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Sustainable risk management : Case study of semiconductor, battery, and pharmaceutical MNCs

초록/요약

With the growing complexity in the requirements from stakeholders and customers in implementing corporate social responsibility and the competition in the global market, it is critical for firms to consider the sustainability elements in their risk management for long-term development. However, the existing literature has a few studies examining the practices and strategies of enterprises in their risk management considering sustainability. Therefore, the purpose of the study is to examine how MNCs implement sustainable risk management and mitigate risks efficiently. A systematic inductive analysis three-step approach study is conducted on semiconductor, battery, and pharmaceutical MNCs with the collected database from 2019 to 2021 to analyze the differences in their practices. The study generates a grounded theoretical framework for risk management considering the sustainability dimension; and reveal how MNCs implemented their risk management strategies proactively or reactively affected by the different characteristics of each industry. The proposed model provides a beneficial benchmark for other industries to attain sustainability while having an effective risk management strategy.

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목차

CONTENTS
1. INTRODUCTION - 1 -
2. LITERATURE REVIEW - 6 -
2.1. RISK MANAGEMENT - 6 -
2.2. SUSTAINABILITY - 9 -
2.3. INTEGRATION OF SUSTAINABILITY AND RISK MANAGEMENT IN THE SUPPLY CHAIN NETWORK - 12 -
3. METHODOLOGY - 17 -
3.1. MNCS SELECTION - 17 -
3.2. DATA COLLECTION - 19 -
3.3. METHODOLOGICAL PROCESS - 19 -
4. DATA ANALYSIS - 23 -
4.1. COMMIT TO A SUSTAINABLE RISK MANAGEMENT - 25 -
4.2. ASSESS SUSTAINABLE RISK MANAGEMENT PROGRAMS - 29 -
4.3. COMPLY WITH INSTITUTIONAL REQUIREMENTS FOR SUSTAINABLE RISK MANAGEMENT - 31 -
4.4. MITIGATE RISKS FOR THE SUSTAINABILITY - 33 -
4.5. ADAPT TO CHANGES IN SUPPLY CHAIN RISKS FOR SUSTAINABILITY AND RESILIENCE - 36 -
5. FINDINGS - 39 -
5.1. FINDINGS 1: ASSESSMENT OF MNCS’ PRACTICES AND STRATEGIES FOR SUSTAINABLE RISK MANAGEMENT - 39 -
5.2. FINDING 2: A GROUNDED THEORETICAL MODEL FOR SUSTAINABLE RISK MANAGEMENT - 45 -
6. DISCUSSION - 48 -
6.1. IMPLICATIONS - 48 -
6.2. LIMITATIONS AND FUTURE RESEARCH DIRECTIONS - 50 -
7. CONCLUSION - 52 -
8. REFERENCES - 53 -
9. APPENDIX - 61 -

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