Evaluating Enterprise Risk Management in Iran's Cement Industry

Objective: Enterprise Risk Management (ERM) has become the predominant strategic-management approach in modern organizations. Implementing ERM through a risk-vision strategy enhances organizational performance by promoting a forward-looking perspective. This approach requires ongoing monitoring of environmental changes that present both threats and opportunities, allowing firms to respond effectively. Central to this foresight is ERM's ability to identify shifts in markets and the broader business environment. This study seeks to develop and articulate an ERM evaluation model for subsidiaries of selected Iranian cement-holding companies  Methodology: An exploratory mixed-methods design was employed. Grounded Theory was used to inductively construct an ERM evaluation model, resulting in ۲۶ sub-categories grouped into six core categories: causal conditions, the focal phenomenon, contextual conditions, intervening conditions, ERM evaluation strategies, and ERM evaluation consequences. Results: The Grey DEMATEL method was then applied to analyze the relationships among the model’s dimensions. Findings indicate that causal conditions influence the focal phenomenon, which in turn shapes evaluation strategies for ERM. These strategies directly affect the outcomes of ERM evaluation. Additionally, both contextual and intervening conditions impact ERM strategies, while intervening conditions also affect causal conditions. Conclusion: This study enhances understanding of the relationships within the Risk Management Evaluation Framework and offers practical management strategies for holding companies in the Iranian cement industry.

Keywords:

Enterprise risk management evaluation , cement industry , Grounded theory , Grey DEMATEL