Organizational Risk Management Research Articles

Optimizing the Role of the South Sulawesi Inspectorate in Handling Regional Government Supervision Issues to Achieve Transparency and Accountability

This research aims to gain understanding and offer solutions regarding the supervision of the South Sulawesi Provincial Inspectorate in the implementation of regional government. Apart from that, this research also aims to identify factors that influence the essence of Inspectorate supervision in regional government and understand the function of the South Sulawesi Provincial Inspectorate. This type of research uses a combined approach between normative legal research or doctrinal legal research (normative legal research) and empirical legal research or non-doctrinal legal research (socio-legal research). The research results show that the supervision of the South Sulawesi Provincial Inspectorate has not been optimal in the administration of regional government. Factors that influence Inspectorate supervision include institutions, budget and human resources. The Inspectorate's supervisory function through attribution, delegation and mandate has a strong basis, but it is necessary to strengthen regulations which are expected to have an impact on the supervision and evaluation mechanism of the South Sulawesi Provincial Inspectorate. And the recommendation in this research is to strengthen the accountability line of defense in coaching and supervision according to the three lines of defense concept, by optimizing risk management and internal control in regional apparatus organizations. Strengthening regulations to support the institutional independence of the Inspectorate, increasing supervisory budget allocations, as well as a system for recruiting competent, high integrity and professional auditors and strengthening regulations related to the function of the South Sulawesi Provincial Inspectorate and changes from the old paradigm to the new paradigm.

Exploring Cyber Insurance: A Strategic Shield against Modern Threats

In today’s digitally transformed global business ecosystem, organizations face unprecedented cybersecurity challenges that threaten their financial stability and reputation. As technological vulnerabilities grow increasingly complex and pervasive, cyber insurance has become a critical tool for risk mitigation. It provides comprehensive financial protection and robust support against the evolving landscape of digital threats. This research paper examines the multifaceted dimensions of cyber insurance by synthesizing theoretical insights and practical considerations. It explores the complex ecosystem of cyber insurance, focusing on its two primary coverage types: first-party protection, which addresses direct organizational losses, and third-party coverage, which manages external liabilities. Through a systematic analysis, the study delves into the fundamental components of cyber insurance, the intricate dynamics of the market, rigorous assessment methodologies, and its strategic importance within modern organizational risk management frameworks. The paper concludes by highlighting the potential of cyber insurance to do more than merely protect organizations. It argues that cyber insurance can actively support sustainable digital transformation, making it a crucial enabler of organizational resilience in an era of persistent and evolving technological challenges

RISK MANAGEMENT IN AGILE ORGANIZATION IN THE CONDITIONS OF MARKET GLOBALIZATION

The aim of the article is to analyze risk management in agile organizations operating in the conditions of market globalization. The hypothesis assumes that agile management methods enable more effective identification and minimization of risks resulting from dynamic global changes. The article presents key aspects of risk management, such as the identification of risks specific to different markets, currency fluctuations, cultural differences and climate change. A case study from Mercedes-Benz Mobility AG illustrates the practical application of agile risk management methods. The findings show that agile allows for rapid adaptation to changing market conditions, which increases the competitiveness and sustainability of the organization. The added value of the article is to provide practical tips for managers on the implementation of agile risk management strategies in a global context.

AI in Corporate Governance: Navigating Critical and Comfortable Aspects

Today Artificial Intelligence (AI) and related technologies have become a disruptive force in the market, impacting every aspect of a business. AI's roles in corporate governance (CG) practices are important; it, however, has to be seamlessly integrated for the desired outcomes. This research aims to assess the critical and comfortable aspects of AI for CG in organisations, specifically in the manufacturing sector. The research employed a qualitative strategy since the strategy aids in exploring a phenomenon comprehensively. In line with the qualitative strategy, semi-structured interviews with experts from the manufacturing industry were conducted as subject of this research. Thematic analysis was done on data using ten experts, ranging from China’s manufacturing industry. The findings reveal that AI is quite important for CG since it can improve all the parts of CG, focusing on risk management and decision-making. Interviews with experts emphasised that AI has facilitated rational decision-making and risk management in organisations. Yet the findings also showed that AI in CG was not quite without challenges, such as data quality, ethics and employee resistance. Nonetheless, appropriate mitigation strategies can be implemented, like robust data governance frameworks and training programs for employees that can make AI a critical aspect of CG and ensure that it is comfortably integrated into business operations. Overall, this research has significant managerial implications since it highlights the need for AI in CG by addressing the challenges faced with AI integration.

Construction and Optimization of Comprehensive Risk Management System of Enterprises

In the complex and changing market environment, the construction and optimization of enterprise comprehensive risk management system is crucial. This study clarifies the connotation and objectives of enterprise comprehensive risk management, analyzes the main risks faced by the enterprise and the reasons for them, and constructs a comprehensive risk management system including risk management organization structure, process and information system. In terms of risk prevention and control in key areas, specific measures are proposed for strategic, financial and market risks. Meanwhile, through risk management technology innovation, culture construction and capacity enhancement, the efficiency and accuracy of risk management have been improved, and the risk awareness and professional quality of all staff have been enhanced. In conclusion, the comprehensive risk management system of an enterprise is a systematic project, which requires the joint efforts of all departments to adapt to the market environment and provide guarantee for the sound development of the enterprise.

The Role of Digital Transformation in Enterprise Risk Management

This research aims to study and evaluate the mutual impact between digital transformation and risk management in organizations. While digital transformation offers significant benefits in terms of increased efficiency and innovation, it also presents new challenges related to risk management. The main findings of the research indicate the following: Complexity of the risk landscape: Digital transformation leads to a more complex digital environment, increasing the types and number of risks faced by organizations, such as cyberattacks and data breaches. New opportunities for risk management: Conversely, digital technologies provide advanced tools such as artificial intelligence and big data analytics, enabling organizations to detect threats earlier and respond more effectively. Importance of digital culture: Building a strong digital culture within the organization, where all employees are aware of digital risks and how to address them, is crucial. Integration of technology and management: Organizations must integrate technology into their risk management strategies, considering human and organizational factors. The research recommends the following Developing a comprehensive strategy: Organizations should develop a comprehensive strategy for digital risk management that covers all aspects, from technology to organizational culture.

Technology-Driven Financial Risk Management: Exploring the Benefits of Machine Learning for Non-Profit Organizations

This study explores how machine learning can optimize financial risk management for non-profit organizations by evaluating various algorithms aimed at mitigating loan default risks. The findings indicate that ensemble learning models, such as random forest and LightGBM, significantly improve prediction accuracy, thereby enabling non-profits to better manage financial risk. In the context of the 2008 subprime mortgage crisis, which underscored the volatility of financial markets, this research assesses a range of risks—credit, operational, liquidity, and market risks—while exploring both traditional machine learning and advanced ensemble techniques, with a particular focus on stacking fusion to enhance model performance. Emphasizing the importance of privacy and adaptive methods, this study advocates for interdisciplinary approaches to overcome limitations such as stress testing, data analysis rule formulation, and regulatory collaboration. The research underscores machine learning’s crucial role in financial risk control and calls on regulatory authorities to reassess existing frameworks to accommodate evolving risks. Additionally, it highlights the need for accurate data type identification and the potential for machine learning to strengthen financial risk management amid uncertainty, promoting interdisciplinary efforts that address broader issues like environmental sustainability and economic development.

Key organisational barriers to effective knowledge risk management in South African public sector enterprises

Purpose: The aim of this study was to delve into the obstacles preventing the effective management of tacit knowledge risks in South African public sector enterprises (PSEs) from the perspectives of human resource management (HRM) and knowledge management (KM).A perusal of the literature reveals that most South African PSEs are grappling with significant challenges related to potential tacit knowledge loss risks.Design/methodology/approach: The research utilised a mixed methods exploratory sequential design, collecting qualitative data through interviews with 20 HR managers in 9 PSEs and survey data from 585 questionnaires. The reliability of the data was tested, and thematic analysis was performed using Atlas.ti software.Findings: The study identified key barriers to effective tacit knowledge loss risk management in PSEs, including a silo mentality, organisational red-tape, knowledge as a power source, lack of recognition and rewards, KM awareness, cultures and structures, employment equity, fixed-term contracts, competing priorities for leadership, knowledge hoarding, HRM practices, and inadequate KM technologies and systems. These pressing issues need to be addressed to improve knowledge risk management (KRM) efforts in PSEs.Research limitations/implications:The exploration of organisational barriers was only limited to the tacit knowledge loss risks category, induced by human resource turnover in country-specific PSEs. Future studies could explore the organisational barriers and factors affecting other types of knowledge risks in PSEs or similar knowledge-intensive business enterprises across the globe using different samples and populations. Other similar studies could include strategic sectors of the economy such as energy generation, civil aviation, defence, mining and rail. The study contributes to the knowledge-based view and knowledge stickiness theories, and proposes an interdisciplinarity approach using mixed methods for future research on tacit knowledge loss.Practical implications: The research findings conclusively indicate that PSEs face the aforementioned barriers that hinder the effective implementation of the KRM system. This study identifies that key organisational barriers were mainly due to a lack of knowledge-driven HRM strategies in KM. To address these barriers, HR managers and other stakeholders must collaborate to ensure effective knowledge management and mitigate the negative impact of knowledge loss risks on organisational performance.Social Implications: The study highlights the importance of removing key barriers for improved KRM in PSEs. The improved KRM can enhance public service delivery efficiency, transparency and the accountability of PSEs by addressing socio-economic developmental issues in developing economies.Originality/value: Using South African PSEs as a case to address this challenge, the paper sought to explore key organisational barriers to effective knowledge loss risk management in organisations with a view to shaping discourse, policies, research, theories and practices in KM and HRM. Organisational barriers affecting the management of such risks remain unexplored in the extant body of knowledge and practice.

Comprehensive Analysis Of Background Screening Impact On Employee Experience And Organizational Outcomes

This comprehensive study examines the multifaceted impact of background checks on employee experience and organizational outcomes, with a particular focus on the implementation of a nationwide, standardized employment screening system. The research is guided by six interconnected themes: trust, transparency, fairness, diversity and inclusion, engagement, and retention. In the contemporary business landscape, background checks have transcended their traditional role as a mere formality, evolving into critical assets for enhancing employee satisfaction, organizational trust, and retention rates. This review synthesizes a wide array of studies to analyze the complex interplay between background screening practices and employer-employee relationships. It establishes robust evidence for how fair, transparent, and reasonable background checks can significantly enhance organizational commitment and employee loyalty. The results underscore the critical importance of awareness and transparency in the background check process, highlighting how these factors foster trust and perceptions of fairness, ultimately leading to positive employee attitudes and improved organizational outcomes. The study also delves into the potential adverse effects of excessive or biased background checks on workforce diversity, with a particular emphasis on historically marginalized groups and individuals with criminal records. It proposes that employers who embrace equality in the workplace and ensure that their background check processes are free from unlawful discrimination can cultivate and maintain a diverse, inclusive, and highperforming workforce. The implications for practice and research are far-reaching. To optimize employee experience and key outcomes such as organizational commitment, job satisfaction, and reduced turnover intention, employers must prioritize fairness, transparency, and inclusiveness in their background check processes. The study identifies critical areas for further research, including sector-specific effects of background screening practices and the impact of emerging technologies and data privacy concerns on background check processes. By reconceptualizing background checks as a strategic tool for building trust and enhancing employee commitment, rather than a mere compliance exercise, organizations can achieve superior outcomes across multiple dimensions of performance. This research provides a comprehensive framework for understanding and implementing effective background screening practices that balance organizational risk management with positive employee experiences.

Risk management technology in the public sector: challenges and opportunities

The paper examines the importance of using effective risk management methods in the public sector, emphasizing the need for an integrated approach to this problem. The author emphasizes that public management mechanisms must be supported by appropriate technologies to ensure sustainable functioning. The use of ISO 31000 and ISSAI 9100 standards helps structure the risk management process and increase its effectiveness. Risk management should be based on the identification, assessment and response to risks and take into account the influence of various factors on the risk management process. The author also notes that risk management in the public sector is complicated by certain factors (frequent management changes, division of operating budgets and programs, lack of clear risk indicators, etc.). The analysis of the issue demonstrates that the system of assessment, management and risk reduction should play a key role in public administration. The main task of risk management as an element of public management is to make effective decisions, create the necessary conditions and plan actions taking risks into account to minimize their negative impact on planned results. As a result of the use of risk management technologies, it is possible to identify risks, determine factors and sources of risk, assess the degree and probability of occurrence of hazards and, ultimately, develop an optimal plan of management actions. The results of the study demonstrate that the issue of forming a risk management mechanism in the public sector requires further scientific research on the application of theoretical developments in the practical activities of public management and administration bodies of Ukraine. The paper also focuses on the issue of risk management in public sector organizations, and concludes that in order to assess the value, type and impact of risk, it is necessary to review the internal part of the organization and its management processes, as well as its environment. Such a review of risks should be complemented by increased risk awareness at each level of the management hierarchy and in the day-to-day activities of all employees of the organization. Thus, the need to use modern risk management technologies in the public sector is outlined in order to increase the effectiveness of the decisions made and minimize the negative impact of potential risks on the results of the work of management bodies.

Digital age imperatives and firm internal control quality: evidence from CEOs personal trait and type of state-owned enterprises

PurposeIn the context of an evolving digital-based global economy, this study aims to investige the impact of digital transformation (DT) on a firm’s internal control (IC) quality. It also explores how the personal traits of (CEOs) – such as age, gender and educational background – intersect with DT to shape the IC quality in various types of state-owned enterprises (SOEs).Design/methodology/approachThe study uses the data from China A-shares non-financial enterprises, listed on Shanghai and Shenzhen stock exchanges between 2007 and 2020. Using the fixed effect regression method alongside various statistical techniques, such as propensity score matching, alternative analysis and instrumental variables analysis, yields robust findings. These methods effectively address issues related to functional form misspecification and potential biases from omitted explanatory variables.FindingsThe findings reveal a positive impact of DT on firm IC quality, and this impact is more pronounced in firms when the CEO is female, young and possesses a higher level of education. Notably, the study also distinguishes between central and local state-owned enterprises (SOEs), highlighting that DT has a greater influence on IC quality in central SOEs, where CEOs often have higher political ranks and closer to government monitoring. Overall, the findings are robust and consist to alternative variable and other statistical methods.Research limitations/implicationsFollowing are the significant implications for both academia and business. First, firms that effectively adopt DT to enhance IC not only gain a strategic advantage over competitors but also establish efficient risk management practices and a robust IC system. Second, better IC resulting from DT can enhance investor and stakeholder confidence. This is particularly important for publicly traded companies, where investors and analysts closely scrutinize the robustness of IC systems. Third, DT could result in cost savings over time, as automation and streamlined processes may reduce the need for manual efforts and resource-intensive tasks associated with IC.Originality/valueThe findings are contributed to the literature in multiple ways. It enhances our comprehension of the intricate DT-IC quality relationship, and provides valuable insights into the transformative impact of DT on organizational operations and risk management. It also introduces a novel perspective by investigating how CEOs personal traits intersect with DT to shape IC quality, contributing to upper echelons theory. Furthermore, it expands the discussions on firm ownership by considering the types of SOEs (central vs. local), in the DT-IC quality context.

ASSESSMENT OF COMPONENTS OF THE INTERNAL CONTROL SYSTEM FOR THE PURPOSE OF RISK MANAGEMENT OF ORGANIZATIONS

An effective internal control system is closely related to the risk management of the organization, namely, it reduces the risks of failure to achieve the set goals and, according to the COSO concept, provides reasonable assurance of their achievement. The subject of the study is the assessment of the components of the internal control system for the purpose of risk management of organizations. The object of the study is the internal control system of the organization. The article raises the problem of developing a methodology for assessing the formation of all components of the ICS in accordance with the COSO model. The problem lies in the insufficient number of studies on the systematization of control procedures for each component of the ICS in the context of assessing the system, describing standard and non-standard situations that must be responded to promptly and how to assess such situations in the context of internal control and risk management through qualitative indicators that are not measurable. Model. To substantiate the methodology for assessing the formation of all components of the ICS in accordance with the COSO model, the criterion for assessing and measuring non-financial indicators of financial stability of organizations is presented. The study uses the grouping method, which allows studying the interrelations of phenomena, as well as their interdependencies, to identify the influence of certain factors and trends. The article uses the comparative method as the most common method of analysis, as well as the methods of induction and synthesis. Conclusions. The methodology for assessing the formation of ICS components in accordance with the COSO model in organizations is of theoretical significance in terms of developing scientific and theoretical provisions concerning the construction of internal control and improving the effectiveness of ICS, as well as practical significance in the context of applying the developed package of documents. Practical significance. As a result, the methodology for assessing the formation of all ICS components in accordance with the COSO model was substantiated, a number of documents were developed that systematized the indicators for assessing the ICS components, including non-financial indicators. It is proposed to form a map of typical situations: standard and non-standard, as well as situations with increased complexity, allowing you to create new algorithms for action to reduce risk. Originality. The author's contribution is to develop a methodology for assessing the formation of all ICS components in accordance with the COSO model.

أثر تطبيق معايير إدارة المخاطر ISO 31000 على فعالية إدارة المخاطر في الشركات السعودية البتروكيماوية

This study investigates the impact of implementing ISO 31000 risk management standards on the effectiveness of risk management at Saudi petrochemical companies, a leading company in the petrochemical industry. ISO 31000 is a globally recognized framework that provides principles and guidelines for managing risks systematically and effectively. The study begins with an overview of the importance of risk management in large organizations, highlighting the challenges and risks faced by companies in a complex and dynamic environment. It then reviews ISO 31000 standards, including its core principles and framework aimed at improving the risk identification, assessment, and treatment processes. Additionally, the study examines the current risk management practices at Saudi petrochemical companies and evaluates how the application of ISO 31000 standards has influenced these practices. The research employs a methodology that includes collecting data through surveys and interviews with employees and risk management officials at the company, as well as analyzing relevant documents related to processes and policies. The findings indicate that the implementation of ISO 31000 has significantly enhanced the effectiveness of risk management at Saudi petrochemical companies. Notable benefits include improved risk identification and assessment accuracy, as well as the development of more effective risk treatment strategies. The standards also contributed to raising risk awareness within the company and fostering a more adaptive organizational culture capable of addressing new challenges. The study also identifies some challenges encountered during the application of the standards, such as the need for ongoing training and the development of advanced analytical tools. However, the benefits achieved outweigh these challenges, suggesting that investing in ISO 31000 implementation can be highly valuable for leading companies. Based on the results, the study recommends continuing to enhance the application of ISO 31000 across all departments within the company, developing regular training programs to ensure employee adherence to the standards, and further improving the tools and methods used in risk management to achieve optimal effectiveness. This study provides valuable insights into improving risk management in large organizations and offers practical models that other companies across various sectors can benefit from.

Financial Risk Management in Healthcare in the Provision of High-Tech Medical Assistance for Sustainable Development: Evidence from Russia

The research determines the level of financial risk in the Russian healthcare system and identifies prospects for improving the current Russian practice of financial risk management in healthcare when providing high-tech medical care for sustainable development (using Russia as an example). The author summarizes the advanced experience of the top 20 largest healthcare organizations in Russia by revenue in 2022. Based on this experience, the author developed an SEM model of the financial risks in healthcare during the provision of high-tech medical care in Russia from a sustainable development perspective. The theoretical significance of the developed model lies in uncovering the previously unknown causal relationships between the implementation of the ICT, sustainable development support, and financial risks in healthcare. The model reveals a new market dimension of financial risks for healthcare organizations in Russia. The main conclusion is that implementing the ICT and support for sustainable development helps to reduce the financial risks in healthcare. The identified potential for reducing financial risks in providing high-tech medical care in Russia until 2026 is practically significant. This prospect can be practically applied as a roadmap for the digital modernization and sustainable development of healthcare until 2026, enhancing the state healthcare policy in Russia. The established systemic relationship between ICT implementation, sustainable development support, and financial risks in healthcare is of managerial importance because it will increase the predictability of the financial risks in the market dimension of healthcare in Russia. The newly developed approach to risk management in healthcare during the provision of high-tech medical care in Russia has expanded the instrumental framework of risk management for healthcare organizations in Russia and revealed further opportunities for improving its efficiency.

Sustainable financial institution in Indonesia: An empirical analysis of social-cultural context, nepotism, and moral hazard on the shaping of non-performing loans

This study investigates the complex relationships among social and cultural contexts, nepotism, moral hazard, and non-performing loans (NPLs) within Indonesian financial institutions. Using survey data from a sample of these institutions, it employs structural equation modeling (SEM) to analyze these relationships. The findings reveal significant paths: social context significantly influences nepotism (β = 0.345 or 34.5%) and moral hazard (β = 0.347 or 34.7%), while cultural context has notable effects on nepotism (β = 0.157 or 15.7%) and NPLs (β = 0.379 or 37.9%). Nepotism (β = 0.168 or 16.8%) and moral hazard (β = 0.325 or 32.5%) also directly impact NPLs, highlighting their roles as mediators between social and cultural contexts and loan portfolio quality. These results underscore the pivotal roles of these factors in shaping organizational behavior and risk management practices. The study provides critical insights for practitioners, policymakers, and scholars focused on enhancing the sustainability and integrity of financial institutions in Indonesia. However, its reliance on cross-sectional data and self-reported surveys, and the focus solely on Indonesian institutions, may affect the generalizability of the findings. Despite these limitations, the study underscores the importance of addressing issues like nepotism and moral hazard to improve financial stability in the region.

Predictive Methods and AI - Driven Solutions for Risk Management in Organizations

Predictive Methods and AI - Driven Solutions for Risk Management in Organizations

Enhancing Corporate Financial Performance Through AI: A Novel AI Model for Forecasting Organizational Risk Management, CRM, and Operational Efficiency

Enhancing Corporate Financial Performance Through AI: A Novel AI Model for Forecasting Organizational Risk Management, CRM, and Operational Efficiency

Project risk management in practice: the actuality of project risk management in organizations

PurposeThis paper explores how risks are managed in project practice beyond formalized risk management processes by applying the lens of actuality research to project risk management.Design/methodology/approachThe paper follows a qualitative multimethod research approach utilizing literature review, interviews, observations and document analysis. The paper is based on three case studies and one interview study in project organizations facing green transition challenges.FindingsLittle work exists to reveal how risk management is actually done by project practitioners, and why. Few studies report on contextual variation and consider confounding factors beyond a “one size fits all” formalized explicit risk management process, despite ample evidence that risks are managed outside the formal process. The study documents that informal and/or implicit risk management activities add significantly more value.Originality/valueThe paper contributes a literature review of research into the actuality of project risk management, a sense-making framework of how risks are managed in practice beyond the formal, explicit risk-management process by including informal and/or implicit risk management activities, an empirical study of risk-management practice highlighting that informal and/or implicit risk-management activities dominate in practice, a discussion of why risks are managed outside formalized, explicit process and a research agenda to enable the design of impactful project risk-management practices.

Mutual insurance risks

The article considers the risk status of mutual insurance organizations. The growing popularity of mutual insurance among representatives of the field of material production, carriers, tourism business and other market participants, on the one hand, and the widespread opinion about the increased stability of the activities of a mutual insurance organization, on the other hand, sets the task of determining the risk status of a mutual insurance company, which will make it possible to formulate the main directions of risk–oriented regulation of such organizations. According to the author, the mutual insurance organization is subject to a significant number of various risks of risks, both event and economic and social. It is suggested that at least the following risk groups are inherent in a mutual insurance organization: risks due to the nature of insurance; risks arising from reciprocity as a technology; market risks of the mutual insurance organization; risks of an individual participant in mutual insurance in the part affecting the interests of the functioning of mutual insurance. Analysis of these risk groups makes it possible to come to the conclusion that the risk management of mutual insurance organizations should be built differently for organizations uniting individuals or large legal entities. For mutual companies of individuals, it is necessary to provide for built–in risk management mechanisms; for mutual societies that unite legal entities, risk management should be systemic and combine both the risks of the organization and its participants (enterprises).

Lean thinking and risk management in healthcare organizations: a systematic literature review and research agenda

PurposeHealthcare organizations have been facing challenges due to high costs and low efficiency in health services. The growth of costs and losses caused by avoidable mistakes lead to the search for solutions, and Health Lean Management appears as a potential solution to help in solving service quality problems, as well as reducing risks. This study aims to analyse the state of the art in the literature centred on the Lean approach in the context of risk management in healthcare organizations, and to identify new research opportunities, highlighting possible lines of future research.Design/methodology/approachFollowing a systematic literature review approach, 51 papers were considered relevant for this research, and reviewed to explore the development of literature in this area.FindingsBased on the results, five main research streams were identified: (1) risk management oriented towards patient safety; (2) risk management oriented towards employee safety; (3) importance of attitudes and behaviours in risk reduction projects; (4) Lean tools used in healthcare risk management and (5) Integration of approaches. Moreover, several shortcomings were identified in literature.Originality/valueIdentified shortcomings represent significant opportunities for further research development.