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ABB and Electrolux in the light of enterprise risk management: A case study of two industrial companies
Uppsala University, Humanistisk-samhällsvetenskapliga vetenskapsområdet, Faculty of Social Sciences, Department of Business Studies.
2007 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Due to the increasingly dynamic business environment the recent trend among American companies has been extending the financially protective focus of risk management by including various non-financial concerns connected with corporate strategies and goals. This recent approach for managing strategic and operational risks is referred to as enterprise risk management (ERM).

According to Ulf Rönndahl, the general risk manager of the Swedish insurance company If, due to regulations for protecting consumers Swedish insurance companies have been forced to work more actively with operational risks and develop their internal control environments. However, this consumer protection does not exist within the Swedish industry. At the same time it is important for companies to pay attention to non-financial uncertainties for assuring their strategies and achieving goals, while sometimes critical for ensuring their survival.

This study, which is based on recent ERM theory, examines how the two industrial companies Electrolux and ABB manage non-financial risks. Information about the companies’ risk management is collected during personal interviews with Lennart Edström, the chief operational risk officer of Electrolux, and Sigvard Nilsson, head of ABB Group Internal Audit Northern Europe. The general risk manager at If, Ulf Rönndahl, contributes with information in the initial phase of the research.

The study shows that since the two case companies are listed in the American stock market they have been forced to confirm with American stock exchange rules and account for non-financial uncertainties. The companies’ concern for managing strategic and operational risks is also explained by their experiences at the same time as the companies are aware of the need of protecting strategically important core activities and act proactively.

Place, publisher, year, edition, pages
Uppsala: Företagsekonomiska institutionen , 2007. , 35 p.
Keyword [en]
risk management, enterprise risk management, operational risks, strategic risks, non-financial risks
National Category
Business Administration
Identifiers
URN: urn:nbn:se:uu:diva-8979OAI: oai:DiVA.org:uu-8979DiVA: diva2:132028
Presentation
2007-01-11, K 334, Ekonomikum, Kyrkogårdsgatan 10, Uppsala, 10:15
Uppsok
samhälle/juridik
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Available from: 2008-05-07 Created: 2008-05-07

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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