Assoc. Prof. Dan NASTASE PhD
Master Ana Maria Melania PAUN
Master Adrian RADU
„Artifex” University of Bucharest
Abstract
The complexity of economic and social relations, plus the development of science and technology have created significant changes in the approach of the theoretical and practical concepts of risk and uncertainty at the firm level. First, issues were imposed on the content and meaning of concepts of risk and uncertainty in general, the views of various experts in this area is extremely diverse.
Risk can be viewed as representing the inability of firms to adapt to time and at the lowest cost to environmental changes. Viewed from this perspective, the risk of which affect a company’s primary source of business climate instability (item exogenous firm) and inability to counter the economic timely and inexpensively effects of the evolving environment in which it operates. In this sense, a profitable activity today may become uneconomic in the future due to changes in unfavorable environmental conditions. It follows that risk is a permanent feature of the activity of a firm, it must implement appropriate risk management mechanisms, highlighting the changes faster and intervention measures.
