Risk Management in SMEs in Czech Republic
| Authors | |
|---|---|
| Year of publication | 2017 |
| Type | Article in Proceedings |
| Conference | Systems Thinking for Everyone |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | Risk management Business strategy financial crisis strategic position knowledge management competitiveness |
| Description | Business management stands in today's complex and dynamic business environment ahead of the crucial task of ensuring the requirements of all involved stakeholders in the required way. For future-oriented entrepreneurship, effective knowledge of risk management is absolutely necessary, particularly in terms of increasing demand and limited business conditions. Functional and target-directed risk management is a vital contribution and need for corporate governance. For small and medium-sized enterprises (SMEs) it is a particularly important part applying this knowledge in the context of changing business conditions (legislative change, economic change in the field of direct and indirect taxes, in regulatory measures and standards, etc.) The knowledge, use and implementation of internal risk management processes can fundamentally change the view of business management. The concept of risk management includes a wide range of definitions or interpretations, but the presented article considers risk and risk management as one of the possible effects on the achievement of the company's objectives, not in terms of financial management and reorganization of the company, but in relation to the continuity of business and prevention of the possible damages caused by the company's activities. |