Thesis (MBA)--Stellenbosch University, 2004. / Some digitised pages may appear illegible due to the condition of the original hard copy / ENGLISH ABSTRACT: The complexity of modern business requires that all managers be, at least, partially
responsible for strategic risk management. Therefore, all managers must have an
awareness of the business direction of the organisation as a whole; that is, the
corporate and business strategy. Companies embark on this journey to ensure their
future existence. In this regard, having a risk management strategy allows a company
to visualise and aim for its future, because such strategy guides decisions on the
allocation of resources throughout the organisation. The risk management strategy
encapsulates both desired goals and beliefs about what are acceptable and, most
critically, unacceptable means of achieving them.
To achieve the above, the ineptitude of traditional risk management strategy rarely
seems to dictate unique structural solutions. Rather, the crucial factors in the
operational risks processes are most often those of execution and continuous
adaptation; of getting things done, and staying flexible. In addition, and to a very large
extent, this means going far beyond strategy, to issues of organising structure, people,
and the like. Given the historical development arising from the academic and insurance
background and its inefficacy in dealing with the array of risks in the fast changing
business environment, it is therefore important that risk management be embedded in
every aspect of the management structure in an organisation for it to deal holistically
with all risks facing it. The major challenge, however, is how to free risk management from the specialist "silos" of academia and insurance that have hindered its growth since
inception. The approach of this research study is motivated by a desire to address this
challenge. To do so, it employs two scientific research methods, first, to provide basic
knowledge of concepts in view of expanding the existing basic knowledge and
contribute to the literature of risk management at large by describing its evolution into a
modern risk management now known as enterprise risk management, and, second, to
use the applied research method in focusing on the specific problem of knowing how to
translate theoretical aspects of risks management into business solutions within the
context of managing operational risks. This is done by illustration using South African
Airways as a Case Study.
In view of the above, the aim of this research study is to show how practically to
liberate risk management from the clutches of academia and insurance and to give risk
management strategic significance at senior management level and tactical significance
at operational level within the aforementioned modern technique of enterprise risk
management. / AFRIKAANSE OPSOMMING: Die ingewikkeldheid van moderne besigheid vereis dat alle bestuurders ten minste
gedeeltelik vir strategiese risikobestuur verantwoordelik is. Daarom moet alle
bestuurders bewus wees van die besigheidsrigting van die organisasie as geheel; dit is,
die korporatiewe en besigheidstrategie. Maatskappye pak dié reis aan om hul bestaan in
die toekoms te verseker. 'n Risikobestuurstrategie stel 'n maatskappy in staat om die
toekoms te visualiseer en daarheen te mik, want dié strategie lei besluite oor die
toekenning van hulpbronne regdeur die maatskappy. Die risikobestuurstrategie behels
die verlangde doelwitte, en die oortuigings van wat aanvaarbaar en wat, uiters
belangrik, onaanvaarbaar is om die doelwitte te bereik.
Om die bogenoemde te bereik wil dit voorkom of die ongepastheid van tradisionele
risikobestuurstrategieë selde unieke strukturele oplossings voorskryf. Die beslissende
faktore in bedryfsrisiko-prosesse is gewoonlik uitvoering en voortdurende aanpassing;
om dinge te laat gebeur en buigsaam te bly. Daarmee saam, en tot 'n baie groot mate,
beteken dit om verby die strategie te beweeg na aangeleenthede van struktuur, mense
en dies meer. Gegewe die historiese ontwikkeling van die akademiese en
versekeringsagtergrond en die onvermoë om 'n verskeidenheid risiko's in 'n vinnig
veranderende sake-omgewing te hanteer, is dit belangrik dat riskobestuur in elke aspek
van die bestuurstruktuur van 'n organisasie vervat word. Dit sal verseker dat die
organisasie dreigende risiko's holisties benader. Die grootste uitdaging is egter hoe om risikobestuur los te maak van die "spesialissilas" van die akademie en versekering, wat
die groei daarvan sedert sy ontstaan belemmer het. Die benadering van dié
navorsingstudie word gemotiveer deur 'n behoefte om dié uitdaging aan te pak. Om dit
te doen, word twee wetenskaplike navorsingsmetodes gebruik. Eerstens, om basiese
kennis te verskaf oor konsepte om die bestaande basiese kennis uit te brei en by te dra
tot die literatuur van risikobestuur. Dit word gedoen deur die evolusie hiervan tot
moderne risikobestuur, nou bekend as ondernemingsrisikobestuur, te beskryf.
Tweedens, om die toegepaste navorsingsmetode te gebruik om te fokus op die
spesifieke probleem van hoe om teoretiese aspekte van risikobestuur oor te skakel na
besigheidsoplossings in die konteks van die bestuur van bedryfsrisiko's. Dit word gedoen
deur die Suid-Afrikaanse Lugdiens as gevallestudie te gebruik.
In die lig van die bogenoemde, is die doelwit van dié navorsingstudie tweeledig.
Eerstens, om aan te toon hoe om risikobestuur te bevry van die kloue van die akademie
en versekering. Tweedens, om die belangrikheid van strategiese risikobestuur op senior
bestuursvlak en taktiese risikobestuur op bedryfsvlak uit te lig binne die voorgenoemde
moderne tegniek van ondernemingsrisikobestuur.
Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/49831 |
Date | 12 1900 |
Creators | Moeti, Phokoile Daniel |
Contributors | Bester, Ivan, Stellenbosch University. Faculty of Economic & Management Sciences. Graduate School of Business. |
Publisher | Stellenbosch : Stellenbosch University |
Source Sets | South African National ETD Portal |
Language | en_ZA |
Detected Language | English |
Type | Thesis |
Format | 150 p. |
Rights | Stellenbosch University |
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