The Utilization of Lean Management Tools in the Application of Risk Management Methods According to ISO 31000:2018

Emil Ratter, Magdalena Kalbarczyk and Katarzyna Pietrzyk-Wiszowaty

European Research Studies Journal, 2024, vol. XXVII, issue 1, 65-81

Abstract: Purpose: The article juxtaposes risk management methods according to ISO 31000:2018 with selected Lean Management tools to identify potential enhancements for rendering these methods more effective for enterprises. Design/Methodology/Approach: The objective of the research was the identification of Lean Management tools that could serve as support for risk management methods according to ISO 31000:2018. The theoretical-cognitive aim involved a substantive review of subject literature and scientific works within the broad spectrum of risk management. The analysis of the presented problem allowed for the recognition of previously unidentified potential within selected Lean Management tools to enhance the risk management methods outlined in ISO 31000:2018. Findings: The generated conclusions will enable enterprises utilizing ISO 31000:2018 to increase the likelihood of the effectiveness of their risk management methods, as they will be enriched with selected Lean Management tools. Practical Implications: Lean Management tools have been presented in a form conducive to their practical application in enterprises employing risk management methods according to ISO 31000:2018. The conceptual work's outcome includes recommendations for enterprises utilizing risk management methods according to ISO 31000:2018, concerning the feasibility of implementing these methods with selected Lean Management tools. Originality/Value: The authors present the possibilities of utilizing selected Lean Management tools in enterprises employing risk management methods according to ISO 31000:2018. The implementation of the presented Lean Management tools requires actions leading to certain changes in the functioning of the enterprise, which may contribute to reducing the likelihood of undesirable events.

Keywords: Lean Management tools; Lean Management; risk; risk management; ISO 31000. (search for similar items in EconPapers)
JEL-codes: D81 G32 L15 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxvii:y:2024:i:1:p:65-81

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