Pages: 45-57
Introduction. This paper examines the importance of risk management within small and medium-sized enterprises (SMEs) and investigates the specific situation in Romania. SMEs represent a vital component of the European economy, making significant contributions to the generated value added and beyond. Effective risk management is essential for the survival and success of these enterprises. A correct understanding of the context, without actually facing the same challenges, is particularly important for guiding and advising other entrepreneurs.
Aim of the study. This paper aims to highlight a few models of organizational culture, approaches, features, characteristics and implementation strategies. At the same time, the paper offers a brief review of the empirical research of the terms published in the specialized literature, including various conceptual frameworks such as: “corporate culture”, “workplace culture”, “business culture”, but also an analysis of the organizational culture that is permanently created and modified so as to ensure the continuity and efficiency of the organization.The utility of this paper lies in offering a comprehensive perspective on the importance of risk management in SMEs and proposing directions and solutions for its improvement. The paper highlights the need for implementing effective risk management internally at the SME level to protect and sustainably develop them. By identifying and assessing risks, developing risk management plans, and continuously monitoring and updating these plans, SMEs can become more resilient to changes and challenges in the business environment. To achieve this, the paper proposes a risk assessment checklist for evaluating and accurately planning the directions of action and development for SMEs. This evaluation is valuable for any SME in different stages of its existence.
