Abstract:
The current diploma research work examines the crisis/risk management and contingency planning
competences as well as effectiveness among the Kazakhstani enterprises. The mixed research
methodology including quantitative and qualitative methods was applied to investigate the current state
of risk management practices and contingency planning activities.
Overall 74 complete survey responses and five interviews were collected. The research findings
demonstrated that implementation of the crisis/risk management and contingency planning practices
have gained considerable attention by the companies in recent years, which was mainly dictated by the
political, social and economic factors. Moreover, it was found that risk reporting effectiveness as well
as risk investigation, control and monitoring were weak. Also, employee risk awareness and training,
employee engagement in risk management practices, training of new employees about potential risks,
employee responsibility in risk management and employee risk perception levels were weak in selected
companies. In addition, it was found that the main risk factor for Kazakhstani companies was economic
factors.
Interview findings demonstrated that risk management and contingency planning practices were
influenced by the firm-specific and industry-specific factors. Based on the results of the research
several recommendations have been made on to develop required competencies in achieving effective
risk management and contingency planning practices.
