Josip Kereta – University of Applied Sciences Baltazar ZapreΕ‘iΔ, ZapreΕ‘iΔ, V. Novaka 23, Croatia
DOI: https://doi.org/10.31410/EMAN.2022.115
6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-57-8, ISSN 2683-4510
Β Abstract:
Modern business conditions change significantly and the company and the management face the challenge of how to predict the future and make timely decisions to prepare the company for future business. Therefore, increasΒing attention is paid to the issue of risk management. This paper presents a theΒoretical and practical contribution to understanding the importance of risk management systems in Croatian companies operating in international marΒkets. Modern business conditions are discussed in the introduction, and then the term βrisk management systemβ is conceptually discussed. The research part of the paper presents the results of empirical research on the perception of respondents about the degree of development of risk management systems in their companies using the βWeight of Evidenceβ method. The βWeight of EviΒdenceβ method is a method used to calculate the value of the strength of the inΒfluence of each represented variable from the observed samples on the defined target variable. A low level of system development has been established. Risk management systems, unfortunately, are only used by large companies. The application of a comprehensive risk management system can significantly inΒcrease the efficiency and effectiveness of the companyβs business, and accelerΒate the economic development of the Republic of Croatia.
Keywords:
Risk; Risk management; Croatian companies; Competitiveness; βWeight of evidenceβ method;
International business
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