Thomas Henschel

Thomas Henschel
Hochschule für Technik und Wirtschaft Berlin | HTW · Business School

PhD, MBA, Dipl.-Kfm.
Visiting Researcher at the University of Verona, Italy.

About

105
Publications
36,816
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359
Citations
Citations since 2017
55 Research Items
288 Citations
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2017201820192020202120222023020406080100
2017201820192020202120222023020406080100
2017201820192020202120222023020406080100
Introduction
Dr. Thomas Henschel is Professor in Management Accounting at Hochschule für Technik und Wirtschaft in Berlin, Germany. He was until March 2012 a Lecturer in Accounting at Edinburgh Napier University, UK. Thomas Henschel has published three books and several academic articles and led a number of consultancy projects. Mr Henschel is also engaged with the technology transfer to Small and Medium-sized Enterprises.
Additional affiliations
August 2016 - March 2017
University of Skövde
Position
  • Professor
Description
  • The main purpose for Thomas' stay at Skövde University is to start a new research project: The Management of Knowledge Risk in German and Swedish SMEs.
March 2012 - present
Hochschule für Technik und Wirtschaft Berlin
Position
  • Professor (Full)
Description
  • Thomas’s research interests are in business planning and risk management by Small and Medium-sized Enterprises.
January 2009 - March 2012
Edinburgh Napier University
Position
  • Lecturer
Education
January 2004 - December 2008
Edinburgh Napier University
Field of study
  • Risk Management
January 2001 - May 2003
University of Lincoln
Field of study
  • Management Consultancy
September 1989 - September 1992
Hochschule Emden/Leer
Field of study
  • Business Adminstration

Publications

Publications (105)
Article
f you successfully managed your turnaround what comes next? Implementing sound crisis management to make your firm more resilient. With our paper, we provide a framework on how to implement proactive crisis management in family firms.
Article
Full-text available
Our work aspires to add to this emerging academic debate by revising the relevance of Enterprise Risk Management and corporate governance mechanisms in managing COVID-19 impact in SMEs. Our research shows that SMEs with higher ERM and governance sophistication could better estimate the necessary strategic responses during the COVID-19 pandemic. The...
Article
Turning around the family and the business? A difficult undertaking. With our new paper, we shed some light on this relationship. The purpose of this paper is to understand turnaround strategies in family firms from a socioemotional wealth (SEW) perspective. This study follows a case study approach with family firms from Germany, Scotland, and Swed...
Conference Paper
SMEs are regarded as particularly vulnerable to the consequences of external shocks. BI is seen as an important enabler for resilience-oriented strategies. There is a need for studies that help to understand what drives their interest in BI cover, and what is the role of ERM and corporate governance in this regard. Research questions: What are the...
Conference Paper
The aim of this paper is the development of a Life cycle thinking (LCT) based integrated framework for the assessment of economic, environmental and social aspects of sustainability for urban infrastructure projects. The primary purpose of this assessment framework is to assist the construction consultants and supporting agencies through decision m...
Article
The purpose of this paper is to examine the impact of enterprise risk management on the financial performance of small-to-medium enterprises and to empirically validate the intervening role of corporate social responsibility. Based on a cross-country survey among 536 SMEs, we apply an SEM model. Our results show that ERM is an important driver of c...
Presentation
The purpose of this paper is to examine the impact of enterprise risk management (ERM) implementation on the financial performance of small-to-medium enterprises (SMEs) and to empirically validate the intervening role of corporate social responsibility (CSR).
Book
Wir befinden uns im zweien Jahr der COVID-19 Pandemie und ein Ende ist noch nicht wirklich abzusehen. In diesen zwei Jahren haben sehr tiefgreifende gesellschaftliche sowie wirtschaftliche Veränderungen in Europa stattgefunden. Mit Blick auf die Unternehmen ist festzustellen, dass diese eine steile Lernkurve absolviert haben, was die Anpassung und...
Book
This book provides an in-depth introduction to crisis management and leadership in SMEs, as well as methods, approaches and cases against the background of different crises; external ones in particular. Featuring contributions from research and practice, this book covers a plethora of SMEs from different sectors to match the diverse nature of small...
Chapter
The aim of the final chapter is to conclude the book and its content and based on it to provide a number of promising research avenues that will hopefully help in further developing the timely and relevant field of crisis management and related fields. Thus, the main contribution of this chapter is a list of research avenues, which can act as usefu...
Chapter
In this chapter, we discuss and analyse how family SMEs can prepare for crises originating in different areas. In specific, we discuss how family SMEs can prepare for crises originating in the family, the firm and the environment. There is an overlap in family SMEs, which implies that it is necessary to account for all three areas in a crisis situa...
Article
Full-text available
Ausgehend von den gesetzlichen Grundlagen des Risikomanagements und der Bedeutung des Risikomanagements in der Wirtschaftsprüfung beschäftigt sich dieser Artikel mit den Aufgaben des Controllings im Risikomanagement. Weiterhin wird erörtert, wie eine Integration des Risikomanagements in das Controlling realisiert werden und welchen Nutzen dies stif...
Chapter
The purpose of this chapter is to examine the effects of risk-taking and enterprise risk management (ERM) on the financial performance of small- and medium-sized enterprises (SMEs). For measuring the ERM sophistication, we developed a new and comprehensive scoring approach, covering measures for risk management organization, risk management process...
Chapter
The aim of this chapter is to set the frame for the book’s topic, namely crisis management in SMEs. In order to do so, the chapter starts broadly and introduces the topics of crisis and crisis management before turning to crisis management in SMEs. This is followed by a brief summary of the current body of knowledge with regard to crisis management...
Chapter
The Coronavirus came suddenly and unexpectedly. Yet, we were aware of its worrisome effects on individuals and organizations in the form of switches to short-time work, applications for state support, and even first closures very soon. The increasing focus on crisis management which had been put by the big consulting companies such as McKinsey and...
Chapter
The topic of crisis management, which is currently gaining in importance, has so far been little focused on small- and medium-sized companies. Because of this, there are currently only a few substantive results relating to this problem. Therefore, there is a considerable need for research with regard to crisis management, especially in small- and m...
Article
PURPOSE: The purpose of the present research note is to give an overview of research in the field of risk management in leasing SMEs as well as to present fields for future research. It intends to encourage other researchers to fill the current gap in research on risk management in general and on risk management in (German leasing) SMEs in particul...
Article
The purpose of this paper is to explore and understand how family firms manage a crisis by applying a processual perspective addressing the different phases of a crisis, including its origin, context and consequences. Drawing on a study of six family firms, we find that the leadership of the owning family signifies crisis management in family firms...
Conference Paper
This study contributes to the literature on SMEs vulnerabilities to crisis and their resilience capabilities. There is a growing evidence on the COVID-19 pandemic impacts on the businesses (in this SMEs) performance. However, SMEs are overall perceived as more exposed to the negative consequences of the external shocks. Thus, the purpose of our wor...
Article
Mehrere vorangegangene Insolvenzen und Krisen von Unternehmen, ausgelöst durch fehlendes Risikobewusstsein und mangelnde Informations- beziehungsweise Kontrollprozesse, veranlassten den Gesetzgeber im Mai 1998 zu erstmaligen Formulierungen von Risikomanagementanforderungen im Gesetz zur Kontrolle und Transparenz im Unternehmensbereich (KonTraG). Di...
Article
Purpose The purpose of this paper is to explore and understand how family firms manage a crisis by applying a processual and longitudinal perspective. The objective is to find out how crisis management is approached by family firms in Sweden, Scotland and Germany, using entrepreneurial orientation (EO) as an analytical lens. Further, this paper inv...
Article
Die derzeitig besonders an Bedeutung gewinnende Thematik des Krisenmanagements stand bei mittelständischen Unternehmen bisher nur wenig im Fokus. Aufgrund dessen sind gegenwärtig auch nur wenige substanzielle Ergebnisse bezüglich dieser Problematik vorhanden. Daher besteht hinsichtlich des Krisenmanagements, insbesondere bei kleinen und mittelständ...
Article
We investigate how family firms manage and overcome the COVID-19-crisis. We distinguish between different areas of crisis origin, i.e. the environment, the business or the family. We propose a process model of crisis management and draw on an interview study of German and Swedish companies. The model includes different activities which could be und...
Article
COVID-19 has hit us all unexpectedly. Nevertheless, this pandemic requires decisive actions. Taking this as a starting point, this empirical study investigates how small companies from Estonia have been coping with COVID-19 so far. The article contributes to the study of crisis management in general and crisis management in small firms by providing...
Article
Full-text available
This paper aims to provide a systematic review on the topic of unlearning (and the related concept of forgetting) to establish the current body of knowledge. Despite the growing popularity of the topic, little research so far has aimed to contribute to the extant literature by providing a detailed examination that includes all aspects of unlearning...
Article
Ambulante Pflegedienste gewinnen zunehmend an Bedeutung und sehen sich einem starken Wettbewerbs- und Kostendruck ausgesetzt. Vor diesem Hintergrund nähern sich die Autoren empirisch der Antwort auf die Frage, welche Bedeutung das Controlling institutionell als auch funktional in Berliner ambulanten Pflegediensten einnimmt. Zudem stellen sie eine e...
Book
Das vorliegende Jahrbuch Unternehmensrechnung 2020 ist der zweite Band der Schriftenreihe "Unternehmenscontrolling: Trends und Perspektiven". Die verschiedenen Beiträge zeigen sehr explizit, wie stark sich das Gebiet der Unternehmensrechnung in Veränderung befindet, sowohl hinsichtlich der inhaltlichen Ausrichtung als auch in Bezug auf Kooperatione...
Chapter
The aim of the final chapter is to conclude the book and its content and based on it to provide a number of promising research avenues that will hopefully help in further developing the promising field of knowledge risk management as well as related fields. Thus, the main contribution of this chapter is a list of research avenues which can act as u...
Chapter
The aim of this chapter is to set the frame for the book’s topic, namely knowledge risk management. In order to do so, the chapter starts broadly and introduces the topics of risks and risk management and knowledge risks and knowledge risk management, respectively. This is followed by a brief summary of the current body of knowledge with regard to...
Book
This book provides an in-depth introduction to knowledge risk management (KRM) as well as methods, tools and cases to address knowledge risk management issues in both the public and private sector. It focuses on the integration of knowledge risks into the holistic risk management of organizations. In addition, this book is accompanied by an externa...
Article
Full-text available
This paper aims to provide a systematic review on the topic of unlearning (and the related concept of forgetting) to establish the current body of knowledge. Despite the growing popularity of the topic, little research so far has aimed to contribute to the extant literature by providing a detailed examination that includes all aspects of unlearning...
Conference Paper
Full-text available
The aim of this paper is to explore and understand how family firms manage a crisis by applying a processual perspective. Our objective is to find out how crisis management is approached by family firms in Sweden, Scotland, and Germany, using entrepreneurial orientation (EO) as an analytical lens. Further, we aim to examine the role of the owning f...
Presentation
Full-text available
The aim of this presentation is to explore and understand how family firms manage a crisis by applying a processual perspective. Our objective is to find out how crisis management is approached by family firms in Sweden, Scotland, and Germany. Further, we aim to examine the role of the owning family in creating and solving a crisis in family firms....
Article
The purpose of this paper is to highlight critical success factors for establishing sound and effective risk management in small and medium-sized enterprises (SMEs). In particular, our research tests the effect of personal risk propensity and financial planning sophistication. Based on a survey among 270 SMEs, we apply a structural equation model (...
Chapter
Personalmanagement und Digitalisierung – denken Sie dabei an die Digitalisierung der Personalprozesse oder an die Vorbereitung der Mitarbeiter auf die technologische Veränderung? Das Personalmanagement muss beide Fragestellungen betrachten – gerade in kleinen und mittelständischen Unternehmen oft eine große Herausforderung. Der Beitrag betrachtet h...
Chapter
Wenn Sie dieses Kapitel durchgearbeitet haben, - können Sie die Begriffe Corporate Governance, Risikomanagement und Compliance in den Kontext einer sachgerechten Unternehmensführung einordnen; - verfügen Sie über ein Grundverständnis hinsichtlich der für die Organisation und Umsetzung eines Risikomanagement- und Compliance Management-Systems im...
Conference Paper
The purpose of this project is to explore and understand how family firms manage a crisis by applying a processual perspective. Drawing on the study of eight family firms, we find that the family dimension can be both an asset and a liability for managing a crisis situation. We extend the model of Hong et al. (2012) by including the dimensions of o...
Article
In den letzten Jahren konnte sich die ISO 31000 in der internationalen Risikomanagementpraxis positiv von anderen Werken absetzen. Diese Praxisrelevanz ist vor allem für kleine und mittelständische Unternehmen wichtig, die nach wie vor noch zurückhaltend in Bezug auf die Implementierung eines ganzheitlichen Risikomanagements sind. Mit dem in vielen...
Article
There have been a large number of studies examining how firms are governed and how they should be governed. However, these studies have mainly concerned themselves with large public limited firms. Given that most firms are small, there is a need to consider the governance requirements of small firms and how these may differ to the needs of larger o...
Chapter
The purpose of this paper is to review extant research on knowledge risk management (KRM) to establish our body of knowledge and to identify gaps justifying further research activities. The study is based on a systematic review of peer reviewed empirical and conceptual articles on the management of knowledge risks. This proceeding proves evidence t...
Chapter
In this chapter, we will introduce small and medium-sized enterprises (SMEs) by defining and discussing characteristics of SMEs in qualitative and quantitative terms. In doing so, this chapter takes an international perspective to account for regional and international differences. As SMEs are often owner-managed, individual attitudes to management...
Presentation
Full-text available
The GRC Quick Check is an Interactive assessment tool. By answering 16 questions the individual risk type will be determined.Respondents will receive feedback on the sophistication of their risk management system.
Article
Kosten sind das Resultat der zweckorientierten Existenz und Aktivität von Unternehmen. Kennzahlensysteme, die ausschließlich die Kostendimension betrachten, erfahren jedoch eine geringe Aufmerksamkeit. Dieser Beitrag versucht dem entgegenzuwirken und stellt exemplarisch ein rein kostenbasiertes, produktbezogenes und zugleich kundenorientiertes Kenn...
Conference Paper
Full-text available
Even though the study of risk management (RM) in small and medium-sized enterprises (SMEs) has increased recently, there have been few cross-country studies. Therefore, the present research project can be considered as one of the first of its kind drawing upon an extensive empirical study into the status of RM in SMEs. More precisely, the cross-cou...
Presentation
Full-text available
Even though the study of risk management (RM) in small and medium-sized enterprises (SMEs) has increased recently, there have been few cross-country studies. Therefore, the present research project can be considered as one of the first of its kind drawing upon an extensive empirical study into the status of RM in SMEs. More precisely, the cross-cou...
Presentation
Full-text available
Guest lecture at University of Geneva
Book
Full-text available
In einem zunehmend anspruchsvollen Geschäft sumfeld werden leistungsfähige Unternehmenssteuerungssysteme im Mitt elstand zu zentralen Säulen erfolgreicher Marktbehauptung. Zugeschnitt en auf die Herausforderungen kleiner und mitt lerer Unternehmen legen Thomas Henschel und Ilka Heinze dar, welche rechtlichen Anforderungen zu Governance, Risikomanag...
Article
The article illustrates the importance of the German Credit Guarantee Scheme to overcome credit restrictions for small and medium-sized enterprises (SMEs). By analysing the results of semi-structured interviews with German bank managers, it is demonstrated that the provision of a guarantee from a guarantee bank fosters learning by creating lending...
Article
The article illustrates the importance of the German Credit Guarantee Scheme to overcome credit restrictions for small and medium-sized enterprises (SMEs). By analysing the results of semi-structured interviews with German bank managers, it is demonstrated that the provision of a guarantee from a guarantee bank fosters learning by creating lending...
Article
The purpose of this paper is to review extant research on knowledge risk management (KRM) to establish our body of knowledge and to identify gaps justifying further research activities. The study is based on a systematic review of peer reviewed empirical and conceptual articles on the management of knowledge risks. This proceeding proves evidence t...
Article
Even though the study of risk management (RM) in small and medium-sized enterprises (SMEs) has increased recently, there have been few cross-country studies. Therefore, the present research project can be considered as one of the first of its kind drawing upon an extensive empirical study into the status of RM in SMEs. More precisely, the cross-cou...
Chapter
In Deutschland existieren in jedem Bundesland Bürgschaftsbanken, die es sich zur zentralen Aufgabe gemacht haben, durch die Bereitstellung von Bürgschaften kleinen und mittleren Unternehmen (KMU) den Zugang zu Bankkrediten zu erleichtern. Der vorliegende Beitrag enthält Auszüge aus einer Forschungsarbeit, sie sich damit beschäftigt hat, herauszufin...
Article
Die Umsetzung des Risikomanagements in kleinen und mittleren Unternehmen steht in der betriebswirtschaftlichen Literatur kaum im Fokus. Auf Basis einer umfangreichen Literaturanalyse wurden die bisher vorhandenen Studien bzw. Konzepte für kleine und mittlere Unternehmen ausgewertet und der weitere Forschungsbedarf identifiziert. Dabei hat sich geze...
Conference Paper
The aim of this study is to highlight the contribution of knowledge risk management (KRM) to small and medium-sized enterprises (SMEs) and their efforts to cope with current and future business challenges. Specifically, this study seeks to answer the following three research questions: 1. What are risks related to knowledge? 2. How is knowledge r...
Conference Paper
The aim of the study is to investigate the current state of the management decision process in family companies to provide an increased understanding on whether a formal financing strategy has been formulated and will be followed through this specific refinancing process. It highlights the efforts and behavior of the management to cope with current...
Article
Full-text available
Das Thema Risikomanagement in mittelständischen Unternehmen steht in der betriebswirtschaftlichen Literatur bisher kaum im Fokus. Auf Basis einer umfangreichen Literaturanalyse werden die bisher vorhandenen Studien bzw. Konzepte aus den Jahren 2007 bis 2014 ausgewertet und der weitere Forschungsbedarf identifiziert. Dabei hat sich gezeigt, dass jew...
Article
Full-text available
The average owner of a small firm may feel that corporate governance is a topic that is of little interest to them or the operation of their business. However, this is due to the focus on ‘corporate’ and not governance within much of the debate in this area; there is no doubt that if we see governance as a holistic concept that is interested in fai...
Technical Report
The average owner of a small firm may feel that corporate governance is a topic that is of little interest to them or the operation of their business. However, this is due to the focus on ‘corporate’ and not governance within much of the debate in this area; there is no doubt that if we see governance as a holistic concept that is interested in fai...
Chapter
Die Herausgeber bieten mit diesem Handbuch eine umfassende, praktische Darstellung des gesamten Insolvenzrechts. Die ergangenen Änderungen durch das ESUG sind genauso eingearbeitet wie die Reform der Verbraucherinsolvenz und die geplante Neuregelung der Konzerninsolvenz. Das Buch ermöglicht einen schnellen und profunden Einstieg in die verschiedene...
Chapter
Die Herausgeber bieten mit diesem Handbuch eine umfassende, praktische Darstellung des gesamten Insolvenzrechts. Die ergangenen Änderungen durch das ESUG sind genauso eingearbeitet wie die Reform der Verbraucherinsolvenz und die geplante Neuregelung der Konzerninsolvenz. Das Buch ermöglicht einen schnellen und profunden Einstieg in die verschiedene...
Article
Full-text available
This study investigates the practice of governance in small firms and shows differences between these firms in the principality of Liechtenstein and Scotland. Thereby, the study’s intention is to draw particular attention to the influence of corporate governance on the firm’s ability to change. Thus a broader scope of corporate governance, which is...
Article
Full-text available
German guarantee banks facilitate the access to bank finance of SMEs with no or not enough valuable collateral by underwriting a certain share of the overall risk of the loan amount. Based on conceptual studies about credit guarantee schemes a unique research approach has been developed to evaluate whether guarantee banks also help to overcome prob...
Article
The term corporate governance is now firmly part of modern business terminology and is widely used by commentators, businessmen and academics. However the exact meaning of corporate governance is still open to much debate, where on one hand some see it as a proxy for shareholder power, others see it as just a set of basic legal guidliness that larg...
Article
Full-text available
The business management literature has largely neglected the theme of risk management for Small- to Medium-sized Enterprises (SMEs). So the aim of this research was to explore the current state of risk management in German SMEs. Derived from a comprehensive analysis of a questionnaire survey which was supported by research interviews, a multidimens...
Article
Full-text available
Die betriebswirtschaftliche Literatur hat das Thema Risikomanagement in mittelständischen Unternehmen bisher weitgehend vernachlässigt. Daher war es das Ziel der vorliegenden Untersuchung, in deutschen KMU den aktuellen Stand des Risikomanagements zu ermitteln. Aus der umfassenden Analyse einer Fragebogenerhebung und unterstützt von strukturierten...
Article
Full-text available
Den Veränderungen auf den nationalen und internationalen Finanz-, Absatz- und Arbeits-märkten müssen sich auch kleine und mittelständische Unternehmen (KMU) stellen. In Großkonzernen werden schon seit einiger Zeit Konzepte der Strategieimplementierung an-gewandt, um sich den Auswirkungen der verändernden Umwelt auf das eigene Unternehmen bewusst zu...
Article
Full-text available
Am 03.08.2006 veröffentlichte das Bundesfinanzministerium einen Referentenentwurf zur 8. Änderung des Steuerberatungsgesetzes. Zukünftig sollen die „Einrichtung der Buchführung“ sowie die „Erstellung und Abgabe der Umsatzsteuer-Voranmeldung“ vom Verbot der unbefugten Hilfeleistung in Steuersachen ausgenommen sein. Für Berufsgruppen wie Selbständige...
Article
Full-text available
This paper reports the current risk management practices in German Small to Medium-sized Enterprises (SMEs) (so-called German 'Mittelstand'). In particular, it studies possible relationships between risk management and business planning activities. Additionally, it determines to what extent the Balanced Scorecard (BSC) is used, for the general purp...
Article
Trotz ihrer wirtschaftlichen Bedeutung sind mittelständische Unternehmen in empirischen Untersuchungen zur Unternehmensplanung bislang vernachlässigt worden. Mit einem per Post verschickten Fragebogen untersucht diese Studie den aktuellen Stand der Unternehmensplanung in mittelständischen Unternehmen von fünf wichtigen deutschen Branchen. Die Ergeb...
Article
Full-text available
Trotz ihrer wirtschaftlichen Bedeutung sind deutsche mittelständische Unternehmen in empirischen Untersuchungen zur Unternehmensplanung bislang vernachlässigt worden. Im Folgenden wird von den Ergebnissen einer Umfrage zum aktuellen Stand der Unternehmensplanung im deutschen Mittelstand berichtet. Es zeigt sich, dass Planung hier eher rudimentär au...
Article
Ein betriebliches Performance-Measurement-System, beispielsweise eine Balanced Scorecard, soll sich einem strategischen Oberziel unterordnen. Dazhu hat man sich in den letzten Jahren hauptsächlich am Shareholder Value orientiert. Mittlerweile sind an diesem Konzept umfängliche Kritikpunkte geäußert worden. Somit kann eine vom sogenannten Member Val...

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Projects

Projects (5)
Project
The objective of this research is to investigate the influence of direct and indirect family ownership on firm performance in Germany and Indonesia. In addition, it is also expected that this research will show whether the relationship between family direct/indirect ownership and firm performance in Germany and Indonesia is similar to each other. Many comparative studies on cross-national family ownership – firm performance relationship focus on Anglo-Saxon and Continental Europe context. The amount of study focusing on the aforementioned relationship in the developing countries such as Indonesia and comparative study between developing and developed countries are still limited. Thus, this study is expected to decrease this limitedness and provide a comprehensive understanding on the influence of family ownership (direct and indirect) on firm performance in developed and developing countries with diverse corporate governance system
Project
This study aims to highlight the contribution of enterprise risk management (ERM) on business performance to small and medium-sized enterprises (SMEs). In particular, it will investigate how corporate social responsibility practices will moderate the relationship between ERM implementation and business performance measured through accounting ratios.