![]() ![]() Risk management in German small and medium-sized enterprises. The Academy of Management Journal, 44, 1281–1299.īritzelmaier, B., Häberle, M., & Landwehr, M. The incident command system: High-reliability organizing for complex and volatile task environments. Small and medium enterprises across the globe. Īyyagari, M., Beck, T., & Demirguc-Kunt, A. The value of non-financial information in small-sized enterprise risk management. International Journal of Business and Information Technology, 2, 397–415. Factors influencing risk management decision of small and medium scale enterprises in Ghana. Therefore, this chapter proposes the integration between risk management process and the most relevant key financial early warning indicators used by practitioners and default prediction models. Each SME needs to follow a coherent, logical and integrated process to determine if there are liquidity problems and the stage of the financial distress, thus considering a set of indicators as integrated with the risk analysis concerning the business environment, risk mitigation strategies and responses. Accordingly, it is crucial to develop an RM approach that can adapt to the specific characteristics of SMEs and that considers both financial information and non-financial information as early warning indicators of a crisis. ![]() Most of those companies have no approach or a rudimentary approach to crises, and only a few prevent insolvency or bankruptcy in a timely manner. Over the past few years, the strict interaction between crisis management (CM) and risk management (RM) has become particularly relevant for small and medium enterprises (SMEs), which have experienced severe difficulties in dealing with crises (e.g. Risk is intrinsic to each company, and threats can come unexpectedly. ![]()
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