Abstract
In this study, it was aimed to research the levels of corporate risk management application in businesses operating in Manisa. For this purpose, a survey was conducted to investigate the awareness of corporate risk management of businesses in Manisa Organized Industrial Zone. The survey results were evaluated by multidimensional scaling and correspondence analysis. Corporate risk management managers of 56 businesses participated in the survey. According to findings, it is found that the corporate risk management practices of businesses are at Level 4, but there is a lack in which guidance or standard is adapted. Also, while corporate risk management can be mentioned as a formal and rules-based risk management process in businesses carried out by internal auditors, it is observed that there is no specific risk management process in businesses where other (board of directors, CEO, human resources, occupational health, and safety specialist, external support) are responsible. Besides, it is determined that there are no businesses with the COSO corporate risk management guidance published by the United States that could be adapted to large businesses among the businesses that responded to the survey.
Highlights
The concept of risk is defined as “the danger of suffering a loss” in the Dictionary of the Turkish Language Association
This study aims is to determine the level of corporate risk management practices of large businesses operating in Manisa Organized Industrial Zone
The fact that the stress value is in the range of 0.05 - 0.10 means that the real distances and the distances obtained as a result of multidimensional scaling show "good correspondence" with each other
Summary
The concept of risk is defined as “the danger of suffering a loss” in the Dictionary of the Turkish Language Association. According to these definitions, the risk is the probability of the occurence of a decline in assets of management and, when the degree of this probability increases, the degree of the risk might be higher. The risk is the probability of the occurence of a decline in assets of management and, when the degree of this probability increases, the degree of the risk might be higher In another definition of the risk made by Derici et. Al., (2007), it is expressed as threats (negativities) which may be faced with in the future and that may prevent the realization of goals or the opportunities that may ease to reach the achievement of the goals This definiton illustrates the fact that the risk entails the danger as well as opportunities.
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