Integration of Strategic Management, Governance and Risk Management: Impact of the Crisis of 2008 in Two Companies of Food

Antonio Francisco de Almeida da Silva Junior, Raquel Ângelo Araújo, Sandro Cabral

Abstract


During the crisis of 2008, several Brazilian companies have accumulated losses that worth billions, as the result of a high foreign exchange rate exposure and failures in risk management and Corporate Governance. The aim of this research is to identify the strategic factors that contributed to two very similar companies to follow different paths in the financial crisis of 2008. To better understanding the subject, it was made a brief analysis of the foundations of the Corporate Governance, the requirements listed by BM&FBOVESPA and the principles of the financial risk management. The research identified that the practice of risk management is crucial in implementing best practices of corporate governance and that despite numerous initiatives of various institutions and regulators in establishing self-regulatory mechanisms to ensure the use of these practices, there are still flaws able to allow companies previously considered solid incurring in strategies that may jeopardize its existence.

Keywords


Financial Strategies; Corporate Governance; Risk Management.



DOI: https://doi.org/10.5585/ijsm.v12i4.2040

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Iberoamerican Journal of Strategic Management (IJSM)
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