THEORETICAL APPROACH OF MANAGERIAL RISK
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Authors:
• Ph.D.Professor Ioan Constantin DIMA, email: dima.ioan_constantin@yahoo.com, Afiliation: Valahia University of Târgovişte
• Ph.D.Lecturer Maria MĂCRIŞ, email: mariamacris2011@yahoo.com, Afiliation: University of PetroşaniPages:
• 15|20 -
Keywords: risk, uncertainty, risk assessment.
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Abstract:
The place and role of risk in managerial activity must be analysed by taking into account the relation where the two concepts about risk are, namely: The concept suggested by the decision theory and concept suggested by managers. It is necessary to take into account managers’ behaviour towards the risk defined by the theory of choice, which leads to the following conclusion: managers actually assume risks and express preferences in terms of risk, using techniques and procedures – other than the traditional ones – such as media, variation of probabilistic distributions of possible outcomes, etc.
