Novel risk management integrated model implementation: Comparison between manufacturing and service companies

Abstract

Till now a framework to define a common and unified standard model for integrated risk management systems, which is suitable to be used in all contingency factors settings, has not been found. For this reason, as the main objective of applying the standards of management systems in the organizations is to determine the risk that affects the ability of the organization to achieve its goals and desired results in addition to organizing and coordinating all operations and the optimal use of resources, the purpose is to develop an integrated risk management model for standardized management systems with growing trends such as ISO 9001:2015, ISO 14001:2015, ISO/IEC 27001:2013, ISO 45001:2018 and ISO 22000:2018 with the aim to allow organizations to manage their operations and risks appearing in a manner that reduces the use of available resources and improves the overall performance. Novel risk management integrated model in standardized management systems has three levels - correspondence, coordination and integration and putting in place a clear and structured approach to control of organizational risk. Proposed model has been checked empirically to survey contextual independence of proposed model using Mann-Whitney U*test and it has been proved that the model is context free and applicable to companies from different sectors - both in production and service companies.