Daniel S. Neagoie

Management of Risks

In the context of an organization, risk is defined as any event or circumstance that can negatively affect that organization. Risks can appear because of the uncertainty on the financial markets, because of project failures, legal debt, crediting risk, accidents, natural causes, and catastrophes, as well as intentional attacks from a competitor or other unpredictable events. Therefore, we can talk about management risks, such as brand and reputation risk; competition risk; customer risk; bankruptcy and the risk induced by suppliers; operational risks such as the commercial, personnel, technological, and e-risk; and financial risks.

Utilizing Data from Social Media to Inform Business Decisions: The Case for Facebook

We argue that the true power behind social media lies in its ability to provide data for business decisions. This chapter presents a framework and mapping process for extracting data from social media into the various marketing functions. We use Facebook as the particular social media and show how the data from Facebook maps into the four major functions of marketing. We then show how this data can provide information that is new, more genuine, more efficient to obtain, and more readily available than data obtained from traditional marketing research tools. Finally, we provide a simple example of how this process was used for an educational institution.

Entrepreneurial Myopia and Succession-Based Crises in Family Businesses: A Strategic Options Perspective

It is often suggested that the typical governance structures of family businesses provide them with a long-term horizon of strategic decision-making and a certain kind of stability. However, in case of business successions, family businesses are confronted with a new situation that challenges the former balance and marks a transition to a new one. It is hard to prepare for such situations, so in case of such transitions, the number of alternatives to find a new “balance” is rather restricted.

From Conformism to a Culture of Integrity

Regulating activities and complying with regulations, practice and professional codes, as well as the acknowledged good practices have therefore become more and more important. These necessities appear the more pregnant in the context of an economic crisis generated specifically by not complying with regulations, good practices, ethical principles, and values, which ultimately led to corruption. One of the most important responsibilities of the management structure in any organization is creating an appropriate framework, an internal control system that ensures the organization’s compliance with the applicable regulation framework, and with the applicable codes of conduct, practice codes and professional codes, as well as with their own policies and procedures. This system must ensure the prevention, detection, and the correct management of the organization-specific compliance risks.

Developing Practice Codes for Integrity in Business

Practice codes are voluntary statements which express the values, actions, and fundamental principles of the organization, through which the company assumes the incumbent obligations. These codes have the purpose of offering guidance for the members of the society and can establish specific behaviors requested by members.

Instead of Conclusions

In order for the measures to be implemented in the business sector in developing mechanisms that support the promotion of a culture of integrity to fulfill their purpose with maximum efficiency, it is necessary to monitor and evaluate the impact these have (upon the employees, investors, clients/consumers, etc.).

Corporate Social Responsibility—From Concept to Business Strategy

In 2001, the European Commission presented the green book regarding Promoting a European Setting for the Corporate Social Responsibility, where CSR was defined as being a concept through which companies voluntarily integrate interests regarding society and the environment in their operations and interaction with stakeholders. In a strategy updated for CSR and presented by the Commission in 2011, this definition has been updated in order to obtain an easier to understand concept: the responsibility of the SMEs for the impact of their actions on the society.

Domains Where Business Integrity Matters

Building business relationships based on trust is essential in obtaining long-term success.