Dalli Gonzi, R.; Grima, S.; Kizilkaya, M.; Spiteri, J. The Dali Model in Risk-Management Practice: The Case of Financial Services Firms. J. Risk Financial Manag.2019, 12, 169.
Dalli Gonzi, R.; Grima, S.; Kizilkaya, M.; Spiteri, J. The Dali Model in Risk-Management Practice: The Case of Financial Services Firms. J. Risk Financial Manag. 2019, 12, 169.
Dalli Gonzi, R.; Grima, S.; Kizilkaya, M.; Spiteri, J. The Dali Model in Risk-Management Practice: The Case of Financial Services Firms. J. Risk Financial Manag.2019, 12, 169.
Dalli Gonzi, R.; Grima, S.; Kizilkaya, M.; Spiteri, J. The Dali Model in Risk-Management Practice: The Case of Financial Services Firms. J. Risk Financial Manag. 2019, 12, 169.
Abstract
Abstract: Purpose – In this article we lay out the change management practices adopted by financial firms in small states within the Eurozone. We determine whether these organisations have the ability to identify triggers for change (Red Flags) and subject them to eight thematic elements to understand whether management practices can continue to exist and support operational environments, even when unexpected circumstances affect their day to day operations and processes. In doing this we examine the extent to which the eight thematic elements from the model designed by Dalli Gonzi, (2019) (The Dali Model) can assist organisations in risk identification and business continuity planning.
Design/methodology/approach – A self-administered questionnaire purposely designed for this study was administered to personnel working in internal controls within financial institutions of small Eurozone states. The participants were asked to grade statements using a 5-point Likert scale, ‘1’ being ‘totally disagree’ and ‘5’ being totally agree’ to the statement posed under the thematic elements forming the basis of the Dali Model.
Findings – Factor analysis provided support for the eight hypothesised dimensions of the decision-making model: connection, capacity, governance, network, policy, training, process improvement, standards.
Originality/value – The study provides a better understanding and support of “best practice” in change management through an understanding and assessment of the eight factors that are the basis of this model. It addresses practical recommendations to ensure application to a wider frame of use.
Keywords
change management; decision-making model; risk management; resource management; process improvement; good governance
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
