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Enterprise risk management in the bus market of the city of São Paulo

Paschoal Federico Neto (Universidade de São Paulo, São Paulo, Brazil)
Ricardo Fernandes Santos (Universidade de São Paulo, São Paulo, Brazil)
Fábio Lotti Oliva (Universidade de São Paulo, São Paulo, Brazil)

Benchmarking: An International Journal

ISSN: 1463-5771

Article publication date: 29 November 2018




The purpose of this paper is to analyze the identification, evaluation and treatment of risks, as well as the appetite and corporate maturity in relation to enterprise risk management in the urban bus market of the city of São Paulo, Brazil.


A qualitative case study was formulated in two stages: the first one includes an interview with a bus market specialist and the second stage comprehends eight interviews with executives from bus chassis and coachwork manufacturers and bus fleet operators of this market.


The results show that larger companies tend to manage their risks in a more structured way when compared with smaller ones, although there are some exceptions. The most critical risks evaluated concerns to the political type followed by the economic/financial, strategic, environmental, social, operational, technological, image and ethical types; and the risk appetites are generally consistent with the risks criticality level.

Practical implications

This case study of an important sector in the economy can be emblematic for the adoption of good practices of risk management by managers.


Risk appetites are generally consistent with criticality and the main forms of treatment are to reduce, share and follow, linked to participation in representative associations.



The authors thank Conselho Nacional de Desenvolvimento Científico e Tecnológico – CNPq; Faculdade de Economia, Administração e Contabilidade – FEA; Universidade de São Paulo – USP for their support in this study.


Federico Neto, P., Santos, R.F. and Oliva, F.L. (2018), "Enterprise risk management in the bus market of the city of São Paulo", Benchmarking: An International Journal, Vol. 25 No. 9, pp. 4103-4124.



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