Preface

Sustainability is an approach utilized by more and more organizations. In a dynamic environment, organizations approach the principles of sustainability and the circular economy. The transition from a linear economy to a circular economy implies the approach of principles, objectives, and goals of sustainability. We cannot talk about sustainability and development without efficient risk management. Risk management aims to develop an efficient organizational development environment through risk planning, assessment, analysis, and control. This process applies in all areas of activity and the evaluation framework is the same regardless of the field. This volume discusses methods, models, evaluation frameworks, benefits, barriers, and other dimensions of risk management.

Protecting the environment, streamlining the consumption of organizational resources, and reducing the amount of waste generated are some of the objectives of sustainability and circular economy efforts. The circular economy contributes to the sustainable development of a company or country and to the achievement of the global objectives of sustainable development. This book includes various studies on organizational and global sustainability.

Leadership has become a globally desirable approach that can help improve organizational competitiveness and reduce organizational risks. Risks and barriers in risk-free management can be well managed through effective organizational leadership. Leadership has several benefits for organizations, including improved organizational relations, motivating people, creating an organization adaptable to changes, identifying efficient processes, making intelligent decisions, and developing the organization over a long period of time. This book also explores different areas of leadership.

Furthermore, the book identifies strategic challenges for risk management, sustainability, and leadership, examines potential factors that affect business growth, and offers new opportunities for enterprises. It is organized into three main sections on risk management, sustainability, and leadership. It covers several important topics in the context of global sustainability and environmental dynamics:


This book is a useful resource for specialists in the field as well as researchers. It also offers a series of introductory aspects for those who want to learn the concepts

The editors would like to acknowledge the help of all those involved in this project. Without their support, this book would not have been possible. First, we thank the contributing authors for their time and expertise. Second, we wish to acknowledge the valuable contributions of the reviewers whose comments improved the quality,

Faculty of Management in Production and Transportation,

**Dr. Larisa Ivascu**

Timisoara, Romania

**Dr. Ben-Oni Ardelean** Faculty of Baptist Theology, University of Bucharest, Baptist Theological Institute,

Bucharest, Romania

**Dr. Muddassar Sarfraz** School of Management, Zhejiang Shuren University, Hangzhou, PR China

Politehnica University of Timisoara,

of risk, sustainability, and leadership.

coherence, and content of each of the chapters.


Chapter 1, "Risk Analysis, a Fuzzy Analytic Approach", introduces an analytic risk analysis approach by defining the danger, target zones, and effects of the barriers by geometric shapes.

Chapter 2, "Development of a Risk Management Model by the Fuzzy DEMATEL Method in the Evaluation of Authorized Certification Bodies", develops a new risk management model using the fuzzy DEMATEL method, which is one of the multicriteria decision-making methods, for authorized certification bodies to determine, evaluate, and measure risks, and plan the necessary preventive and corrective actions according to the results obtained.

Chapter 3, "Climate and Environmental Risk Action: A Call for Fresh Commitments to Adaptation and Resilience in West African Sub-Region", examines climate and other environmental problems that have created challenges to agriculture and food security, water resources, health, energy, and infrastructure development.

Chapter 4, "Sources of Social Risks and Risk Management Arrangements", examines the origins of societal risks, risk management arrangements, and methods for urging institutions to manage risk in Ethiopia. The result of the analysis indicates social risks faced by households caused by governance failures, institutional disincentives, elite's exploitations, and inefficiency.

Chapter 5, "Communication and Leadership for Improving ERM Effectiveness", focuses on Germany to factor out multiple country-specific risk management regulations and sociocultural variations. It contributes to an enhanced understanding of the means available for risk practitioners to increase enterprise risk management (ERM) effectiveness. Further, the study extends the literature on critical success factors for risk practitioners' communication and leadership practices.

Chapter 6, "Risk Management Tools to Improve the Efficiency of Lending to Retail Segments", discusses the issue of assessing the quality of risk management for a wide segment of retail lending (from consumer loans to loans for self-employed persons and small and medium-sized enterprises). The chapter substantiates a marginal formula for assessing the economic benefits of improving the discriminatory power of the models on which risk management is based.

This book is a useful resource for specialists in the field as well as researchers. It also offers a series of introductory aspects for those who want to learn the concepts of risk, sustainability, and leadership.

The editors would like to acknowledge the help of all those involved in this project. Without their support, this book would not have been possible. First, we thank the contributing authors for their time and expertise. Second, we wish to acknowledge the valuable contributions of the reviewers whose comments improved the quality, coherence, and content of each of the chapters.

> **Dr. Larisa Ivascu** Faculty of Management in Production and Transportation, Politehnica University of Timisoara, Timisoara, Romania
