Differences in Considering the Operational Risk during the Strategy Implementation Process – Case Study of Classical and Visionary Strategic Approach
AbstractBackground. The article describes the issue of considering the operational risk, its identification and analysis, in the strategy implementation stage. It was decided to present the practices used by the companies that are representing the biggest percentage of the sample – a classical and a visionary strategic approach and to analyse their similarities as well as the differences. Research aims. Its purpose is to present and analyse the differences in the process of risk consideration in organisations representing different types of strategic approach – classical and visionary. Methodology. The conducted research was based on the qualitative research method using case studies. It is a part of a broader research on operational risk associated with the strategy implementation, conducted on 150 companies listed on the Warsaw Stock Exchange, operating in different industries. The sample was chosen because the presence on the stock exchange requires formulating precise strategies and associated strategic objectives, as well as reporting the progress in their implementation. It may be assumed that the companies listed on the WSE pay much attention to controlling the strategy implementation process and the issue of risk associated is an important aspect. Key findings. The research results show that the two strategic approaches differ in analyzed aspects of operational risk management. Especially surprising is the level of their formalisation, contradictory to the initial assumptions. It was assumed that the visionary approach is more informal and based rather on the scenario planning, while the classical approach seem more formal and regular. The cases described showed the opposite characteristics of approaches.
|Other language title versions||Różnice w uwzględnianiu ryzyka operacyjnego w trakcie realizacji strategii w przypadku klasycznego i wizjonerskiego podejścia strategicznego|
|Journal series||International Journal of Contemporary Management, [Współczesne Zarządzanie. Kwartalnik Środowisk Naukowych i Liderów Biznesu], ISSN 1643-5494, e-ISSN 2449-8939, (B 14 pkt)|
|Publication size in sheets||0.65|
|Keywords in Polish||ryzyko operacyjne, implementacja strategii, klasyczne i wizjonerskie podejście strategiczne|
|Keywords in English||operational risk, strategy implementation, classical and visionary strategic approach|
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