Selection of effective risk mitigation strategies in container shipping operations Article Swipe
Chia‐Hsun Chang
,
Jingjing Xu
,
Jingxin Dong
,
Zaili Yang
·
YOU?
·
· 2019
· Open Access
·
· DOI: https://doi.org/10.1108/mabr-04-2019-0013
YOU?
·
· 2019
· Open Access
·
· DOI: https://doi.org/10.1108/mabr-04-2019-0013
Purpose Container shipping companies face various risks with different consequences that are required to be mitigated. Limited empirical research has been done on identifying and evaluating risk management strategies in shipping operations with different risk consequences. This paper aims to identify the appropriate risk mitigation strategies and evaluate the relative importance of these strategies. Design/methodology/approach Literature review and interviews were used to identify and validate the appropriate risk mitigation strategies in container shipping operations. A questionnaire with a Likert five-point scale was then conducted to rank the identified risk mitigation strategies in terms of their overall effectiveness. Top six important strategies were selected to evaluate their relative importance under three risk consequences (i.e. financial, reputation and safety and security incident related loss) through using another questionnaire with paired-comparison. Fuzzy analytic hierarchy process (AHP) was then conducted to analyse the paired-comparison questionnaire. Findings After conducting a systematic literature review and interviews, 18 mitigation strategies were identified. The results from the first questionnaire show that among the 18 strategies, the top three are “form alliances with other shipping companies”, “use more advanced infrastructures (hardware and software)” and “choose partners very carefully”. After conducting fuzzy AHP, the results show that shipping companies emphasize more on reducing the risk consequence of financial loss; and “form alliance with other shipping companies” is the most important risk mitigation strategy. Originality/value This paper evaluates the risk mitigation strategies against three risk consequences. Managers can benefit from the systematic identification of mitigation strategies, which shipping companies can consider for adoption to reduce the operational risk impact.
Related Topics
Concepts
Analytic hierarchy process
Risk analysis (engineering)
Risk management
Business
Reputation
Container (type theory)
Risk assessment
Originality
Financial risk
Scale (ratio)
Operations management
Actuarial science
Operations research
Computer science
Finance
Engineering
Computer security
Qualitative research
Mechanical engineering
Physics
Sociology
Social science
Quantum mechanics
Metadata
- Type
- article
- Language
- en
- Landing Page
- https://doi.org/10.1108/mabr-04-2019-0013
- https://www.emerald.com/insight/content/doi/10.1108/MABR-04-2019-0013/full/pdf?title=selection-of-effective-risk-mitigation-strategies-in-container-shipping-operations
- OA Status
- diamond
- Cited By
- 31
- References
- 56
- Related Works
- 10
- OpenAlex ID
- https://openalex.org/W2978102154
All OpenAlex metadata
Raw OpenAlex JSON
- OpenAlex ID
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https://openalex.org/W2978102154Canonical identifier for this work in OpenAlex
- DOI
-
https://doi.org/10.1108/mabr-04-2019-0013Digital Object Identifier
- Title
-
Selection of effective risk mitigation strategies in container shipping operationsWork title
- Type
-
articleOpenAlex work type
- Language
-
enPrimary language
- Publication year
-
2019Year of publication
- Publication date
-
2019-11-11Full publication date if available
- Authors
-
Chia‐Hsun Chang, Jingjing Xu, Jingxin Dong, Zaili YangList of authors in order
- Landing page
-
https://doi.org/10.1108/mabr-04-2019-0013Publisher landing page
- PDF URL
-
https://www.emerald.com/insight/content/doi/10.1108/MABR-04-2019-0013/full/pdf?title=selection-of-effective-risk-mitigation-strategies-in-container-shipping-operationsDirect link to full text PDF
- Open access
-
YesWhether a free full text is available
- OA status
-
diamondOpen access status per OpenAlex
- OA URL
-
https://www.emerald.com/insight/content/doi/10.1108/MABR-04-2019-0013/full/pdf?title=selection-of-effective-risk-mitigation-strategies-in-container-shipping-operationsDirect OA link when available
- Concepts
-
Analytic hierarchy process, Risk analysis (engineering), Risk management, Business, Reputation, Container (type theory), Risk assessment, Originality, Financial risk, Scale (ratio), Operations management, Actuarial science, Operations research, Computer science, Finance, Engineering, Computer security, Qualitative research, Mechanical engineering, Physics, Sociology, Social science, Quantum mechanicsTop concepts (fields/topics) attached by OpenAlex
- Cited by
-
31Total citation count in OpenAlex
- Citations by year (recent)
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2025: 1, 2024: 6, 2023: 11, 2022: 4, 2021: 6Per-year citation counts (last 5 years)
- References (count)
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56Number of works referenced by this work
- Related works (count)
-
10Other works algorithmically related by OpenAlex
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