A Novel Multi-Criteria Risk Matrix to Assist in the Strategy Formulation Process: The Case of SMEs
Article dans une revue avec comité de lecture
Date
2021Journal
International Journal of Information Technology & Decision MakingAbstract
Small and medium-sized enterprises (SMEs) are the spine of the European economy and play a key role in adding value in all sectors of the economy. However, due to a lack of methodology and time, SME entrepreneurs struggle to formalize their strategies and too often remain ill-prepared to face today’s potential crises. This paper aims to propose a Risk Management (RM) tool to identify and assess the impact of risks on specific business strategic dimensions. The hypotheses and robustness of the model are tested using Monte Carlo simulation. The analysis shows that a reduced strategic risk matrix (size [Formula: see text]) could provide the same quality of information as a full strategic risk matrix (size [Formula: see text]) in about 80% of the cases, regardless of the weight of each criterion and the values of each risk factor. The results extend the limited use of RM tool in the field of SME Risk Management.
Files in this item
Related items
Showing items related by title, author, creator and subject.
-
Article dans une revue avec comité de lectureGRAEFF, Eliot; AOUSSAT, Améziane; MARANZANA, Nicolas (American Society of Mechanical Engineers, 2021)Biomimetic practice requires a diverse set of knowledge from both biology and engineering. Several researchers have been supporting the integration of biologists within biomimetic design teams in order to meet those ...
-
Article dans une revue avec comité de lectureFAYEMI, Pierre-Emmanuel; WANIECK, Kristina; ZOLLFRANK, C; AOUSSAT, Améziane; MARANZANA, Nicolas (IOP Publishing, 2017)Biomimetics applies principles and strategies abstracted from biological systems to engineering and technological design. With a huge potential for innovation, biomimetics could evolve into a key process in businesses. Yet ...
-
Article dans une revue avec comité de lectureSCHÖFER, Malte; AOUSSAT, Améziane; BERSANO, Giacomo; BUISINE, Stéphanie; MARANZANA, Nicolas (Wiley, 2018)Several reasons for the use of multidisciplinary teams composed of individuals with natural science and engineering background in problem‐solving processes exist. The most important are the integration of science‐based ...
-
Article dans une revue avec comité de lectureLUU, Duc-Nam; GACHET, Hervé; MAIER, Claus-Jürgen; AOUSSAT, Améziane; MARANZANA, Nicolas (Elsevier BV, 2022-06-19)The pharmaceutical sector has the societal duty to make medical healthcare products both available and affordable. But like any human activity, it is not neutral in terms of environmental impact. Therefore, and like any ...
-
Article dans une revue avec comité de lectureEngineering design, as the science framing the practice of design through the elaboration of tools and processes, is constantly evolving towards new innovative strategies. To thrive in their extremely competitive environment, ...