The Contribution of Risk Management to Strategic Directions in Companies in Santa Cruz do Sul-RS: A Multiple Case Study

Abstract

Objective: The objective of this study is to investigate how the risk management process contributes to strategic directions in companies in Santa Cruz do Sul? With the aim of relating risk and strategy and proposing an association model for the applicability of knowledge.   Theoretical Framework: The study was theoretically based on topics such as types of risks, ISO 9001, 31000, 31010 regulations, concepts prescribed by COSO, PMBOK and the three lines of defense.   Method: The methodology was characterized by a qualitative study of an exploratory and descriptive nature through a study of multiple cases composed of five companies. The data derived from the analysis of the content of interviews and documents, identifying common tools and methodologies, as well as examples of models already being validated among companies that consider risk in strategic planning.   Results and Discussion: The results demonstrate that companies use strategic planning tools, however, understanding risk management is not treated as a priority, with the predominant budget for decision making. Based on this observation, a Strategy and Risk Association model was created, which in addition to synthesizing the main knowledge, serves as a guide for managerial application and for the academic dissemination of the topic.   Research Implications: The practical and theoretical implications of this research are discussed, providing insights into how the results can be applied or influence practices in the field of Strategic Administration and Risk Management. These implications can cover strategic sectors of organizations, audits and consultancies.   Originality/Value: This study contributes to the literature by highlighting the importance of treating risk management within strategic planning, proposing a model for associating strategy and risk that can be replicated in companies. The relevance and value of this research are evidenced by the responses obtained by managers who cite the important tools of strategic planning and the treatment of risk in their organizations.