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Risk management under the conditions of globalization

Author

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  • E. Yu. Lopatina

    () (World Economy and Economics Chair, Volgograd State Technical University, Russia)

Abstract

The important place in European society structure is occupied by the group of people carrying out similar activity, which could be called an enterprise (business) stratum. The social and economic approach requires to consider within scientific research not only the business activity, but also the subject of business activity, namely a figure of the businessman. The essence of business activity in all the contents is filled with risks of various characteristics. The risk as the phenomenon of the enterprise represents a part of its usual activity. The capital investments possibility, the employment of the new employee, the realization of the goods and services in the market, the formation of the price or signing of the sale agreement could involve business risks. The experience of development in many European countries shows that ignoring, underestimation and the small accounting of the specifics of enterprise risks when developing tactical and strategic tools of economic policy of enterprise subjects definitely restricts the development of modern society and puts the economic system on lower levels. Risk management is a new phenomenon for the development of European members' economies which arose upon economy transition to market system of managing. The majority of 'newcomers' in European business do not yet understand up to the end and estimate inevitability of risk and importance of its account in business activity. In the article, according to the considered directions of the globalization processes influence the risks of business activity having paramount value for competitiveness of the companies in the conditions of globalization were considered.

Suggested Citation

  • E. Yu. Lopatina, 2012. "Risk management under the conditions of globalization," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 4(2), pages 150-157, Decembre.
  • Handle: RePEc:rse:wpaper:v:4:y:2012:i:2:p:150-157
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    More about this item

    Keywords

    risk; risk management; globalization; European experience; entrepreneurship; business risk; business activity.;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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