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Risk Taking Propensity and Firm Internationalisation Process

Author

Listed:
  • Janusz Fudaliński

    (Cracow University of Economics)

Abstract

The aim of this paper is to present necessary characteristics of solutions related to risk management in the conditions of high environment turbulence from the perspective of international businesses. The paper is based on extensive literature review, synthesized for preeminent conceptions of risk management within operations undertaken in international environment with its proper specifics. The paper is divided into four main parts. The first section presents the concept of business internationalisation in general. The dilemmas related to the idea of strategic risk application are discussed in the second passage. It is followed by a discussion on the risk undertaken by firms while entering into international markets. Finally, the paper presents the methods and models of risk management in international markets. Knowledge of risk management models fosters management focused on survival and development of the firm, including its international growth. The catalogue of formulas for minimizing presence of unfavourable phenomena and events for the company should be enriched by experiences from the area of project management processes and project formulas of business management. Present research may contribute to the construction of a rational model of the risk management process, in particular in the case of adoption of a development strategy based on the internationalisation.

Suggested Citation

  • Janusz Fudaliński, 2015. "Risk Taking Propensity and Firm Internationalisation Process," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 3(2), pages 85-104.
    • Handle: RePEc:krk:eberjl:v:3:y:2015:i:2:p:85-104
    as

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    File URL: http://eber.uek.krakow.pl/index.php/eber/article/download/83/100
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    References listed on IDEAS

    as
    1. Daszkiewicz Nelly & Wach Krzysztof, 2014. "Motives for Going International and Entry Modes of Family Firms in Poland," Journal of Intercultural Management, Sciendo, vol. 6(2), pages 5-18, April.
    2. Lailani Laynesa Alcantara & Hitoshi Mitsuhashi, 2013. "Dynamics of entering politically risky foreign markets," Management Research Review, Emerald Group Publishing Limited, vol. 36(6), pages 580-595, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Internationalisation; risk management; risk taking propensity; strategic risk; international business; business external environment;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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