UPSI Digital Repository (UDRep)
Start | FAQ | About

QR Code Link :

Type :article
Subject :HC Economic History and Conditions
ISSN :2217-8309
Main Author :Gan, Pei-Tha
Additional Authors :Qubtan, Taha Redha Al
Fatimah Salwa Abd. Hadi
Norasibah Abdul Jalil
Norimah Rambeli @ Ramli
Title :Practical risk management approaches among small and medium enterprises
Place of Production :Tanjung Malim
Publisher :Fakulti Pengurusan dan Ekonomi
Year of Publication :2021
Notes :TEM Journal
Corporate Name :Universiti Pendidikan Sultan Idris
HTTP Link :Click to view web link

Abstract : Universiti Pendidikan Sultan Idris
The focus on economic diversification has led to increased support for the establishment and development of SMEs by Omani government in order to contribute in GDP. Risk management has become a major challenge for SMEs in the country due to the lack of experience and knowledge. This research focuses on 'Risk Practical Management Strategies'adopted by SMEs to manage risk. The research is accomplished through a qualitative approach, gathered primary data through interviews and analyzed thematically to establish the trends and patterns in the data. The findings show that there is substantial awareness of the importance of risk management specially in financial and operational which are the key risks faced by businesses, coupled with reputational risk that is associated with the increased use of ecommerce. The RPMS are largely linked to training and developing awareness about risk among SMEs. ? 2021. Taha Redha Al Qubtan et al; published by UIKTEN. This work is licensed under the Creative Commons Attribution?NonCommercial?NoDerivs 4.0 License.

References

Al Badi, O., & Khan, F. R. (2020). Examining challenging factors of tourism entrepreneurship in oman using PLS-SEM. International Journal of Research in Entrepreneurship & Business Studies, 1(1), 48-64. Retrieved from www.scopus.com

Alharbi, B. F., & Al-Ashaab, A. (2020). The influential factors of business development among SMEs in the food industry of the GCC region. Journal of Business and Retail Management Research, 14(2) Retrieved from www.scopus.com

Al-Lawati, E. H. (2017). Exploration of entrepreneurial marketing orientation model among SMEs in oman. International Journal of Economics & Management Sciences, 6(3), 1-6. Retrieved from www.scopus.com

Alraja, M. N., Khan, S. F., Khashab, B., & Aldaas, R. (2020). Does facebook commerce enhance SMEs performance? A structural equation analysis of omani SMEs. SAGE Open, 10(1) doi:10.1177/2158244019900186

Ates, A., Garengo, P., Cocca, P., & Bititci, U. (2013). The development of SME managerial practice for effective performance management. Journal of Small Business and Enterprise Development, 20(1), 28-54. doi:10.1108/14626001311298402

Baloyi, T., & Ozumba, A. (2020). Strategic risk management among small enterprises in the construction industry. MATEC Web of Conferences, 312, 02013. Retrieved from www.scopus.com

Bamata, H., Govender, K. K., & Fields, Z. (2019). An empirical study of optimal access to external finance by small and medium enterprise start-ups. Problems and Perspectives in Management, 17(3), 242-258. doi:10.21511/ppm.17(3).2019.20

Borkovskaya, V., Degaev, E., & Burkova, I. (2018). Environmental economic model of risk management and costs in the framework of the quality management system. Paper presented at the MATEC Web of Conferences, , 193 doi:10.1051/matecconf/201819305027 Retrieved from www.scopus.com

Dominguez, N. (2018). Promotion agencies and SMEs’ internationalization process: A blessing or a curse? [Agences de promotion et processus internationalisation des PME: bénédiction ou malédiction?] Journal of International Entrepreneurship, 16(1), 58-81. doi:10.1007/s10843-017-0219-y

Ferreira de Araújo Lima, P., Crema, M., & Verbano, C. (2020). Risk management in SMEs: A systematic literature review and future directions. European Management Journal, 38(1), 78-94. doi:10.1016/j.emj.2019.06.005

Gamble, J. R., Clinton, E., & Díaz-Moriana, V. (2021). Broadening the business model construct: Exploring how family-owned SMEs co-create value with external stakeholders. Journal of Business Research, 130, 646-657. doi:10.1016/j.jbusres.2020.03.034

Havierniková, K., & Kordoš, M. (2019). Selected risks perceived by SMEs related to sustainable entrepreneurship in case of engagement into cluster cooperation. Entrepreneurship and Sustainability Issues, 6(4), 1680-1693. doi:10.9770/jesi.2019.6.4(9)

Kabir, G., Sadiq, R., & Tesfamariam, S. (2014). A review of multi-criteria decision-making methods for infrastructure management. Structure and Infrastructure Engineering, 10(9), 1176-1210. doi:10.1080/15732479.2013.795978

Karaoulanis, A. (2017). Financial impediments in risk management mechanisms of greek small and medium enterprises. International Journal of Management & Information Technology, 12(1), 3128-3152. Retrieved from www.scopus.com

Korshikova, M. V., Belikova, I. P., Sakhnyuk, T. I., Sakhnyuk, P. A., & Svistunova, I. G. (2016). Methodological provision of active management of economic risk in agrarian business. European Research Studies Journal, 19(2 Special Issue), 113-124. Retrieved from www.scopus.com

Kotaskova, A., Lazanyi, K., Amoah, J., & Belas, J. (2020). Financial risk management in the V4 countries’ SMEs segment. Investment Management and Financial Innovations, 17(4), 228-240. doi:10.21511/imfi.17(4).2020.21

Kranke, M., & Yarrow, D. (2019). The global governance of systemic risk: How measurement practices tame macroprudential politics. New Political Economy, 24(6), 816-832. doi:10.1080/13563467.2018.1545754

Ladeira, W. J., Nardi, V. A. M., Santini, F. D. O., & Jardim, W. C. (2019). Factors influencing visual attention: A meta-analysis. Journal of Marketing Management, 35(17-18), 1710-1740. doi:10.1080/0267257X.2019.1662826

Naude, M. J., & Chiweshe, N. (2017). A proposed operational risk management framework for small and medium enterprises. South African Journal of Economic and Management Sciences, 20(1) doi:10.4102/sajems.v20i1.1621

Nosheen, S., Khan, T. M., & Rehman, F. U. (2020). SMEs exports are influenced by different risk factors: Empirical study of emerging economy. Journal of Accounting and Finance in Emerging Economies, 6(1), 201-218. Retrieved from www.scopus.com

Olaitan, O., & Flowerday, S. (2017). Critical success factors in introducing performance measurement metrics for small and medium-sized enterprises (SMEs). International Journal of Education Economics and Development, 8(2-3), 144-161. doi:10.1504/IJEED.2017.086501

Ormazabal, M., Prieto-Sandoval, V., Puga-Leal, R., & Jaca, C. (2018). Circular economy in spanish SMEs: Challenges and opportunities. Journal of Cleaner Production, 185, 157-167. doi:10.1016/j.jclepro.2018.03.031

Ramachandran, N., & Yahmadi, H. M. A. A. (2019). Challenges faced by SMEs in oman. Shanlax International Journal of Arts, Science and Humanities, 7(1), 15-25. Retrieved from www.scopus.com

Rehman, A. U., & Anwar, M. (2019). Mediating role of enterprise risk management practices between business strategy and SME performance. Small Enterprise Research, 26(2), 207-227. doi:10.1080/13215906.2019.1624385

Torabi, S. A., Giahi, R., & Sahebjamnia, N. (2016). An enhanced risk assessment framework for business continuity management systems. Safety Science, 89, 201-218. doi:10.1016/j.ssci.2016.06.015

van Dun, D. H., Hicks, J. N., & Wilderom, C. P. M. (2017). Values and behaviors of effective lean managers: Mixed-methods exploratory research. European Management Journal, 35(2), 174-186. doi:10.1016/j.emj.2016.05.001

Virglerová, Z., Homolka, L., Smrčka, L., Lazányi, K., & Klieštik, T. (2017). Key determinants of the quality of business environment of smes in the czech republic. E a M: Ekonomie a Management, 20(2), 87-101. doi:10.15240/tul/001/2017-2-007

Yang, S., Ishtiaq, M., & Anwar, M. (2018). Enterprise risk management practices and firm performance, the mediating role of competitive advantage and the moderating role of financial literacy. Journal of Risk and Financial Management, 11(3) Retrieved from www.scopus.com


This material may be protected under Copyright Act which governs the making of photocopies or reproductions of copyrighted materials.
You may use the digitized material for private study, scholarship, or research.

Back to previous page

Installed and configured by Bahagian Automasi, Perpustakaan Tuanku Bainun, Universiti Pendidikan Sultan Idris
If you have enquiries, kindly contact us at pustakasys@upsi.edu.my or 016-3630263. Office hours only.