Risk and Multifaceted Failures in Business Operations

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (31 March 2022) | Viewed by 31246

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Guest Editor
Institute of Public Affairs, Jagiellonian University, 30-348 Kraków, Poland
Interests: public management; risk management; sustainability; business excellence; auditing; public administration
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Despite the many domestic efforts and international programs that we have witnessed in recent years, there has also been a marked increase in the weaknesses of business operations in different countries. Public program failures, business scandals, corruption, and other obstacles may also occur in the future and limit public and business operations’ effectiveness. Thus, we need to reflect on how to manage risk in a less unpredictable organizational environment. The purpose of this Special Issue is for researchers to analyze problems with risk management in different areas of organizational operations and to propose improvements. Papers that involve different perspectives and organizational problems are welcome.

Prof. UJ dr hab. Zbysław Dobrowolski
Guest Editor

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Keywords

  • Insurance
  • Management
  • Entrepreneurship
  • Public sector
  • Negligence proliferation
  • Risk management

Published Papers (6 papers)

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Research

17 pages, 2101 KiB  
Article
Financial Performance and Working Capital Management Practices in the Retail Sector: Empirical Evidence from South Africa
by Garikai Mandipa and Athenia Bongani Sibindi
Risks 2022, 10(3), 63; https://doi.org/10.3390/risks10030063 - 10 Mar 2022
Cited by 16 | Viewed by 16713
Abstract
This study examines the relationship between the financial performance and working capital management practices of South African retail firms listed on the Johannesburg Stock Exchange. The study sample comprised a panel of 16 South African retail firms for the period 2010–2019. A fixed-effects [...] Read more.
This study examines the relationship between the financial performance and working capital management practices of South African retail firms listed on the Johannesburg Stock Exchange. The study sample comprised a panel of 16 South African retail firms for the period 2010–2019. A fixed-effects estimator was employed in the analysis. The working capital management was proxied by average age of inventory (AAI), average collection period (ACP), average payment period (APP), and cash conversion cycle (CCC), while the financial performance was proxied by net operating profit margin (NOPM), return on assets (ROA), and return on equity (ROE). The key findings of the study documented the following: (1) There is a negative relationship between average collection period and financial performance. (2) A negative relationship between average age of inventory and financial performance measures (NOPM and ROA) was found. (3) The average payment period was found to be negatively related to return on equity. (4) The cash conversion cycle and net operating profit margin variables were found to be negatively related. The study concludes that working capital management practices influenced the financial performance of the South African retail firms. It is recommended that South African retail firms observe prudent optimal working capital management practices, as these influence their financial performance. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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15 pages, 1513 KiB  
Article
Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections
by Piotr Łasak and Sławomir Wyciślak
Risks 2022, 10(2), 33; https://doi.org/10.3390/risks10020033 - 2 Feb 2022
Cited by 2 | Viewed by 2478
Abstract
Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop [...] Read more.
Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework of financial system resilience based on the theoretical approach of complex system theory and its explanation of these systems’ self-adaptation. Our analysis embraces the time since the 2008+ financial crisis in the United States. We argue that the digitalization of financial markets may contribute to the greater safety of the banking sector. We adopted blockchain technology for the pattern of self-modification mechanisms of the financial system. The main findings highlight that the blockchain technology incorporated into the system approach and applied to financial regulation and supervision can significantly improve the safety of the financial markets. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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20 pages, 1615 KiB  
Article
Comparison of National Innovation Systems in the European Union Countries
by Edyta Dworak, Maria Magdalena Grzelak and Elżbieta Roszko-Wójtowicz
Risks 2022, 10(1), 6; https://doi.org/10.3390/risks10010006 - 29 Dec 2021
Cited by 4 | Viewed by 2621
Abstract
The effective operation of national innovation systems can be a source of many opportunities, but it cannot be forgotten that innovation in itself may mean limiting but also generating various types of risks for the functioning of the local market. The main aim [...] Read more.
The effective operation of national innovation systems can be a source of many opportunities, but it cannot be forgotten that innovation in itself may mean limiting but also generating various types of risks for the functioning of the local market. The main aim of the article is to present the concept and classification of national innovation systems in the world and to try to answer whether the type of NIS determines the level of innovation of the economies of the European Union countries. The following research thesis was formulated in the study: the type of National Innovation System determines a certain level of innovation in the economy of an European Union country, i.e., in countries belonging to a developed NIS, the level of innovation of the economy is higher than in countries belonging to developing systems. The results of the analysis confirm the research thesis. In the empirical part, the level of innovation in the European Union countries was assessed using the synthetic measure of development (SMD) by Z. Hellwig. Based on the obtained values of the synthetic measure of development (innovation), a ranking of the innovation of the economies of the EU countries was compiled and groups of countries with a similar degree of innovation in the economy were distinguished. The developed ranking of the European Union countries was compared with the NSI classification presented in the theoretical part of the article. The study covered 2010 and 2019. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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18 pages, 821 KiB  
Article
Indonesian Hotels’ Dynamic Capability under the Risks of COVID-19
by Muhammad Yunus Amar, Alim Syariati, Ridwan Ridwan and Rika Dwi Ayu Parmitasari
Risks 2021, 9(11), 194; https://doi.org/10.3390/risks9110194 - 3 Nov 2021
Cited by 9 | Viewed by 3063
Abstract
The effects of COVID-19 on tourism are irreversible, with potential reductions in income, job losses, shifting working landscapes, and visible health-related fears. These adversities are reinforced in the hospitality business, particularly for hotels, the income streams of which rely on individual movements. This [...] Read more.
The effects of COVID-19 on tourism are irreversible, with potential reductions in income, job losses, shifting working landscapes, and visible health-related fears. These adversities are reinforced in the hospitality business, particularly for hotels, the income streams of which rely on individual movements. This study investigates the process undertaken by the hotel industry in Indonesia to face the current challenges, particularly in terms of the dynamic capabilities possessed by hotel businesses. This construct discusses the potentiality of maximizing existing resources and its impact on innovation norms to leverage hotel dynamics. A total of 329 hotel managers responded to the survey, and the data were finalized by employing PLS-SEM. The findings primarily support the hypothesized direct relationships, but refute the presence of indirect relationships. The results amplify how past investments in sustainable resources are easily deployed assets during COVID-19 and create a welcoming environment for dynamic innovation among hotels during periods of change. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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11 pages, 413 KiB  
Article
The Competency Niche: An Exploratory Study
by Zbysław Dobrowolski, Grzegorz Drozdowski and Józef Ledzianowski
Risks 2021, 9(11), 187; https://doi.org/10.3390/risks9110187 - 21 Oct 2021
Cited by 6 | Viewed by 2889
Abstract
In the era of a turbulent and less-predictable business environment, as confirmed by the COVID-19 pandemic, the ability to efficiently use human resources has become particularly important. There is a need to reduce employees' competency niche, and competency mismatches have become noticeable in [...] Read more.
In the era of a turbulent and less-predictable business environment, as confirmed by the COVID-19 pandemic, the ability to efficiently use human resources has become particularly important. There is a need to reduce employees' competency niche, and competency mismatches have become noticeable in the European Union. We performed qualitative interviews (n = 282) to determine the competency niche of employees from private firms in Poland. Results show that employees were passive in identifying their competence needs. Moreover, firms did not use the weak signals methodology to eliminate the competency niche. This novel study found that firms should be more active in identifying employee competency niches by analyzing early signs to be ready for any changes without delays. The findings create a basis for proposing preventive measures, and we point out avenues for future research. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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22 pages, 2216 KiB  
Article
Influence of Financial Variables on the Development of Rural Communes of Eastern Poland in 2009–2018
by Andrzej Pawlik, Paweł Dziekański and Jarosław W. Przybytniowski
Risks 2021, 9(8), 145; https://doi.org/10.3390/risks9080145 - 12 Aug 2021
Cited by 3 | Viewed by 2101
Abstract
Communes are a place of both economic activity and creation development. They have autonomy in making decisions in the fields of financial, human, and material resources. This research was carried out with the use of a synthetic measure. The aim was to show [...] Read more.
Communes are a place of both economic activity and creation development. They have autonomy in making decisions in the fields of financial, human, and material resources. This research was carried out with the use of a synthetic measure. The aim was to show the impact of financial variables on the development process of rural communes in eastern Poland. The data were collected in spatial terms for 484 rural communes from the region of eastern Poland. The choice of variables was conditioned by the availability of GUS data for the period 2009–2018. The distribution of the evaluation of the development and financial situation of rural communes in eastern Poland was spatially polarized. The reason for the low impact of financial conditions on the development of rural communes in eastern Poland is their dependence on income transferred from the state budget. This stiffens and at the same time stabilizes the financial economy, making it relatively insensitive to the influence of other factors. Low independence can be a significant barrier to future local development. Finance and the economy are intertwined. Actions taken with respect to these must be based on analyses that facilitate making the right decisions. Full article
(This article belongs to the Special Issue Risk and Multifaceted Failures in Business Operations)
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