Integrating risk management into strategic planning in SMEs

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

Abstract

Current trends in risk management emphasize approaches where all risks related to the business operations are viewed as one entity and the couplings between different risks are understood. Small and medium-sized enterprises (SMEs) would benefit from approaches that would integrate risk management into other management processes e.g. strategic planning, quality or operational management. This paper presents the findings from a literature review and the results of studying the risk management process at five Finnish SMEs. The paper discusses the main motivating factors and management objectives for risk management in SMEs. Conclusions on how risk management should be integrated into the management and leadership of SMEs are drawn.
Original languageEnglish
Title of host publicationReliability, Risk and Safety
Subtitle of host publicationTheory and Applications
EditorsRadim Bris, Carlos Guedes Soares, Sebastián Martorell
PublisherCRC Press
Pages401-406
Volume1
ISBN (Electronic)978-0-429-20650-4 , 0-203-85975-0
ISBN (Print)978-0-415-55509-8
DOIs
Publication statusPublished - 2009
MoE publication typeA4 Article in a conference publication
EventEuropean Safety and Reliability Conference, ESREL 2009 - Prague, Czech Republic
Duration: 7 Sep 200910 Sep 2009

Conference

ConferenceEuropean Safety and Reliability Conference, ESREL 2009
CountryCzech Republic
CityPrague
Period7/09/0910/09/09

Fingerprint

Risk management
Small and medium-sized enterprises
Strategic planning
Management process
Integrated
Factors
Literature review

Keywords

  • risk management
  • strategic planning
  • management frameworks
  • SMEs

Cite this

Kupi, E., Keränen, J., Mikkola, M., & Uusitalo, T. (2009). Integrating risk management into strategic planning in SMEs. In R. Bris, C. Guedes Soares, & S. Martorell (Eds.), Reliability, Risk and Safety: Theory and Applications (Vol. 1, pp. 401-406). CRC Press. https://doi.org/10.1201/9780203859759
Kupi, Eija ; Keränen, Jaana ; Mikkola, Markku ; Uusitalo, Teuvo. / Integrating risk management into strategic planning in SMEs. Reliability, Risk and Safety: Theory and Applications. editor / Radim Bris ; Carlos Guedes Soares ; Sebastián Martorell. Vol. 1 CRC Press, 2009. pp. 401-406
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Kupi, E, Keränen, J, Mikkola, M & Uusitalo, T 2009, Integrating risk management into strategic planning in SMEs. in R Bris, C Guedes Soares & S Martorell (eds), Reliability, Risk and Safety: Theory and Applications. vol. 1, CRC Press, pp. 401-406, European Safety and Reliability Conference, ESREL 2009, Prague, Czech Republic, 7/09/09. https://doi.org/10.1201/9780203859759

Integrating risk management into strategic planning in SMEs. / Kupi, Eija; Keränen, Jaana; Mikkola, Markku; Uusitalo, Teuvo.

Reliability, Risk and Safety: Theory and Applications. ed. / Radim Bris; Carlos Guedes Soares; Sebastián Martorell. Vol. 1 CRC Press, 2009. p. 401-406.

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

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Kupi E, Keränen J, Mikkola M, Uusitalo T. Integrating risk management into strategic planning in SMEs. In Bris R, Guedes Soares C, Martorell S, editors, Reliability, Risk and Safety: Theory and Applications. Vol. 1. CRC Press. 2009. p. 401-406 https://doi.org/10.1201/9780203859759