Weighting Risk Factors for Start-up Businesses in Small and Medium Enterprises: A qualitative approach and ATLAS ti procedure

Authors

  • Siti Nadhirah Mohamad Fauzi Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, 22200 Besut, Terengganu, Malaysia
  • Puspa Liza Ghazali Faculty of Business and Management, Universiti Sultan Zainal Abidin, 21300 Kuala Nerus. Terengganu, Malaysia
  • Rabiatul Adawiyah Rohim Faculty of Medicine, 20400 Kuala Terengganu, Terengganu, Malaysia.
  • Roslida Abdul Razak Faculty of Business and Management, Universiti Sultan Zainal Abidin, 21300 Kuala Nerus. Terengganu, Malaysia

DOI:

https://doi.org/10.21834/e-bpj.v8iSI15.5072

Keywords:

Risk Factors, SMEs, Qualitative Method, ATLAS ti

Abstract

Risk management is essential in helping Small and Medium Enterprises to grow and survive with all the risks and challenges they face. Risk assessment is one of the processes in risk management, which includes risk identification and evaluation. Risk management tools and techniques differ based on the type of business. Thus, this paper aims to evaluate risk factors in risk management for start-up businesses in Small and Medium Enterprises. The data was collected by interviewing the experts in Small and Medium Enterprises and analysed using ATLAS ti. It has been found that entrepreneurial traits are the most significant risk factor.

References

Abdul Hadi, A. A., Ghazali, P. L., Mohamad Foziah, N. H., Abdul Razak, R., & Arifin, J. (2022). A Review Paper on The New Business Factors for The Malaysian Edible Bird Nest Swiftlet Ranching Industry. The Journal of Management Theory and Practice (JMTP), 3(1), 62–66. https://doi.org/10.37231/jmtp.2022.3.1.211 DOI: https://doi.org/10.37231/jmtp.2022.3.1.211

Abdul Rohim, R. A., Ghazali, P. L., Abdul Jalil, K., Abdul Razak, R., Arifin, J., Mahmud, M. S., Lambak, S., Mohamad Zain, E. N., & Zain, M. (2023). Lactobacillus Salivarius Growth: An Algorithm Using Fuzzy Regression Method. Journal of Pharmaceutical Negative Results, 14(1), 123–131. https://doi.org/10.47750/pnr.2023.14.S01.13

AL Ahmad, A., & Sirjani, R. (2020). Optimal placement and sizing of multi-type FACTS devices in power systems using metaheuristic optimisation techniques : An updated review. Ain Shams Engineering Journal, 11(3), 611–628. https://doi.org/10.1016/j.asej.2019.10.013 DOI: https://doi.org/10.1016/j.asej.2019.10.013

Braun, V., & Clarke, V. (2021). To saturate or not to saturate? Questioning data saturation as a useful concept for thematic analysis and sample-size rationales. Qualitative Research in Sport, Exercise and Health, 13(2), 201–216. https://doi.org/10.1080/2159676X.2019.1704846 DOI: https://doi.org/10.1080/2159676X.2019.1704846

Dilley, M. (2005). Natural disaster hotspots: a global risk analysis (Vol. 5). World Bank Publications, 132 pp DOI: https://doi.org/10.1596/0-8213-5930-4

Ferreira de Araújo Lima, P., Crema, M., & Verbano, C. (2020). Risk management in SMEs: A systematic literature review and future directions. European Management Journal, 38(1), 78–94. https://doi.org/https://doi.org/10.1016/j.emj.2019.06.005 DOI: https://doi.org/10.1016/j.emj.2019.06.005

Frese, M., Gielnik, M. M. (2014). The Psychology of Entrepreneurship. Annual Review of Organizational Psychology and Organizational Behavior, Vol. 1, pp. 413 – 438. https://doi.org/10.1146/annurev-orgpsych-031413-091326 DOI: https://doi.org/10.1146/annurev-orgpsych-031413-091326

Ghazali, P. L., Abdul Hadi, A. A., Mohamad Fauzi, S. N., Lambak, S., Mahmud, M. S., Mohammed Foziah, N. H., Mohamed, M. A., & Mohamad Zain, E. N. (2023). Weighting a Start-up Business Index for Edible Bird Nest Swiftlet Ranching Industry: A Qualitative Method Approach. International Journal of Academic Research in Business and Social Sciences, 13(4), 451–468. https://doi.org/10.6007/IJARBSS/v13-i4/16870 DOI: https://doi.org/10.6007/IJARBSS/v13-i4/16870

Hamir, H., & Md. Sum, R. (2021). An Analysis of Risk Management Processes and Comparison with ISO31000:2018. Asian Journal of Research in Business and Management, 3(4), 16–30. https://doi.org/10.55057/ajrbm.2021.3.4.3 DOI: https://doi.org/10.55057/ajrbm.2021.3.4.3

Hayes, A. (2022) Enterprise risk management (ERM): What is it and how it works, Investopedia. Investopedia. Available at: https://www.investopedia.com/terms/e/enterprise-risk-management.asp (Accessed: April 18, 2023).

Hvide, H.K., Panos, G. A. (2014). Risk tolerance and entrepreneurship. Journal of Financial Economics, 111: 200 – 223. https://doi.org/10.1016/j.jfineco.2013.06.001 DOI: https://doi.org/10.1016/j.jfineco.2013.06.001

Jobo, D., & Phyllis, C. (2020). Entrepreneurial Risk Management Challenges Within The Maritime Smes Subsector Of South Africa. Academy of Entrepreneurship Journal, 26(2), 1–19.

Kee, D. M. H., Yusoff, Y. M., & Khin, S. (2019). The role of support on start-up success: A pls-sem approach. Asian Academy of Management Journal, 24, 43–59. https://doi.org/10.21315/AAMJ2019.24.S1.4 DOI: https://doi.org/10.21315/aamj2019.24.s1.4

Kvietok, A. (2013). Psychological profi le of the entrepreneur. Retrieved March 24, 2014, from http:// www.psyx.cz/texty/psychologickyprofi lpodnikatele.php (Accessed: April 18, 2023).

Mishra, C. S., & Zachary, R. K. (2015). The theory of entrepreneurship. Entrepreneurship Research Journal, 5(4), 251–268. https://doi.org/10.1515/erj-2015-0042 DOI: https://doi.org/10.1515/erj-2015-0042

Oduoza, C. F. (2020). Framework for sustainable risk management in the manufacturing sector. Procedia Manufacturing, 51(2019), 1290–1297. https://doi.org/10.1016/j.promfg.2020.10.180 DOI: https://doi.org/10.1016/j.promfg.2020.10.180

Rabiee, F. (2004). Focus-group interview and data analysis. Proceedings of the Nutrition Society, 63(4), 655-660. doi:10.1079/PNS2004399 DOI: https://doi.org/10.1079/PNS2004399

Saputra, A., Indradewa, R., & Syah, T. Y. R. (2021). Human Capital Plan for Business Startups “Jamu Partnership” in Indonesia. International Journal of Research and Review, 8(8), 370–376. https://doi.org/10.52403//ijrr.20210851 DOI: https://doi.org/10.52403//ijrr.20210851

Ślusarczyk, B., & Grondys, K. (2019). Parametric conditions of high financial risk in the SME sector. Risks, 7(3), 1–17. https://doi.org/10.3390/risks7030084 DOI: https://doi.org/10.3390/risks7030084

Takiyuddin, M., Ghani, A., Halim, B. A., Azri, S., Rahman, A., Abdullah, N. A., Afthanorhan, A., & Yaakub, N. (2023). OVERCONFIDENCE BIAS AMONG INVESTORS : A QUALITATIVE EVIDENCE FROM PONZI SCHEME CASE STUDY. 4(2), 59–75. https://doi.org/10.22495/cbsrv4i2art6 DOI: https://doi.org/10.22495/cbsrv4i2art6

Vesković, N. (2014). Aspects of Entrepreneurial Risk. 115–117. https://doi.org/10.15308/finiz-2014-115-117 DOI: https://doi.org/10.15308/finiz-2014-115-117

Virglerova, Z., Dvorsky, J., Kozubikova, L., & Cepel, M. (2020). Perception of non-financial risk determinants in SMEs in Visegrad countries. Oeconomia Copernicana, 11(3), 509–529. https://doi.org/10.24136/OC.2020.021 DOI: https://doi.org/10.24136/oc.2020.021

Downloads

Published

2023-09-19

How to Cite

Mohamad Fauzi, S. N., Ghazali, P. L., Rohim, R. A., & Abdul Razak, R. (2023). Weighting Risk Factors for Start-up Businesses in Small and Medium Enterprises: A qualitative approach and ATLAS ti procedure . Environment-Behaviour Proceedings Journal, 8(SI15), 61–70. https://doi.org/10.21834/e-bpj.v8iSI15.5072