IDEAS home Printed from https://ideas.repec.org/a/rom/econmn/v12y2009i1p259-270.html
   My bibliography  Save this article

Risk management in the entrepreneurship in Romania in the context of the economic crisis

Author

Listed:
  • Felicia Adriana LUPU

    () (The Bucharest Academy of Economic Studies, Romania)

Abstract

The future of business depends, in a determinant way, on the manner in which the companies have the risk under control. In businesses, risk management entails organized activity to manage uncertainty and threats and involves people following procedures and using tools in order to ensure conformance with risk-management policies. In practice, balancing between risks with a high probability of occurrence but lower loss versus a risk with high loss but lower probability of occurrence can often be very difficult. Risk management also faces difficulties allocating resources. Resources spent on risk management could have been spent on more profitable activities. Again, ideal risk management minimizes spending while maximizing the reduction of the negative effects of risks. This paper presents the possibilities and the limits of the risk management implementation in the entrepreneurship in Romania in the context of the economic crisis, starting from the concept of risk management and observing the reality from the small and medium size enterprise.

Suggested Citation

  • Felicia Adriana LUPU, 2009. "Risk management in the entrepreneurship in Romania in the context of the economic crisis," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(1), pages 259-270, June.
  • Handle: RePEc:rom:econmn:v:12:y:2009:i:1:p:259-270
    as

    Download full text from publisher

    File URL: http://www.management.ase.ro/reveconomia/2009-1/21.pdf
    Download Restriction: no

    More about this item

    Keywords

    risk management; decision; entrepreneurship; economic crisis;

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:econmn:v:12:y:2009:i:1:p:259-270. 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: (Ciocoiu Nadia Carmen). General contact details of provider: http://edirc.repec.org/data/mnasero.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.