Thomas Henschel

Hochschule für Technik und Wirtschaft Berlin | HTW · Business School

The aim of this article is to identify key determinants for the implementation of robust and efficient risk management in small and medium-sized enterprises (SMEs). This research specifically analyzes the influences of corporate planning and value-based management, as well as their interaction with holistic risk management. By applying a structural...

With our recent research, we developed a comprehensive typology to measure the sophistication of ERM and CSR in SMEs. We also stress the relevance of the interrelationship between ERM and CSR regarding performance. The research shows that it is beneficial for SMEs to combine both views to achieve better company performance.

The article compares family small and medium-sized enterprises (SMEs) from Germany and Sweden with a large family company in their work on corporate social responsibility and sustainability. This study aims to understand how and why (small) family firms work with sustainability. In total, 14 interviews were conducted with family firms in different...

This study investigates the intricate relationship between management accounting (MA) practices and financial performance (FP) in small and medium-sized enterprises (SMEs) in Italy and Germany, offering practical insights for practitioners and policy makers. Despite the theoretical benefits of MA practices like cost accounting, budgeting, and key p...

Der vorliegende sechste Band aus der Schriftenreihe "Unternehmenscontrolling: Trends und Perspektiven" enthält fünf Beiträge wissenschaftlicher Arbeiten von Studierenden im Fachbereich Wirtschaftswissenschaften und Informationswissenschaften der Hochschule Merseburg sowie der Studiengänge Wirtschafts- und Rechtswissenschaften der Hochschule für Tec...

In the context of sustainable development, urban transformation should encourage the use of life cycle thinking tools for infrastructure development. By adopting sustainable economic, social, and environmental criteria, this study presents a review of sustainability assessment tools to build a framework for urban infrastructure. It incorporates a v...

This chapter aims to set the framework for the book’s topic: resilience in and for SMEs. To do so, the chapter starts broadly. It introduces the concept of resilience and its different forms before giving a brief overview of the current body of knowledge regarding the research on resilience. Thus, this chapter opens the door for the subsequent chap...

The aim of the final chapter is to conclude the book and its contents and, building on this, to propose a number of promising research avenues that will ideally contribute to the development of more resilient SMEs. The main contribution of this chapter is a list of research avenues that can be useful starting points for those interested in explorin...

Small- and medium-sized enterprises (SMEs) are widely recognized as particularly vulnerable to external shocks’ impacts. In this book chapter, we investigate the potential role of enterprise risk management (ERM) and corporate governance (CG) mechanisms as facilitators for business interruption insurance (BI) in SMEs. Our research aims to demonstra...

Notwithstanding the importance of crisis management for all types of companies, assessing the success of these measures and their contribution to the overall company performance is a challenge, especially for small- and medium-sized enterprises (SMEs). Forward-looking organizations know that a sole focus on crisis management is insufficient, and th...

The authors of this study aimed to investigate the issue of resilience in family firms during times of crisis. They recognize that a crisis can impact not only the business itself but also the family dynamics within the firm. To be resilient, addressing and managing both aspects is crucial. Resilience in this context refers to the ability of family...

The Annual Conference of Economic Forum of Entrepreneurship & International Business 10 Conferences Organized by. Dr. Ghada Gomaa A. Mohamed Edited by. (Profs/ Drs: Ghada Mohamed, Morrison H. Schachler, Daniel May, and Thomas Henschel. www.eco-ena.ca

The 10th Annual Conference of the Economic Forum of Entrepreneurship & International Business Organized by Dr. Ghada Gomaa A. Mohamed Edited by Dr. Ghada Mohamed Dr. Morrison Handley-Schachler Dr. Daniel May Dr. Thomas Henschel Conference e-proceeding: Library & Archive Canada https://epe.lac-bac.gc.ca/100/201/300/annual_conference_economic...

Der Einfluss eines Enterprise Risk Management (ERM) auf die Unternehmensperformance in kleinen und mittelständischen Unternehmen (KMU) wurde bisher nur wenig untersucht. Was diese Studie besonders macht, ist die Analyse, wie Corporate-Social-Responsibility-Aktivitäten (CSR-Aktivitäten) diese Performance-Beziehung beeinflussen kann. Die Ergebnisse d...

Die vorliegende Studie widmet sich der Analyse der entscheidenden Rolle von Communities of Practice (CoPs) als Instrumente des Wissensaustauschs in familiengeführten Klein- und Mittelunternehmen (KMUs), insbesondere wenn sowohl Familienmitglieder als auch externe Fachkräfte gemeinsam an diesen Communities teilnehmen. Durch die Anwendung einer umfas...

Purpose The aim of this paper is to analyse the role of communities of practice (CoP) as knowledge-sharing tools in family small and medium-sized enterprises (SMEs). In this context, CoPs that jointly involve family and non-family members are expected to act as knowledge-sharing tools. Design/methodology/approach This paper employs a multiple case...

Nachhaltigkeit ist in aller Munde und viele Unternehmen setzen mittlerweile auf Green Controlling, um ihre ökologischen Ziele zu erreichen. Doch wie passt Sustainable Risk Management dazu? In unserem aktuellen Beitrag haben wir uns intensiv mit dieser Frage auseinandergesetzt und sind zu dem Ergebnis gekommen, dass beide Konzepte sich perfekt ergän...

Dieser Beitrag diskutiert auf der Basis empirischer Studien die aktuellen Herausforderungen bei der Implementierung und beim Ausbau des Risikomanagements in KMU. Darauf aufbauend wird ein Konzept zur Verbesserung der Risikokompetenz durch gamifiziertes Lernen vorgestellt und über praktische Erfahrungen beim Einsatz dieser Methode berichtet.

Nowadays, risk management is addressed in most curricula. However, teaching often focuses on processes, routines, and scenarios rather than the psychological underlying risk perception, attitudes, and behaviour. Thus, we care about ensuring sound learning of personal risk preferences and their impact on decision-making in entrepreneurship educatio...

The 9th Annual Conference of the Economic Forum of Entrepreneurship & International Business Organized by Dr. Ghada Gomaa A. Mohamed Conference venue: LMH, University of Oxford, Oxford, United Kingdom Conference proceeding: Library & Archive Canada Date: February 1st, 2023 Conference edited by: Dr. Ghada Mohamed Dr. Morrison Handley-Schchler...

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.

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...

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...

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...

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...

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...

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).

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

The 8th Annual Conference of the Economic Forum of Entrepreneurship & International Business Organized by Dr. Ghada Gomaa A. Mohamed Conference venue: LMH, University of Oxford, Oxford, United Kingdom Conference proceeding: Library & Archive Canada Conference date: February 1st, 2020 Editors: Dr. Ghada Mohamed Dr. Morrison Handley-Schachler...

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...

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...

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...

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....

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 (...

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...

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...

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...

The 7th Annual Conference of the Economic Forum of Entrepreneurship & International Business Organized by Dr. Ghada Gomaa A. Mohamed Conference venue: Hughes Hall, Cambridge University, Cambridge, United Kingdom Conference proceeding: Library & Archive Canada Conference date: June 28th & 29th, 2018 Editors: Dr. Ghada Mohamed Dr. Morrison Han...

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...

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...

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...

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...

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.

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...

The 6th Annual Conference of the Economic Forum of Entrepreneurship & International Business Organized by: Dr. Ghada Gomaa A. Mohamed Conference venue: LMH, University of Oxford, Oxford, United Kingdom Conference Date: January 28th, 29th & 30th 2017 Editors: Dr. Ghada Mohamed Dr. Morrison Handley-Shachler Dr. Daniel May Dr. Thomas Henschel...

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...

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...

In einem zunehmend anspruchsvollen Geschäftsumfeld werden leistungsfähige Unternehmenssteuerungssysteme im Mittelstand zu zentralen Säulen erfolgreicher Marktbehauptung. Zugeschnitten auf die Herausforderungen kleiner und mittlerer Unternehmen legen Thomas Henschel und Ilka Heinze dar, welche rechtlichen Anforderungen zu Governance, Risikomanagemen...

Guest lecture at University of Geneva

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...

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...

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...

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...

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...

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...

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...

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...