Integrating Risk Management Into Decision Making

Florin Boghean

doi:10.18662/lumproc/ncoe4.0.2019/10

Florin Boghean University Stefan cel Mare ,Suceava, Romania

DOI: https://doi.org/10.18662/lumproc/ncoe4.0.2019/10

Keywords: risk management, corporate governance, decision-making process

Abstract

The main forms of risk are can be grouped in eight categories: economical risks, financial risks, commercial risks, manufacturing risks, political risks, social risks, juridical risks, natural risks. Through its nature the decision is referring to the future, mainly being provisional. In any decisional process developed at the company level, there are involved in the same time some economical, techniques, juridical, human and managerial variables. As a consequence of the decision (generally) and of managerial decision (particularly), because of its complexity and its contextual deter in its growth there are associated many risks.

References

[1] Boghean F. Managementul riscului proceselor decizionale in contextul unei guvernante corporative eficiente. Bucuresti: Editura ProUniveristaria; 2019.
[2] Grable J, Roszkowski M, Joo S, O'Neill B, Lytton R. A test of the relationship between self classified financial risk-tolerance and investment risk-taking behaviour, International Journal of Risk Assessment and Management. 2009; 12 (2-4): 396 – 419.
[3] Evans JSBT. Intuition and Reasoning: a Dual-Process Perspective, “Psychological Inquiry”; 2010, No. 21.
[4] Păunescu M. Guvernanța corporativă, managementul riscului și controlul intern, Editura Cecccar, București; 2019.
[5] Heather M, Wegner DM, Gray K. Dimensions of mind perception, Science 2007, 315 (5812): 619.
[6] Lesage C, Wechtler H. An Inductive Typology of Auditing Research, Contemporary Accounting Research; 2010, 29(2).
[7] Raz T, Shenhar A, Dvir D. 2Risk management, project success, and technological uncertainty, R & D Management 2002, 32 (2): 101-109.
[8] Sheffi Y. The Resilient Enterprise: overcoming vulnerability for competitive advantage. Cambridge, MA: MIT Press; 2005.
[9] Shi Y. Today’s Solution and Tomorrow’s Problem: the business process outsourcing risk management puzzle, California Management Review; 2007.
[10] Zwikael O, Sadeh A. Planning effort as an effective risk management tool, Journal of Operations Management. 2007, 25 (4) (June): 755-767.
[11] ACCA. Governance, risk and ethics – study text, Kaplan Publishing; 2017.
[12] Zsidisin GA, Smith ME. Managing Supply Risk with Early Supplier Involvement: A Case Study and Research Propositions, The Journal of Supply Chain Management; 2005, 41 (4): 44-57.
[13] Talluri S, Narasimhan R, Nair A. Vendor performance with supply risk: A chance-constrained DEA approach, International Journal of Production Economics; 2006, 100 (2) (April): 212-222.
[14] Knemeyer AM, Zinn W, Eroglu C. Proactive planning for catastrophic events in supply chains, Journal of Operations Management; 2009, 27 (2) (April): 141- 153.
[15] Gray JV, Roth AV, Leiblein MJ. Quality risk in offshore manufacturing: Evidence from the pharmaceutical industry, Journal of Operations Management; 2011, 29 (7-8) (November): 737-752.
[16] Zwikael O, Sadeh A. Planning effort as an effective risk management tool, Journal of Operations Management; 2007, 25 (4) (June): 755-767.
[17] Lowenstein R. When Genius Failed: The rise and fall of long-term capital management, Random House; 2000.
[18] Patterson S. The Quants: How a new breed of math whizzes conquered Wall Street and nearly destroyed it, Crown Business; 2011.
[19] Lewis M. The Big Short: Inside the doomsday machine, New York, NY: W. W. Norton & Company, Inc.; 2010.
[20] Zuckerman, G Greatest Trade Ever: The behind-the-scenes story of how John Paulson defied Wall Street and made financial history, New York, NY: Random House; 2009.
[21] Keeney RL, Raiffa H. Decisions with Multiple Objectives: Preferences and Value Tradeoffs, New York, NY: Wiley; 1976.