Advanced Search
MyIDEAS: Login

Risk Management In The Context Of Sustainable Development

Contents:

Author Info

  • Gheorghe Mirela

    ()
    (Academia de Studii Economice, Bucuresti, Contabilitate si Informatica de Gestiune)

Registered author(s):

    Abstract

    The objective of the present paper is to present the singularities of risk management in the context of the new requirements and strategies adopted by the European Union in order to ensure sustainable development at organizational level. The paper wishes to approach the complex problem of risk management, given the premise that risk needs to be tackled as a conscious and calculated assumption of reality. The motivation for this research originates from the necessity of having a holistic approach for the risk management process, which will allow risk analysis and evaluation at a strategic, operational, financial, environmental and social level. This integrating approach, the continuous and systematic analysis and evaluation of all risks will constitute a real fundament for the sustainable development of all organizations, generating an efficient management system for all possible risks and opportunities resulting from these risks. The present research is based on the analysis of specialized literature, identifying the characteristics of the risk management process at conceptual level, in order to ensure the organizationâ€â"¢s sustainable development, the managersâ€â"¢ perception regarding the importance of this process and the necessity for integration in the leading structures of the organization. The adopted research methodology is based on activities specific for descriptive research. Modern management needs to be risk-sensitive, to follow the implementation and utilization of reliable and efficient systems, to elaborate action plans and security schemes which include ranking the objectives on operational levels, adaptable to the permanent changes. An efficient management system does not limit itself to a ‚short time horizonâ€â"¢, also but considers further perspectives. In these situations, proactive management turns into prospective management, its purpose being to identify the risks that might arise as a consequence of strategy or environment modifications. Todayâ€â"¢s organizations need to fully absorb the concept of sustainable development and risk management into their strategy, not only to minimize potential losses but also to exploit new business opportunities which result from the principles of sustainable economic development.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://anale.steconomiceuoradea.ro/volume/2012/n1/184.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

    Volume (Year): 1 (2012)
    Issue (Month): 1 (July)
    Pages: 1248-1254

    as in new window
    Handle: RePEc:ora:journl:v:1:y:2012:i:1:p:1248-1254

    Contact details of provider:
    Postal: Universitatii str. 1, Office F209, 410087 Oradea, Bihor
    Phone: +40259408799
    Fax: 004 0259 408409
    Email:
    Web page: http://anale.steconomiceuoradea.ro/
    More information through EDIRC

    Related research

    Keywords: risk management; sustenability; strategic risk; social risk; environmental risk;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ora:journl:v:1:y:2012:i:1:p:1248-1254. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catalin ZMOLE).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.