Risk Management in International Bussiness

Rozalia Nistor, Costel Nistor () and Mihaela Muntean ()

MPRA Paper from University Library of Munich, Germany

Abstract: Any activity or economic effort is based on a number of unknown and uncertain factors or opportunities simply because its subject is located in the future. All decisions or actions that will lead to a production process or act of foreign trade is inevitably initiated or taken in circumstances of uncertainty and risk. There are sometimes situations where the uncertainty is too high, making it virtually impossible because a decision or goal in itself or the way that it can achieve are not sufficiently defined, or that risks could be totally destructive. In normal economic life, we don’t have to choose between risky situations and certain situations, but between different degrees of risk and different outcomes.

Keywords: risk; uncertainty; variable; risk cost (search for similar items in EconPapers)
JEL-codes: D81 F23 F50 G32 (search for similar items in EconPapers)
Date: 2009
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Published in The Annals of “Dunarea de Jos” University of Galati Fascicle I – 2009. Economics and Applied Informatics. Years XV – no 2 - ISSN 1584-0409 (2009): pp. 731-744

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