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An Investigation on the Significance of Risk Management on Business Performance of Tesco Company - Research Proposal Example

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This the first section of this research proposal that presents a brief on the background on which the proposed research is developed. The study identifies the significance of risk management and the way it impacts the business performance of Tesco thorough the investigation of current literature…
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An Investigation on the Significance of Risk Management on Business Performance of Tesco Company
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AN INVESTIGATION ON THE SIGNIFICANCE AND IMPACT OF RISK MANAGEMENT ON BUSINESS PERFORMANCE OF A COMPANY: A CASE STUDY OF TESCO, UK Table of Contents Table of Contents 2 1.0 Introduction: 4 1.1 Introduction: 4 1.2 Background of the proposed study: 4 1.3 Rationale of the proposed study: 5 1.4 Research aims and objectives: 5 1.5 Research questions: 6 1.6 Research hypothesis: 6 1.7 Structure of the proposed research work: 6 2.0 Literature review: 8 2.1 Introduction: 8 2.2 Risk management: 8 2.3 Significance of risk management: 9 2.4 Major types of risks: 10 2.5 Risk Management Process: 11 2.6 Current risk management strategy of Tesco: 12 2.7 Chapter summary: 13 3.0 Research methodologies: 13 3.1 Introduction: 13 3.2 Research philosophy: 14 3.3 Research type: 14 3.4 Research approach: 15 3.5 Research design: 15 3.6 Data collection and analysis plan: 16 3.7 Sample size and sampling method: 18 3.8 Accessibility issues: 19 3.9 Ethical issues: 19 3.10 Research limitations and future scope: 20 3.11 Time-scale: 20 3.12 Resource requirements: 21 Reference List: 22 1.0 Introduction: 1.1 Introduction: This the first section of the current research proposal that presents a brief on the background on which the proposed research is developed. The background of the current study is discussed in the chapter. This is followed by a further discussion on the rationale or significance of the proposed research. Furthermore, the section presents the aims, objectives, questions and hypothesis of the proposed study. 1.2 Background of the proposed study: Globalisation and fast technological advancements have broadened the scope of strategic management in context to business operations. The business environment comprising of various internal and external factors seems to have become dynamic than ever before. This might have positive or negative impact on the performance of a company. However, the concern is not with the positive impact of changes in business environment, but companies are often concerned with the negative impacts of potential changes in business environment. Risk refers to the probability of occurrence of an event that might have positive or negative impact on a business enterprise. In this context, Agrawal (2009) stated that risks are quantifiable in nature and hence, can be measured. However, companies often fail to recognise potential risks and take necessary actions to mitigate the same. This results in the occurrence of risks that might badly affect the business and financial performance of an organisation. According to Das and Das (2006), poor risk management strategy, ineffective implementation of risk management strategies and weak vision are the three major reasons leading to the failure of risk management. This has encouraged the researcher to conduct an investigation on the significance of risk management to a company and its impact on the business performance of the company. The researcher has chosen Tesco for the proposed study as it is one of the leading retailers of the UK. The researcher seeks to evaluate the current risk management practices of Tesco to understand the extent to which the same has been successful in improving the business performance of the company. 1.3 Rationale of the proposed study: Proper understanding of the problem or issue identified for a concerned research work is important to recognise the significance the study. In the current scenario, the researcher considers the inability of business organisations to recognise the impact of risk management on the business performance, as the principle issue along with lack of clarity in understanding the significance of risk management to business. In this context, the current study is pivotal as it aims to critically evaluate the significance of risk management practices to companies. This could raise the consciousness among the companies in respect of risk management. In addition, the research also holds high importance as it helps in understanding the impact of risk management on business performance of companies. As mentioned by Crouhy et al. (2000), companies need to provide a proper justification for incurring huge expenses on risk management. The current study is also vital as it examines the existing risk management strategy of Tesco, one of the leading retailers of the UK. The company is an example of excellent business practices for other retailing companies in the UK. Thus, inputs from the examination of its risk management strategy and practices could help Tesco and other retailers to further improve such strategies. On the other hand, the current study is also aimed at developing suitable recommendations for further improvement of existing risk management strategy of Tesco post identification of the limitations of current risk management practices of Tesco. 1.4 Research aims and objectives: The current study aims to identify the significance of risk management and the way it impacts the business performance of Tesco through investigation on current literatures and necessary data. The key objectives that the current study seeks to achieve are mentioned below: To critically evaluate the significance of risk management to business in context of the UK retail industry To understand the impact of risk management on business performance of companies To investigate the existing risk management strategy of Tesco to understand the extent to which the same has been successful in improving its business performance To develop suitable recommendations that could help in overcoming the limitations of the current risk management policy of Tesco and improve the same 1.5 Research questions: The research objectives stated above give rise to the following research questions that the study seeks to answer through the investigation: Why risk management is significant to retail companies in the UK? How does risk management affects the business performance of a company? What are the key limitations of the current risk management strategy of Tesco? How far the existing risk management strategy has been successful in improving its business performance? How can the current risk management practice of Tesco be improved further to enhance its business performance? 1.6 Research hypothesis: HO: Risk management impacts business performance of retail companies H1: Risk management does not impact business performance of retail companies 1.7 Structure of the proposed research work: Structure of a research work refers to the set of key elements or sections that constitute the entire research work. In present scenario, the study would be divided into the following chapters: Chapter 1: Introduction This chapter focuses on highlighting the significance of the study and the premise on which the research has been developed. In other words, the chapter helps in understanding the context of the study and through which it contributes to the chosen company and the industry at large. Aims and objectives of the study are also mentioned in this section. Chapter 2: Literature review This chapter conducts a review of the existing literatures in respect of risk management and its impact on the business performance of Tesco. The chapter also evaluates the significance of the risk management in context of the UK retail sector. The researcher seeks to identify the gaps in the current literatures by investigating the strengths and weaknesses of the current literatures. Chapter 3: Research methodology The outcomes from a study and validity of the same depend largely on the tools and techniques chosen by a researcher to conduct the investigation. In this section, the researcher explains the various methodologies available for research works and also provides justification for the selection of specific research methodologies. Chapter 4: Findings and Analysis Data forms a key element of any research work. The researcher applies the chosen tools on the collected data for analysis to derive vital inputs from the same. This chapter is crucial as it helps in understanding the extent to which current theories and practices are relevant to real life situation. Chapter 5: Conclusion and Recommendation In this section, the researcher links the research outcomes with the literature review and shows the way in which the study has achieved the pre-determined research objectives. The researcher pursues a triangulated approach in this regard. In addition, the chapter discusses the potential strategies or action plans that could help in enhancing the effectiveness of the current risk management strategy of Tesco. 2.0 Literature review: 2.1 Introduction: The researcher reviews the existing literatures related to the risk management, its significance and its impact on business performance. This section is focused on critical evaluation of existing literatures by considering both positive and negative arguments in respect of current theories and practices. The study is focused on identifying the limitations of current literatures. This chapter can be considered as highly crucial as it helps in identifying the strengths and shortfall of the current views and beliefs in context of the research topic. Tesco is one of the leading retailers in the UK. The company has multiple product lines like groceries, banking, telecom, clothing, telecom and others. The company has more than 500,000 employees across the globe. The shares of the company are also listed in the London stock exchange as well. ASDA, Sainsbury and Morrison are the major competitors of Tesco. 2.2 Risk management: Risk refers to the probability of occurrence of certain events in future that can result in the deviation of actual results from the pre-determined ones. A risk can be positive or negative depending on the potential impact of the risk. Positive risk can be defined as those events that result in positive impact on the performance of an organisation. On the other hand, negative risks are those that bring in negative impact on the business performance of a firm. However, the term ‘risk’ is often confused with the term ‘uncertainty’ but there are considerable differences between the two. In this context, Colley et al. (2002) viewed that the probability of a risk is known whereas; the probability of uncertainty is unknown. Thus, risks are quantifiable in nature while uncertainties are non-quantifiable. In other words, the outcome of risks is unknown; however, the distribution of the outcome is known. In contrast, the outcome and distribution of outcomes associated with uncertainty are both unknown. Risk management refers to the set of plans, strategies, initiatives and activities undertaken by a company to mitigate potential risks or reduce the severity of potential risks. As mentioned by Holmes (2002), a sound risk management needs to be capable of identifying potential risks beforehand and prevent the occurrence of the same. On the contrary, Jordão and Sousa (2010) argued that all risks are not subject to mitigation; however, the impact of the risks can be reduced through appropriate action plans. Therefore, risk management is concerned with the identification, quantification, assessment, control and elimination or reduction of potential risks. 2.3 Significance of risk management: Globalisation, increased market competition and complicated business environment have increased the significance of risk management in modern era. The number of studies conducted in the area of risk management has also increased considerably in the last two decades. Companies operating at international level like Tesco, J Sainsbury, ASDA and similar others, are more concerned about risk management to reduce the overall risks to which the companies are exposed to. According to Krug (2009), Multinational companies (MNCs) have started publishing the risk management strategies in company annual reports to enhance confidence among the investors about the capability of the companies to tackle potential risks. This is a popular trend in the UK. In fact, companies also publish the name and responsibilities of the key managers leading the risk management program. Names of different committees are also disclosed in the annual reports. In the view of Lynch (2006), effective risk management helps in protecting a company from potential financial losses that might arise on the occurrence of a particular risk. For example, occurrence of fire in the manufacturing unit might badly affect the image and cash flow of companies. Similarly, product failure, sudden rise in corporation tax rate or interest rate can also fetch negative impacts on the business performance of a company. However, Mars and Weir (2000) viewed that the non-financial impact of risks are often greater than the financial impacts and thus, risk management is required to mitigate the non-financial effects. Leading examples of on-financial impacts could be loss of goodwill, loss of potential customers, loss of market share and many others. On the contrary, Noble and Bestley (2005) argued that risk management in most cases do not bring in any benefit as the money spent by companies on risk management often exceeds the actual benefits derived from such risk management program. Companies being business entities are primarily focused on earning revenues and profits. However, the money spent towards risk management directly affects the cash flows of the companies; however, there might not be any positive impact on the revenues of companies. This is mainly because risk management program are not aimed at generating revenues or profitability but are concerned about protecting a firm from the impact of potential risks; but, the overall business performance indicates the extent to which the risk management strategy of a particular company has been successful. In this context, Ravindran (2009) viewed that consistent growth in revenues, profits and market share are the result of effective risk management program. According to Wiersema and Beck (2011), risk management helps in ensuring uninterrupted business operations which further helps companies in meeting customer demand on time. An efficient risk management system helps in eliminating failure of machineries and equipments that could disturb the production process. On the other hand, risk management enhances the competitive edge of a company over its rivals by reducing the product failure, quality and goodwill risks. 2.4 Major types of risks: There are several theories and views on the basic types of risks. Diversifiable and non-diversifiable are the two major types of risks. Risks that are inherent to an entire market, economy or industry are referred to as non-diversifiable risks. These risks are also termed as systematic or market risks. These types of risks affect all the firms operating in a concerned market, industry or economy. Systematic risks are difficult to predict and are impossible to avoid through diversification (Baye, 2000). Examples of systematic risks could be change in interest rate, exchange rate fluctuation, civil war, change in government policies, recession, inflation and others. On the other hand, non-diversifiable risks are the ones that can be mitigated through proper diversification. Such risks do not affect the country or a market as a whole but affects a particular company. Examples of such risks could be product failure, strike by employees and others. The major types of risks to which a company is exposed to are presented below: Strategic risks Compliance risks Financial risks Operational risks Reputational risks Distribution risks Safety risks Human resource risks Marketing risks 2.5 Risk Management Process: The process of risk management is discussed below: Scanning of business environment: This is the first stage in the risk management process that involves continuously monitoring and evaluating the business environment. At this stage, both internal and external factors are examined that could result in a risk. Risk identification: This stage involves identification of potential risk based on evaluation of the business environment. The risks can be financial or non-financial. Similarly, risks can be internal or external. A list of all potential risks is prepared at this stage. Risk assessment: Hynes (2002) stated that the probability and impact of each risk are determined based on past experience and justified forecasting. At this stage, a company also prioritise the identified risks and prepares a prioritisation table. Risks having the most severity in terms of probability and impact are ranked first followed by risks with lower severity. Development of action plans: At this stage, a company develops different action plans to mitigate or reduce potential risks. According to Dine (2000), brain-storming and experts’ advice are the two most effective methods of generating solutions to tackle potential risks. Implementation of action plans: The action plans developed in the previous stage are put to execution and managed by the managers. The virtual action plans are implemented through the application of various tools, techniques and strategies. Monitoring and control: According to Johnson and Scholes (1999), monitoring and controlling involves use of specific tools to monitor the progress of the risk management program and control the activities of risk management through effective control measures. The purpose of risk management program is to ensure that the action plans do not fail to produce the planned performance level. 2.6 Current risk management strategy of Tesco: It is a major challenge for any company to identify and manage the potential risks through appropriate control measures. Kim and Nofsinger (2007) stated that the risk management strategy of Tesco is mainly focused on balancing the risks and rewards associated with potential risks. Tesco maintains a major risk register that reflects the key risks faced by the company (Kaen, 2003). The risk register maintained by Tesco also indicates the likelihood and impact of the risks. Severity of each risk identified by the company is the product of the likelihood and impact of potential risks. The risk register also states the action plans to be taken by Tesco to mitigate the identified risks. The major risks identified and reported by Tesco in its annual report 2014 are presented below: Business strategy risk Financial risk Competition risk Reputational risk Performance risk Property risk Economic risk Political and regulatory risk Product safety and ethical trading risk Technology risk People risk Treasury risk In the view of Grundy (2003), Tesco’s risk management strategy has been successful to a great extent in mitigating risks and the same is reflected in the consistent growth of the company. The sales revenue of Tesco has increased from £63,406m in 2013 to £63,557m in 2014. The company has been able to increase its operating profit from £2382m in 2013 to £2631m in 2014 in spite of fall in gross profit in 2014 compared to 2013. There has been substantial growth in net profit of the company from £24m in 2013 to £970m in 2014. However, reduction in gross profit and increase in cost of sales remain the major concerns for the company. According to Hirschey et al. (2004), the risk management system of Tesco suffers from a weak internal control system resulting in production defects, idle time and absenteeism. 2.7 Chapter summary: Risk management has become one of the vital elements of business strategy in modern era because of complex and dynamic market environment. Tough market competition is yet another cause for the growing importance of risk management. However, a company can only mitigate non-systematic risks, but systematic risk cannot be mitigated through diversification. As regard to Tesco, the company has been successful in improving its market share and financial results through its risk management strategy. However, lack of effective internal control system is a key limitation of current risks management system of Tesco. 3.0 Research methodologies: 3.1 Introduction: This section of the proposal highlights the key research methodologies to be used by the researcher for the proposed study. This section is vital as it helps in understanding the various types of tools and techniques used in research works. The section starts with a discussion on the philosophy, approach and design of research. This is followed by a discussion on the data and sampling process for the study. In addition, the section also presents a discussion on the potential ethical and accessibility issues. The chapter ends with a presentation of time-chart that indicates the time needed to complete the entire study. Overview of chosen research methodologies: The summary of the research methods to be used by the researcher are presented below: Research methodologies Name Research philosophy Positivism Investigation type Mixed Research approach Deductive Research design Exploratory Data type Primary & Secondary; Quantitative & Qualitative Data collection tools Direct Interview & Survey questionnaire Data presentation tools Tables & Charts Sample size 60 employees and 3 managers Sampling techniques Simple random sampling & convenience sampling methods 3.2 Research philosophy: Research philosophy is basically divided into ontology, axiology and epistemology. Ontology focuses specifically on such elements that are somehow connected to human beings whereas the concern of Axiology is on creating value for an industry or society at large. On the other hand, epistemology is focused on examining the main body of knowledge related to a particular study. Epistemology can also be classified into positivism, realism and interpretive philosophies. Interpretive philosophy is used in studies in which human elements form a major aspect whereas realism is used to check the validity of a research work. On the other hand, research studies often use positivism philosophy if the nature of the study is scientific in nature. In current scenario, the researcher would use positivism philosophy as the current study is scientific in nature. In addition, a systematic or scientific strategy enhances the success probability of a research work. 3.3 Research type: Investigations conducted by researchers can be classified into quantitative, qualitative and mixed research works. The segregation is mainly based on the nature of data and tools used the researchers in conducting the study. Studies involving quantitative data analysis are known as quantitative studies whereas researches based on qualitative data analysis are referred to as qualitative research works. There is a third type of investigation known as the mixed investigation that involves analysis of both quantitative and qualitative data. While, quantitative data analysis help a researcher in avoiding biasness in data analysis qualitative data analysis helps in getting an in-depth view on a concerned situation. In current situation, the researcher focuses on conducting mixed investigation to benefit from both quantitative and qualitative data. Quantitative analysis would help in analysis the business performance of Tesco whereas qualitative analysis would help in understanding the views of employees and managers. 3.4 Research approach: Inductive and deductive are the two key types of research approaches. Researchers use deductive approach to test the validity of the current literatures whereas inductive approach is used to arrive at a new theory because of irrelevance of existing theories. In present context, the researcher would use deductive approach as this would help the researcher to critically examine the existing risk management practices of Tesco and the extent to which the same enables Tesco in improving its business performance. In this context, Colwell (2006) stated that studies following deductive approach are mainly based on quantitative data. The current study also includes quantitative data and this justifies the selection of deductive approach for the current study. Furthermore, the researcher is concerned about understanding the significance of risk management to retailers of the UK and how the same impacts business performance. This also justifies the selection of deductive approach for the study. 3.5 Research design: Research design or the strategy to be adopted by a researcher for a study can be of three types which are Explanatory, Exploratory and Descriptive. Explanatory design throws light on the way in which causes give rise to effects. Descriptive design focuses on describing a particular situation or observation. On the other hand, exploratory design is used to study an existing situation, idea, theory or view from multiple perspectives. The researcher would pursue exploratory design for the proposed study as this would allow the researcher to explore the significance of risk management and its impact on business performance of Tesco from the view of employees and managers. In other words, the researcher would be able to examine risk management of Tesco from different angles. 3.6 Data collection and analysis plan: Type of data: Data refers to the facts and figures that are unprocessed and organised in nature but proper processing of these data can generate useful information. In this context, Chilisa (2012) viewed that the quality and validity of research outcomes depends on the appropriateness of the data used in the study. Data act as input to a research work which when analysed give rise to outputs in the form of useful information. Researchers hold that data can be broadly classified into primary and secondary data based on the sources of collection. The key difference between the two is that primary data are original in nature as these are collected directly from the sources. On the other hand, secondary data are not original in the sense that these data reflect the information generated by previous investigation of some primary data. Data can also be classified into quantitative and qualitative data based on the nature of the data. For instance, numerical facts and figures are termed as quantitative data whereas qualitative data represents views and thoughts in respect of a concerned situation. Selecting the appropriate type of data is not an easy task and involves consideration of a wide range of factors. As mentioned by Colwell (2006), research aims and objectives are the most important factors that need consideration for determining the most suitable type of data for a particular investigation. In present situation, the researcher would use both primary and secondary data for the study. Secondary data would allow the researcher to evaluate the risk management strategy of Tesco and evaluate its impact on the business performance of the company. On the other hand, primary data would enable the researcher to derive vital insight on risk management and its impact on business performance from the business experts. In case, the nature of the data is considered then the researcher would use both quantitative and qualitative data as this would help in overcoming the limitations in respect of the data. The researcher firmly believes that a combined use of primary and secondary data would enhance the quality of research outcomes. Data sources and data collection method: The sources and methods in respect of data collection vary depending whether the concerned data is primary or secondary in nature. It is the sole responsibility of the researcher to first determine the sources from which data are to be collected and then determine the way in which data are to be gathered. Proper justification for the both the stages ensure appropriateness of the selected source and methods. In current scenario, the researcher would collect primary from the following sources: Employees of Tesco Senior managers of Tesco The researcher would however collect secondary data from the below-mentioned sources: Journals Articles Books Annual reports of Tesco Internet Blogs Websites The major processes for collection of primary data are given below: Direct Interview Survey questionnaire Focus group Observation The researcher would use two popular methods of primary data collection namely direct interview and survey. Direct Interview would be used to collect qualitative data from the senior managers of Tesco. According to Jensen (2002), direct interview results in better research outcomes by improving the communication process and understanding between the researcher and the respondents. Furthermore, direct interview is considered suitable where respondents are experts in respective domains. On the other hand, the researcher would use survey questionnaire to gather data from the employees of Tesco. Survey questionnaire helps a researcher in accessing a large number of respondents and this justifies the selection of this method for current study. Data presentation and analysis: It is important that the presentation style of data makes it easy for the intended audience to understand the same. Data can be presented using one or more presentation tools. The researcher would use tables to present the data that are numeric in nature. This would be supported by suitable graphs for better understanding of the data. However, the researcher would resort to narrative format for the presentation of qualitative data. The researcher would use the following tools to analyse the numeric data: Percentage Average Mean Standard deviation However, qualitative data would be analysed through logical evaluation. 3.7 Sample size and sampling method: A sample refers to a single unit of a population used to understand the view of the entire population. Thus, sampling is the method through which samples are collected from a population. In present scenario, the researcher would interview 3 senior managers and 60 employees of Tesco. Sampling methods can be broadly classified into probabilistic and non-probabilistic sampling methods. Under Probability sampling method, each member of a population has an unknown non-zero chance of selection whereas under Probability sampling method, samples are not selected on random basis. The key methods of Non-Probability sampling method are mentioned below: Random sampling Systematic sampling Stratified sampling The major methods of Probability sampling method are mentioned below: Convenience sampling Judgement sampling Quota sampling Snowball sampling The researcher would use Simple random sampling method for collecting data from the employees of Tesco. In this context, Kotzab and Westhaus (2005) stated that simple random sampling method provides known and equal opportunity to the members of a population for selection. Simple random sampling technique is also considered suitable for large population. On the other hand, the researcher would use non-probabilistic convenience sampling method for selecting 3 managers from the existing pool of managers of Tesco. Convenience sampling process is considered most suitable for studies pursuing exploratory designs. Thus further justifies the selection of this method for current study. 3.8 Accessibility issues: Accessibility issues are the potential constraints or barriers faced by a researcher in conducting a research work particularly in respect of collecting data. It is important for any researcher to develop prior action plans to mitigate potential accessibility issues else the research work might not get completed within the pre-determined time-frame. In addition, inability to access the required data can also result in failure of the investigation. In current scenario, the researcher believes that accessing managers and employees could be the strongest accessibility issue. However, the researcher would meet the administrative team of Tesco in the UK and explain the purpose of the study. The researcher would obtain prior permission from the concerned department for conducting direct interviews and survey with the managers and employees respectively. The researcher would send survey questionnaire to the official email IDs of the employees. The researcher would also confirm the interview schedule with the managers beforehand to ensure availability of the managers for this purpose. 3.9 Ethical issues: In the view of Mallette and Duke (2004), undue influence on the respondents and lack of confidentiality are the two major ethical issues associated research works. The researcher would not offer bribe to the respondents to exert unethical influence on these respondents. In addition, the researcher would maintain confidentiality of the identity, contact details and views of the respondents. The researcher would also ensure that the sources chosen for secondary data collection are authentic. 3.10 Research limitations and future scope: The current research work suffers from the limitation of poor sample size that might raise questions on the validity of the research outcomes. In addition, the study does not involve any comparison of Tesco with any other leading retailers like J Sainsbury, ASDA and others. This could have helped in understanding the difference in risk management practices among the companies and how the same impacts business performance. 3.11 Time-scale: Research Activities WK 1 WK 2 WK 3 WK 4 WK 5 WK 6 Literature review Selection of research methods Determination of data collection instruments Collection of data Analysis of data Development of recommendations 3.12 Resource requirements: The researcher would require the following resources for conducting the investigation: Relevant journals and articles on risk management strategy of Tesco Relevant books on risk management strategy of Tesco Access to online library Contact details of Tesco officials’ Necessary stationeries Internet connection Laptop Reference List: Agrawal, R., 2009. Risk management. Jaipur, India: ABD Publishers. Baye, M., 2000. Managerial economics & business strategy. Boston: Irwin/McGraw-Hill. Chilisa, B., 2012. Indigenous research methodologies. Thousand Oaks, Calif.: SAGE Publications. Colley, J., Doyle, J. and Hardie, R., 2002. Corporate strategy. New York: McGraw-Hill. Colwell, R., 2006. MENC handbook of research methodologies. Oxford: Oxford University Press. Crouhy, M., Galai, D. and Mark, R., 2000. Risk management. New York: McGraw Hill. Das, S. and Das, S., 2006. Risk management. Singapore: John Wiley & Sons. Dine, J., 2000. The governance of corporate groups. Cambridge: Cambridge University Press. Grundy, T., 2003. Gurus on business strategy. London: Thorogood. Hirschey, M., John, K. and Makhija, A., 2004. Corporate governance. Amsterdam: Elsevier JAI. Holmes, A., 2002. Risk management. Oxford, U.K.: Capstone Pub. Hynes, M., 2002. Transitioning NAVSEA to the future. Santa Monica, CA: Rand. Jensen, K., 2002. A handbook of media and communication research. London: Routledge. Johnson, G. and Scholes, K., 1999. Exploring corporate strategy. London: Prentice Hall Europe. Jordão, B. and Sousa, E., 2010. Risk management. New York: Nova Science Publishers. Kaen, F., 2003. A blueprint for corporate governance. New York: AMACOM. Kim, K. and Nofsinger, J., 2007. Corporate governance. Upper Saddle River, N.J.: Pearson/Prentice Hall. Kotzab, H. and Westhaus, M., 2005. Research methodologies in supply chain management. Heidelberg: Physica-Verlag. Krug, J., 2009. Corporate strategy. London: SAGE. Lynch, R., 2006. Corporate strategy. Harlow, England: FT/Prentice Hall. Mallette, M. and Duke, N., 2004. Literacy research methodologies. New York: Guilford Press. Mars, G. and Weir, D., 2000. Risk management. Aldershot, Hants, England: Ashgate. Noble, I. and Bestley, R., 2005. Visual research. Lausanne: AVA. Ravindran, A., 2009. Operations research methodologies. Boca Raton: CRC Press. Wiersema, M. and Beck, J., 2011. Corporate strategy. Cheltenham, UK: Edward Elgar Pub. Read More
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