Segmenting risks in risk managementBorut Jereb
, 2009, original scientific article
Abstract: The paper describes a segmentation of risks to make each risk segment more manageable. The proposed approach is primarily intended to improve the confidentiality of risk simulations. The description of the approach is based on a logistics business process system which requires that its input is represented as a process graph. Each process is defined in terms of input and output; input comprises general input as well as risks; output comprises general output as well as impacts. The model takes into consideration internalas well as external input and output. Parameters can be used to define individual processes. Processes include functions that calculate new values of parameters and output on the bases of given input. Based on given tolerance levels for risks, impacts and process parameters, the model determines whether these levels are acceptable. The model assumes that parameters and functions are non-deterministic, i.e. parameters and functions may change in time. Although the approach is described on a very general level, each segment can be further subdivided into subsegments in order to include more characteristics of observed risks.
Keywords: risk, impact, segmentation, risk management, process parameters, logistics, model, simulation tools, non-deterministic
Published: 05.06.2012; Views: 1313; Downloads: 28
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RISK MANAGEMENT SUPPORT SYSTEMSValeriia Grigoreva
, 2017, master's thesis
Abstract: The topic of this Master’s Thesis is risk management support systems for banking industry. The research was focused on Russian Federation banking system.
Risk management is an important part of bank management. The banking sector is one of the most sensitive ones for currency fluctuation, economical as well as political instability. And it is necessary to be able to forecast future risks and prepare the banks to meet them, as well as to create the most suitable way to treat these risks.
Risk management in banks has changed substantially over the past ten years. In conditions of uncertainty and rapidly changing world banks have to introduce innovative approaches and mechanisms to risk management. Now banks use IT tools and automated systems for managing the risk.
The case study was chosen for empirical part of research. As an example, the largest bank of Russian Federation banking industry – PJSC “Sberbank” was taken. The empirical analysis was conducted with two research hypotheses. The purpose of H1 was to define the stage of use of automated risk management systems in Russia. It was accepted; the Russian banking sector is on early stage of use IT tools. However, the Russian software market is developing rapidly and can be called catching up. The purpose of H2 was to analyze the risk management support systems in the selected bank. The hypothesis was confirmed; the most important functionality of automated risk management system in Sberbank is credit risk management. Credit risk gives the bank "work". Credit operations of commercial banks are one of the most important types of banking activity. In the financial market, lending retains the position of the most lucrative asset line of credit institutions, although the most risky. The loan portfolio of banks averages 50‒70% of assets. Consequently, the credit risk in the structure of banking risk has a decisive influence on the performance of banks. The effectiveness of credit risk management is very important in the management of banking risk.
Keywords: bank, risk, risk management, support system, IT-tools, automated systems, Russia.
Published: 10.07.2017; Views: 455; Downloads: 44
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Factors influencing attitudes towards the use of CRM's analytical tools in organizationsUrban Šebjan
, Samo Bobek
, Polona Tominc
, 2016, original scientific article
Abstract: Background and Purpose: Information solutions for analytical customer relationship management CRM (aCRM IS) that include the use of analytical tools are becoming increasingly important, due organizations’ need for knowledge of their customers and the ability to manage big data. The objective of the research is, therefore, to determine how the organizations’ orientations (process, innovation, and technology) as critical organizational factors affect the attitude towards the use of the analytical tools of aCRM IS.
Design/Methodology/Approach: To measure the orientation of the organization (process, innovation, and technology), we redesigned the existing scale, which was validated using exploratory factor analysis. In the next phase, we created a model by which we examined the impact of the organization’s stance in relation to the use of the analytical tools of aCRM IS, where we used multiple regression analysis. The model was verified on a sample of Slovenian Organizations (n=105), which use the analytical tools of aCRM IS for analyzing the data they have on their customers and business partners.
Results: In the study we found that all critical factors of the organization, specifically process, technology, and innovation orientation, have a positive impact on the attitudes towards using the analytical tools of aCRM IS. Innovation orientation is particularly important and has the strongest influence on the attitude towards using the analytical tools of aCRM IS. We found that innovation orientation on new ideas, methods, and approaches has the strongest effect, followed by the impact of innovation orientation on acceptance of novelty.
Conclusion: The more innovation-, technology-, and process-oriented organizations are, the more positive their attitude towards using the analytical tools of aCRM IS. The study is particularly important for organizations that are introducing an aCRM IS into their business system.
Keywords: critical organizational factors, analytical customer relationship management (aCRM), analytical tools, attitudes towards use of aCRM
Published: 04.04.2017; Views: 427; Downloads: 181
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Understanding management concepts through development of their tool boxMarek Ćwiklicki
, 2016, review article
Abstract: This paper offers an alternative approach to defining the management concept. The proposed methodology relies on the identification of tools supporting the given concept. The author assumed that the identification of tools’ evolution gives clearer insights into circumstances of constant development of—by its nature—a more general concept. The tools’ classification resembles a phylogenic tree and is based on the idea of an affinity diagram. To provide the proof for such reasoning, the total quality management (TQM) concept was chosen. This proposition can be useful for better understanding origins and the development of management thought. It clarifies relationships among methods constituting frameworks of quality management.
Keywords: management concept, evolution, tools, total quality management
Published: 14.11.2017; Views: 404; Downloads: 53
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Providing the success of Six Sigma by proper project identification and selectionDušan Gošnik
, Andrej Bertoncelj
, 2010, original scientific article
Abstract: Results of Six Sigma projects are related to company performance. Successful Six Sigma projects increase customer satisfaction and have many other positive effects on organisations. Success of Six Sigma projects is related to key management decision about how to identify potential projects and which projects to select for final implementation. This research is oriented toward the study of tools used in the phase of Six Sigma project identification and criteria used in the phase of Six Sigma project selection. The purpose of this research is to compare results from manufacturing sector in Slovenia and the UK. Results of this study indicate that management within the organisations tend to identify potential Six Sigma projects with the use of different tools, such as: brainstorming (Slovenia and UK.), followed by Critical To Quality tree (UK.), and interviews and customer visits (Slovenia). Further, the results show that the final decision about Six Sigma projects selection in the UK and Slovenia include different criteria, such as: customer benefit (Slovenia and UK), finance impact (UK) and connection to business strategy (Slovenia). Many companies in the UK as well in Slovenia combine the use of tools and balanced selection criteria at the same time.
Keywords: Six Sigma, tools, criteria, identification, selection, project, management, Slovenia, United Kingdom
Published: 18.01.2018; Views: 330; Downloads: 49
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