Defining and mapping risk management

Van der Walt, Viljoen (2007-12)

Thesis (MBA (Business Management))--University of Stellenbosch, 2007.

Thesis

ENGLISH ABSTRACT: Risk management is a widely used term meaning different things to people in different economic sectors. To some, it refers to auditing and, to others, it means Occupational Health and Safety (OHS), compliance or any risk management activity dominant in the user’s frame of reference. Risk management probably includes all these associations. Viewing this study field from different angles prevents the visualisation and grasping of the whole. Business schools do not lead the way in overcoming this fragmented study field, as an all-inclusive theory basis and course outline are not yet available. The whole is taken to be the complete answers to a list of very basic questions, namely who must do what, how, when and why, and what then. This introductory study starts with the what question. Risk management activities within a sample of companies from banking to mining and manufacturing were researched. The result is a proposed map of common risk types and sector or industry-unique risks dominant in a specific environment. Three risk management training programmes were evaluated to determine whether or not the basic questions are addressed: the UNISA Advanced Programme in Risk Management, the USB Programme in Risk Management and the Enterprise Risk Management Integrated Framework developed by COSO. These programmes were assessed to determine whether they address the practical risk management questions of who must do what, when and why, and what then. A combination of some of the strong points of the courses is proposed as a starting point for overcoming the theory gap.

AFRIKAANSE OPSOMMING: Risikobestuur is ʼn algemeen gebruikte term wat verskillende dinge vir verskillende gebruikers beteken. Vir party verwys dit na die ouditfunksie, vir ander beteken dit beroepsgesondheid en -veiligheid, wetlike voldoening of enige ander risikobestuursaktiwiteit wat deel van ʼn persoon se verwysingsraamwerk vorm. Risikobestuur sluit waarskynlik al hierdie assosiasies in. Die benadering van die studieveld vanuit verskillende verwysingspunte maak dit egter moeilik om die studieveld as geheel te sien en te begryp. Bestuurskole neem ook nie die leiding om die gefragmenteerde aard van die studieveld te oorkom nie, want ʼn omvattende teoretiese grondslag en raamwerk is nie beskikbaar nie. Die geheel word geag te wees volledige antwoorde op ʼn paar basiese vrae, naamlik wie moet wat, wanneer, hoe en wat daarna doen. Hierdie inleidende studie fokus op die wat vraagstuk. Risikobestuursaktiwiteite in ʼn steekproef van firmas vanuit die bankwese, mynwese en vervaardigingsektor word ondersoek. Die resultaat is ʼn voorgestelde raamwerk van algemene asook omgewingsunieke risikosoorte. Drie risikobestuuropleidingsprogramme, naamlik UNISA se Gevorderde Sertifikaatprogram in Risikobestuur, die USB se Risikobestuursprogram en COSO se Ondernemingswye Risikobestuursprogram, is geëvalueer om te bepaal in watter mate hulle op die praktiese risikobestuursvraagstukke, naamlik wie moet wat, wanneer, hoe en wat daarna moet doen, ingaan. ʼn Kombinasie van die verskillende kursusse se sterkpunte word uiteindelik as beginpunt vir die oorbrugging van die gaping in die teorie voorgehou.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/800
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