Impact Of Risk Management On Organizational Efficiency

ABSTRACT Treatments of risk in the international management literature largely focus on particular uncertainties to the exclusion of other interrelated uncertainties. This paper develops a frame work for categorizing the uncertainties faced by firms operating internationally and outlines both financial and strategic corporate risk management responses. Managing risk is one of the primary objectives of firms operating internationally and locally [Ghoshal 1987]. Nevertheless, current treatments of risk and uncertainty in the international management literature vary in their use of these terms an…