THE IMPORTANCE OF RISK MANAGEMENT IN KOSOVO BUSINESSES

Year 2012, Volume: 4 Issue: 2, 161 - 169, 01.12.2012

Sejdi Rexhepi Gresa Latifi

Abstract

Even that corporative governance in Kosovo is evident after the 1998-99 war in a restricted number of enterprises, besides the fact that the majority of businesses are small and just a few of them are middle and big, it does not mean that risk management is less important than in other countries of the world. Therefore in this study work it will be shortly explained theoretical aspects in Risk Management and an analysis based on a concrete research regarding to Risk Management in Kosovo businesses in order to evaluate consequences, to increase the awareness of businesses for Risk Management and to give professional and scientific recommendations for successful corporative governance

Keywords

Risk, Management, Kosovo businesses, Corporative governance, Auditing

References

• References from books: John H.Hampton, Fundamentals of Enterprise Risk Management: How Top Companies Assess Risk, Manage Exposure and Seize Opportunities, Amacom, United States of America 2009;
• Douglas W.Hubbard, The Failure of Risk Management, why it is broken and how to fix it, published by John Wiley and the Sons, Inc., Hoboken, New Jersey, 2009;
• Paul M.Collier, Fundamentals of Risk Management for Accounts and Managers tools and techniques, Elsevier Linacre House, Jordan Hill, Oxford, UK, 2009;
• K.H Spencer Pickett, Auditing the risk Management Process, published by SAI Global Ltd, Sydney, Australia, 2004;
• Gerard Blokdijk, Claire Engle and Jacky Brewster, IT Risk Management Guide, Emereo Pty Limited, 2008;
• Carl Olsson, Risk Management in Emerging Markets how to survive and prosper, Financial Times/Prentice Hall, April 24, 2004;
• Tony Merna and Faisal F. Al-thani, Corporate Risk Management Organizational Perspective, Wiley, 2005;
• Micheal H.Morris, Donald F.Kuratko and Jeffery G.Covin, Corporate Entrepreneurship and Innovation, South-Western College Pub; 2 edition, 2008. Internet Resources: www.andrewjacoblsonfinancial.com/emerging-markets/introduction.html
• The Institute or Risk Management, www.theirmorg/publications/ Gap Monitor of Government decisions, www.gapmonitor.org Economic Initiative for Kosovo, www.eciks.org Ministry of Foreign Affairs, Kosovo’s Economy, Vital Statistics, www.mfa-ks.net Kosovo Agency of Statistics, Publications, Economic statistics, 2012), www.esk.rks-gov.net/publikimet/cat_view/10-statistikat-ekonomike/12-regjistri-i- konsoliduar-statistikor-i-bizneseve