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An Exploratory Study of Enterprise Risk Management in Northern Europe

Siyu Wu and Xiaosong Zheng
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Siyu Wu: Shanghai University, China
Xiaosong Zheng: Tallinn University of Technology, Estonia

Journal of Applied Management and Investments, 2016, vol. 5, issue 4, 280-289

Abstract: Northern Europe is one of the richest regions in the world. These countries produce many famous top 500 enterprises and business culture in Nordic countries is highly regarded worldwide, which features flat hierarchy, equity, honesty and uprightness. Nordic companies also have outstanding risk management capability because they recovered from financial crisis quickly after adjusting strategies. As a result, business models of these Nordic companies become preferred models being studied by scholars. This paper aims to analyze advanced risk management culture and risk management skills in Nordic countries. The paper will first discuss definitions of risk management. Then Nordic management style and risk management models will be presented and discussed. Furthermore, Nordic enterprises risk management case studies are carefully conducted. Finally, conclusion and suggestions are made at the end of the paper.

Keywords: Nordic company; risk management; risk culture (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:ods:journl:v:5:y:2016:i:4:p:280-289