scholarly journals Can Strategic Risk Management Contribute to Enterprise Risk Management? A Strategic Management Perspective

2014 ◽  
Author(s):  
Philip Bromiley ◽  
Devaki Rau ◽  
Michael K. McShane
Keyword(s):  
Risk Management ◽  
Strategic Management ◽  
Enterprise Risk Management ◽  
Strategic Risk ◽  
Enterprise Risk ◽  
Management Perspective ◽  
Strategic Risk Management

Enterprise Risk Management: Re-Conceptualizing the Role of Risk and Trust on Information Sharing in Transnational Alliances

2014 ◽  
Vol 28 (2) ◽  
pp. 257-285 ◽  
Author(s):  
Vicky Arnold ◽  
Tanya S. Benford ◽  
Clark Hampton ◽  
Steve G. Sutton
Keyword(s):  
Risk Management ◽  
Theoretical Model ◽  
Strategic Management ◽  
Information Sharing ◽  
Enterprise Risk Management ◽  
Equation Modeling ◽  
Research Model ◽  
Sensitivity Testing ◽  
Enterprise Risk ◽  
Competing Models

ABSTRACT Globalization places greater emphasis on the development of transnational alliances. The greatest benefits from alliances are derived from high-level information sharing, but vulnerability escalates with information sharing. This study examines risk in transnational alliances based on a theoretical model drawing from enterprise risk management (ERM) as a strategic management effort. This theoretical model posits that ERM strategies focus on business risk as the primary determinant of alliance partner selection and continuity, particularly within global relationships, whereas prior management control research focused on trust. The purpose of this study is to examine the influence of ERM on risk and trust associated with transnational alliances and the resulting impact on interorganizational information sharing. Survey data are gathered from 200 senior-level managers monitoring transnational alliances. Structural equation modeling is used to test the hypothesized relationships. Results provide strong support for the research model, showing that high ERM is associated with decreased risk, increased trust, and enhanced information sharing. Given the ongoing debate over the relationship directionality between trust and risk, we conducted additional sensitivity testing. Competing models focusing on trust as the key control mechanism are tested to assess the strength of our research model. Our risk-oriented research model demonstrates stronger explanatory power than competing models. Overall, our results show ERM substantially alters strategic management of transnational alliances, and has become a major influence on interorganizational risk, trust, and information sharing.

scholarly journals Is This Flight Necessary? The Aviation Use Summary (AUS): A Framework for Strategic, Risk-Informed Aviation Decision Support

Forests ◽  
2021 ◽  
Vol 12 (8) ◽  
pp. 1078
Author(s):  
Crystal S. Stonesifer ◽  
David E. Calkin ◽  
Matthew P. Thompson ◽  
Erin J. Belval
Keyword(s):  
Risk Management ◽  
Decision Support ◽  
Management Practices ◽  
The United States ◽  
Department Of Agriculture ◽  
Strategic Risk ◽  
Risk Management Process ◽  
Management Perspective ◽  
Wildfire Suppression ◽  
Strategic Risk Management

Across the globe, aircraft that apply water and suppressants during active wildfires play key roles in wildfire suppression, and these suppression resources can be highly effective. In the United States, US Department of Agriculture Forest Service (USFS) aircraft account for a substantial portion of firefighting expense and higher fatality rates compared to ground resources. Existing risk management practices that are fundamental to aviation safety (e.g., routinely asking, “Is this flight necessary?”) may not be appropriately scaled from a risk management perspective to ensure that the tactical use of aircraft is in clear alignment with a wildfire’s incident strategy and with broader agency and interagency fire management goals and objectives. To improve strategic risk management of aviation assets in wildfire suppression, we present a framework demonstrating a risk-informed strategic aviation decision support system, the Aviation Use Summary (AUS). This tool utilizes aircraft event tracking data, existing geospatial datasets, and emerging analytics to summarize incident-scale aircraft use and guide decision makers through a strategic risk management process. This information has the potential to enrich the decision space of the decision maker and supports programmatic transparency, enhanced learning, and a broader level of accountability.

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