Risk management in international business development projects

Abstract

Solutions for the development of international business require special scientific knowledge due to the circumstances of their complexity. In globalization and the development of international business, risk management has become particularly relevant. However, risk management has received considerable attention in international business development papers during the last few years; still, some questions are not answered, with particular emphasis on the analysis of risk elements. Insufficient or inappropriate corporate development decisionmaking negatively affects an international company's performance. The authors identified the unsuccessful cases of international expansion of five enterprises to foreign countries. Seeking to minimize the risks, the enterprises could find out other solutions helping to expand to foreign markets without physical presence and search for partners, which could help to reach the customers of these markets.