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1860798332608184320
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INTELEK Repository
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Online Access
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https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3
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Copyright©PWB2025
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Malaysia
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2024-10-21 06:29
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General Document
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17255
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UniSZA
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17255_a565331f7c5af97.pdf
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Siti Nadhirah Binti Mohamad Fauzi
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oai_dc
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https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17255
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Server storage
Scanned document
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17255 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=17255 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Informatics & Computing English application/pdf 1.6 Server storage Scanned document UniSZA Private Access UniSZA Risk Assessment Copyright©PWB2025 299 Mathematical Modelling Small And Medium-Sized Enterprises (SMEs) UniSZA Siti Nadhirah Binti Mohamad Fauzi Enterprise Risk Management (ERM) Risk Index Formulation Start-up Enterprises Business Risk Analysis Statistical Modelling Organisational Risk Factors Quantitative Risk Evaluation 2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises Introduction: There are many start-up entrepreneurs who struggle to sustain their businesses within the first five years, and some end up failing. This is due to the diverse risks and challenges they faced during their entrepreneurial journeys. Risk management is essential for entrepreneurs who want to manage risks effectively. The index is used in risk management to develop measurement tools. However, the existing risk management index is only suitable for measuring business performance. Thus, this study aims to develop a new tool for measuring risk levels for start-up businesses. Methodology: The primary goal of this research is to propose a new mathematical formulation of enterprise risk management index for start-up businesses in small and medium enterprises. To begin with, it is necessary to identify the significant risk factors associated with start-up businesses in small and medium enterprises and determine their weighting. The study involved expert interviews to pinpoint significant risk factors for start-up businesses in small and medium enterprises and evaluate their weightage. Nine entrepreneurs were selected from three well-established industries, namely the Traditional Food Industry (such as fish crackers and flying bread), the Batik Industry, and the Coffee Industry. The gathered data was analysed using Thematic Analysis and Code-Document Table in Atlas ti. software. A quantitative approach was employed to validate the weightage of each risk factor identified qualitatively using the Fuzzy Delphi Method. About twenty-one sets of questionnaires were distributed among entrepreneurs from East Coast of Peninsular Malaysia. Finally, an enterprise risk management index for start-up businesses in small and medium enterprises has been developed by applying a mathematical formulation and incorporating the weightage derived from this study. Result: Five significant risk factors have been identified in start-up businesses within small and medium enterprises: Entrepreneurial Traits, Strategic Risk, Financial Risk, Operational Risk, and Political Risk. According to the weightage order, Entrepreneurial Traits held the most significant weight at five, indicating high significance. By contrast, Political Risk has been assigned a weight of one, indicating its relatively least significance. Using quantitative method, it is confirmed that the risk factors is weighted accordingly. This study successfully created a new mathematical formulation for the enterprise risk management index with weightage and index number of each risk factor for start-up businesses. A crucial indicator for start-up businesses was also developed, which serves as a guideline for entrepreneurs in assessing their readiness levels. Conclusion: The significant risk factors identified in this study and their weightage can be useful guidelines for entrepreneurs, government authorities, and investors when making decisions relating to start-up businesses in small and medium enterprises. In addition, entrepreneurs in small and medium enterprises throughout Malaysia can benefit from this new risk index formulation. They can measure their readiness to begin their businesses by using the proposed mathematical formulation of the enterprise risk management index. As a result, they will be better prepared to begin their new business. Besides, the findings will contribute to the development of alternative risk management tools specifically tailored to start-up businesses in small and medium enterprises. 2024-10-21 06:29 uuid:3c71513a-dd99-42e1-b808-57ff79871b22 17255_a565331f7c5af97.pdf Adobe PDF Library 21.1.174 24 Thesis
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| spellingShingle |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
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| state |
Terengganu
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| subject |
24
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| summary |
Introduction: There are many start-up entrepreneurs who struggle to sustain their businesses within the first five years, and some end up failing. This is due to the diverse risks and challenges they faced during their entrepreneurial journeys. Risk management is essential for entrepreneurs who want to manage risks effectively. The index is used in risk management to develop measurement tools. However, the existing risk management index is only suitable for measuring business performance. Thus, this study aims to develop a new tool for measuring risk levels for start-up businesses. Methodology: The primary goal of this research is to propose a new mathematical formulation of enterprise risk management index for start-up businesses in small and medium enterprises. To begin with, it is necessary to identify the significant risk factors associated with start-up businesses in small and medium enterprises and determine their weighting. The study involved expert interviews to pinpoint significant risk factors for start-up businesses in small and medium enterprises and evaluate their weightage. Nine entrepreneurs were selected from three well-established industries, namely the Traditional Food Industry (such as fish crackers and flying bread), the Batik Industry, and the Coffee Industry. The gathered data was analysed using Thematic Analysis and Code-Document Table in Atlas ti. software. A quantitative approach was employed to validate the weightage of each risk factor identified qualitatively using the Fuzzy Delphi Method. About twenty-one sets of questionnaires were distributed among entrepreneurs from East Coast of Peninsular Malaysia. Finally, an enterprise risk management index for start-up businesses in small and medium enterprises has been developed by applying a mathematical formulation and incorporating the weightage derived from this study. Result: Five significant risk factors have been identified in start-up businesses within small and medium enterprises: Entrepreneurial Traits, Strategic Risk, Financial Risk, Operational Risk, and Political Risk. According to the weightage order, Entrepreneurial Traits held the most significant weight at five, indicating high significance. By contrast, Political Risk has been assigned a weight of one, indicating its relatively least significance. Using quantitative method, it is confirmed that the risk factors is weighted accordingly. This study successfully created a new mathematical formulation for the enterprise risk management index with weightage and index number of each risk factor for start-up businesses. A crucial indicator for start-up businesses was also developed, which serves as a guideline for entrepreneurs in assessing their readiness levels. Conclusion: The significant risk factors identified in this study and their weightage can be useful guidelines for entrepreneurs, government authorities, and investors when making decisions relating to start-up businesses in small and medium enterprises. In addition, entrepreneurs in small and medium enterprises throughout Malaysia can benefit from this new risk index formulation. They can measure their readiness to begin their businesses by using the proposed mathematical formulation of the enterprise risk management index. As a result, they will be better prepared to begin their new business. Besides, the findings will contribute to the development of alternative risk management tools specifically tailored to start-up businesses in small and medium enterprises.
|
| title |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
|
| title_full |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
|
| title_fullStr |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
|
| title_full_unstemmed |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
|
| title_short |
2024_A New Mathematical Formulation Of Enterprise Risk Management Index For Start-Up Businesses In Small And Medium-Sized Enterprises
|
| title_sort |
2024_a new mathematical formulation of enterprise risk management index for start-up businesses in small and medium-sized enterprises
|