Assessment of risk management practices in the public sector of Malaysia

• Published in: International Journal of Business and Emerging Markets
• Main Author: Said J.; Md. Alam M.; Johari R.J.
• Format: Article
• Language: English
• Published: Inderscience Publishers 2020
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85097909514&doi=10.1504%2fIJBEM.2020.111737&partnerID=40&md5=e1b144f83fdcd4deb6174b5f00275918

Public sectors around the world, especially in the developing counties, are not functioning well due to widespread fraud, governance, corruption, and inefficacy. For this reason, the world’s public sectors need to improve their efficacy by using a sound risk management system. This study attempts to comprehend the phenomenon of current risk management practices among the public sector employees in different service schemes in Malaysia. A questionnaire survey was utilised to collect primary data from 194 department heads in Malaysia’s federal ministries. The collected data was analysed using descriptive statistics and factor analysis. Findings revealed that 94.7% of respondents agreed to implementing risk management in their respective departments, but the level of priority for these risk management factors differs based on the service schemes. This study will assist policymakers to identify what is needed to enhance risk management practices in the public sector. Copyright © 2020 Inderscience Enterprises Ltd.