Knowledge management in support of enterprise risk management

Eduardo Rodriguez*, John S. Edwards

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs related to knowledge sharing, and two risk management concepts: perceived quality of risk control and perceived value of enterprise risk management. From a literature review, relationships with eight knowledge management variables covering people, process and technology aspects were hypothesised. A survey was administered to risk management employees in financial institutions. The results showed that the perceived quality of risk control is significantly associated with four knowledge management variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the knowledge management variables to the perceived value of enterprise risk management are not significant. We conclude that better knowledge management is associated with better risk control, but that more effort needs to be made to break down organizational silos in order to support true Enterprise Risk Management.

Original languageEnglish
Title of host publicationTransportation systems and engineering
Subtitle of host publicationconcepts, methodologies, tools, and applications
PublisherIGI Global
Pages108-127
Number of pages20
Volume1
ISBN (Electronic)978-1-4666-8474-4
ISBN (Print)978-1-4666-8473-7, 1-4666-8473-9
DOIs
Publication statusPublished - 30 Jun 2015

    Fingerprint

Cite this

Rodriguez, E., & Edwards, J. S. (2015). Knowledge management in support of enterprise risk management. In Transportation systems and engineering: concepts, methodologies, tools, and applications (Vol. 1, pp. 108-127). IGI Global. https://doi.org/10.4018/978-1-4666-8473-7.ch005