Critical success factors for dynamic enterprise risk management in responsive organisations : a factor analysis approach
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Date
Authors
Didi-Quvane, Brenda
Smuts, Hanlie
Matthee, Machdel C.
Journal Title
Journal ISSN
Volume Title
Publisher
Springer
Abstract
Globalisation and technology advancements have disrupted the organisational landscape and with the proliferation of new technology; risk management is fundamental to transforming the business especially considering the dynamic nature of the digital society organisations now exist in. However, the challenge faced by the enterprise risk management (ERM) function operating in such a dynamic and transformative environment, is the capability to continuously innovate, evolve and transform its risk management processes to meet the needs of the organisation. Questionnaire survey research examined the relative importance of 18 critical success factors for dynamic ERM. Factor analysis revealed that the appropriate grouping of the 18 critical success factors (CSFs) are ERM charter, ERM processes, and ERM business alignment. These findings should empower organisations to identify risk management processes influencing agility in the risk management practise applied.
Description
Keywords
Enterprise risk management (ERM), Critical success factor (CSF), Risk management processes
Sustainable Development Goals
Citation
Didi-Quvane B., Smuts H., Matthee M. (2019) Critical Success Factors for Dynamic Enterprise Risk Management in Responsive Organisations: A Factor Analysis Approach. In: Pappas I., Mikalef P., Dwivedi Y., Jaccheri L., Krogstie J., Mäntymäki M. (eds) Digital Transformation for a Sustainable Society in the 21st Century. I3E 2019. Lecture Notes in Computer Science, vol 11701. Springer, Cham.