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Risks Impact on the Accommodation and Food Services: The Case of Latvia

Author

Listed:
  • Inga Jansone

    (Riga Technical University, Latvia)

  • Irina Voronova

    (Riga Technical University, Latvia)

Abstract

The target of this work is to research risks impact on the commercial activity of the accommodation and food services sector’s enterprises. Classification of technological process risks of the accommodation (hotel) and food services are created in the article. The authors have carried out a survey of the most important risks’ factors in the stages of the technological process. Classification of Latvian accommodation and food services sector’s economic and financial risks are created in the period from year 2012 till year 2013. Risks ranking method, experts’ method and special coefficient method are used to analyse risks impact on Latvian accommodation and food services sector enterprises’ development. The risks matrixes are used as risks assessment tools. Risks are arranged by the size of potential losses. The risks assessments by using the special coefficient method are made in the period from year 2007 till year 2012. The authors have offered rating of external and internal risks by their impact on the commercial activity of enterprises. The authors have used their own created model of enterprises’ risks identification, classification and assessment that to research risks impact on Latvian accommodation and food services sector enterprises’ development.

Suggested Citation

  • Inga Jansone & Irina Voronova, 2014. "Risks Impact on the Accommodation and Food Services: The Case of Latvia," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 2(2), pages 45-62.
    • Handle: RePEc:ejn:ejefjr:v:2:y:2014:i:2:p:45-62
    DOI: 10.15604/ejef.2014.02.02.004
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    References listed on IDEAS

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    3. Irina Voronova, 2012. "Financial Risks: Cases Of Non-Financial Enterprises," Chapters, in: Jan Emblemsvag (ed.), Risk Management for the Future - Theory and Cases, IntechOpen.
    4. Irina Voronova, 2008. "Methods of analysis and estimation of risks at the enterprises of non‐financial sphere of Latvia," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 9(4), pages 319-326, October.
    5. Ilona Baumane & Rebekka Vedina, 2011. "Capacities and Competencies as Sources of Competitive Advantage: The Case Study of Latvian Hotels," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(2), pages 301-318, May.
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