How Does LG Group Embed Enterprise Risk Management (ERM) System In Its Conglomerate Governance To Control Its Affiliated Firms' Risk Events?
Sangil Kim,Jungmin Yoo +1 more
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In this article, the authors present a case of enterprise risk management embeddedness in LG Group, globalized conglomerate in Korea, focusing on how ERM systems minimize the agency costs between conglomerate headquarters and its affiliated firms.Abstract:
This paper presents a case of enterprise risk management (ERM) embeddedness in LG Group, globalized conglomerate in Korea. Findings are differentiated from prior studies in two aspects. First, this study focuses on how ERM systems minimize the agency costs between conglomerate headquarters and its affiliated firms. Second, cases of diversified twelve affiliated firms find that COSO ERM framework are to be applied adaptively to entities’ inherent or external conditions as industry, age, management level etc. Those findings might be a practical guidance for most Asian business groups to embed ERM frameworks in conglomerate governances, filling gaps between theoretical COSO manual and practical applications.read more
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Small Construction Business Owners' Strategies for Employee Retention
Abstract: Small Construction Business Owners’ Strategies for Employee Retention by Charles H. Griner, Jr. MS, Troy University, 2006 BBA, University of Mississippi, 1991 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University November 2019 Abstract Thirty-four percent of people in the United States of America work for businesses that employ fewer than 100 people. However, many small business owners lack the strategies necessary to retain their valuable employees. Businesses that fail to retain valuable employees are as much as 28% less efficient. The purpose of this qualitative multiple case study was to explore strategies small construction business owners use to retain their valuable employees. Contingency theory provided the conceptual framework. The participants were three owners of three small businesses in the construction industry located in Mississippi which implemented successful policies and procedures to retain their employees. The data sources for this study were semistructured interviews, financial statements, newspaper articles, websites, and social media. A thematic analysis was used to analyze the data. Three themes morphed to include challenging employees and reward them accordingly, mitigating unplanned turnover, and treating employees and others fairly. Potential implications for positive social change are that increased profits among small business owners may enable them to provide better benefits and pay and incentive increases to their employees. Small business owners with increased profits may also be better equipped to participate in community-based charitable organizations.Thirty-four percent of people in the United States of America work for businesses that employ fewer than 100 people. However, many small business owners lack the strategies necessary to retain their valuable employees. Businesses that fail to retain valuable employees are as much as 28% less efficient. The purpose of this qualitative multiple case study was to explore strategies small construction business owners use to retain their valuable employees. Contingency theory provided the conceptual framework. The participants were three owners of three small businesses in the construction industry located in Mississippi which implemented successful policies and procedures to retain their employees. The data sources for this study were semistructured interviews, financial statements, newspaper articles, websites, and social media. A thematic analysis was used to analyze the data. Three themes morphed to include challenging employees and reward them accordingly, mitigating unplanned turnover, and treating employees and others fairly. Potential implications for positive social change are that increased profits among small business owners may enable them to provide better benefits and pay and incentive increases to their employees. Small business owners with increased profits may also be better equipped to participate in community-based charitable organizations. Small Construction Business Owners’ Strategies for Employee Retention by Charles H. Griner, Jr. MS, Troy University, 2006 BBA, University of Mississippi, 1991 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University November 2019 Dedication I dedicate this study to my mother, Brenda Morris Griner. She provided encouragement and served as an example of what one can accomplish with hard work and persistence. Acknowledgments I would like to thank my chair, Dr. Kenneth Gossett, for being patient with me while I was being impatient. I would also like to thank the faculty, staff, and my fellow students for all of their input and guidance along the way.
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Enterprise risk management: An empirical analysis of factors associated with the extent of implementation
TL;DR: In this paper, the authors examined factors associated with the stage of ERM implementation at a variety of US and international organizations, and found that ERM adoption is positively related to the presence of a chief risk officer, board independence, CEO and CFO apparent support for ERM, presence of Big Four auditor, entity size, and entities in the banking, education, and insurance industries.