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Impact of risk management on organizational efficiency

IMPACT OF RISK MANAGEMENT ON ORGANIZATIONAL EFFICIENCY

ABSTRACT

Treatments of risk in the international management literature largely focus on particular uncertainties to the exclusion of other interrelated uncertainties. This paper develops a frame work for categorizing the uncertainties faced by firms operating internationally and outlines both financial and strategic corporate risk management responses.

Managing risk is one of the primary objectives of firms operating internationally and locally [Ghoshal 1987]. Nevertheless, current treatments of risk and uncertainty in the international management literature vary in their use of these terms and tend to look at particular categories of risks to the exclusion of the risks mentioned elsewhere in management literature.

The strategic management field lacks a generally accepted definition of risk. The major uses of the term are in reference to unanticipated variation or negative variation (i.e., “downside risk”) in business outcome variables such as revenues, costs, profit, market share, and so forth. Managers generally associate risk with negative outcomes [March & Shapira 1987]. The concept of risk as performance variance is widely used in finance, economics, and strategic management. With either the variance or negative variation under- standings, “risk” refers to variation in corporate outcomes or performance that cannot be forecast ex ante.

The label “risk” has also commonly been assigned to factors either external or internal to the firm that impact on the risk experienced by the firm. In this sense, “risk” actually refers to a source of risk. Some common examples of risk referring to risk sources are terms such as “political risk” and “competitive risk.” Such terms link unpredictability in firm performance to specific uncertain environmental components.

This research was purposely carried out to appraise the impact of risk management on organization efficiency as its being operated in Nigerian breweries plc, and how risk are identified, measured or evaluated and how they are being handled. The first chapter of the study dealt with the introduction, of research work where emphasis were placed on general introduction of the area of enquiry and statement of problems, objectives of the study, and hypothesis where dealt with within one chapter. In chapter two, review of related literature is dealt with while chapter three was designed to research methodology, research design, population and sample instrumental, data collected and statistical analysis was not left out. The chapter four, data collection through questionnaires were thoroughly analysed and findings were properly presented and for working earlier formulated hypothesis in chapter one was tested. Chapter five was conclusion with major research findings.

TABLE OF CONTENTS

Title Page i
Declaration ii
Approval Page iii
Dedication iv
Acknowledgement v
Abstract vii
Table of Contents viii

CHAPTER ONE
1.0 Introduction 1
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objectives of the Study 3
1.4 Significance of the Study 4
1.5 Research Hypothesis Test 5
1.6 Scope of the Study 6
1.7 Definition of Terms

CHAPTER TWO
LITERATURE REVIEW
2.0 Introduction 8
2.1 Concept of Risk
2.2 Uncertainty and Risk Contracted
2.3 Classification of Risk
2.4 Risk Identification and Analysis
2.5 A Place of Risk Manager in the Company Structure
2.6 Organization of Risk Management
2.7 Problem in Introduction Risk Management
2.8 Security – A Management Responsibility

CHAPTER THREE
Research Methodology
3.0 Introduction
3.1 Research Design
3.2 Population and Sample Size
3.3 Instruments of Data Collection 38
3.4 Data Collection 41
3.5 Statistical Analysis 41

CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.0 Introduction 43
4.1 Data Presentation and Analysis 46
4.2 Data Analysis 50
4.3 Test of Hypothesis
4.4 Research Findings

CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary 53
5.2 Conclusion
5.3 Recommendations 55
5.4 Limitation
References

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