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Risk management in industrial companies

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2 Author(s)
Kadarova, J. ; Dept. of Ind. Eng. & Manage., Tech. Univ. of Kosice, Kosice, Slovakia ; Durkacova, M.

Nowadays business world is constantly changing. It is unpredictable, volatile and fraught with risk. Risk assessment provides a mechanism for identifying which risks represent opportunities and which represent potential pitfalls. Done right, a risk assessment gives industrial companies a clear view of variables to which they may be exposed, whether internal or external, retrospective or forward-looking, qualitative or quantitative. A good risk management takes a broad perspective on identifying the risks that could cause a company to fail to meet its strategies and objectives. In this statement several techniques for identifying and analyzing company risks are discussed and illustrated.

Published in:

Applied Machine Intelligence and Informatics (SAMI), 2012 IEEE 10th International Symposium on

Date of Conference:

26-28 Jan. 2012