Investigation of level of awareness in airlines operate in Turkey related to crisis and enterprise risk management

Due to the sectoral dynamics, the high level of variability, the interest and interest of stakeholders in aviation, the severity of crisis impacts on businesses can be different and high level. A crisis that has taken place in any part of the world due to the influence of globalization can directly or indirectly affect the operations of airlines. For this reason, business concerns develop defense mechanisms for institutional sustainability in a sense within institutional strategies for crisis and risk sources. Crisis management is one of these defense mechanisms. Risk is any kind of incentive that can positively or negatively affect the objectives of the organization. With the development of ERM (Enterprise Risk Management), businesses concerns have begun to look at risks not only in terms of threats, but also in terms of opportunities. Enterprise risk management has a positive impact on corporate value and performance, and it is anticipated that the crisis-specific and risk management systems that are established for the organization play a critical role in achieving corporate strategic objectives. The aim of this study is to provide both a guideline and a contribution to the literature in support of increasing the level of awareness of companies. In this study, crisis and ERM issues are explained. Crisis and ERM practices in seven different airline companies operating in different business models are examined. The awareness of businesses in this regard has been researched. Interviews with senior executives of the enterprises were conducted using the semi-structured interview technique. Effective use of resources, risks that can be seen as a threat to the business can be turned into an advantage by a good crisis and ERM application. For this reason, business concerns can improve both crisis and risk management application performance as well as corporate performance by increasing awareness of the crisis and ERM. Being aware of this nature of businesses, as intended through this study, could also affect their paradigms to crisis and enterprise risk management systems.