Risk management in the business sector in the Czech Republic

Abstract

The paper is focused on risks and risk management in the context of the current business environment in the Czech Republic. As a result of the Great Depression in 2007-2009 this subsystem of the management of companies is increasingly being discussed. We perceive as a necessity the risk management and its implementation in the enterprise management system in today's conditions of rapid change plus the uncertainty today. In the increasingly rapid changes of the environment we must be able to respond flexibly to identify possible potential risks and uncertainties and also be able to actively manage the business, which can successfully identify and manage potential risks and gains a competitive advantage. Another advantage then is the understanding of the risks, not only in the traditional negative connotations of threats and opportunities. In this paper, the authors introduce the basic terminology associated with the management of risks, and present the results of the research,which was conducted in the period of October-December 2013. The aim was to obtain feedback from the business sector of awareness and level of use of risk management in the Czech economy and to answer two research questions: Is a risk considered to be a factor for the competitiveness of the management company ? Is risk management used predominantly by large organizations?