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Service Risk Management in Emerging Economies

Service Risk Management in Emerging Economies
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Author(s): Yilmaz Akgunduz (Dokuz Eylül University, Turkey)
Copyright: 2017
Pages: 26
Source title: Promotional Strategies and New Service Opportunities in Emerging Economies
Source Author(s)/Editor(s): Vipin Nadda (University of Sunderland, UK), Sumesh Dadwal (Northumbria University, UK)and Roya Rahimi (University of Wolverhampton, UK)
DOI: 10.4018/978-1-5225-2206-5.ch004

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Abstract

The economies of countries face various risks depending on the environmental conditions. While some of these risks do not pose very serious negative effects on developed economies, they may be destructive on non-developed, underdeveloped or emerging economies. Risk management is accepted as a process for all economies. The risk management process starts with the determination of the risks, and goes on with the assessments of the risks, the determination of various strategies that may respond to the risks; and the application of the most suitable one from among these strategies. In risk management, in order to respond to the risk, emerging economies may select one of the methods like tolerating the risk (accepting it), managing it, transferring, eliminating or making use of its opportunities. In this chapter, the risk management strategies have been explained, examples are given from Turkey, which is has many characteristics of an emerging economic structure.

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