Operational risk management (ORM) in the Industrial Symbiosis (IS) supply chain. : A qualitative study of ORM and the Triple Bottom Line (TBL) within the IS-supply chain.

Abstract: One of the biggest challenges for society nowadays is the environmental crisis that is characterized by the continuing growth, and depletion of Earth's natural resources combined with vast amounts of carbon dioxide emissions putting a strain on the world's ecosystem. To tackle this impending calamity and preserve our way of life, countries, and companies are creating new innovations and solutions. One of these solutions is the implementation of a circular development model where resources are used to their fullest potential while at the same time minimizing the potential negative effects such as carbon emissions. A practical implementation of a circular business model is industrial symbiosis (IS), a relatively new concept where different actors come together to utilize waste/by-products generated through production to be used as raw material in the production of another product. While the field concerning industrial symbiosis has seen extensive research in both technological and supply chain management, we identified that previous research is lacking when it comes to the field of risk management in the IS-supply chain. More specifically, operational risk management in the IS-supply chain was found to be under-researched, thus this was chosen by us for our study with the addition of how sustainability affects the risk management process.    The main purpose of this study is to gain a deeper understanding of how the operational risk management process is managed within the IS-supply chain, and how the triple bottom line of sustainability influences this process. The study consists of three main themes, namely industrial symbiosis supply chain management, operational risk management, and the triple bottom line of sustainability. The study addressed the research question which was formulated as follows: “How are operational risks managed within the industrial symbiosis supply chain, and how does the Triple Bottom Line influence the process of operational risk management?”.    To answer the research question and address the purpose of the thesis, a qualitative study was conducted with a focus on industrial symbiosis in Sweden. The interviews were conducted with managers from different companies that operate within an industrial symbiosis. The interviews themselves were semi-structured consisting of the three main themes. The sample for the interviews was selected based on position, experience, and knowledge concerning the relevant topics of the study.   The data gathered through the interviews were analyzed by using a thematic analysis and led us to our findings. The results showed that companies within the IS-supply chain all utilize one of two main methods concerning risk management. These are either a form of system/program/model or they do not use anything special at all and instead rely on themselves, communication, checklists, etc. This greatly depended on what type of company it is and the IS-supply chain itself as the materials used in the supply chain differ between different symbioses. Furthermore, the results also showed how the TBL affects the risk management process, and from the analysis, we concluded that only two of the aspects are considered, namely the economic and environmental. While the social aspect is still addressed in their companies, we did not see any particular pattern that related the aspect to operational risk management within the IS-supply chain. The study proposed a unique model of operational risk management in the IS-supply chain considering the triple bottom line of sustainability.