International Journal of Business Continuity and Risk Management (9 papers in press)

Regular Issues

• Carving Strategic Resilience Roadmap for Indian Automotive Industry Using Hybrid Analytical Approach  
  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.
  DOI: 10.1504/IJBCRM.2023.10055388
   
  
• Founder-entrepreneurs personality characteristics and their influence on risk strategies within High-tech Software SMEs in China  
  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  
  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.
  
  
• Fuzzy expert system and information systems auditing: an approach for risk assessment in audit pre-planning.  
  by Ismail OUAADI, Mohammed EL HADDAD 
  Abstract: The complexity of control and auditing framework deployment, and the uncertainty surrounding the risk assessment in the pre-auditing phase, require from us to find an efficient solution for the auditing mission. While Fuzzy logic has shown good results in various fields and especially in auditing (fraud, IT, security...), we attempt to combine it with experts knowledge method for risk assessment. This work aims to develop a solution that can resolve this complexity and uncertainty via a fuzzy expert system. By using python frameworks and a web-based approach the proposed solution was developed. The DeLone and McLean IS success measurement is used to assess the usability and acceptance of the developed solution by auditors and experts.
  Keywords: Fuzzy Logic System; Information System Governance; Auditing; Risk Assessment Approach; IS Success Model.
  
  
• Value relevance of Enterprise Risk Management (ERM): the Indian case  
  by Sankalp Naik, Dhruv Jauhar, Ch V. V. S. N. V. Prasad 
  Abstract: Even before the COVID-19 pandemic, the global financial crisis (GFC) of 2008-10 had already precipitated the need for a highly agile and holistic approach to managing firm risks. The ever-increasing complexities of risks have bolstered enterprise risk management (ERM)s relevance in academic and practitioner circles. Against the backdrop of the myriads of banking frauds and accounting scandals, Indian regulators and other stakeholders took notice of ERM, especially ERMs potential to improve corporate governance and protect and augment firm value. Consequently, several firms began implementing ERM in India. In this paper, we attempt to assess the role of ERM in value creation. We focus on companies listed on the Indian stock exchange. To the best of our knowledge, ours is the first empirical study with a cross-sectional analysis for India and is among the very few ERM studies conducted for a developing country. Our analysis confirms the positive influence of the extent of ERM engagement on firm value. Among control variables, firm size had a negative impact on firm value, while financial leverage and profitability positively influenced firm value. This paper makes a strong case for ERM as an essential arm of a firms corporate governance structure and confirms its role as a wealth protector and creator in a developing country setting.
  Keywords: Enterprise risk management; ERM Index; chief risk officer; firm value; ERM engagement; CoVID-19.
  
  
• Managing Organizational Effectiveness during a Pandemic: A Conceptual Framework  
  by Aastha Dhoopar, Priyanka Sihag 
  Abstract: The unprecedented outburst of the destructive coronavirus has wretched the whole world lately. The current paper discusses the influence of the coronavirus outbreak on organisations, the strategies that can be employed, and the active role of organisational leaders to support the employees and the organisations in such difficult times. This paper integrates the concepts from organisational behaviour, strategic human resource management, and crisis management and proposes a conceptual framework emphasising the role of human resources in managing the effectiveness of organisations. Business continuity management and scenario planning are two significant strategies that can be useful for organisations to sail through unfavourable times. The study brings to light the interventions on part of the organisational leadership and the HR managers to support the employees and the organisations alike. The study also stresses on the pandemic as an opportunity to innovate and attain competitive advantages over other organisations.
  Keywords: organisational effectiveness; crisis management; leadership; coronavirus; COVID-19.
  DOI: 10.1504/IJBCRM.2023.10051485
   
  
• Graphical process safety techniques for strengthening safety and resilience in Austrian SMEs  
  by Alexander Stolar, Anton Friedl 
  Abstract: In most countries, small and medium-sized enterprises are the backbone of economic performance. While progress and innovation are born in these companies, process safety often takes a back seat due to a lack of risk awareness, resources or experience. Risk assessments using process safety techniques are typically considered too complicated, time-consuming, or expensive. While large companies employ their own staff for this purpose, SMEs get along with the protective measures required by law. The paper aims to select techniques from industrial practice in order to provide SMEs with a path to a more safe future. In addition to a literature study on process safety techniques, their applicability is evaluated with a survey in SMEs using graphical process safety techniques. The study showed a high level of agreement among the participants on the proposed techniques and examples. More public awareness work regarding useful process safety techniques would be a future task.
  Keywords: process safety techniques; SMEs; resilience engineering; process safety management.
  DOI: 10.1504/IJBCRM.2023.10052808
   
  
• Organizational Safeguarding; A New Imperative for Management?  
  by Vitumbiko Andrew Ngwira, Abubaker Qutieshat 
  Abstract: Safeguarding is increasingly becoming a buzzword in organisational management. This has come up due to the rising cases of workplace bullying, emotional abuse, and harassment. While many humanitarian organisations have embraced the concept, safeguarding is having a snail’s pace in penetrating the management field. Understanding the lapses in organisational safeguarding is crucial to creating a safe work environment for employees and customers or beneficiaries. This conceptual paper looks at safeguarding and its growing need in business management. This study examines safeguarding not only from the perspective of children and vulnerable individuals but also employees. The discussion draws insights from various literatures on workplace safety and harassment. The discussion has implications for how organisations can implement policies that not only deter harassment but advance workplace safety. The study also confirms that organisational safeguarding has a significant slot within the broader business management field.
  Keywords: safeguarding; business management; abuse; workplace bullying; employee safety.
  DOI: 10.1504/IJBCRM.2023.10053186
   
  
• Exploring Distress Awareness and Monitoring for Decision Making in Small Ventures  
  by Andrew Marshall, Marius Pretorius 
  Abstract: Ventures frequently suffer setbacks leading to decline. If the distress is detected early, corrective actions may be taken to arrest the situation early. However, action depends on management awareness and potential monitoring of distress signals. It stands to reason that a problem may only be solved if there is awareness of it. This study set out to explore and understand the decision makers' awareness of potential distress causes and states, how they monitor it and their potential responses, if any. Data was collected with semi-structured interviews with venture decision-makers. The findings direct towards subjects claiming a high awareness of the health of their ventures (which may include a potential distressed state). They claim to actively monitor both financial and non-financial factors, often referred to as flags or tell-tale signs. Subjects also expressed their urgent intention to address problems once they become aware of them. The study, however, confirmed low awareness and knowledge of distress.
  Keywords: venture distress; business turnaround; business rescue; distress; managerial awareness.
  DOI: 10.1504/IJBCRM.2023.10056430