Adoption of enterprise risk management: A study of a textile and clothing supply chain

This is a qualitative multi-case study using in-depth interviews with senior staff from six Hong Kong-based successful enterprises in the textile and clothing industry to examine the strategic measures these companies adopted to combat and manage risks in order to take the opportunity to grow in an unstable economic environment. Result of this case study show that although risk management was not attained under the banner of enterprise risk management (ERM) by the participant companies, there was, in essence, an enterprise-wide, holistic approach to address risk. Result also shows that the use of more formal quantitative measures to manage risk issues is positively related to an organization´s size and legal structure. The findings from these successful cases demonstrate the best practices for the industry, and provide insights for future research in risk management.