To emerge from the early stages of building a new business, start-ups need to stay focused on two things: building and selling. The first is by far the most important. You can’t sell what you don’t ship, and if it’s not built specifically with the customer’s needs in mind, it’ll be next to impossible to sell even with a great sales system. But as start-ups begin putting a signifi…
A management accounting tool is a framework, model, technique or process that enables management accountants to: improve performance; facilitate decision-making; support strategic goals and objectives; and otherwise add value. This is no understatement. At the time of writing there were over 12.9 million results from a Google search on ‘management accounting tools’. There is a huge array o…
“How can we help you today?” Each of us would like to hear these words when seeking health care assistance for ourselves, for our families, or for others. It should not only be our wish, but our expectation. Health care that implements a “How can we help you today?” philosophy is care that is patient centered, takes full advantage of what has been learned about systems strategies for ma…
Since the late 1990s, there have been a number of news stories in Can- ada with headlines like "Casualties of Peace" and "From National Hero to Park Bench Drunk,'" reporting on the prevalence of mental illness, particularly post-traumatic stress disorder (PTSD) among Canadian Armed Forces personnel. In January of 1997 Canada's Department of National Defence carried out an epidemiological survey…
This paper analyses 26 years of strategic management research published in Academy of Management Journal, Academy of Management Review, Administrative Science Quarterly and Strategic Management Journal. Through a content analysis, it studies the relationships between the subfields of strategic management. A multiple correspondence analysis provides a map of keywords and authors, and a frame…
Recent intensive dialogue and debate regarding healthcare reform has led provider administrators to renew their search for “best practices” around the country. Many organizations, particularly hospitals, because of their complexity, are seeking new paradigms that will improve their efficiency and effectiveness regardless of the outcome of the current reform debate. This paper suggest that…
Risk management has evolved from risk transfer or risk avoidance to one of pro-actively managing risk to create higher value. This approach sees risks as opportunities rather than threats. Good risk management is about enabling organisations take more and better informed risks. The emphasis today is shifting from management of financial and operational risks to management of strategic and reput…
For many executives, enterprise risk management (ERM) conjures up images of security breaches, corporate espionage, acts of terrorism, black swans—negative and even catastrophic events that can severely weaken or even destroy a company. But risk is not all doom and gloom. For a growing number of forward-thinking companies, ERM is not only about protecting the firm from harm, but creating mea…
Executive Summary Today financial services companies operate in increasingly complex, competitive and global markets. The ability to manage risks across geographies, products, asset classes, customer segments and functional departments is of paramount importance. The inability to manage these risks can cause irreparable damage. Convergence, consolidation, globalization and shifting regulati…
Executive Summary Enterprise risk management (ERM) is an evolving field. It has been implemented to various degrees at financial services firms such as banks and insurers as well as at companies that focus on manufacturing and services. While having an ERM process is not a guarantee of success, a solid risk culture and well-communicated process can provide a competitive advantage that help…
Enterprise Risk Management is believed to have an impact of firm value. However empirical evidence on its impact is still considered scarce. The objective of this study is to estimate the relation between ERM and firm value in the Malaysian public listed companies. Tobin’s Q is used to measure the firm value. The approach employed is to model firm value (TOBIN’S Q) as a function of Enterpri…
The topic of Enterprise Risk Management (ERM) has been growing in prominence of late despite having a 20 or so year history, it continues to draw sharp divisions of opinion as to its importance and its effectiveness in enabling financial (and other) institutions to sustain themselves over the years. With the GFC lingering in the background and the looming threat of a meltdown in Europe, Risk a…
The use of financial services and products that confirm with the Shari’ah principles cause special issues for supervision and risk management. Efficient risk management in Islamic financial institutions has assumed particular importance as they try to cope with the challenges of globalization. This paper highlights the special and general risks surrounding Islamic banks. It also explains the …