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Investigation of Risks and Risk Management Practices in The Fast-Moving Consumer Goods Sector in Turkey with an Interview Study

Yıl 2024, Cilt: 21 Sayı: 2, 109 - 120, 01.04.2024
https://doi.org/10.26466/opusjsr.1398921

Öz

In this study, it is aimed to examine the risks and risk management practices in the fast-moving consumer goods sector in Turkey through an interview study. In the study, semi-structured interviews were conducted with managers of businesses that produce and market fast-moving consumer goods. Five participants were interviewed from the audit unit, 15 from the finance-financial affairs unit, 10 from the general responsibility unit, three from the risk management, six from sales and one from the production unit. The risks that are considered critical for companies, the management of these risks, the risks posed by the pandemic, and the positions taken by companies regarding insurance, which is a risk management tool, were analyzed. 23 company officials who participated in the research stated that they had no risks that were not insured and that the necessary insurance was made for all risks. 29 company officials participating in the research stated that they received insurance brokerage services. 18 of those who receive insurance services work with one or more agencies, and 11 companies receive brokerage services. Representatives of 8 companies participating in the study stated that they did not know whether intermediary services were received or did not want to answer.

Kaynakça

  • Arnold, G. (2013). Financial times handbook of corporate finance: A business companion to financial markets, decisions and techniques. Pearson UK.
  • Bodicha, H. H. (2015) How to measure the effect of project risk management process on the success of construction projects: A critical literature review, The international Journal of Business & Management, 3(12), 99-112.
  • Borio, C., Claessens, S., & Tarashev, N. A. (2023). Finance and climate change risk: Managing expectations. In EconPol Forum (Vol. 24, No. 1, pp. 5-7). Munich: CESifo GmbH.
  • Bottani, E., & Rizzi, A. (2008). Economical assessment of the impact of RFID technology and EPC system on the fast-moving consumer goods supply chain. International journal of production economics, 112(2), 548-569.
  • Chakabva, O., Tengeh, R., Dubihlela, J. (2021). Factors inhibiting effective risk management in emerging market SMEs. J. Risk Financ. Manag. 14 (6), 231.
  • Chakabva, O., & Dubihlela, J. (2020). Risk management as a tool to enhance the sustainability of fast-moving consumer goods SMES in South Africa. The Journal of Accounting and Management, 10(3).
  • Chodokufa, K. (2016). Risk management practices and the purchase of insurance by SMEs. Risk Gov. Control.: Financ. Mark. Inst. 6 (3), 100–104.
  • Çobanoğlu, H. O. ve Sevil, G. (2013). Sporda risk yönetimi: Üst düzey futbolcuların risk değerlendirmeleri üzerine bir araştırma. CBÜ Beden Eğitimi ve Spor Bilimleri Dergisi, 8(2), 1-15.
  • Dey, P.K. (2002) Project risk management: A combined analytic hierarchy process and decision tree approach. Cost Engineering, 44(3), 14 – 26.
  • Diehl, D. (2012). Supply chain risk management: a case study in the fast-moving consumer goods industry (Doctoral dissertation, WHU-Otto Beisheim School of Management).
  • Diehl, D., & Spinler, S. (2013). Defining a common ground for supply chain risk management–A case study in the fast-moving consumer goods industry. International Journal of Logistics Research and Applications, 16(4), 311-327.
  • Dubihlela, J., Chakabva, O., & Tengeh, R. (2021). A risk management framework for fast moving consumer goods retailers in South Africa. FORCE: Focus on Research in Contemporary Economics, 2(1), 4-40.
  • Dubihlela, J., Nqala, L., (2017). Internal controls systems and the risk performance characterizing small and medium manufacturing firms in the Cape Metropole. Int. J. Bus. Manag. Stud. 9 (2), 87–103.
  • Ellegaard, C. (2008). Supply risk management in a small company perspective. Supply Chain Management: An International Journal, 13(6), 425-434.
  • Hermanson, D. R., & Rittenberg, L. E. (2003). Internal audit and organizational governance. Research opportunities in internal auditing, 1(1), 25-71.
  • Hillson, D. (Ed.). (2023). The Risk Management Handbook: A practical guide to managing the multiple dimensions of risk. Kogan Page Publishers.
  • Hopkin, P. (2018). Fundamentals of Risk Management Understanding, Evaluating and Implementing Effective Risk Management. London Kogan Page Publishers.
  • Kamakela, J. S., Callychurn, D., & Hurreeram, D. (2023). Assessing digital technology and analytics for risk management: Focus on Fast Moving Consumer Goods (FMCG) manufacturing firms in Mauritius. Materials Today: Proceedings.
  • Mayo, H. B. (2001). Financial institutions, investments, and management: An introduction. South Western Educational Publishing.
  • Nemtajela, N., & Mbohwa, C. (2017). Relationship between inventory management and uncertain demand for fast moving consumer goods organisations. Procedia Manufacturing, 8, 699-706.
  • Olson, D. L., & Wu, D. (2023). Sustainability and enterprise risk management. In Enterprise Risk Management Models: Focus on Sustainability (pp. 205-231). Berlin, Heidelberg: Springer Berlin Heidelberg.
  • Outreville, J. F. (2021). Insurance and foreign direct investment: a review (or lack) of evidence. The Geneva Papers on Risk and Insurance - Issues and Practice, 46(2), 236-247.
  • Pham, H. T., Pham, T., Truong Quang, H., & Dang, C. N. (2023). Supply chain risk management research in construction: a systematic review. International Journal of Construction Management, 23(11), 1945-1955.
  • Ricardianto, P., Lembang, A., Tatiana, Y., Ruminda, M., Kholdun, A., Kusuma, I., ... & Endri, E. (2023). Enterprise risk management and business strategy on firm performance: The role of mediating competitive advantage. Uncertain Supply Chain Management, 11(1), 249-260.
  • Schulte, J., & Knuts, S. (2022). Sustainability impact and effects analysis-A risk management tool for sustainable product development. Sustainable Production and Consumption, 30, 737-751.
  • Sen, I. (2023). Regulatory limits to risk management. The Review of Financial Studies, 36(6), 2175-2223.
  • Yılmaz, K., & Turanlı, M. (2023). A Multi-disciplinary Investigation of Linearization Deviations in Different Regression Models. Asian Journal of Probability and Statistics, 22(3), 15-19.
  • Yılmaz, K., & Turanlı, M. (2022). Türkiye’de Katılım Bankalarının Finansal Performanslarının Hane Halkı Gelir Grupları İle İlişkisi. İşletme Araştırmaları Dergisi, 14(4), 2785-2795.
  • Yim, R. Castaneda, J. Doolen, T, Turner. I, & Malak, R. (2014) A study of project classification on project risk indicators. International Journal of Project Management 33, 863 – 876.
  • Ylönen, M., & Aven, T. (2023). A new perspective for the integration of intelligence and risk management in a customs and border control context. Journal of Risk Research, 26(4), 433-449.
  • Yuliawati, E., & Brilliana, C. W. (2022). Linkages analysis risk factors of the return process in logistics fast moving consumer goods. Jurnal Sistem dan Manajemen Industri, 6(2), 198-110.
  • Yun, J. (2023). The effect of enterprise risk management on corporate risk management. Finance Research Letters, July 2023, 103950.
  • Zhu, D., Li, Z., & Mishra, A. R. (2023). Evaluation of the critical success factors of dynamic enterprise risk management in manufacturing SMEs using an integrated fuzzy decision-making model. Technological Forecasting and Social Change, 186, 122137.
  • Zulfikar, R., & Mayvita, P. A. (2018). The relationship of perceived value, perceived risk, and level of trust towards green products of fast moving consumer goods purchase intention. JEMA: Jurnal Ilmiah Bidang Akuntansi dan Manajemen, 15(2), 85-97.

Türkiye’de Hızlı Tüketim Ürünleri Sektöründeki Riskler ve Risk Yönetimi Uygulamalarının Mülakat Çalışması İle İncelenmesi

Yıl 2024, Cilt: 21 Sayı: 2, 109 - 120, 01.04.2024
https://doi.org/10.26466/opusjsr.1398921

Öz

Bu çalışmada, Türkiye’de hızlı tüketim ürünleri sektöründeki riskler ve risk yönetimi uygulamalarının mülakat çalışması ile incelenmesi amaçlanmıştır. Çalışmada, hızlı tüketim ürünleri üreten ve pazarlayan işletmelerin yöneticileri ile yarı yapılandırılmış mülakat yapılmıştır. Mülakata denetim biriminden 5, finans-mali işler biriminden 15, genel sorumluluk biriminden 10, risk yönetiminden 3, satıştan 6 ve üretim biriminden bir katılımcı alınmıştır. Firmalar için kritik önemde görülen riskler, bu risklerin yönetimi, pandeminin oluşturduğu riskler, bir risk yönetim aracı olan sigorta ile ilgili firmaların aldıkları pozisyonlar analiz edilmiştir. Araştırmaya katılan 23 firma yetkilisi sigorta ettirilmeyen riskleri olmadığını ve tüm riskleri için gerekli sigortaların yapıldığını ifade etmiştir. Araştırmaya katılan 29 firma yetkilisi sigortacılık aracılık hizmeti aldıklarını belirtmişlerdir. Sigortacılık hizmeti alanların 18’si bir ya da birden çok acente ile çalışmakta olup, 11 firma brokerlik hizmeti almaktadır. Çalışmaya katılan 8 firmanın yetkilisi aracılık hizmeti alınıp alınmadığını bilmediklerini ya da cevap vermek istemediklerini belirtmişlerdir.

Kaynakça

  • Arnold, G. (2013). Financial times handbook of corporate finance: A business companion to financial markets, decisions and techniques. Pearson UK.
  • Bodicha, H. H. (2015) How to measure the effect of project risk management process on the success of construction projects: A critical literature review, The international Journal of Business & Management, 3(12), 99-112.
  • Borio, C., Claessens, S., & Tarashev, N. A. (2023). Finance and climate change risk: Managing expectations. In EconPol Forum (Vol. 24, No. 1, pp. 5-7). Munich: CESifo GmbH.
  • Bottani, E., & Rizzi, A. (2008). Economical assessment of the impact of RFID technology and EPC system on the fast-moving consumer goods supply chain. International journal of production economics, 112(2), 548-569.
  • Chakabva, O., Tengeh, R., Dubihlela, J. (2021). Factors inhibiting effective risk management in emerging market SMEs. J. Risk Financ. Manag. 14 (6), 231.
  • Chakabva, O., & Dubihlela, J. (2020). Risk management as a tool to enhance the sustainability of fast-moving consumer goods SMES in South Africa. The Journal of Accounting and Management, 10(3).
  • Chodokufa, K. (2016). Risk management practices and the purchase of insurance by SMEs. Risk Gov. Control.: Financ. Mark. Inst. 6 (3), 100–104.
  • Çobanoğlu, H. O. ve Sevil, G. (2013). Sporda risk yönetimi: Üst düzey futbolcuların risk değerlendirmeleri üzerine bir araştırma. CBÜ Beden Eğitimi ve Spor Bilimleri Dergisi, 8(2), 1-15.
  • Dey, P.K. (2002) Project risk management: A combined analytic hierarchy process and decision tree approach. Cost Engineering, 44(3), 14 – 26.
  • Diehl, D. (2012). Supply chain risk management: a case study in the fast-moving consumer goods industry (Doctoral dissertation, WHU-Otto Beisheim School of Management).
  • Diehl, D., & Spinler, S. (2013). Defining a common ground for supply chain risk management–A case study in the fast-moving consumer goods industry. International Journal of Logistics Research and Applications, 16(4), 311-327.
  • Dubihlela, J., Chakabva, O., & Tengeh, R. (2021). A risk management framework for fast moving consumer goods retailers in South Africa. FORCE: Focus on Research in Contemporary Economics, 2(1), 4-40.
  • Dubihlela, J., Nqala, L., (2017). Internal controls systems and the risk performance characterizing small and medium manufacturing firms in the Cape Metropole. Int. J. Bus. Manag. Stud. 9 (2), 87–103.
  • Ellegaard, C. (2008). Supply risk management in a small company perspective. Supply Chain Management: An International Journal, 13(6), 425-434.
  • Hermanson, D. R., & Rittenberg, L. E. (2003). Internal audit and organizational governance. Research opportunities in internal auditing, 1(1), 25-71.
  • Hillson, D. (Ed.). (2023). The Risk Management Handbook: A practical guide to managing the multiple dimensions of risk. Kogan Page Publishers.
  • Hopkin, P. (2018). Fundamentals of Risk Management Understanding, Evaluating and Implementing Effective Risk Management. London Kogan Page Publishers.
  • Kamakela, J. S., Callychurn, D., & Hurreeram, D. (2023). Assessing digital technology and analytics for risk management: Focus on Fast Moving Consumer Goods (FMCG) manufacturing firms in Mauritius. Materials Today: Proceedings.
  • Mayo, H. B. (2001). Financial institutions, investments, and management: An introduction. South Western Educational Publishing.
  • Nemtajela, N., & Mbohwa, C. (2017). Relationship between inventory management and uncertain demand for fast moving consumer goods organisations. Procedia Manufacturing, 8, 699-706.
  • Olson, D. L., & Wu, D. (2023). Sustainability and enterprise risk management. In Enterprise Risk Management Models: Focus on Sustainability (pp. 205-231). Berlin, Heidelberg: Springer Berlin Heidelberg.
  • Outreville, J. F. (2021). Insurance and foreign direct investment: a review (or lack) of evidence. The Geneva Papers on Risk and Insurance - Issues and Practice, 46(2), 236-247.
  • Pham, H. T., Pham, T., Truong Quang, H., & Dang, C. N. (2023). Supply chain risk management research in construction: a systematic review. International Journal of Construction Management, 23(11), 1945-1955.
  • Ricardianto, P., Lembang, A., Tatiana, Y., Ruminda, M., Kholdun, A., Kusuma, I., ... & Endri, E. (2023). Enterprise risk management and business strategy on firm performance: The role of mediating competitive advantage. Uncertain Supply Chain Management, 11(1), 249-260.
  • Schulte, J., & Knuts, S. (2022). Sustainability impact and effects analysis-A risk management tool for sustainable product development. Sustainable Production and Consumption, 30, 737-751.
  • Sen, I. (2023). Regulatory limits to risk management. The Review of Financial Studies, 36(6), 2175-2223.
  • Yılmaz, K., & Turanlı, M. (2023). A Multi-disciplinary Investigation of Linearization Deviations in Different Regression Models. Asian Journal of Probability and Statistics, 22(3), 15-19.
  • Yılmaz, K., & Turanlı, M. (2022). Türkiye’de Katılım Bankalarının Finansal Performanslarının Hane Halkı Gelir Grupları İle İlişkisi. İşletme Araştırmaları Dergisi, 14(4), 2785-2795.
  • Yim, R. Castaneda, J. Doolen, T, Turner. I, & Malak, R. (2014) A study of project classification on project risk indicators. International Journal of Project Management 33, 863 – 876.
  • Ylönen, M., & Aven, T. (2023). A new perspective for the integration of intelligence and risk management in a customs and border control context. Journal of Risk Research, 26(4), 433-449.
  • Yuliawati, E., & Brilliana, C. W. (2022). Linkages analysis risk factors of the return process in logistics fast moving consumer goods. Jurnal Sistem dan Manajemen Industri, 6(2), 198-110.
  • Yun, J. (2023). The effect of enterprise risk management on corporate risk management. Finance Research Letters, July 2023, 103950.
  • Zhu, D., Li, Z., & Mishra, A. R. (2023). Evaluation of the critical success factors of dynamic enterprise risk management in manufacturing SMEs using an integrated fuzzy decision-making model. Technological Forecasting and Social Change, 186, 122137.
  • Zulfikar, R., & Mayvita, P. A. (2018). The relationship of perceived value, perceived risk, and level of trust towards green products of fast moving consumer goods purchase intention. JEMA: Jurnal Ilmiah Bidang Akuntansi dan Manajemen, 15(2), 85-97.
Toplam 34 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finansal Risk Yönetimi
Bölüm Research Articles
Yazarlar

Recep Şababoğlu 0009-0009-6435-1946

Ünal Halit Özden 0000-0003-0924-4848

Erken Görünüm Tarihi 1 Nisan 2024
Yayımlanma Tarihi 1 Nisan 2024
Gönderilme Tarihi 1 Aralık 2023
Kabul Tarihi 23 Şubat 2024
Yayımlandığı Sayı Yıl 2024 Cilt: 21 Sayı: 2

Kaynak Göster

APA Şababoğlu, R., & Özden, Ü. H. (2024). Investigation of Risks and Risk Management Practices in The Fast-Moving Consumer Goods Sector in Turkey with an Interview Study. OPUS Journal of Society Research, 21(2), 109-120. https://doi.org/10.26466/opusjsr.1398921