Risk Management For All Levels Of Business, Underestimated Perspective

Soetam Rizky Wicaksono* -  Universitas Ma Chung, Indonesia
Abdul Hakim -  Jurusan teknologi pendidikan FIP Universitas Negeri Makasar, Indonesia

DOI : 10.24269/ars.v11i1.5998

Risk analysis is needed in enterprises and various fields, including military, information technology, financial institutions and investments . So proper learning about risk is needed in various fields, both by implementers and decision makers. Although the risk is a probability science that may occur and may not occur, the uncertainty must still go through an appropriate assessment so that it can be a preparation for all parties involved in the activity. Therefore, a book on risk management was chosen in this review that specifically discusses risk management in medium and small companies. Because not many books discuss risk management in that scope specifically, it is worth discussing to open the insights of small and medium entrepreneurs, as well as academics, that risk management in that scope also needs to be studied in depth. In addition, given that the publisher of this book is the leading publisher (Routledge) in the field of academic books, there is no doubt about the book's quality in general. Therefore, it is hoped that the results of this book review can pave the way for academics and practitioners to further explore and find more about risk management references in the scope of small and medium enterprises.


Supplement Files

Risk Management; SME; Risk
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  2. Aven, T. (2010). On how to define, understand and describe risk. Reliability Engineering and System Safety, 95(6), 623–631. https://doi.org/10.1016/j.ress.2010.01.011
  3. Beck, T. (2007). Financing Constraints of SMEs in Developing Countries : Evidence, Determinants and Solutions. Financing Innovation-Oriented Businesses to Promote Entrepreneurship, April, 1–35.
  4. Berard, C., & Teyssier, C. (2017). Risk Management:Lever for SME Development and Stakeholder Value Creation. Wiley. https://search.proquest.com/docview/2135104582?accountid=17242
  5. Covina, C. (2019). Risk Management in Small and Medium Enterprises. In アジア経済. Routledge.
  6. Dankiewicz, R., Ostrowska-Dankiewicz, A., & Bulut, C. (2020). The attitudes of entrepreneurs of the small and medium-sized enterprises sector in Poland to key business risks. Equilibrium. Quarterly Journal of Economics and Economic Policy, 15(3), 511–536. https://doi.org/10.24136/eq.2020.023
  7. De Vincentiis, P., Culasso, F., & Cerrato, S. A. (2019). The Future of Risk Management, Volume II: Vol. II (P. De Vincentiis, F. Culasso, & S. A. Cerrato (eds.)). Springer International Publishing. https://doi.org/10.1007/978-3-030-16526-0
  8. Guo, K. L. (2020). DECIDE: A decision-making model for more effective decision making by health care managers. Health Care Manager, 39(3), 133–141. https://doi.org/10.1097/HCM.0000000000000299
  9. Hudáková, M., & Dvorský, J. (2018). Assessing the risks and their sources in dependence on the rate of implementing the risk management process in the smes. Equilibrium. Quarterly Journal of Economics and Economic Policy, 13(3), 543–567. https://doi.org/10.24136/eq.2018.027
  10. Khairi, A., & Syahwani, I. (2019). The effect of entrepreneurial leadership, organizational culture and information system on the implementation of risk management. Inovasi, 15(2), 232–248. http://journal.feb.unmul.ac.id/index.php/INOVASI
  11. Lund, M. S., Solhaug, B., & Stølen, K. (2011). Model-Driven Risk Analysis. Springer Berlin Heidelberg. https://doi.org/10.1007/978-3-642-12323-8
  12. Rehman, A. U., & Anwar, M. (2019). Mediating role of enterprise risk management practices between business strategy and SME performance. Small Enterprise Research, 26(2), 207–227. https://doi.org/10.1080/13215906.2019.1624385
  13. Schön, E., Radtke, D., & Jordan, C. (2020). Improving Risk Management in a Scaled Agile Environment. In V. Stray, R. Hoda, M. Paasivaara, & P. Kruchten (Eds.), Agile Processes in Software Engineering and Extreme Programming (Vol. 383, pp. 132–141). Springer International Publishing. https://doi.org/10.1007/978-3-030-49392-9_9
  14. van Daelen, M., & Van der Elst, C. (2013). Risk Management and Corporate Governance. In Risk Management and Corporate Governance. https://doi.org/10.4337/9781849807999
  15. Wang, Y. (2016). What are the biggest obstacles to the growth of SMEs in developing countries? – An empirical evidence from an enterprise survey. Borsa Istanbul Review, 16(3), 167–176. https://doi.org/10.1016/j.bir.2016.06.001

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Article Info
Submitted: 2022-10-10
Published: 2022-12-17
Section: Book Review
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