A novel approach to selection of resilient measures portfolio under disruption and uncertainty: a case study of e-payment service providers View Full Text


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Article Info

DATE

2022-06-21

AUTHORS

Ahmad Jafari Ghezelhesar, Ali Bozorgi-Amiri

ABSTRACT

The increasing development of trade activities and the high frequency of destructive events in the business environment have exposed organizations to various disruptions and operational risks that adversely affect their financial and operational performance. Organizations must, therefore, adopt enterprise risk management approaches to manage risks and prevent/mitigate potential losses. This study proposes a novel quantitative risk management framework based on organizational resilience and business continuity planning for service-based organizations. The proposed framework includes a multi-objective model to cope with disruptions by employing optimal preventive and mitigation action plans. The inherent uncertainty of parameters is tackled using a modified version of the light robust approach. This study aims to adopt an optimal portfolio of resilience strategies and business continuity plans to minimize the average loss in the organization’s operational performance and the total post-disruption recovery time and maximize the total recovery capability of the resilience strategies and continuity plans and the number of time intervals with desirable performance based on business continuity management indicators. An e-payment service provider is also examined as a case study to ensure the reliability and applicability of the proposed model. Based on the results, adopting proper resilience strategies and business continuity plans can improve an organization's capability in managing destructive events and help the organization achieve a viable competitive advantage in the turbulent business environment. More... »

PAGES

5477-5527

References to SciGraph publications

  • 2019-07-17. Assessing the impact of incomplete information on the resilience of financial networks in ANNALS OF OPERATIONS RESEARCH
  • 2009. Light Robustness in ROBUST AND ONLINE LARGE-SCALE OPTIMIZATION
  • 2013-10-23. Augmented ε-constraint method in multiobjective staff scheduling problem: a case study in THE INTERNATIONAL JOURNAL OF ADVANCED MANUFACTURING TECHNOLOGY
  • 2019-03-20. A dynamic credit risk assessment model with data mining techniques: evidence from Iranian banks in FINANCIAL INNOVATION
  • 2020-07-06. Risk identification and prioritization in banking projects of payment service provider companies: an empirical study in FRONTIERS OF BUSINESS RESEARCH IN CHINA
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    URI

    http://scigraph.springernature.com/pub.10.1007/s12351-022-00709-x

    DOI

    http://dx.doi.org/10.1007/s12351-022-00709-x

    DIMENSIONS

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