The Effects of Organizational Culture and Enterprise Risk Management on Organizational Performance: A Conceptual Framework

Value creation to stakeholders is determined, as the main objective of every organisation. However, the environmental changes affect to take many risks. Risk affects to achieve organisational performance and stakeholders. Enterprise risk management is different from traditional risk management in order to create challenging opportunity, eliminate failure and create benefit for all stakeholders. Enterprise risk management is a part of management control system. Also, organizational performance is come from management control system that associated to contextual factors. From previous studies, organizational culture is identified, as a crucial key in contextual factors to the success of enterprise risk management. Unfortunately to study of the linkage among the organizational culture, enterprise risk management and organizational performance is rare. The purpose of the study, is to propose the conceptual framework of organizational culture and enterprise risk management affect to organizational performance in Thailand. The contribution is mainly beneficial for private sectors and government to support organizational culture associated with enterprise risk management. It is also advantage for organizational performance. Moreover in academic aspect, it can contribute the relationship of organizational culture, enterprise risk management and firm performance.