Template-Type: ReDIF-Article 1.0
Author-Name: Raja RAOUANE
Author-Email: raja_raouane@hotmail.com
Author-Workplace-Name: Faculty of Law, Economics and Social Sciences, Agdal. Mohamed V University, Rabat, Morocco
Author-Name: Salim EL HADDAD
Author-Email: salimelhaddad97@gmail.com
Author-Workplace-Name: Faculty of Law, Economics and Social Sciences, Agdal. Mohamed V University, Rabat, Morocco
Title: The management of financial risks: the possible failure of an important tool
Abstract: The growth of the Internet has forced companies to invest in the field of risk management. Several risk management tools, such as creating a risk culture, participatory management, categorization system, and monitoring unit, have been developed. However, it is essential to understand how risk management has evolved in recent years and how to carry out effective risk management. This essay aims to answer important questions related to the nature of risks faced by firms, their analysis and measurement, the possibility of anticipating and preventing them, and the transformation of companies' management due to the evolution of risks. The advent of the Internet has had a profound impact on the business landscape, necessitating the adoption of robust risk management practices. To effectively manage risks, it is crucial to understand and analyze the various risks to which businesses are exposed. This involves developing a risk culture within the organization, implementing participatory management approaches, utilizing categorization systems, and establishing dedicated monitoring units. Anticipation and prevention play a crucial role in mitigating risks and ensuring the long-term sustainability of businesses. The transformation of business management is heavily influenced by the evolving nature of risks, calling for adaptability and proactive strategies. By integrating multidisciplinary theoretical frameworks into risk management practices, its effectiveness and comprehensiveness can be enhanced.   Paper Type: Theoretical Research JEL Classification: G32, D81, M10 Keywords: Risk management, Internet, risk culture, participatory management, categorization system, monitoring unit, risk governance.
Keywords: Risk management, Internet, risk culture, participatory management, categorization system, monitoring unit, risk governance
Journal: International Journal of Accounting, Finance, Auditing, Management and Economics
Pages: 111-124
Volume: 4
Issue: 3-1
Year: 2023
File-URL: https://ijafame.org/index.php/ijafame/article/view/928
File-Format: text/html
File-URL: https://ijafame.org/index.php/ijafame/article/view/928/927
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Handle: RePEc:aoa:journl:v:4:y:2023:i:3-1:p:111-124