Isomorphism within risk-management practices of the Australian construction industry
TL;DR: Isomorphic pressures are thought to stimulate change and adoption of best practice in risk management (RM), although this certainly occurs in most industries, it is not occurring in the constructio... as discussed by the authors.
Abstract: Isomorphic pressures are thought to stimulate change and adoption of best practice in risk management (RM). Although this certainly occurs in most industries, it is not occurring in the constructio...
Citations
More filters
01 Jan 2016
TL;DR: In this paper, the authors challenge the dominant assumption of goal rationality behind temporary organizations' design in project-based organizations, while existing literature posits that organizations strive to selec...
Abstract: The paper challenges dominant assumption of goal rationality behind temporary organizations’ design in project-based organizations. While extant literature posits that organizations strive to selec ...
23 citations
TL;DR: In this paper , the authors investigated the risk management strategies used in Yemeni building projects and found that risk management is not executed systematically, intentionally, or continuously, and most firms' risk management procedures are reactive, semipermanent, informal, and unstructured, with no or few dedicated resources to address risks.
Abstract: Construction is a critical sector of any economy in terms of value production, labor, and contributing to the gross national product. Managing risk is a relatively young area in Yemen’s construction sector, but it is gaining traction as building activity and competition rise. Construction firms mitigate risk by using a variety of risk management methods. Therefore, there is a need to assess these procedures in order to detect shortcomings. This research aims to establish the existing risk management strategies used in Yemeni building projects. Survey questionnaires were used to collect data. Respondents were drawn from Yemeni construction businesses. Risk management is not executed systematically, intentionally, or continuously, and most firms’ risk management procedures are reactive, semipermanent, informal, and unstructured, with no or few dedicated resources to address risks. This strategy is inconsistent with generally accepted risk management principles. Nonetheless, the findings suggest a general understanding of risk management and a willingness to learn from previous errors. The study of the findings suggests that risk identification approaches such as judgment and historical data are employed for risk analysis, and that the industry typically attempts to avoid or transfer risks in Yemeni building projects. The results shed light on the shortcomings of Yemen’s project management practices. To guarantee that construction projects obtain maximum value for money, project managers of big construction businesses in Yemen need a strong understanding of and training in globally accepted systematic risk management procedures. Finally, this study can help future stakeholders determine how to work together to manage risk.
8 citations
TL;DR: The construction industry happens to be one of the key sectors of every nation's economy by way of value creation, employment and contribution to Gross Domestic Product (GDP) as mentioned in this paper.
Abstract: The construction industry happens to be one of the key sectors of every nation’s economy by way of value creation, employment and contribution to Gross Domestic Product. However, just like other se...
5 citations
TL;DR: In this paper, a study aimed to assess the changes in traditional banking institutions of Brazil towards digital entrepreneurship, due to the COVID-19 pandemic, with emphasis on the migration of almost all products and services from physical to digital format and advancement of digital segments and offices in the institutions.
4 citations
TL;DR: In this paper , the authors present an online survey of 50 Polish companies in January-April 2021 using a developed questionnaire consisting of 40 questions, where the main goal of introducing risk-oriented management is to preserve assets and increase the efficiency of financial and economic processes.
Abstract: To ensure the economic security of companies, it is necessary to introduce a risk management system based on the use of various tools, especially financial ones. The purpose of the article is to scientifically substantiate the paradigm of integration of the risk management mechanism into the system of economic security in companies on the basis of risk-oriented management. The main study method was an online survey of 50 Polish companies in January–April 2021 using a developed questionnaire consisting of 40 questions. According to the results of the expert survey, it is determined that regardless of the type of economic activity of the enterprise, the main goal of introducing risk-oriented management is to preserve assets and increase the efficiency of financial and economic processes. The introduction of risk-oriented management is perceived as a tool to increase the value of the company and ensure the achievement of strategic goals. Fraud is a significant risk to the state of economic security for modern enterprises. To prevent the fact of fraud, taking into account the specifics of the operation of companies, it is suggested to conduct an annual examination. As a result, the suggested procedure should include an audit (audit of financial statements, forensics, transition to international financial reporting standards, audit of systems and processes), assessment (assessment for audit and reporting in accordance with international financial reporting standards, risk management assessment in accordance with international standards, assessment of the effectiveness of economic security), tax analytics (identification of tax risks, analysis of compliance with tax legislation, tax audit), and a due diligence procedure for investment objects.
2 citations
References
More filters
TL;DR: In this paper, the authors argue that rational actors make their organizations increasingly similar as they try to change them, and describe three isomorphic processes-coercive, mimetic, and normative.
Abstract: What makes organizations so similar? We contend that the engine of rationalization and bureaucratization has moved from the competitive marketplace to the state and the professions. Once a set of organizations emerges as a field, a paradox arises: rational actors make their organizations increasingly similar as they try to change them. We describe three isomorphic processes-coercive, mimetic, and normative—leading to this outcome. We then specify hypotheses about the impact of resource centralization and dependency, goal ambiguity and technical uncertainty, and professionalization and structuration on isomorphic change. Finally, we suggest implications for theories of organizations and social change.
32,981 citations
TL;DR: Many formal organizational structures arise as reflections of rationalized institutional rules as discussed by the authors, and the elaboration of such rules in modern states and societies accounts in part for the expansion and i...
Abstract: Many formal organizational structures arise as reflections of rationalized institutional rules. The elaboration of such rules in modern states and societies accounts in part for the expansion and i...
23,073 citations
"Isomorphism within risk-management ..." refers background in this paper
...Meyer and Rowan (1977) describe institutional rules as myths that organizations incorporate and use to gain validity, resources and stability, and enhance their prospects of survival....
[...]
...Meyer and Rowan (1977) refer to this phenomenon as ‘decoupling’ and define it as a deliberate disconnection between the organization, its structure and its processes that enhances its legal standing and the practices that are efficient or practical....
[...]
TL;DR: The Delphi technique is well suited as a method for consensus-building by using a series of questionnaires delivered using multiple iterations to collect data from a panel of selected subjects.
Abstract: The Delphi technique is a widely used and accepted method for gathering data from respondents within their domain of expertise. The technique is designed as a group communication process which aims to achieve a convergence of opinion on a specific real-world issue. The Delphi process has been used in various fields of study such as program planning, needs assessment, policy determination, and resource utilization to develop a full range of alternatives, explore or expose underlying assumptions, as well as correlate judgments on a topic spanning a wide range of disciplines. The Delphi technique is well suited as a method for consensus-building by using a series of questionnaires delivered using multiple iterations to collect data from a panel of selected subjects. Subject selection, time frames for conducting and completing a study, the possibility of low response rates, and unintentionally guiding feedback from the respondent group are areas which should be considered when designing and implementing a Delphi study.
3,704 citations
Book•
01 Feb 1992
TL;DR: This work presents an overview of the Sample Survey Process, and discusses how to design and manage effective questionnaires, and the importance of knowing the sample size and quality.
Abstract: Figures, Tables, Exhibits, and Worksheets. Preface. The Authors. PART ONE: DEVELOPING AND ADMINISTERING QUESTIONNAIRES. 1. An Overview of the Sample Survey Process. 2. Designing Effective Questionnaires: Basic Guidelines. 3. Developing Survey Questions. 4. Utilizing Focus Groups in the Survey Research Process. PART TWO: ENSURING SCIENTIFIC ACCURACY. 5. Descriptive Statistics: Measures of Central Tendency and Dispersion. 6. The Theoretical Basis of Sampling. 7. Confidence Intervals and Basic Hypothesis Testing. 8. Determining the Sample Size. 9. Selecting a Representative Sample. PART THREE: PRESENTING AND ANALYZING SURVEY RESULTS. 10. Analyzing Cross-Tabulated Data. 11. Testing the Difference Between Means. 12. Regression and Correlation. 13. Preparing an Effective Final Report. Resource A: Table of Areas of a Standard Normal Distribution. Resource B: Glossary. Resource C: Answers to Selected Exercises. Bibliography. Index.
1,816 citations
TL;DR: The use of the term institution has become widespread in the social sciences in recent years, reflecting the growth in institutional economics and the use of institution concept in several other disciplines, including philosophy, sociology, politics, and geography as discussed by the authors.
Abstract: The use of the term institution has become widespread in the social sciences in recent years, reflecting the growth in institutional economics and the use of the institution concept in several other disciplines, including philosophy, sociology, politics, and geography. The term has a long history of usage in the social sciences, dating back at least to Giambattista Vico in his Scienza Nuova of 1725. However, even today, there is no unanimity in the definition of this concept. Furthermore, endless disputes over the definitions of key terms such as institution and organization have led some writers to give up matters of definition and to propose getting down somehow to practical matters instead. But it is not possible to carry out any empirical or theoretical analysis of how institutions or organizations work without having some adequate conception of what an institution or an organization is. This paper proposes that those that give up are acting in haste; potentially consensual definitions of these terms are possible, once we overcome a few obstacles and difficulties in the way. It is also important to avoid some biases in the study of institutions, where institutions and characteristics of a particular type are overgeneralized to the set of institutions as a whole. This paper outlines some dangers with regard to an excessive relative stress on self-organization and agent-insensitive institutions. This paper draws on insights from several academic disciplines and is organized in six sections. The first three sections are devoted to the definition and understanding of institutions in general terms. The first section explores the meaning of key terms such as institution, convention, and rule. The second discusses some general issues concerning how institutions function and how they interact with individual agents, their habits,
1,615 citations
"Isomorphism within risk-management ..." refers methods in this paper
...This research adopts the designation developed by Hodgson (2006), which defines an institution as ‘systems of established and prevalent social rules that structure social interactions’ (p. 2)....
[...]