Risk Management Strategies for Small and Medium-sized Enterprises (SMEs) : A Case Study of Bricol
Dang, Hoang (2025)
2025
All rights reserved. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025060420227
https://urn.fi/URN:NBN:fi:amk-2025060420227
Tiivistelmä
Small and Medium-sized Enterprises (SMEs) contribute effectively towards the growth of an economy but they lack challenges like scarce resources, financial vulnerability, and lack of formal risk handling procedures. In this thesis, the author is going to uncover risk handling approaches in SMEs through a case study of Bricol Palvelut, a cleaning agency that works within Finland.
The aim of this research is to examine how SMEs identify, handle and manage the risks and provide practical recommendations for improving the risk management practices. This research uses a qualitative approach, where primary data is collected through a structure interview between the author and the owner of the company. The findings indicate that the company manages risks based mainly on personal experience and informal methods rather than standardized frameworks such as ISO 31000.
The main challenges Bricol has at the moment is the financial limitations, time constraints, and operating without dedicated risk management staff. Despite these challenges, the owner of Bricol Palvelut demonstrated awareness of risk management concepts and showed willingness to improve their practices in the future.
Based on the research, the author has several recommendations, which include creating a basic risk register, developing guidelines and checklists for the common risks. The suggestions are intended to help SMEs like Bricol Palvelut shift from reactive to more proactive and systematic risk management, which will enhance their long-term viability and resilience.
The aim of this research is to examine how SMEs identify, handle and manage the risks and provide practical recommendations for improving the risk management practices. This research uses a qualitative approach, where primary data is collected through a structure interview between the author and the owner of the company. The findings indicate that the company manages risks based mainly on personal experience and informal methods rather than standardized frameworks such as ISO 31000.
The main challenges Bricol has at the moment is the financial limitations, time constraints, and operating without dedicated risk management staff. Despite these challenges, the owner of Bricol Palvelut demonstrated awareness of risk management concepts and showed willingness to improve their practices in the future.
Based on the research, the author has several recommendations, which include creating a basic risk register, developing guidelines and checklists for the common risks. The suggestions are intended to help SMEs like Bricol Palvelut shift from reactive to more proactive and systematic risk management, which will enhance their long-term viability and resilience.