Integration of Sustainability in Risk Management and Operational Excellence through the VIKOR Method Considering Comparisons between Multi-Criteria Decision-Making Methods
Yazo-Cabuya, Eliana Judith (Universidad Jorge Tadeo Lozano)
Ibeas, Asier (Universitat Autònoma de Barcelona. Departament de Telecomunicació i Enginyeria de Sistemes)
Herrera, Jorge (Universidad Jorge Tadeo Lozano)

Date:	2024
Abstract:	In the current context, organizations face an important challenge in managing risks related to environmental, social and governance (ESG) issues. This research presents a general method for prioritizing organizational risks with a focus on sustainability based on the characterization of five typologies of organizational risks and their respective sub-risks, based on an analysis of global reports. Subsequently, paired surveys are administered to a group of experts from various sectors, who assign importance to the organizational sub-risks. Their responses serve as the basis for the prioritization of these risks, using the VIšekriterijumsko KOmpromisno Rangiranje (VIKOR) method, which highlights the following most relevant organizational sub-risks for each type of risk: (1) Lack of ethics in the conduct of business (geopolitical risk); (2) Deficit in economic growth (economic risk); (3) Chemical safety (social risk); (4) Massive data fraud or theft incidents (technological risk); and (5) Water depletion (environmental risk). Additionally, a sensitivity analysis is performed to determine the robustness of the results of the VIKOR method and then compare the correlation coefficients with respect to the results obtained in previous studies for the AHP and ANP methods. Finally, we propose the implementation of a model to manage organizational risks, which are addressed proactively through an integral vision, allowing for continuous improvement and alignment with corporate strategy by means of an operational excellence management system (OEMS).
Rights:	Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original.
Language:	Anglès
Document:	Article ; recerca ; Versió publicada
Published in:	Sustainability, Vol. 16, Núm. 11 (June 2024) , art. 4585, ISSN 2071-1050

DOI: 10.3390/su16114585

24 p, 940.9 KB

The record appears in these collections:
Articles > Research articles
Articles > Published articles