Loss Control and Loss Control Strategies in SMMEs Operating in a Developing Country: A Literature Review
Luyolo Siwangaza and
Additional contact information
Juan-PierrÃ© Bruwer: Graduate Center of Management, Cape Peninsula University of Technology, Cape Town, South Africa
Luyolo Siwangaza: Cape Peninsula University of Technology, Cape Town, South Africa
YolandÃ© Smit: Higher College of Technology Abu Dhabi Womenâ€™s Campus, United Arab Emirates
Expert Journal of Business and Management, 2018, vol. 6, issue 1, 1-11
A large proportion of South African Small, Medium and Micro Enterprises (SMMEs) make use of customised internal control initiatives and customised risk management practices to mitigate and/or manage risks, to provide reasonable assurance regarding the attainment of objectives in the foreseeable future. According to research studies however, the aforementioned internal control initiatives and risk management practices are deemed to be inadequate and/or ineffective. This is especially the case as these business entities are predominantly focused on preventing generic risks in relation to the safeguarding of assets and independent checks, while ignoring key risks which may be detrimental to the attainment of their objectives. Since approximately 70% of South African SMMEs fail after being in existence less than four years it is highly probable that these business entities are not paying enough attention to mitigate and/or manage key risks (potential loss events) and controlling actual loss events. Hence, this exploratory study places emphasis on theoretically investigating loss control and sound loss control strategies evident in South African SMMEs.
JEL-codes: M10 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:exp:bsness:v:6:y:2018:i:1:p:1-11
Access Statistics for this article
More articles in Expert Journal of Business and Management from Sprint Investify
Bibliographic data for series maintained by Alin Opreana ().