Risk Taking Propensity and Firm Internationalisation Process

Janusz Fudaliński ()
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Janusz Fudaliński: Cracow University of Economics

Entrepreneurial Business and Economics Review, 2015, vol. 3, issue 2, 85-104

Abstract: The aim of this paper is to present necessary characteristics of solutions related to risk management in the conditions of high environment turbulence from the perspective of international businesses. The paper is based on extensive literature review, synthesized for preeminent conceptions of risk management within operations undertaken in international environment with its proper specifics. The paper is divided into four main parts. The first section presents the concept of business internationalisation in general. The dilemmas related to the idea of strategic risk application are discussed in the second passage. It is followed by a discussion on the risk undertaken by firms while entering into international markets. Finally, the paper presents the methods and models of risk management in international markets. Knowledge of risk management models fosters management focused on survival and development of the firm, including its international growth. The catalogue of formulas for minimizing presence of unfavourable phenomena and events for the company should be enriched by experiences from the area of project management processes and project formulas of business management. Present research may contribute to the construction of a rational model of the risk management process, in particular in the case of adoption of a development strategy based on the internationalisation.

Keywords: Internationalisation; risk management; risk taking propensity; strategic risk; international business; business external environment (search for similar items in EconPapers)
JEL-codes: D81 F23 L26 M16 (search for similar items in EconPapers)
Date: 2015
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