By M Aba-Bulgu
This ebook provides the theoretical historical past to hazard and company main issue administration and gives precious equipment and strategies appropriate to small and medium sized businesses within the occasion of disastrous events reminiscent of hearth, flood, typhoon, and so on. not like the majority of literature on hand during this box, this publication: concentrates on small and medium company organizations; offers a finished method of concern administration related to all facets of industrial operations; adopts a platforms procedure at an organisational and predicament administration degrees; methods catastrophe restoration through picking out ambitions, tools and regulations in the course of a number of levels of the concern administration procedure; and employs generally on hand software program courses. This sequence: presents a world point of view to the examine of commercial, with a distinct emphasis on administration and advertising concerns; and, offers with such themes as globalization, foreign company negotiations, cross-cultural verbal exchange, access ideas, doing enterprise in several areas, and destiny traits. It additionally makes a speciality of the advance of overseas company conception, methodological concerns, the result of empirical reviews and the findings of practitioners.
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Extra resources for Corporate Crisis and Risk Management: Modelling, Strategies and SME Application
Doherty (2000) argues that the classifications of risk can be arbitrary and often have overlaps or gaps, but it is useful to do so for several purposes. First, it helps in conducting a risk survey and where to look for risk so that no stones can be left unturned. This exercise is an essential early step in the risk management process. Second, classification can be useful in designing an organisation structure to manage risk. Different professional skills are needed for dealing with different types of risk.
Fama, 1980), and their implications on capital budgeting decisions, capital structure policy, corporate leasing policy and dividend policy indicate that they are mainly intended to address problems encountered by large companies in making investment and financing decisions during normal business operations. Of late there has been some attempts (Pettit & Singer, 1985; Wijst, 1989; Walker, 1989; Ang, 1991; Keasey & Watson, 1992) made to extend the theories of corporate finance to SMEs. The above introductory discussions highlight the gap that exists both in terms of knowledge and application of crisis management theories and principles to SMEs in Australia or elsewhere and the need for more research in this area.
The crisis types that are relevant to this research belong to two of the seven families of crises as identified by Mitroff and Anagnos (2001): physical (loss of key plants and facilities) and isolated disaster at a firm level. The impact of natural disasters at the macro level will not be addressed in this book. 2 The Nature of Financial Crisis Business organisations might face financial crisis for a number reasons as discussed in the previous section. qxd 8/4/2006 7:52 PM Page 17 Planning for Crisis and Risk Management: A New Approach 17 maximum managerial and financial skills as it generally leads to the deterioration of the value of business organisations and to their collapse in more serious cases.