Integrated framework to mitigate risks in Giad group's strategy implementation

In today's competitive business environment, business entities are faced with greater uncertainties (threats and opportunities) as they strive to create value. In the wake of the current global economic crisis, businesses in a bid to stay competitive have taken several crucial measures. However...

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Main Author:	Said Ahmed, Omer Mohammed Osman
Format:	Thesis
Language:	English
Published:	2020
Subjects:	H Social Sciences (General) QA Mathematics
Online Access:	http://eprints.utm.my/id/eprint/98018/1/OmerMohammedOsmanPRAZAK2020.pdf
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id	my-utm-ep.98018
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spelling	my-utm-ep.980182022-11-10T02:15:44Z Integrated framework to mitigate risks in Giad group's strategy implementation 2020 Said Ahmed, Omer Mohammed Osman H Social Sciences (General) QA Mathematics In today's competitive business environment, business entities are faced with greater uncertainties (threats and opportunities) as they strive to create value. In the wake of the current global economic crisis, businesses in a bid to stay competitive have taken several crucial measures. However, for companies to keep track of their strategies, achieve their strategic objectives and reduce the impact of uncertainties, appropriate decisions should be made with a solution that reduces the impact of risks. Technical reports from companies showed that there is deviation from their original strategic plan tracks, and they are unable to achieve their strategic objectives. A preliminary study was conducted to identify the factors that lead to inefficiencies during strategic plan implementation. The result of the preliminary study showed that there is lack of risk management, especially information and incentive alignment risks. This research aims to propose a framework that mitigates risks during strategy implementation, through how the key choices made in strategy will either increase or reduce two characteristic types of risk (information and incentive alignment risks). These two types of risk (which are not mentioned in depth in other or past types of risk management categories) are the key inefficiency creators in the strategic planning and decision making that arise because of decision patterns. The proposed framework considers how to question the key decisions and how to turn inefficiencies into opportunities and points of power to create value. The proposed framework also presents essential fundamental concepts and enablers for achieving sustainable performance such as developing organizational capability, creative thinking, innovation, agility, succeeding through people and sustained outstanding results. The framework presents a mechanism to identify and assess the information and incentive alignment risks in the key decisions. The developed framework helps to reinvent desired strategic performance which lies in changing how decisions are made. The developed framework was validated via Subject Matter Experts (Strategy and risk management experts from GIAD Group Business Units and academic institutions). The feedback from the experts showed that the proposed framework is capable of managing risks during strategy implementation and can be implemented successfully. 2020 Thesis http://eprints.utm.my/id/eprint/98018/ http://eprints.utm.my/id/eprint/98018/1/OmerMohammedOsmanPRAZAK2020.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:144340 phd doctoral Universiti Teknologi Malaysia, Razak Faculty of Technology & Informatics Razak Faculty of Technology & Informatics
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	H Social Sciences (General) QA Mathematics
spellingShingle	H Social Sciences (General) QA Mathematics Said Ahmed, Omer Mohammed Osman Integrated framework to mitigate risks in Giad group's strategy implementation
description	In today's competitive business environment, business entities are faced with greater uncertainties (threats and opportunities) as they strive to create value. In the wake of the current global economic crisis, businesses in a bid to stay competitive have taken several crucial measures. However, for companies to keep track of their strategies, achieve their strategic objectives and reduce the impact of uncertainties, appropriate decisions should be made with a solution that reduces the impact of risks. Technical reports from companies showed that there is deviation from their original strategic plan tracks, and they are unable to achieve their strategic objectives. A preliminary study was conducted to identify the factors that lead to inefficiencies during strategic plan implementation. The result of the preliminary study showed that there is lack of risk management, especially information and incentive alignment risks. This research aims to propose a framework that mitigates risks during strategy implementation, through how the key choices made in strategy will either increase or reduce two characteristic types of risk (information and incentive alignment risks). These two types of risk (which are not mentioned in depth in other or past types of risk management categories) are the key inefficiency creators in the strategic planning and decision making that arise because of decision patterns. The proposed framework considers how to question the key decisions and how to turn inefficiencies into opportunities and points of power to create value. The proposed framework also presents essential fundamental concepts and enablers for achieving sustainable performance such as developing organizational capability, creative thinking, innovation, agility, succeeding through people and sustained outstanding results. The framework presents a mechanism to identify and assess the information and incentive alignment risks in the key decisions. The developed framework helps to reinvent desired strategic performance which lies in changing how decisions are made. The developed framework was validated via Subject Matter Experts (Strategy and risk management experts from GIAD Group Business Units and academic institutions). The feedback from the experts showed that the proposed framework is capable of managing risks during strategy implementation and can be implemented successfully.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Said Ahmed, Omer Mohammed Osman
author_facet	Said Ahmed, Omer Mohammed Osman
author_sort	Said Ahmed, Omer Mohammed Osman
title	Integrated framework to mitigate risks in Giad group's strategy implementation
title_short	Integrated framework to mitigate risks in Giad group's strategy implementation
title_full	Integrated framework to mitigate risks in Giad group's strategy implementation
title_fullStr	Integrated framework to mitigate risks in Giad group's strategy implementation
title_full_unstemmed	Integrated framework to mitigate risks in Giad group's strategy implementation
title_sort	integrated framework to mitigate risks in giad group's strategy implementation
granting_institution	Universiti Teknologi Malaysia, Razak Faculty of Technology & Informatics
granting_department	Razak Faculty of Technology & Informatics
publishDate	2020
url	http://eprints.utm.my/id/eprint/98018/1/OmerMohammedOsmanPRAZAK2020.pdf
_version_	1776100544903905280

Integrated framework to mitigate risks in Giad group's strategy implementation

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