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Strategic Decision Making and Risk Management in the EU

Strategic Decision Making and Risk Management in the EU
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Author(s): Imre Sabahat Ersoy (Marmara University, Turkey)
Copyright: 2019
Pages: 17
Source title: Handbook of Research on Managerial Thinking in Global Business Economics
Source Author(s)/Editor(s): Hasan Dinçer (Istanbul Medipol University, Turkey)and Serhat Yüksel (Istanbul Medipol University, Turkey)
DOI: 10.4018/978-1-5225-7180-3.ch016

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Abstract

Innovative managerial thinking in global business economics necessitates the follow-up of the developments in the international regulatory framework of risk management for strategic decision making. The risk management framework which evolved from Basel I to Basel III (or with the December 2017 finalizations, the way the market calls it “Basel IV”) in the world economies and Capital Requirements Directive (CRD) V and Capital Requirements Regulation (CRR) II in the European Union have been game changers. Global managers need to take strategic decisions in this new international risk management setting in order to succeed in the competitive global business environment. For effective capital management, risk function and finance function should come together. For effective implementation, this mix should be supported by establishing partnership among the risk, finance, and strategy groups.

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