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Risk Management and Its Economic-Financial Importance

Author

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  • Svetlana BRADUTAN

Abstract

Risk management refers to balancing risk and earnings, generally those who run businesses naturally assume the risk because they get in that position as a result of past successes. The challenge for managers is the intelligent risk-taking. Running a successful business means taking advantage of the most accurate business opportunities according to the company's financial and managerial opportunities. In fact, risk management is the balance between art and science. Risk management is a matter of balance between processes and people. Risk monitoring is important, but more important is to find the right people in the right places and at the same time, to be motivated, because the ultimate risk management depends on people.

Suggested Citation

  • Svetlana BRADUTAN, 2013. "Risk Management and Its Economic-Financial Importance," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 61(2), pages 167-170, May.
    • Handle: RePEc:rsr:supplm:v:61:y:2013:i:2:p:167-170
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    More about this item

    Keywords

    mangement; risk; event; threats; company; objective; profir; firm;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • 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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