Linking risk management to strategic controls: a case study of Tesco plc

Margaret Woods

Research output: Contribution to journalArticle

Abstract

Definitions and perceptions of the role and styles of risk management, and performance management/strategic control systems have evolved over time, but it can be argued that risk management is primarily concerned with ensuring the achievement of strategic objectives. This paper shows the extent of overlap between a broad-based view of risk management, namely Enterprise Risk Management (ERM), and the balanced scorecard, which is a widely used strategic control system. A case study of one of the UK's largest retailers, Tesco plc, is used to show how ERM can be introduced as part of an existing strategic control system. The case demonstrates that, despite some differences in lines of communications, the strategic controls and risk controls can be used to achieve a common objective. Adoption of such an integrated approach, however, has implications for the profile of risk and the overall risk culture within an organisation.
Original languageEnglish
Pages (from-to)1074-1088
Number of pages15
JournalInternational Journal of Risk Assessment and Management
Volume7
Issue number8
Early online date3 Oct 2007
DOIs
Publication statusPublished - 2007

Keywords

  • balanced scorecard
  • case study
  • corporate governance
  • enterprise risk management
  • ERM
  • risk controls
  • strategic control
  • Tesco plc

Fingerprint Dive into the research topics of 'Linking risk management to strategic controls: a case study of Tesco plc'. Together they form a unique fingerprint.

Cite this