engleski

Risk attitude assesment study: Croatian case

Contemporary business conditions are characterised by the dynamics and complexity of the environment and increasing company differentiation. Such conditions impede the transparency of future events and increase uncertainty in every segment of business operation. As a result, the target function of the company, i.e. enhancing the company’s worth, is increasingly exposed to various forms of risk. This is why the issue of risk management is getting more and more attention. The fundamental problem of any form of management, including risk management, is creating appropriate circumstances, which assumes that there is a high level of correspondence between required and available information and knowledge. This requirement suggests that risk management conditions result from the relationship between the risk as the object and the decision maker/manager as the subject of risk management. The attitude to risks assumes knowledge, understanding and application of appropriate procedures for spotting and recognizing risk. Attitude to risks can be measured and assessed indirectly, by measuring and assessing the level of current and relative success of the company’s operation, and directly, by measuring and assessing the knowledge and application of appropriate risk management procedures. In this study we have applied the following methods: survey, mathematical and statistical methods as well as methods of researching and studying available literature including analysis, synthesis, deduction and induction. We have also used theoretical and practical experience of developed Western countries that companies in countries in transition, including Croatia, should lean on in their future economic development. The results of the study conducted in a company operating in the real sector confirm that it is possible to measure and assess the attitude to risks both indirectly and directly, and that there is correlation between these two types of assessment. If managers recognize risks and are familiar with the risk management process, this will lead to successful company operation and vice versa, lack of knowledge and failure to manage risk will lead to inadequate business results.

Management, Risk, Risk Management

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