Even more Hopkins 2015 examines that business are more conscious of the risks

Even more hopkins 2015 examines that business are

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risks in their environment and develop strategies such as a consistent risk managementpolicy. According to the source, this helps to define the risk of the scope as well asdevelop an action plan.5.Brustbauer, J. (2016). Enterprise risk management in SMEs: Towards a structuralmodel.International Small Business Journal,34(1), 70-85.The source focused on a crucial area of business. Often, Small and Medium SizeEnterprises (SME’s) are faced with numerous risks that prevent these businesses fromperforming effectively. The source is keen to highlight some of the risks associated with
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ANNOTATED BIBLIOGRAPHY AND ENTERPRISE RISK MANAGEMENT4SME’s such as financial, strategic, and operational risks that affect the performance of thebusinesses. Similarly, SME’s have developed risk-management policies that ensure thatthese organizations operate effectively in the business environment.6.Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise riskmanagement: Review, critique, and research directions.Long range planning,48(4),265-276.Bromiley & Rustambekov (2015) analyze that it is important for businesses to makeproper decisions towards risk management. The source explores that it is necessary forcompanies to implement strategies and policies that enhance risk management. Besides,the authors examine that it necessary to identify the potential threats to the business thataffect the activities of the organization. Moreover, the source confirms that it isfundamental for companies to develop risk metrics and performance. Notably, the authorsconfirm that this will help the business to develop necessary mechanisms for preventingrisks in the business. The source provides emphasizes that it is necessary for enterprisesto follow the required law and regulations that govern risk management such as insurancepolicies and the Sarbanes-Oxley- Act of 2002.7.Tian, F., & Xu, S. X. (2015). How Do Enterprise Resource Planning Systems AffectFirm Risk? Post-Implementation Impact.Mis Quarterly,39(1).The source provides information on how resource planning helps make a firm risk averse.Even more, companies need to plan for their resources and allocate them appropriately.The author confirms that businesses need to adequately plan on resource allocation which
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ANNOTATED BIBLIOGRAPHY AND ENTERPRISE RISK MANAGEMENT5helps to mitigate risks in the business environment. Apart from that, enterprises areencouraged to use strategic planning that ensure they analyze situations beforechanneling resources to any sector of the business. Tian & Xu (2015) affirms that is vitalfor companies to carry out risk analysis that will help businesses explore various risksaffecting these businesses.
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