TY - CHAP A1 - Gabriela Dobrota ED1 - Nerija Banaitiene Y1 - 2012-09-12 PY - 2012 T1 - Risk Management in Business – The Foundation of Performance in Economic Organizations N2 - Every business and decision involves a certain amount of risk. Risk might cause a loss to a company. This does not mean, however, that businesses cannot take risks. As disengagement and risk aversion may result in missed business opportunities, which will lead to slower growth and reduced prosperity of a company. In today's increasingly complex and diverse environment, it is crucial to find the right balance between risk aversion and risk taking. To do this it is essential to understand the complex, out of the whole range of economic, technical, operational, environmental and social risks associated with the company's activities. However, risk management is about much more than merely avoiding or successfully deriving benefit from opportunities. Risk management is the identification, assessment, and prioritization of risks. Lastly, risk management helps a company to handle the risks associated with a rapidly changing business environment. BT - Risk Management SP - Ch. 11 UR - https://doi.org/10.5772/50706 DO - 10.5772/50706 SN - PB - IntechOpen CY - Rijeka Y2 - 2021-04-19 ER -