RISK FACTORS INFLUENCING GLOBAL BUSINESSES IN SERVICES INDUSTRIES IN A WORLD OF OVERLAPPING CRISES

Georgeta Ilie

Social-Economic Debates, 2022, vol. 11, issue 1, 14-23

Abstract: This paper highlights the implications of multiple crises that manifest themselves in 2022 materialized in severe risks for businesses, individuals and governments related with their role as partners in international services businesses. At the level of many international institutions and companies, there is a main concern in identifying global risks affecting the business environment after the pandemic and in the context of the Ukrainian conflict and its consequences. Every business decision maker is concerned more than ever with building the best strategy in a strong relationship with global threats. In this paper, we try to bring together the main categories of risks with strong impact on global businesses in service industries identified by specialized institutions. Over the last decades, service businesses have seen a spectacular evolution and nowadays it covers all aspects of economic, social and technological areas. The interest of the analysis in this paper is to capture to what extent the risks identified as critical for economies, companies and society as a whole impact the businesses in the service industries, given their particular sensitivity to global risk factors, considering that the service sector covers a very wide area of segments from tourism, transport to businesses focused on digitization. Classification-F23, F51, L84, O14

Keywords: global risks; international service business; pandemic crisis; Russian-Ukrainian conflict (search for similar items in EconPapers)
Date: 2022
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