Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival
The importance of sustainability risk management (SRM) in managing emerging risks and other non-quantifiable risks has recently been the subject in many discussions. The debate focuses on the flaws of the risk management programme, which excluded sustainability risk in the risk assessment. Thus, thi...
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| Format: | Article |
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Inderscience Enterprises Ltd.
2020
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| _version_ | 1803629344874037248 |
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| author | Abdul Manab, Norlida Abdul Aziz, Nazliatul Aniza Md. Jadi, Diara |
| author_facet | Abdul Manab, Norlida Abdul Aziz, Nazliatul Aniza Md. Jadi, Diara |
| author_sort | Abdul Manab, Norlida |
| collection | UUM |
| description | The importance of sustainability risk management (SRM) in managing emerging risks and other non-quantifiable risks has recently been the subject in many discussions. The debate focuses on the flaws of the risk management programme, which excluded sustainability risk in the risk assessment. Thus, this study attempts to develop an SRM framework for company survival by adopting the triangulation approach which integrates both quantitative and qualitative methods to identify the key components of an SRM framework. A total of 88 respondents from public listed companies participated in the survey and four companies were interviewed. The findings highlight that stakeholders' expectations, board and senior management risk oversights, resources and capabilities, risk assessments and methods, and risk reporting are the key factors in developing an SRM framework. As a general conclusion, this study develops a generic SRM framework which is applicable to all types of companies, irrespective of its size or business type. |
| first_indexed | 2024-07-04T06:36:22Z |
| format | Article |
| id | uum-27799 |
| institution | Universiti Utara Malaysia |
| last_indexed | 2024-07-04T06:36:22Z |
| publishDate | 2020 |
| publisher | Inderscience Enterprises Ltd. |
| record_format | dspace |
| spelling | uum-277992020-10-27T01:18:34Z https://repo.uum.edu.my/id/eprint/27799/ Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival Abdul Manab, Norlida Abdul Aziz, Nazliatul Aniza Md. Jadi, Diara HD61 Risk Management The importance of sustainability risk management (SRM) in managing emerging risks and other non-quantifiable risks has recently been the subject in many discussions. The debate focuses on the flaws of the risk management programme, which excluded sustainability risk in the risk assessment. Thus, this study attempts to develop an SRM framework for company survival by adopting the triangulation approach which integrates both quantitative and qualitative methods to identify the key components of an SRM framework. A total of 88 respondents from public listed companies participated in the survey and four companies were interviewed. The findings highlight that stakeholders' expectations, board and senior management risk oversights, resources and capabilities, risk assessments and methods, and risk reporting are the key factors in developing an SRM framework. As a general conclusion, this study develops a generic SRM framework which is applicable to all types of companies, irrespective of its size or business type. Inderscience Enterprises Ltd. 2020 Article PeerReviewed Abdul Manab, Norlida and Abdul Aziz, Nazliatul Aniza and Md. Jadi, Diara (2020) Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival. World Review of Science, Technology and Sustainable Development, 16 (2). p. 87. ISSN 1741-2242 http://doi.org/10.1504/WRSTSD.2020.109678 doi:10.1504/WRSTSD.2020.109678 doi:10.1504/WRSTSD.2020.109678 |
| spellingShingle | HD61 Risk Management Abdul Manab, Norlida Abdul Aziz, Nazliatul Aniza Md. Jadi, Diara Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title | Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title_full | Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title_fullStr | Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title_full_unstemmed | Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title_short | Sustainability risk management: an integrative framework to evaluate emerging risks and other non-quantifiable risks affecting company survival |
| title_sort | sustainability risk management an integrative framework to evaluate emerging risks and other non quantifiable risks affecting company survival |
| topic | HD61 Risk Management |
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