A Comprehensive Survey on Enterprise Financial Risk Analysis: Problems, Methods, Spotlights and Applications

Enterprise financial risk analysis aims at predicting the enterprises' future financial risk.Due to the wide application, enterprise financial risk analysis has always been a core research issue in finance. Although there are already some valuable and impressive surveys on risk management, these surveys introduce approaches in a relatively isolated way and lack the recent advances in enterprise financial risk analysis. Due to the rapid expansion of the enterprise financial risk analysis, especially from the computer science and big data perspective, it is both necessary and challenging to comprehensively review the relevant studies. This survey attempts to connect and systematize the existing enterprise financial risk researches, as well as to summarize and interpret the mechanisms and the strategies of enterprise financial risk analysis in a comprehensive way, which may help readers have a better understanding of the current research status and ideas. This paper provides a systematic literature review of over 300 articles published on enterprise risk analysis modelling over a 50-year period, 1968 to 2022. We first introduce the formal definition of enterprise risk as well as the related concepts. Then, we categorized the representative works in terms of risk type and summarized the three aspects of risk analysis. Finally, we compared the analysis methods used to model the enterprise financial risk. Our goal is to clarify current cutting-edge research and its possible future directions to model enterprise risk, aiming to fully understand the mechanisms of enterprise risk communication and influence and its application on corporate governance, financial institution and government regulation

Facilitating qualitative research in business studies - Using the business narrative to model value creation

This is a conceptual paper supported by empirical research giving details of a new Business Narrative Modelling Language (BNML). The need for BNML arose given a growing dissatisfaction with qualitative research approaches and also due to the need to bring entrepreneurs, especially those with little training in management theory, closer to the academic (as well as practitioner) discussion of innovation and strategy for value creation. We aim primarily for an improved communication process of events which can be described using the narrative, in the discussion of the value creation process. Our findings, illustrated through a case study, should be of interest to both researchers and practitioners alike

An agile business process and practice meta-model

Business Process Management (BPM) encompasses the discovery, modelling, monitoring, analysis and improvement of business processes. Limitations of traditional BPM approaches in addressing changes in business requirements have resulted in a number of agile BPM approaches that seek to accelerate the redesign of business process models. Meta-models are a key BPM feature that reduce the ambiguity of business process models. This paper describes a meta-model supporting the agile version of the Business Process and Practice Alignment Methodology (BPPAM) for business process improvement, which captures process information from actual work practices. The ability of the meta-model to achieve business process agility is discussed and compared with other agile meta-models, based on definitions of business process flexibility and agility found in the literature. (C) 2017 The Authors. Published by Elsevier B.V

Requirements modelling and formal analysis using graph operations

The increasing complexity of enterprise systems requires a more advanced analysis of the representation of services expected than is currently possible. Consequently, the specification stage, which could be facilitated by formal verification, becomes very important to the system life-cycle. This paper presents a formal modelling approach, which may be used in order to better represent the reality of the system and to verify the awaited or existing system’s properties, taking into account the environmental characteristics. For that, we firstly propose a formalization process based upon properties specification, and secondly we use Conceptual Graphs operations to develop reasoning mechanisms of verifying requirements statements. The graphic visualization of these reasoning enables us to correctly capture the system specifications by making it easier to determine if desired properties hold. It is applied to the field of Enterprise modelling

ERP implementation methodologies and frameworks: a literature review

Enterprise Resource Planning (ERP) implementation is a complex and vibrant process, one that involves a combination of technological and organizational interactions. Often an ERP implementation project is the single largest IT project that an organization has ever launched and requires a mutual fit of system and organization. Also the concept of an ERP implementation supporting business processes across many different departments is not a generic, rigid and uniform concept and depends on variety of factors. As a result, the issues addressing the ERP implementation process have been one of the major concerns in industry. Therefore ERP implementation receives attention from practitioners and scholars and both, business as well as academic literature is abundant and not always very conclusive or coherent. However, research on ERP systems so far has been mainly focused on diffusion, use and impact issues. Less attention has been given to the methods used during the configuration and the implementation of ERP systems, even though they are commonly used in practice, they still remain largely unexplored and undocumented in Information Systems research. So, the academic relevance of this research is the contribution to the existing body of scientific knowledge. An annotated brief literature review is done in order to evaluate the current state of the existing academic literature. The purpose is to present a systematic overview of relevant ERP implementation methodologies and frameworks as a desire for achieving a better taxonomy of ERP implementation methodologies. This paper is useful to researchers who are interested in ERP implementation methodologies and frameworks. Results will serve as an input for a classification of the existing ERP implementation methodologies and frameworks. Also, this paper aims also at the professional ERP community involved in the process of ERP implementation by promoting a better understanding of ERP implementation methodologies and frameworks, its variety and history

A review of information flow diagrammatic models for product-service systems

A product-service system (PSS) is a combination of products and services to create value for both customers and manufacturers. Modelling a PSS based on function orientation offers a useful way to distinguish system inputs and outputs with regards to how data are consumed and information is used, i.e. information flow. This article presents a review of diagrammatic information flow tools, which are designed to describe a system through its functions. The origin, concept and applications of these tools are investigated, followed by an analysis of information flow modelling with regards to key PSS properties. A case study of selection laser melting technology implemented as PSS will then be used to show the application of information flow modelling for PSS design. A discussion based on the usefulness of the tools in modelling the key elements of PSS and possible future research directions are also presented

Trust economics feasibility study

We believe that enterprises and other organisations currently lack sophisticated methods and tools to determine if and how IT changes should be introduced in an organisation, such that objective, measurable goals are met. This is especially true when dealing with security-related IT decisions. We report on a feasibility study, Trust Economics, conducted to demonstrate that such methodology can be developed. Assuming a deep understanding of the IT involved, the main components of our trust economics approach are: (i) assess the economic or financial impact of IT security solutions; (ii) determine how humans interact with or respond to IT security solutions; (iii) based on above, use probabilistic and stochastic modelling tools to analyse the consequences of IT security decisions. In the feasibility study we apply the trust economics methodology to address how enterprises should protect themselves against accidental or malicious misuse of USB memory sticks, an acute problem in many industries

Construction informatics in Turkey: strategic role of ICT and future research directions

Construction Informatics deals with subjects ranging from strategic management of ICTs to interoperability and information integration in the construction industry. Studies on defining research directions for Construction Informatics have a history over 20 years. The recent studies in the area highlight the priority themes for Construction Informatics research as interoperability, collaboration support, intelligent sites and knowledge sharing. In parallel, today it is widely accepted in the Architecture/Engineering/Construction (AEC) industry that ICT is becoming a strategic asset for any organisation to deliver business improvement and achieve sustainable competitive advantage. However, traditionally the AEC industry has approached investing in ICT with a lack of strategic focus and low level of priority to the business. This paper presents a recent study from Turkey that is focused on two themes. The first theme investigates the strategic role of ICT implementations from an industrial perspective, and explores if organisations within the AEC industry view ICT as a strategic resource for their business practice. The second theme investigates the ‘perspective of academia’ in terms of future research directions of Construction Informatics. The results of the industrial study indicates that ICT is seen as a value-adding resource, but a shift towards the recognition of the importance of ICT in terms of value adding in winning work and achieving strategic competitive advantage is observed. On the other hand, ICT Training is found to be the theme of highest priority from the academia point of view