%0 Journal Article %T Risk Management in the Age of Turbulence - Failures and Challenges %A Daniela MATEI %A Dragos CRISTEA %A Alexandru CAPATINA %J Annals of Dun£¿rea de Jos University. Fascicle I : Economics and Applied Informatics %D 2012 %I Dunarea de Jos University of Galati %X Today¡¯s business, being affected by the continuous changes in economic environment, must reinvent the ¡°prudent risk taking¡± concept to strike an appropriate balance between risk, return and growth, in order to create lasting value. This paper is focused on describing the nature of risk and the objectives of risk management. In the context of more attractive risk conceptual simplifications which often lead to significant errors, the paper explains the failures in risk management, the way of their occurrence and the methods of reducing their occurrence. %K Risk management %K Distribution of returns %K Failures %K Globalization %K Risk measurement models %U http://www.eia.feaa.ugal.ro/sites/default/files/Matei_Cristea_Capatina.pdf; http://www.ann.ugal.ro/eco/Doc2012.2/Matei_Cristea_Capatina.pdf