The Methods of Measurement and Analysis of Risks in Businesses: A Case Study on the Jordan Valley Authority (original) (raw)
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9 Analysis and Measurement of Risks in Business: A Case Study on the Jordan Valley Authority
2016
This research attempted to shed light on the different measures used to evaluate risk. The research examines the Jordan Valley Authority’s risk measurements and explores the different procedures and techniques used to evaluate, or avoid (in some cases) risk. The research found that despite the existence of various quantitative methods to measure risk, the standard methodology used by Jordan Valley Authority is based on experience and intuition. Most managers, in this study relied heavily on the manager’s experience to handle risk. There are two ways to manage risk. The first is to avoid scenarios that could lead to a risky situation, causing the organization to divert from achieving its goals, and the second deals with reducing the effect of danger (or harm) caused by risk.
Analysis and Measurement of Risks in Business: A Case Study on the Jordan Valley Authority
European Journal of Business and Management, 2015
This research attempted to shed light on the different measures used to evaluate risk. The research examines the Jordan Valley Authority's risk measurements and explores the different procedures and techniques used to evaluate, or avoid (in some cases) risk. The research found that despite the existence of various quantitative methods to measure risk, the standard methodology used by Jordan Valley Authority is based on experience and intuition. Most managers, in this study relied heavily on the manager's experience to handle risk. There are two ways to manage risk. The first is to avoid scenarios that could lead to a risky situation, causing the organization to divert from achieving its goals, and the second deals with reducing the effect of danger (or harm) caused by risk.
Managing Entrepreneurial Risks
International Journal of Recent Technology and Engineering (IJRTE), 2019
An attempt to study the role of risk management from the perspective of an entrepreneur is made in this article. The main goal of this article is to identify the main patterns that define the characteristics of risk assessment in business as the main element contributing to the achievement of economic security of the organization. Methods of cognition, retrospective and documentary analysis, as well as synthesis, generalization, and systematization were used in the article. The goal is to study methods for assessing entrepreneurial risks. The object of the study is public relations associated with the formation of the risk management institution at the micro level. Various types of economic risks, methods of risk analysis and assessment, as well as risk mitigation strategies are explored in the article. Various risk management methods are used in the modern economic analysis. The most efficient way to reduce risk in conditions of instability of the economic and political situation i...
Journal of Xi’an Shiyou University, Natural Science Edition , 2024
The study aimed to investigate the impact of entrepreneurial leadership on risk management, and to clarify the modified role of strategic thinking in enhancing the effect of entrepreneurial leadership on organizational risk management in Jordanian commercial banks. The researcher adopted the descriptive-analytical methodology, targeting managers and heads of departments. The researcher used a simple random sampling method with a sample size of (199) managers and heads of departments. Various appropriate statistical methods were used, the study reached several results, including a high level of interest and practice in entrepreneurial leadership and organizational risk management dimensions However, the levels of strategic thinking practice were moderate. The study results indicated a statistically significant impact of entrepreneurial leadership on organizational risk management and a modified impact of strategic thinking in improving the effect of entrepreneurial leadership on organizational risk management. In light of the study results, the researcher proposed several recommendations, including the necessity of enhancing the skills of entrepreneurial leadership, risk management, and strategic thinking in these banks to developing organizational capabilities to confront internal and external risks, enhance predictive abilities, and build scenarios to identify, assess, and address risks, steering them away or minimizing their impact on commercial banks.
Qualitative Paradigm of Risk Management
Advances in economics, business and management research, 2023
Researches on risk management in the context of entrepreneurship have limitations in examining behavioral aspects as a research paradigm. The use of a qualitative research paradigm has relevance in understanding the human perspective on the role of risk management in creating entrepreneurial value and applying ethical values in entrepreneurial actions. The research method used in this study is empirical and theoretical studies in the area of entrepreneurship and risk management. Future research on the relevance of experience based on the act of subjectivity reveals and provides insight into the discussion of risk management, especially from the behavioral side of entrepreneurs. Future research is expected to reveal the relevance of risk management in entrepreneurial activities as well as the limitations of the focus of risk management research that is centered on financial institutions. An understanding of the concept of human behavior in a review from psychology and sociology through a qualitative paradigm provides an overview of improving entrepreneurial outcomes through the implementation of risk management which is motivated by entrepreneurial efficiency. The entrepreneurial risk management research framework is formed to reveal the social construction of business philosophy and risk that is colored by cultures and individual values, along with future research directions focused on the qualitative paradigm of risk management.
Risk Management’s Techniques In Gaza Strip Small Businesses
مجلة الجامعة الإسلامية للدراسات الاقتصادية والإدارية, 2019
Small businesses present new employment opportunities and serve as the building blocks of any community. Risk management and risk management techniques have become a vital and core component for business enterprise. The management of risk is an essential part of any organization. This study aimed to determine the role of risk management variables (Managerial, financial, procedures, legal, political & economic, capacity building and technological risk) in the likelihood of small businesses success. Design/methodology/approach: Descriptive analytical approach was used using a case-control study. Study population was 881 beneficiaries from INGOs and Incubator' grants for small businesses start up and the sample was 300 beneficiaries with 93.4% response rate (280 out of 300). SPSS package version 22 was used in data analysis. Findings: The main results showed that risk management, economic & political risk and technological risk were the determinants of likelihood of small business success after adjustment to confounders, in addition to some of socioeconomic & demographic factors (age category, qualification, grant amount and number of courses received. Before adjustment to confounders, capacity building & innovation, consultation visit, business age, and competition had also an important role in business success. Financial risk and business type had an important trend on likelihood of business success despite absence of significance. Practical implications: Risk management techniques have crucial influence on the likelihood of small business success. Ongoing and periodically monitoring and follow up should be conducted along small business lifespan. Finally, the government should establish a shared data base system to link small business owners and enable stakeholders to obtain and update that information.
Journal of Global Entrepreneurship Research, 2021
Entrepreneurial activities are influenced by a broad range of individual properties. Risk-taking is one of the key attitudes that includes two opposing views that may motivate or hinder people during the initial stages of business activity. Fear of failure (or vice versa, risk acceptance) is considered a momentous factor in entrepreneurship that acts as a deterrent in business success. Introducing the entire range of risks affecting entrepreneurial activities is the main objective of this study. In addition to the presentation of an illustrative argument of various types of entrepreneurship risk, this paper focuses on two special risks relating to the lower and upper limits of entrepreneurship risk range. Additionally, the rate of entrepreneurial activities under such risks has been calculated by applying the conditional probability equation and dataset gathered by Global Entrepreneurship Monitor (GEM) in 2016. By applying this formula on the GEM data of 65 countries, two different types of risk named safe risk (SR) and hazardous risk (HR) have been introduced. Each risk type leads to a business with a specific level of success. The entrepreneurial activities correspond with these two risk types calculated in this paper with the names of safe and hazardous entrepreneurial activity rates. As a result, this categorization indicates that the weakness in some individual factors such as perceived opportunities and capabilities is the main reason leading to business failures. Keywords Risk acceptance. Fear of failure. Conditional probability function. Individual factors. Safe risk (SR). Hazardous risk (HR). Rate of safe entrepreneurial activities. Rate of hazardous entrepreneurial activities * Ebrahim Bonyadi
Risk Management For All Levels Of Business, Underestimated Perspective
ARISTO, 2022
Risk analysis is needed in enterprises and various fields, including military, information technology, financial institutions and investments . So proper learning about risk is needed in various fields, both by implementers and decision makers. Although the risk is a probability science that may occur and may not occur, the uncertainty must still go through an appropriate assessment so that it can be a preparation for all parties involved in the activity. Therefore, a book on risk management was chosen in this review that specifically discusses risk management in medium and small companies. Because not many books discuss risk management in that scope specifically, it is worth discussing to open the insights of small and medium entrepreneurs, as well as academics, that risk management in that scope also needs to be studied in depth. In addition, given that the publisher of this book is the leading publisher (Routledge) in the field of academic books, there is no doubt about the book's quality in general. Therefore, it is hoped that the results of this book review can pave the way for academics and practitioners to further explore and find more about risk management references in the scope of small and medium enterprises.