Forthcoming and Online First Articles

International Journal of Business Continuity and Risk Management

International Journal of Business Continuity and Risk Management (IJBCRM)

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International Journal of Business Continuity and Risk Management (13 papers in press)

Regular Issues

  • Predicting Enterprise Risk Management Adoption Among Manufacturing Firms in Suzhou, China   Order a copy of this article
    by Shuqian Lu, Ai Ping Teoh 
    Abstract: The main objective of this study was to ascertain the determinants of Enterprise Risk Management (ERM) adoption for manufacturing firms in Suzhou, China. Supported by the agency theory and resource dependence theory, eight determinants of ERM adoption were identified from extant literature and tested in this study. Since ERM adoption was treated as a dichotomous variable, the effect of the eight independent variables on ERM adoption was analysed by using the Binomial Logistic Regression using the SPSS Statistical Software. Secondary data was obtained from the China Stock Database, annual reports and official websites of 108 manufacturing firms in Suzhou, China. This study recognised Chief Risk Officer, Institutional Ownership, Turnover, Size, International Diversification and Profitability as significant predictors whereas Leverage and Cash Ratio shown no impact on ERM adoption. This study provides policy makers with important guidelines on ERM adoption and contributes towards the development of the Chinese manufacturing market.
    Keywords: Enterprise Risk Management; Adoption; China; Manufacturing; Binomial Logistic Regression.

  • Quality function deployment-based framework for the resilient supply chain   Order a copy of this article
    by Ajeet Kumar Yadav, Cherian Samuel 
    Abstract: The concept of the resilient supply chain has appeared to be one of the essential tools to survive, compete and grow during disturbances and uncertainties. During the current pandemic and the Suez Canal blockage, this concept has once again proven its utility. In this research work, we explore the resilient supply chains concept, capabilities, and practices. And also, an attempt is made to quantify the resilient performance of an Indian manufacturing organization. For this research, a quality function deployment integrated with the weighted sum method approach is used. This research brings about new insights into the concept of risk management through the resilient supply chain. Also, it suggests the portfolios of the resilient practices that enable the organizations to be prepared and recover from the major disruptions.
    Keywords: Supply chain risk; Resilient supply chain; COVID-19; House of the resilient supply chain; Resilient practices; Resilient performance.

  • A robust framework on each disaster management issue: A comparative perspective   Order a copy of this article
    by Jang-Oh Kim, Kyong-Jin Park, Kyoo-Man Ha 
    Abstract: Despite the existence of many evaluation techniques in the field of disaster management, no systematic study has evaluated if a robust frame is available on each disaster management issue. This paper compares how the United States, Indonesia, and Korea have used a robust frame on each disaster management issue. The analysis focuses on three comparative factors: stakeholders, resources, and strategies. Qualitative comparative analysis as a methodology plays a role in drawing a similarity and three differences among the U.S. diverse national frames, the Indonesian frequent disaster frames, and the Korean limited regional frames. The study finds that the three nations have similarly tried to address robust frames, but the extent of the three comparative factors has been very different. A robust framework can be transferrable and generalized to apply to every nature of disaster.
    Keywords: emergency management; resources; the U.S.; Indonesia; Korea.

  • A brief review of literature on issues and challenges of business continuity management for Small and Medium-sized Enterprises in developing countries   Order a copy of this article
    by Mbaulo Musumali, Abubaker Qutieshat 
    Abstract: The purpose of this work is to review and critically analyze existing literature on issues and challenges hindering business continuity management from being widely implemented by Small and Medium-sized Enterprises (SMEs) in developing countries. An electronic search was conducted in Google Scholar, Springer, and ScienceDirect databases using selected keywords to identify all papers published in English from 2012 to 2020. Evaluation of fit for review conducted to shortlist appropriate articles to use. The findings of this review established that despite the gradual increase of publications on business continuity in SMEs, there is still inadequate research interest from the body of research evidenced by few researched papers published on this topic. This work also found that SMEs in developing countries were characterized by low implementation of Business Continuity Management due to low prioritization, limitation of resources, knowledge, and capacity. This work is the only identified recent review of literature on Business Continuity Management for SMEs with a wider context covering developing countries in general and conducted within the last nine years.
    Keywords: Business Continuity Management; Small and Medium-sized Enterprises; SMEs; developing countries; Thailand; Sub-Saharan Africa.

  • Evaluating the Human Aspect of Information Technology Service Recovery in the Public Sector   Order a copy of this article
    by Zoraini Ibrahim, Maryati Yusof 
    Abstract: Information Technology (IT) service recovery is part of the operational recovery that needs to be supported by humans in ensuring successful business continuity. Hence, to ensure smooth implementation of the recovery process, the information exchange between the process should be fast and accurate. However, this can be challenging if humans are not responsive, resulting in subsequent delays that affect the decision-making for further action. The implementation of IT service recovery activities in public sector agencies require guidelines for assessing its effectiveness from human aspects. However, reported evaluation measures for IT service recovery from human aspects are incomprehensive and scarce. Therefore, the paper proposed and validated an evaluation model for IT service recovery using a qualitative case study that employed interviews and document analysis. Based on its comprehensive measures, this model can guide management to evaluate the effectiveness of IT service recovery in the public sector from the human aspect.
    Keywords: business continuity; disaster recovery; disaster recovery plan; human; information technology services; service continuity management.

  • PREDICTION OF FINANCIAL DISTRESS IN INDIAN CORPORATE SECTOR: AN IMPROVEMENT OVER ALTMANS Z-SCORE MODEL   Order a copy of this article
    by Gurmeet Singh, Ravi Singla 
    Abstract: Financial distress is the situation when a firm faces difficulty regarding the repayment of its financial obligations on due time which may result into business failure. Prediction of financial distress is necessary because of its negative consequences for company, investors, creditors and also for economy. Earlier prediction of financial distress can be used as warning signal to take corrective actions and to avoid the future bankruptcy. Several models have been developed from time to time to predict the probability of failure and among these models Altmans Z-score model is commonly used in practice as a measure of financial distress. This study aims to re-estimate the widely used Altmans model and an attempt is made to develop an improved model by adding new variables to Altmans model. For this purpose, logistic regression is applied and to validate the accuracy of the developed models two diagnostic tests viz. testing sample and Receiver Operating Characteristic (ROC) curve are used. Results of testing sample showed that Model_2 achieved higher predictive power than Model_1 in all the years from 2011 to 2015. Similar results are also found when accuracy of the model is measured by area under the ROC curve. Area under the curve for Model_1 and Model_2 is found to be 0.965 and .988 respectively. It can be concluded that re-estimated model has better predictive power which can be used to predict financial distress and to avoid future bankruptcy.
    Keywords: Altman’s model; Business failure; Financial distress prediction; Financial ratios; Logistic regression; Receiver Operating Characteristic (ROC) curve.

  • A modelling and management approach to risks in reverse logistics implementation   Order a copy of this article
    by Himanshu Prajapati, Ravi Kant, Ravi Shankar 
    Abstract: This research aims to identify and model the Reverse Logistics (RL) risk variables to estimate the risks associated with their deployment. Furthermore, it suggests risk management techniques to execute the RL implementation effectively. The Delphi technique, Interpretive Structural Modeling (ISM), and Fuzzy Cross-Impact Matrix Multiplication Applied to Classification (F-MICMAC) create a hybrid research framework in this study. Delphi determines the RL risk factors, and ISM creates a structural model to examine the contextual connection between them, followed by F-MICMAC classification. The key risk elements connected with RL implementation include government policy risk (driving power = 13.8 and effectiveness = 13.1) and management policy risk (driving power = 12.2 and effectiveness = 12.1). This research recommends mitigating the critical risk factors for effective RL deployment. Financial and Economic Risk (dependence power = 13.5 and effectiveness = -13.5) is the only risk at the top level of the ISM-F-MICMAC model. It is the ultimately driven variable in the system. Major RL risk management strategies include collaboration with network partners, risk-sharing with stakeholders, strong mutual trust among collaborators, improved forecasting techniques, and continuous information sharing. The current evaluation is extremely beneficial in identifying the driving and dependence power and the efficacy of a certain risk, which helps in segregating them for RL implementation.
    Keywords: Reverse Logistics; Risks; Reverse Supply Chain; Risk Management; Delphi; Interpretive Structural Modeling; Fuzzy Cross-Impact Matrix Multiplication Applied to Classification.

  • A Multi-level Model for the Successful Turnaround of Declining Manufacturing Organizations An Investigative Study   Order a copy of this article
    by Sai Maitreya Ganti Mahapatruni, Meher Sai Saran Bolisetty, Sai Babu Bonthu, Ganesh Seethepalli, P.G. Saleeshya 
    Abstract: Indian Manufacturing organizations are under constant scrutiny. The entry of global supply-chain and manufacturing players made it difficult for Indian manufacturers to establish themselves in the competitive market. This led to the continual decline of firms that were unable to cope with the competition. The decrease in a firms performance further demoralizes owners and stakeholders, forcing them to sell the firm to global players. This study presents a Two leveled model that divides the entire working of a manufacturing firm into 6 Impact areas where firms must focus on improving their performance. The model consists of various reasons for an organizations decline and presents suitable strategies to overcome these reasons. A survey was conducted based on the developments from the model from 5 manufacturing clusters to compare their stand against leading performers and to suggest areas of improvement with the help of the Analytical Hierarchy Process and the Pugh Matrix methodology. The comparison involved a biological method that birds use to differentiate their eggs from a cuckoos egg. This method can be used for performance measurement and suggestions for performance Improvement of any manufacturing firm among the identified clusters.
    Keywords: Supply chain; decline; performance improvement; turnaround; Impact Areas; Analytical Hierarchy Process; Pugh Matrix Methodology; Biological methodology.

  • Carving Strategic Resilience Roadmap for Indian Automotive Industry Using Hybrid Analytical Approach   Order a copy of this article
    by Aditya Gautam, Asif Akhtar, Mrinalini Shah, Umang Soni 
    Abstract: The automotive industry is in its transformation phase. The increasing environmental concerns such as temperature rise, pollution in major cities, and global warming, leading to new emission guidelines (NEG) are the major driving forces. The NEG has not only exposed the industry to challenges but is also ready to offer oceans of opportunities to the industry players. The principle aim of this study is to conceptualize the strategic intent and provide a framework for industry professionals to deal with challenges and threats compensated by industry strength and new opportunities effectively. A systematic hybrid analytical approach combining SWOT analysis, analytical hierarchy process, and external and internal factor evaluation modeling is applied to calculate the score of each environmental factor. Later, the results of the external and internal factor scores are plotted on the SPACE graph. A set of alternative strategic actions has been recommended and prioritized using the QSPM to deal with these challenges effectively.
    Keywords: Business continuity; Bharat Stage – VI; Electric vehicles; External Factor Evaluation (EFE); Internal Factor Evaluation (IFE); Automotive industry; Quantitative Strategic Planning Matrix (QSPM); Strategic Position and Action Evaluation (SPACE); Strategy; Strengths; Weaknesses; Opportunities & Threats (SWOT); Analytical Hierarchy Process (AHP); strategies.

  • TQM and Hospitals Performance: A Bibliometric Analysis   Order a copy of this article
    by Fahmi Natigor Nasution, Erlina Erlina, Yeni Absah, Rujiman Rujiman 
    Abstract: This article aims to use bibliometric analysis to examine existing works and literature on TQM and Performance to explore the concepts evolving journey since its conception. This study applies bibliometric approaches such as citation, co-citation, and co-occurrence of author keywords based on a bibliometric analysis of 137 publications extracted from the Scopus database between 2004 and September 2021. This research examines the kind and direction of research on TQM and hospital performance undertaken over the last few decades. It also identifies the most influential writers, journals, institutions, and countries concerning TQM and hospital performance. This study might provide academics and practitioners with detailed insights into the TQM and hospital performance concepts, which can subsequently be used as a reference for strategic efforts.
    Keywords: TQM; Hospital; Performance; Bibliometric Analysis; Scopus.

  • Assessing the Factors Affecting the Liquidity Risk in Jordanian Commercial Banks: A Panel Data Analysis   Order a copy of this article
    by Nusiebeh Nahar Falah Alrwashdeh, Rizwan Ahmed, Muhammad Hasan Danish, Qasim Shah 
    Abstract: One of the main purpose of banks risk management is to control credit and liquidity risk which are the main sources of risk. This research explores factors affecting liquidity risk of commercial banks operating in Jordan, spanning from 2003 through 2017. The sample of the study includes all commercial banks by employing pooled OLS and panel 2SLS econometric techniques. Findings of the study show that bank size, return on assets (ROA), capital Adequacy Ratio (CAR), risk, non-performing loans (NPL), T-equality and T-liability have a positive impact on liquidity risk. While return on equity (ROE) shows the negative and significant impact on the liquidity risk. This study suggests that authorities should trace and monitor the determined internal factors that have a negative impact on the liquidity of banks to minimize bank run chances.
    Keywords: Liquidity risk; Commercial bank; Jordan; ROA; CAR; Panel data.

  • Founder-entrepreneurs personality characteristics and their influence on risk strategies within High-tech Software SMEs in China   Order a copy of this article
    by Yanzhi Huang, Bidyut Baruah, Tony Ward 
    Abstract: Although the Chinese high-tech market has grown rapidly in recent years, only a limited number of entrepreneurial studies have focused on these areas particularly the significant role of founder-entrepreneurs and the impact of their personality characteristics during their companys development. Now with COVID-19 and its complexity, there are various ongoing challenges for these founder-entrepreneurs something which needs further research. To fill this gap, this study selected 9 successful Chinese high-tech software SMEs with an objective to understand the risk attitude and strategies of their founder-entrepreneurs. And as part of the study, the Chinese Big Five Personality Inventory Brief Version (CBF-PI-B) was chosen. The analysis showed how different personality traits such as Neuroticism, Agreeableness and Openness can have a high impact on founder-entrepreneurs risk attitude, decision making and strategy selection. This paper makes an important contribution to the literature on Chinese SMEs and risk management during COVID-19.
    Keywords: Entrepreneurship; Personality traits; Chinese High-tech market; SMEs; Risk management; Big-5 Personality.

  • Learning from Operational Planning   Order a copy of this article
    by D.C. (Dianka) Zuiderwijk, R. (Riana) Steen, Pedro (P.N.P) Ferreira 
    Abstract: Institutional and regulatory approaches to planning are still primarily based on linearity and predictability and show a trend towards centralized control and prescriptive planning. A second trend recognizes unpredictability in complex operations and focuses on dealing with the changeable nature of work. We refer to this adaptive type of planning as operational planning (OP). In this paper, we argue that a shift towards more control and prescriptive planning can undermine this critical adaptive capability in the completion of complex operations. Triggered by lessons drawn from three different studies, we demonstrate that fostering this adaptive capability in complex operations necessitates a shift in how uncertainty is addressed in institutional and regulatory systems. While exploratory, our findings add to a more complete picture of OP and its relevance to the reliability of complex operations.
    Keywords: complex operations; operational planning; uncertainty; adaptive capability.