Vilma Nasteckienė Doctoral Dissertation  “RISK MANAGEMENT IN MANAGEMENT PRACTICES: THE HOLISTIC APPROACH” was successfully defended on the 15th of September.

The public defense of the doctoral dissertation was held at 11 a.m. on the 15th of September 2021, at ISM University of Management and Economics, room 310. Address: Arklių str. 18, Vilnius, Lithuania.

Supervisors:

Prof. dr. Raimonda Alonderienė (ISM University of Management and Economics, Social Sciences, Management, S 003) ( 2019–2021)

Prof. dr. Valdonė Darškuvienė (ISM University of Management and Economics, Social Sciences, Management, S 003) (2013–2019)

Co-supervisor:

Assoc. prof. dr. Irina Liubertė (ISM University of Management and Economics, Social Sciences, Management, S 003) (2019–2021)

About Doctoral Dissertation:

Resounding failures in the financial sector and business organizations often inspire regulators and consultants to produce new regulations, standards and tools for risk management. Some business organizations perform better, show more resilience and adapt faster than others even without formal risk management procedures and departments. Risk management studies are structured around a formalized risk management framework that is assigned to a risk management professional and lack of empirical research on actual risk management practices The aim of this research is to investigate risk management as accomplished through daily management practice and bridge the gap between theoretical concept of ERM and management practice.
Based on conceptual analysis of literature, this study defines functional and holistic approaches to risk management. The functional approach puts emphasis on risk management tools and procedures and treats risk as a manageable object; whereas the holistic approach departs from object-based analyses and refers to risk management processes and practices as an integral part of business management. Holistic approach in risk management is necessary to ensure coherence between risk and management and bring theoretical concept of enterprise-wide risk management to management practice.
The novelty of this thesis constitutes in empirically exploring and connecting explicit and implicit management practices in a non-linear risk management process. It creates a different understanding about management practices that are not explicitly dedicated to the risk management as important indivisible part of risk management which can be defined and made auditable.

Defense board members

Chairperson:

Prof. dr. Ilona Bučiūnienė (ISM University of Management and Economics, Social Sciences, Management – S 003)

Members:

Prof. dr. Rūta Kazlauskaitė (ISM University of Management and Economics, Social Sciences, Management – S 003)

Prof. dr. Tadas Šarapovas (ISM University of Management and Economics, Social Sciences, Economics – S 004)

Prof. dr. Maaja Vadi (Tartu University, Social Sciences, Management – S 003)

Assoc. prof. dr. Žilvinas Židonis  (Mykolas Riomeris University, Social Sciences, Management – S 003)

Annotation

The dissertation is available at the Martynas Mažvydas National library and library of ISM University of Management and Economics.