Naslov
RISK MANAGEMENT IN PHARMACEUTICAL INDUSTRY IN CROATIA

Autori
Wittine, Zoran ; Bošnjak, Mile ; Puljić, Tea

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
8th International Scientific Symposium on Economy of Eastern Croatia - Vision and Growth / Leko Šimić, M. ; Crnković, B. - Osijek : Ekonomski fakultet Sveučilišta Josipa Jurja Strossmayera u Osijeku, 2019, 1365-1380

Skup
8. međunarodni znanstveni simpozij: Gospodarstvo istočne Hrvatske – vizija i razvoj = 8th International Scientific Symposium: Economy of Eastern Croatia – Vision and Growth

Mjesto i datum
Osijek, Hrvatska, 30.05.2019. - 31.05.2019

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Podatak o recenziji nije dostupan

Ključne riječi
risk ; risk management ; pharmaceutical industry ; Croatia

Sažetak
The pharmaceutical industry is one of the most profitable industries in the world and undoubtedly one of the most significant industries in Croatia. In the "Industrial Strategy of Republic of Croatia 2014-2020" the pharmaceutical industry has been evaluated as one of the key Croatian industries due to its notable export orientation, continuous positive operating results and the employment of a significant number of people. This paper seeks to identify which which business risks occur within the pharmaceutical industry in Croatia, investigates whether and in which proportion pharmaceutical company in Croatia adopted risk management system and seeks to identify where where the greatest risks come from. Inadequate risk management can cause enormous losses for the enterprise and can even be related to company downfall. Therefore, it is extremely important to understand potential risks companies are facing in order to develop adequate methods for their management. Authors conducted primary and secondary research. Secondary research was aimed at analysis of key financial indicators of the pharmaceutical industry in Croatia, while primary research was carried out in order to reflect upon researched topic and get insights for directions of further research. The research was conducted using a structured online questionnaire on a sample of 28 pharmaceutical companies licensed for the production and distribution of pharmaceuticals in Croatia. Research results revealed that pharmaceutical companies in Croatia have incorporated risk management guidelines, but do not use specialized risk management services. Most companies do not plan to increase expenditures to improve the risk management process over the next twelve months, because of the high costs of implementation along with the perceived complexity of such systems and lack of knowledge within the company. Research identified that within the pharmaceutical industry the greatest risks are perceived to be the risks of competition, followed by credit risk and regulatory and political risks.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA