THE OPERATIONAL RISK MANAGEMENT IN THE ROMANIAN SMEs

Abstract

The prerequisite for the smooth functioning of the business risk management is the correct identification. Basically, identifying business risks is fundamental to determine the optimal level of protection for a given activity. If the risk is underestimated, the protection will be insufficient to cover losses and, if overstated, the cost of protection will reduce the excess proceeds of the activity. The objective of this research was to identify the internal and external major factors which influence the present activities and the future of the SMEs from the North East region The method used in this paper work is based on a questionnaire applied to a sample of 120 top managers coming from various fields of activity, operating on the market for more than two years. The management of information and the data collection was conducted in the late 2013. In the first stage, a total of 35 risks was identified. The further evaluation of the results used the probability and the impact of the identified risks, based on questionnaires and by processing information from the documentation provided by the managers of SMEs taken under the analysis.