Necessity of the Risk Management Implementation in the Framework of the Socially Responsible Entrepreneurship

Katarina Buganova () and Maria Hudakova ()
Additional contact information
Katarina Buganova: University of Zilina, Slovakia
Maria Hudakova: University of Zilina, Slovakia

Godishnik na UNSS, 2017, issue 1, 61-71

Abstract: The dynamic development of the global business environment raises a number of issues that require that managers should consider the possible negative impact of their daily decision-making. The erroneous decisions affect not only a company's stakeholders but also its further development. Therefore sustainable growth of the business requires that company managers should be able to anticipate potential risks, manage change and thus avert a possible crisis. This paper aims to make an analysis of the state of affairs with regard to corporate social responsibility and risk management abroad. It also aims to assess the flaws in implementing risk management in the framework of the socially responsible entrepreneurship. The conclusions arrived at suggest that a successful implementation of risk management in the enterprises is mainly dependent on managers' attitudes to risk and in the appropriately adjusted corporate culture.

Keywords: risk; risk management; social responsibility of companies (search for similar items in EconPapers)
JEL-codes: M14 M15 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
http://unwe-yearbook.org/en/journalissues/article/9930 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nwe:godish:y:2017:i:1:p:61-71

Access Statistics for this article

More articles in Godishnik na UNSS from University of National and World Economy, Sofia, Bulgaria Contact information at EDIRC.
Bibliographic data for series maintained by Vanya Lazarova ().