Risk Management Practices and Operational Performance of Plastic Manufacturing Companies in Ghana

Authors : Dorcas Nana Efua-Sekum Ewur

Volume/Issue : Volume 6 - 2021, Issue 12 - December

Google Scholar : http://bitly.ws/gu88

Scribd : https://bit.ly/3sapVdd

Risk management as a managerial act is gaining grounds in the Ghanaian manufacturing sector. This can be associated with the fact that, effective risk mitigation enhances effective resource allocation, prevents wastage and reduces operational cost. Risk management also calls for proper people management and profit maximization.The study sort to identify various risk management practices within the Ghanaian plastic manufacturing industry to establish its relationship and effect on operational performance. The study adopted a quantitative approach, random sampling approach was used for the study, this is the most common and basic form of probability sampling, where units or elements are chosen randomly from an identified population with all elements having an equal opportunity to be selected. The findings of the study indicated that, there exists no correlation between RMP and OP. The study also expressed that, RMP is a weak predictor of OP. Considering issues associated with Risk management practices and Operational performance, the study recommended key strategies such as risk insight, proper risk reporting, diagnostics, risk strategy and prioritization for effective management and performance maximization

Keywords : Risk Management, Practices, Operational Performance and Manufacturing Companies.


Paper Submission Last Date
29 - February - 2024

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