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12 pages, 621 KiB

Open AccessArticle

The Empirical Analysis of the Core Competencies of the Company’s Resource Management Risk. Preliminary Study

by Grzegorz Drozdowski, Joanna Rogozińska-Mitrut and Jacek Stasiak

Risks 2021, 9(6), 107; https://doi.org/10.3390/risks9060107 - 3 Jun 2021

Cited by 8 | Viewed by 3245

Abstract

The occurrence of the COVID-19 pandemic revealed many weaknesses in the functioning of businesses. It turns out that managers are not prepared to manage the enterprise’s resources in a high-risk environment. Considering risk managers’ issues requires reaching for theoretical and practical knowledge about [...] Read more.

The occurrence of the COVID-19 pandemic revealed many weaknesses in the functioning of businesses. It turns out that managers are not prepared to manage the enterprise’s resources in a high-risk environment. Considering risk managers’ issues requires reaching for theoretical and practical knowledge about competencies shaped in unpredictable conditions. This study attempts to determine the importance of the company’s resource management risk among the managerial staff. For the research carried out in 2019–2020, a questionnaire, interview, and literature studies were used. The questionnaire was addressed to 282 managers from western Poland. Particular attention was paid to establishing the crucial components of the company’s resource management competence. Moreover, the regular self-assessment of risk competence made it possible to present preferences in managing strategic resources, depending on the type of position held. The competence of human resources management risk was also examined according to biographical variables (i.e., age, sex, seniority, and total seniority). Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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14 pages, 536 KiB

Open AccessArticle

Risk Management in the Management Control System in Polish Local Government Units—Assumptions and Practice

by Katarzyna Mormul

Risks 2021, 9(5), 92; https://doi.org/10.3390/risks9050092 - 10 May 2021

Cited by 3 | Viewed by 2707

Abstract

The issues related to management control and risk management are related not only to the safe operation of a given organization, but also contribute to ensuring the continuity of its operations. The main purpose of this article is to present the general principles [...] Read more.

The issues related to management control and risk management are related not only to the safe operation of a given organization, but also contribute to ensuring the continuity of its operations. The main purpose of this article is to present the general principles of the organization of the management control and risk management system and to check the knowledge of its essence and principles by the employees of local government units. In the empirical part of the article, the method of desk research was used, as well as a questionnaire, which check the knowledge of rules and procedures by local government units’ employees. The research results show that the understanding of the essence and principles of management control system and risk management by employees is incomplete. Therefore, it is recommended to conduct training in the field, increasing the knowledge of the management control system. This is important because a properly functioning management control system may contribute to the improvement of public service provision, better use of resources, and may also prevent wastage. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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15 pages, 382 KiB

Open AccessArticle

Liability for Incorrect Client Personalization in the Distribution of Consumer Insurance

by Piotr Tereszkiewicz and Katarzyna Południak-Gierz

Risks 2021, 9(5), 83; https://doi.org/10.3390/risks9050083 - 1 May 2021

Cited by 7 | Viewed by 2486

Abstract

The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust the offered insurance product to the needs, features, and situation of each individual client. This study seeks to examine how liability should be allocated when the process [...] Read more.

The use of personalization mechanisms should allow the insurance distributor to reduce exploration costs and adjust the offered insurance product to the needs, features, and situation of each individual client. This study seeks to examine how liability should be allocated when the process of the personalization of an insurance product does not result in the client’s choice of an optimal product. First, we identify the typical uses of new technologies allowing for an adjustment of insurance contracts. Second, we analyze the interplay between their application and the legal obligations of insurance product distributors. Subsequently, the paper discusses the scope of factors the insurance distributor is liable for when using personalizing tools in contacts with clients. We submit that offering an online personalization of insurance products ought to be regarded as being equivalent to providing advice under Art. 2, Sec. 1, Point 15 of the European Union Insurance Distribution Directive (IDD). From the consumer’s perspective, our analysis makes the case for the insurance distributor’s liability for mispersonalization of an insurance contract. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

14 pages, 367 KiB

Open AccessArticle

Dilemmas in Managing the COVID-19 Crisis

by Roman Dorczak, Marzanna Farnicka and Inetta Nowosad

Risks 2021, 9(5), 80; https://doi.org/10.3390/risks9050080 - 21 Apr 2021

Cited by 2 | Viewed by 2049

Abstract

The aim of this article was to present the current research on coping with coronavirus disease 2019 (COVID-19) and, on this basis, to indicate the implications of risk management in the situation of adaptation to the crisis or re-adaptation after its end. This [...] Read more.

The aim of this article was to present the current research on coping with coronavirus disease 2019 (COVID-19) and, on this basis, to indicate the implications of risk management in the situation of adaptation to the crisis or re-adaptation after its end. This article considers the psychological significance of the socially experienced situation based on the latest research conducted in Poland during the first wave of the pandemic. It is an attempt to show both the risk and protective factors, as well as possible remedial effects against unfavorable social and health phenomena, which are related to the increase in costs incurred by individuals in the process of experiencing the crisis and adaptation to the conditions after its end. These are considered in the context of the costs of adaptations used by individuals and of re-adaptation in the period of coping with COVID-19. This study conducted a meta-analysis of 13 psychological and sociological studies conducted so far in the first period of the pandemic. The results of the research show that the most difficult issue in the risk situation of the next wave of a pandemic is the lack of definition of its timeframe but also disinformation and fatigue. The results of the conducted analysis may become useful material for risk management professionals. An additional value of the article is that it presents ways of applying the conclusions resulting from the research, not only during the second wave of the pandemic but also in the necessary processes of re-adaptation to life without COVID-19. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

11 pages, 709 KiB

Open AccessEditor’s ChoiceArticle

The Use of Discriminant Analysis to Assess the Risk of Bankruptcy of Enterprises in Crisis Conditions Using the Example of the Tourism Sector in Poland

by Joanna Wieprow and Agnieszka Gawlik

Risks 2021, 9(4), 78; https://doi.org/10.3390/risks9040078 - 16 Apr 2021

Cited by 18 | Viewed by 2913

Abstract

The aim of this article is to use multiple discriminant analysis (MDA) and logit models to assess the risk of bankruptcy of companies in the Polish tourism sector in the crisis conditions caused by the COVID-19 pandemic. A review of the literature is [...] Read more.

The aim of this article is to use multiple discriminant analysis (MDA) and logit models to assess the risk of bankruptcy of companies in the Polish tourism sector in the crisis conditions caused by the COVID-19 pandemic. A review of the literature is used to select models appropriate to analyze the risk of bankruptcy of tourism enterprises listed on the Warsaw Stock Exchange (WSE). The data are from half-year financial statements (the first half of 2019 and 2020, respectively). The obtained results are compared with the current values of the Altman EM-score model and selected financial ratios. An analysis allowed the estimation of the risk of bankruptcy of enterprises from the tourism sector in Poland as well as the assessment of the prognostic value of these models in the tourism sector and the risk of a collapse of this market in Poland. The article fills the research gap created by the negligible use of solvency analysis of the tourism sector and constitutes the basis for estimating the risk of collapse of the tourism sector in a crisis situation. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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18 pages, 1602 KiB

Open AccessArticle

The Role of Information in Assessing the Risk of Conducting Bankruptcy Proceedings

by Michał Baran and Kinga Bauer

Risks 2021, 9(4), 64; https://doi.org/10.3390/risks9040064 - 1 Apr 2021

Cited by 2 | Viewed by 2274

Abstract

Modern management means making managerial decisions in many situations—including the administrative ordering of matters of a bankrupt enterprise. The situation in which the court approves the opening of bankruptcy proceedings is strictly regulated by law. This does not mean, however, that such a [...] Read more.

Modern management means making managerial decisions in many situations—including the administrative ordering of matters of a bankrupt enterprise. The situation in which the court approves the opening of bankruptcy proceedings is strictly regulated by law. This does not mean, however, that such a decision is made under conditions of certainty as to its consequences. The risk of making a wrong decision has significant consequences for everyone who is interested in it (the bankrupt company, its partners, employees, banks, the tax office). The purpose of this article is to explain the importance and significance of the various types of information that are used to reliably assess the value of a failing enterprise’s assets. The information of individual types is analyzed in the decision-making process which leads to the right decision on whether to start bankruptcy proceedings. Therefore, in the theoretical part, the authors prepare a list of types of information used in the mentioned process. Then the authors present the results of a survey (103 specialists in the field of bankruptcy), which allows to assess the real meaning of information of individual types. The main contribution for which the present paper is responsible is the description of the verified tool which functioned in the form of the survey that was applied in the study and the result arising from conducting it. This survey was used to achieve the main objective that was focused on constructing the hierarchy of significance of different types of information relating to the risk of conducting bankruptcy proceedings. The main findings show that in general insolvency specialists prioritize the information (financial and also not financial) not originating from financial reporting. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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35 pages, 1308 KiB

Open AccessArticle

Risk of Increased Acceptance for Organizational Nepotism and Cronyism during the COVID-19 Pandemic

by Grzegorz Ignatowski, Łukasz Sułkowski and Bartłomiej Stopczyński

Risks 2021, 9(4), 59; https://doi.org/10.3390/risks9040059 - 24 Mar 2021

Cited by 7 | Viewed by 10258

Abstract

Nepotism and cronyism are forms of favoritism towards certain people in the workplace. For this reason, they constitute a problem for organization managers, ethicists and psychologists. Identifying the impact of COVID-19 pandemic on the increase of nepotism and cronyism may provide a basis [...] Read more.

Nepotism and cronyism are forms of favoritism towards certain people in the workplace. For this reason, they constitute a problem for organization managers, ethicists and psychologists. Identifying the impact of COVID-19 pandemic on the increase of nepotism and cronyism may provide a basis for organizations to assess their extent and to take possible measures to prevent their negative effects. At the same time, the research presented in the article may provide a basis for further research work related to nepotism and cronyism at the times of other threats, different from the pandemic. The aim of the article is to examine the impact of the COVID-19 pandemic on growing acceptance for nepotism and cronyism in Polish enterprises. Qualitative and quantitative methods have been included in the conducted research. Qualitative study aimed at improving knowledge of nepotism and cronyism and the impact of the COVID-19 pandemic on these phenomena, followed by a quantitative study conducted in order to verify the information obtained in the qualitative study. This research has demonstrated that Nepotism and cronyism in the workplace, are phenomenon that are basically evaluated negatively. They adversely influences social and economic development, but the impact of COVID-19 pandemic on nepotism and cronyism is not significant. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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15 pages, 1739 KiB

Open AccessArticle

Recruitment of Employees—Assumptions of the Risk Model

by Halina Sobocka-Szczapa

Risks 2021, 9(3), 55; https://doi.org/10.3390/risks9030055 - 18 Mar 2021

Cited by 3 | Viewed by 9280

Abstract

The aim of this article is to present the risk model premises related to worker recruitment. Recruitment affects the final selection of workers, whose activities contribute to corporate competitive advantages. Hiring unfavorable workers can influence the results produced by an organization. This risk [...] Read more.

The aim of this article is to present the risk model premises related to worker recruitment. Recruitment affects the final selection of workers, whose activities contribute to corporate competitive advantages. Hiring unfavorable workers can influence the results produced by an organization. This risk mostly affects situations when searching for workers via the external labor market, although it can also affect internal recruitment. Therefore, it is necessary to attempt to identify recruitment risk determinants and classify their meaning in such processes. Model formation has both theoretical and intuitive characteristics. Model dependencies and their characteristics are identified in this paper. We attempted to assess the usability of the risk model for economic praxis. The analyses and results provide a model identification of dependencies between the factors determining a workers recruitment process and the risk which is caused by this process (employing inadequate workers who do not meet the employer’s expectations). The identification of worker recruitment process determinants should allow for practically reducing the risk of employing an inadequate worker and contribute to the reduction in unfavorable recruitment processes. The added value of this publication is the complex identification of recruitment process risk determinants and dependency formulations in a model form. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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8 pages, 322 KiB

Open AccessEssay

Educational Leadership in Times of Crisis

by Grzegorz Mazurkiewicz

Risks 2021, 9(5), 90; https://doi.org/10.3390/risks9050090 - 10 May 2021

Cited by 4 | Viewed by 3368

Abstract

The chain of crises experienced during the first two decades of the 21st century has changed life on Earth and concluded in a list of incredibly difficult challenges. It has become obvious that our traditional ways of acting do not work anymore. We [...] Read more.

The chain of crises experienced during the first two decades of the 21st century has changed life on Earth and concluded in a list of incredibly difficult challenges. It has become obvious that our traditional ways of acting do not work anymore. We need to search for new ideas and approaches. We want to believe in the potential of education. It manifests itself in different ways in beliefs, declarations, and actions. The work of education systems and institutions is a huge investment of commitment, time, and money. Governments, experts, workers, and service users have high hopes and enormous resources to keep education functioning. Everyone involved in designing solutions and carrying out tasks must understand how to respond to the global context and the challenges that humanity must deal with in order to survive. The environment and problems of public health, diversity and inequalities, technologies and social media, and the crisis of democracy affect the social reality and the world of education today. To be able to respond, both to challenges and to expectations, the human approach to leadership has to be transformed. The main problem for reformers is to define leadership again, using new assumptions and new intellectual tools. The research question worth asking is: what kind of educational leadership is needed? In this article, I propose a paradigm shift in thinking about educational leadership and a departure from the dominant classical paradigm. I propose a new model of educational leadership and adequate activities. Full article

(This article belongs to the Special Issue Risk in Contemporary Management)

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