INFORMATIONAL SYSTEM FOR EARLY NOTICE – INSTRUMENT FOR MANAGING THE ECONOMIC RISKS

Secăreanu Constantin () and Dridea Catrinel ()
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Secăreanu Constantin: Romanian-American University
Dridea Catrinel: Romanian-American University

Romanian Economic Business Review, 2017, vol. 12, issue 4, 89-97

Abstract: In the current period, most notably known for the frequent and diversified events which generate a higher exposure of economic activities to the risk factors, any organization should identify three systems that will represent guidance for an effective management in decision making:- An early notice system, which will detect and signal early on the possible turbulence sources;- A system of analysis, evaluation and ranking of the identified risks, regarding the vulnerability (the possibility of materialization) and magnitude (impact);- A rapid reaction system, by devising and applying risks related strategies.The present study focuses on analyzing the methods and techniques used for the first system, for valorizing the quantitative and qualitative information in a general, coherent and correlated context, that will allow the identification of the major risks sources: internal or external shocks, conjunctural or mid-term, favorable or unfavorable trends for the long term.

Keywords: risks identification; risks typology; early notice systems; micro-risks; macro-risks (search for similar items in EconPapers)
Date: 2017
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