disaster recovery readiness in Ghanaian micro-finance sector Abstract: Fundamental to the smooth operation of any organisation in the financial sector is the need to have its information secured. This research sets out to critically assess information security best practices and information technology (IT) disaster recovery readiness in the Ghanaian micro-finance sector. The criteria used as the basis for assessment are the existence of documented policies, the existence of designated personnel, and the usage of internationally recognised benchmarks for information security best practices. The criteria used for IT disaster recovery readiness were the existence of documented IT disaster recovery plans, evidence of IT disaster recovery plan's implementation, and the existence and evidence of best practices of IT disaster recovery readiness. The research approach was a mixed-method where the data collection, data analysis, and interpretation of the evidence were purposefully done with triangulation. A summarised analysis of the data gathered indicates that a generally poor information security practice exists within the micro-finance industry in Ghana. IT disaster recovery readiness is however relatively better with regular backups being a prominent feature. In view of the foundational theory of protection motivation theory, it is suggested that future research delves into the reason for the observed phenomena. Journal: Int. J. of Business Continuity and Risk Management Pages: 42-61 Issue: 1 Volume: 12 Year: 2022 Keywords: information technology; disaster recovery; micro-finance; Ghana. File-URL: http://www.inderscience.com/link.php?id=121647 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:1:p:42-61 Template-Type: ReDIF-Article 1.0 Author-Name: Ali Asgary Author-X-Name-First: Ali Author-X-Name-Last: Asgary Author-Name: Jiaya Wang Author-X-Name-First: Jiaya Author-X-Name-Last: Wang Author-Name: Sushan Pradhan Author-X-Name-First: Sushan Author-X-Name-Last: Pradhan Title: Dynamic and adaptive resilience of small businesses after the 2015 Nepal earthquake Abstract: This study examines small business' resilience following the 2015 Nepal earthquake using data collected through a questionnaire nearly two years after the earthquake. The findings show that most sampled businesses were not equipped with inherent and built-in resilience because majority of them did not have risk management and business continuity plans. However, findings confirm that most of the sampled businesses resumed operations reasonably quick and were able to fully recover within two years after the disaster demonstrating their high adaptive and dynamic resilience. While significant correlations between the earthquake impacts and the dynamic resilience was not observed, financial factors, particularly business' use of their own savings and family support showed highest correlations with the dynamic resilience and recovery. Findings also reveal that small businesses in a developing country such as Nepal can become more resilient if they are provided with the resources and support to enhance their static and inherent resilience. Journal: Int. J. of Business Continuity and Risk Management Pages: 62-75 Issue: 1 Volume: 12 Year: 2022 Keywords: Nepal earthquake; business resilience; dynamic resilience; business continuity; risk management. File-URL: http://www.inderscience.com/link.php?id=121649 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:1:p:62-75 Template-Type: ReDIF-Article 1.0 Author-Name: Abdullah Ahmed Aldaas Author-X-Name-First: Abdullah Ahmed Author-X-Name-Last: Aldaas Title: Modelling for default risk in companies: evidences from Jordan Abstract: Financial data provides some indication of impending failure and distress in a company. This research is focused on studying default and failures in Jordanian companies based on internal financial information of the firms. The study uses financial ratios of 50 companies from manufacturing and services sector, including 40 running and ten failed companies, for the time period 2015-2017. The methodology includes qualitative analysis, factor analysis and logistic regression to analyse and interpret defaults and failures in selected firms. One of the significant findings of the research is that sales, equity capital and return on equity are good predictors of defaults and distress in companies. Journal: Int. J. of Business Continuity and Risk Management Pages: 76-89 Issue: 1 Volume: 12 Year: 2022 Keywords: firm default; logistic regression; Jordan; failed companies; financial distress. File-URL: http://www.inderscience.com/link.php?id=121650 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:1:p:76-89 Template-Type: ReDIF-Article 1.0 Author-Name: Bruce Masama Author-X-Name-First: Bruce Author-X-Name-Last: Masama Author-Name: Juan-Pierré Bruwer Author-X-Name-First: Juan-Pierré Author-X-Name-Last: Bruwer Author-Name: Leon Gwaka Author-X-Name-First: Leon Author-X-Name-Last: Gwaka Title: The feasibility of implementing the Committee of Sponsoring Organizations of the Treadway Commission enterprise risk management framework in South African small, medium and micro enterprises: a literature review Abstract: Small, medium and micro enterprises (SMMEs) are capable of rejuvenating economies. Unsurprisingly governments, globally, focus on the promotion of SMMEs. South African SMMEs have high failure rates, attributable by the lack of risk management skills. Formal enterprise risk management (ERM) frameworks enhance risk management processes, however South African SMMEs tend to not use any. The COSO ERM framework is a very popular ERM framework; this study aimed to ascertain whether its most recent version is feasible for South African SMMEs to implement. Non-empirical research was conducted as an exploratory literature review, which took on a qualitative research methodology. A total of 405 literature sources were identified and 99 were included and analysed based on predefined inclusion and exclusion criteria. From the research conducted, it appears that the implementation of the most recent COSO ERM framework is feasible for implementation by South African SMMEs, at least in a theoretical dispensation. Journal: Int. J. of Business Continuity and Risk Management Pages: 208-225 Issue: 3 Volume: 12 Year: 2022 Keywords: risk management; small; medium and micro enterprises; SMMEs; enterprise risk management; ERM; ERM frameworks; South Africa; COSO ERM framework. File-URL: http://www.inderscience.com/link.php?id=125288 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:3:p:208-225 Template-Type: ReDIF-Article 1.0 Author-Name: Nazliatul Aniza Abdul Aziz Author-X-Name-First: Nazliatul Aniza Abdul Author-X-Name-Last: Aziz Author-Name: Norlida Abdul Manab Author-X-Name-First: Norlida Abdul Author-X-Name-Last: Manab Title: Emerging risks and business preparedness in the multifaceted risk landscape: evidence from Malaysian publicly listed companies Abstract: The recent outbreak of novel coronavirus (COVID-19) has been recognised as one of the 'black swan' event that poses challenges and global stress. Given the potentially devastating implications of novel coronavirus as a significant emerging risk, many companies have eventually experienced substantial losses that could threaten their survival. Hence, this study adopts triangulation approach to identify the emerging risks that are of greatest concern and commonly used techniques to address such risks among the publicly listed companies in Malaysia. The quantitative findings show that four key areas of emerging risks which are economic risk, environmental, risk, social risk and geopolitical risk are prioritised by the risk managers in their organisation. While, the qualitative findings indicate that strategic planning, key risk indicators (KRIs), business continuity plan and risk maps are commonly used methods to address emerging risks. Theoretically, the findings contribute to an understanding of the emerging risks and the techniques used to better assess the emerging risks present in the multifaceted risk landscape. Journal: Int. J. of Business Continuity and Risk Management Pages: 189-207 Issue: 3 Volume: 12 Year: 2022 Keywords: emerging risks; triangulation; public listed companies; PLCs; multifaceted risk landscape; Malaysia. File-URL: http://www.inderscience.com/link.php?id=125289 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:3:p:189-207 Template-Type: ReDIF-Article 1.0 Author-Name: Bahtiar Mohamad Author-X-Name-First: Bahtiar Author-X-Name-Last: Mohamad Author-Name: Adamu Abbas Adamu Author-X-Name-First: Adamu Abbas Author-X-Name-Last: Adamu Author-Name: Haslina Halim Author-X-Name-First: Haslina Author-X-Name-Last: Halim Title: Antecedents and consequences of internal crisis communication in Malaysian high-risk industry: a framework and agenda for future research Abstract: In crisis management research, internal crisis communication (ICC) has been identified to be a new area of study. In fact, extant literature has indicated a lack of theoretical development on the dimensions of ICC. This paper aims to make provision accordingly for conceptual clarity on ICC in order to unfold its underlying antecedents and consequences from the employees' perspectives in Malaysia high-risk industry through a proposed conceptual framework. Although, it is consolidated that important roles are being played by ICC in strategic management planning as there exists high relevance of managing positive relationship significantly between multiple stakeholders and corporate survival. Following a critical and comprehensive review of multidisciplinary literature using conceptual approach, a model is finally developed. Four antecedents are identified from the outcomes of this study: safety culture, supportive environment, social media perceived usefulness and management commitment. A potential positive relationship is highlighted between ICC, perceived organisational support and affective commitment. Journal: Int. J. of Business Continuity and Risk Management Pages: 226-243 Issue: 3 Volume: 12 Year: 2022 Keywords: internal crisis communication; ICC; safety culture; supportive environment; management commitment; social media perceived usefulness; perceived organisational support: employee's crisis perception; affective commitment; high risk industry; Malaysia. File-URL: http://www.inderscience.com/link.php?id=125290 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:3:p:226-243 Template-Type: ReDIF-Article 1.0 Author-Name: Sankalp Naik Author-X-Name-First: Sankalp Author-X-Name-Last: Naik Author-Name: Ch. V.V.S.N.V. Prasad Author-X-Name-First: Ch. V.V.S.N.V. Author-X-Name-Last: Prasad Title: Risk and risk management: a historical review and research agenda Abstract: This paper aims to compile and improve the current understanding of risk, risk management, risk lexicon, and enterprise risk management (ERM) and summarise theoretical and empirical research regarding the relationship between risk management and firm value by summarising over a hundred publications from the domain of risk understanding, typology of risk, the evolution of risk management and firm performance, and enterprise risk management. This literature review suggests that better risk management should lead to better risk-taking and not just risk reduction and finds strong theoretical and empirical evidence that risk management leads to improved firm valuations and performance while reducing cash flow uncertainty and return volatility. The literature review validates the positive relationship between risk management and firm value. Firms with sound risk management practices experience higher valuations and lower costs of financial distress. Evidence suggests that ERM has significant potential for wealth creation and cost mitigation. Journal: Int. J. of Business Continuity and Risk Management Pages: 244-262 Issue: 3 Volume: 12 Year: 2022 Keywords: risk; risk management; risk lexicon; enterprise risk management; ERM; firm value; COVID-19. File-URL: http://www.inderscience.com/link.php?id=125291 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:3:p:244-262 Template-Type: ReDIF-Article 1.0 Author-Name: Vinod G. Surange Author-X-Name-First: Vinod G. Author-X-Name-Last: Surange Author-Name: Sanjay U. Bokade Author-X-Name-First: Sanjay U. Author-X-Name-Last: Bokade Title: Criticality prioritisation of risk factors in the Indian manufacturing industries using TOPSIS Abstract: This article aims to identify the critical risk factors (CRFs) in the Indian manufacturing sector and prioritise them based on their severity. The article further provides the roadmap for effective risk management. Findings from the articles published in peer-reviewed international journals, coupled with the actual industrial scenario, are presented in this paper. This article applies the technique for order preference by similarity to the ideal solution (TOPSIS), one of the key multi-criteria decision-making (MCDM) techniques. Primary data was obtained by consulting fourteen industry experts (IEs) from reputed industries. CRFs are ranked in the order of their criticality based on the input received. This article presents TOPSIS demonstration using R software. The article uncovers the ten CRFs in the manufacturing sector. The ranking tool, with consideration of six selected criteria, derived 'supplier-related risks' and 'design-related risks', as the foremost risk factors, whereas 'scope change risk' and 'safety-related risk', obtained a lesser rank. Journal: Int. J. of Business Continuity and Risk Management Pages: 263-298 Issue: 3 Volume: 12 Year: 2022 Keywords: manufacturing; critical risk factors; CRFs; TOPSIS; multi-criteria decision making; MCDM; R software. File-URL: http://www.inderscience.com/link.php?id=125292 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:3:p:263-298 Template-Type: ReDIF-Article 1.0 Author-Name: Nixon Muganda Ochara Author-X-Name-First: Nixon Muganda Author-X-Name-Last: Ochara Author-Name: Felix Nyadzani Kutame Author-X-Name-First: Felix Nyadzani Author-X-Name-Last: Kutame Author-Name: Armstrong Kadyamatimba Author-X-Name-First: Armstrong Author-X-Name-Last: Kadyamatimba Title: Adoption of cloud computing in business continuity management for container terminal operations in South Africa Abstract: This study responds to recent calls for improving pre- and post-disaster business continuity by investigating cloud computing adoption factors relevant to the modernisation of port operations. A fit-viability model (FVM) is used as the analytical framework for the study. An interpretive, qualitative methodology, employing the use of a case study of the ports in South Africa was adopted. The interview data collected was analysed thematically and the findings revealed several insights: the first is that a digitalised BCM architecture 'fits' the cloud computing model. Secondly, the cloud computing model is a 'viable' model that can contribute to managing complex and differentiated organisations. For such complex organisations, viability can be realised by harnessing collective intelligence (CI) for more effective BCM. Lastly, to realise digitally enabled BCM and harness the power of CI, there is need for a rethinking of strategy towards the adoption of an 'intelliport strategy' or 'smart' BCM for ports. Journal: Int. J. of Business Continuity and Risk Management Pages: 91-115 Issue: 2 Volume: 12 Year: 2022 Keywords: business continuity; disaster recovery; cloud computing; fourth industrial revolution; business continuity management; BCM; digital transformation; South Africa. File-URL: http://www.inderscience.com/link.php?id=124834 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:2:p:91-115 Template-Type: ReDIF-Article 1.0 Author-Name: Kyong-Jin Park Author-X-Name-First: Kyong-Jin Author-X-Name-Last: Park Author-Name: Bong-Woo Lee Author-X-Name-First: Bong-Woo Author-X-Name-Last: Lee Author-Name: Kyoo-Man Ha Author-X-Name-First: Kyoo-Man Author-X-Name-Last: Ha Title: Examining the transition of natural disaster management for climate change Abstract: Climate change has started to fearfully impact the living organisms on the planet, whether or not it sounds believable. This article aims to study the transitions in climate-related disasters to mitigate the related risks. To this end, qualitative content analysis has been used as the key methodology. The paper cross-examines three periods of climate change (before climate change, the 1st half of climate change, and the 2nd half of climate change) in conjunction with three levels of natural disaster management (international level, national level, and local level). Following this elaboration, the paper suggests three theoretical phases along which disaster management is structured: provincialism-oriented management (1951-1990), patriotism-oriented management (1991-2040), and survivalism-oriented management (2041-2100). While the ignorance of negative climate change is culpable, all stakeholders in the field need to address international cooperation, sustainability, education, and training for survival of the fittest. Journal: Int. J. of Business Continuity and Risk Management Pages: 116-130 Issue: 2 Volume: 12 Year: 2022 Keywords: climate-related disasters; provincialism; patriotism; survivalism; ignorance. File-URL: http://www.inderscience.com/link.php?id=124835 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:2:p:116-130 Template-Type: ReDIF-Article 1.0 Author-Name: Oluwatoyin Esther Akinbowale Author-X-Name-First: Oluwatoyin Esther Author-X-Name-Last: Akinbowale Author-Name: Heinz Eckart Klingelhöfer Author-X-Name-First: Heinz Eckart Author-X-Name-Last: Klingelhöfer Author-Name: Mulatu Fekadu Zerihun Author-X-Name-First: Mulatu Fekadu Author-X-Name-Last: Zerihun Title: Exploring the impact of corporate social responsibility and human resource accounting on a socio-economic environment Abstract: Corporate social responsibility (CSR) and human resource accounting (HRA) are concepts that facilitate an improved socio-economic environment. An active corporate social responsibility can promote the reputation of an organisation alongside with other significant benefits such as improvement in the management of human resources, effective risk mitigation and management measures, robust customer relationship with sound innovations. In respect of the aforementioned, this study seeks to explore some significant impact of corporate social responsibility and human resource accounting on the socio-economic environment. It uses a linear programming approach to expound the relationship that exists between the variables under consideration and to explain the possible outcome of the integration of CSR and HRA in relation to their impact on the socio-economic environment. The study finds that CSR and HRA have common features: cost and assets. HRA strictly recognises the cost of human assets like employee training to meet environmental, technological, and socio-economic current demands. Based on the findings of this study, the integrated view of HRA and CSR is recommended. Depending on the organisation's cost structure, its implementation may help to enhance the socio-economic environment, and to minimise the problem of resource mismanagement in the organisation. Journal: Int. J. of Business Continuity and Risk Management Pages: 131-153 Issue: 2 Volume: 12 Year: 2022 Keywords: corporate social responsibility; CSR; human resource accounting; HRA; linear programming; socio-economic environment; social cost. File-URL: http://www.inderscience.com/link.php?id=124836 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:2:p:131-153 Template-Type: ReDIF-Article 1.0 Author-Name: Rusmawati Binti Ismail Author-X-Name-First: Rusmawati Binti Author-X-Name-Last: Ismail Author-Name: Rohani Bt. Md-Rus Author-X-Name-First: Rohani Bt. Author-X-Name-Last: Md-Rus Author-Name: Kamarun Nisham Taufil Mohd Author-X-Name-First: Kamarun Nisham Taufil Author-X-Name-Last: Mohd Title: The investigation on the impact of downside risk on financial distress Abstract: This study investigates if semi-variance could be used to predict financial distress experienced by companies on Bursa Malaysia. A panel data set of 12,906 firm-year observations from 2004 to 2017 is used. Logistic regression is employed to test the hypothesis that risk could predict the occurrence of financial distress after controlling for leverage, profitability and liquidity. Meanwhile, financial distress is measured by using two approaches: negative shareholders equity and shareholders' equity of less than 25% of issued and paid-up capital. The result indicates that downside risk is positively significant in explaining financial distress under both approaches. The study has significant insights for investors, creditors and other interested parties where they can use semi-variance or downside risk in forecasting financial distress. By employing effective risk assessment techniques firms can avoid financial distress and can attract potential investors for their firms. Journal: Int. J. of Business Continuity and Risk Management Pages: 154-168 Issue: 2 Volume: 12 Year: 2022 Keywords: Bursa Malaysia; downside risk; financial distress; logistic regression; leverage; profitability. File-URL: http://www.inderscience.com/link.php?id=124837 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:2:p:154-168 Template-Type: ReDIF-Article 1.0 Author-Name: Abdollah Shahraki Author-X-Name-First: Abdollah Author-X-Name-Last: Shahraki Author-Name: Mohammad Ghorbani Author-X-Name-First: Mohammad Author-X-Name-Last: Ghorbani Author-Name: Ahmadreza Asgharpour Masouleh Author-X-Name-First: Ahmadreza Asgharpour Author-X-Name-Last: Masouleh Title: Identification and evaluation of risks in supply chain of milk (a case study) Abstract: The purpose of the present research was to identify and analyse the potential risks in the milk supply chain network by using the failure mode, effects and critical analysis approach during 2016 until 2018. The criteria of severity, the probability of occurrence and the severity of the diagnosis were used to assess these risks. The research findings showed that the most important risks belong to sub-systems of ranchers and then milk processing factories. Main risks were prioritised and addressed as there is a need to focus and employ different risk management strategies to improve the performance of the chain. Government policies fluctuations related to producers was determined as the most important negative risks of the whole chain. Potential impacts of main risks have been identified in the form of impact on costs, quality, and production. Seasonal fluctuations in supply and demand, the elimination of production subsidies, the ineffectiveness of the pricing, and the dependence of production on subsidised government were the potential causes of the main risks in the studied chain. Journal: Int. J. of Business Continuity and Risk Management Pages: 169-187 Issue: 2 Volume: 12 Year: 2022 Keywords: milk supply chain; risk management; failure mode; effects and critically analysis; FMECA. File-URL: http://www.inderscience.com/link.php?id=124838 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijbcrm:v:12:y:2022:i:2:p:169-187