Exploring risk management strategies in global business environments
by Laurie Turnbull; Abubaker Haddud
International Journal of Risk Assessment and Management (IJRAM), Vol. 21, No. 4, 2018

Abstract: The purpose of this research was to determine if global organisations adopt formal risk management strategies to minimise risks and liabilities associated with international trade, and if a relationship exists between adopting a risk management strategy, and the number of countries global organisations do business with. Adopting effective risk management strategies minimises misunderstandings with customers and suppliers and may strengthen customer relationships by providing knowledge management support in these areas. The primary data was collected from 108 logistics and purchasing professionals using an online survey. The results identified that organisations use formal risk management strategies when dealing with partners in several countries. Thus, it is recommended that organisations develop a formal risk management strategy that includes contracts of sale, appropriate use of Incoterms for containerised shipments, application of cargo insurance and selection of governing body of law to minimise risks and liabilities in international trade. The results from this study provide valuable insights for organisations working in global business markets about how to effectively manage risks.

Online publication date: Mon, 22-Oct-2018

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Risk Assessment and Management (IJRAM):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com