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Putting risk management into the corporate sustainability context

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dc.contributor.author Haywood, Lorren K
dc.date.accessioned 2022-02-21T07:58:09Z
dc.date.available 2022-02-21T07:58:09Z
dc.date.issued 2021-10
dc.identifier.citation Haywood, L.K. 2021. Putting risk management into the corporate sustainability context. <i>Social Responsibility Journal.</i> http://hdl.handle.net/10204/12280 en_ZA
dc.identifier.issn 1747-1117
dc.identifier.issn 1758-857X
dc.identifier.uri https://doi.org/10.1108/SRJ-06-2019-0201
dc.identifier.uri http://hdl.handle.net/10204/12280
dc.description.abstract Purpose: This research investigates what is driving corporate sustainability within South African organisations and to what extent these drivers intersect with risk management. This is important as new and emerging business risks are proving to be directly linked to sustainability issues having implication on long-term organisational performance. This implies that sustainability and risk should not be mutually exclusive. Design/methodology/approach: By means of semi-structured interviews, sustainability managers of 11 South African organisations were engaged to gain insight relating to the immediate sustainability issues, risk landscape and the possible intersection between these issues within their organisations. Questions posed were around drivers of sustainability, risks to an organisation, changes in risks, relationship between sustainability and risk. By means of thematic analysis key issues emerging from the responses of the sustainability managers could be identified and themes determined based on similarities. This was followed by trend analysis of the frequency of responses to different sustainability and risk themes to interpret the data. Findings: Results reveal that sustainability and risk management are similar in their intent purpose and output both aligned towards reducing impacts and managing uncertainty. However even though sustainability has increasingly become integral to business its value contribution and linkage with risk management differ significantly amongst organisations. This suggests that sustainability and risk management remain two distinct frameworks for managing uncertainty in business. Originality/value: Research on integrating a sustainability perspective in risk management is at an early stage. To understand and respond to emerging risks, organisations need to integrate sustainability and risk management into their decision strategies – not only to minimize potential losses but also to exploit new business opportunities arising from the sustainability agenda. Future research should be directed towards advancing systematic methods for identifying and managing sustainability risks such that key sustainability challenges are firmly embedded in the risk management of the business. In this regard, organisations would be in a position to build resilience into their business models and operations. en_US
dc.format Abstract en_US
dc.language.iso en en_US
dc.relation.uri https://www.emerald.com/insight/content/doi/10.1108/SRJ-06-2019-0201/full/html en_US
dc.source Social Responsibility Journal en_US
dc.subject Emerging risks en_US
dc.subject Corporate sustainability en_US
dc.subject Risk management en_US
dc.title Putting risk management into the corporate sustainability context en_US
dc.type Article en_US
dc.description.pages 20 en_US
dc.description.note © 2021 Emerald Publishing Limited. Due to copyright restrictions, the attached PDF file only contains the abstract of the full text item. For access to the full text item, please consult the publisher's website: https://doi.org/10.1108/SRJ-06-2019-0201 en_US
dc.description.cluster Smart Places en_US
dc.description.impactarea Sustainable Econs and Waste en_US
dc.identifier.apacitation Haywood, L. K. (2021). Putting risk management into the corporate sustainability context. <i>Social Responsibility Journal</i>, http://hdl.handle.net/10204/12280 en_ZA
dc.identifier.chicagocitation Haywood, Lorren K "Putting risk management into the corporate sustainability context." <i>Social Responsibility Journal</i> (2021) http://hdl.handle.net/10204/12280 en_ZA
dc.identifier.vancouvercitation Haywood LK. Putting risk management into the corporate sustainability context. Social Responsibility Journal. 2021; http://hdl.handle.net/10204/12280. en_ZA
dc.identifier.ris TY - Article AU - Haywood, Lorren K AB - Purpose: This research investigates what is driving corporate sustainability within South African organisations and to what extent these drivers intersect with risk management. This is important as new and emerging business risks are proving to be directly linked to sustainability issues having implication on long-term organisational performance. This implies that sustainability and risk should not be mutually exclusive. Design/methodology/approach: By means of semi-structured interviews, sustainability managers of 11 South African organisations were engaged to gain insight relating to the immediate sustainability issues, risk landscape and the possible intersection between these issues within their organisations. Questions posed were around drivers of sustainability, risks to an organisation, changes in risks, relationship between sustainability and risk. By means of thematic analysis key issues emerging from the responses of the sustainability managers could be identified and themes determined based on similarities. This was followed by trend analysis of the frequency of responses to different sustainability and risk themes to interpret the data. Findings: Results reveal that sustainability and risk management are similar in their intent purpose and output both aligned towards reducing impacts and managing uncertainty. However even though sustainability has increasingly become integral to business its value contribution and linkage with risk management differ significantly amongst organisations. This suggests that sustainability and risk management remain two distinct frameworks for managing uncertainty in business. Originality/value: Research on integrating a sustainability perspective in risk management is at an early stage. To understand and respond to emerging risks, organisations need to integrate sustainability and risk management into their decision strategies – not only to minimize potential losses but also to exploit new business opportunities arising from the sustainability agenda. Future research should be directed towards advancing systematic methods for identifying and managing sustainability risks such that key sustainability challenges are firmly embedded in the risk management of the business. In this regard, organisations would be in a position to build resilience into their business models and operations. DA - 2021-10 DB - ResearchSpace DP - CSIR J1 - Social Responsibility Journal KW - Emerging risks KW - Corporate sustainability KW - Risk management LK - https://researchspace.csir.co.za PY - 2021 SM - 1747-1117 SM - 1758-857X T1 - Putting risk management into the corporate sustainability context TI - Putting risk management into the corporate sustainability context UR - http://hdl.handle.net/10204/12280 ER - en_ZA
dc.identifier.worklist 25384 en_US


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