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The Need for Determining and Assessing Risk in Economic Activity

Authors
  • Milandru, Marius
Type
Published Article
Journal
International conference KNOWLEDGE-BASED ORGANIZATION
Publisher
Sciendo
Publication Date
Jun 01, 2019
Volume
25
Issue
2
Pages
63–68
Identifiers
DOI: 10.2478/kbo-2019-0058
Source
De Gruyter
Keywords
License
Green

Abstract

In modern terms, risk management is a concept applicable to economic agents, which represent a factor that generates economic and financial performance. In this respect, I appreciate that it is obvious that risk management is a necessity in the activity of any organization regardless of the field of activity or its objectives. Additionally, observing the procedural elements specific to the identification, analysis, quantification and assessment of the economic risk will lead to the company being correctly diagnosed and facilitates the identification of solutions for its elimination, or mitigation within the parameters of a controllable area.

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