A risk management framework for Greek exports

Abstract

Fifteen years have passed since the economic crisis of 2007 and its effects are still evident in all aspects of economy worldwide. Nevertheless, risk management tools are available and allow both identification, assessment and evaluation of risks which might have failed to prevent the crisis. Since then, Covid-19 pandemic erupted, causing business inconvenience. It seems now clearer than ever that risk management’s necessity is high in the business continuity. Exports are the key factor of the Greek economy. During the Greek economic crisis, Greek companies have shifted their focus to international markets, trying to overcome the effects of the crisis. Greek exporters have had astonishing results in the last three years, which lead to double-digit growth and exports now being equivalent to one third of the country's GDP. This master thesis will present the concept of risk management and strategic planning and it will then present the main risk concept on export companies. Research carried out through several interviews, allowed us to understand the business environment in which Greek companies operate, as well as how they face risks and how they turn them into a competitive advantage to enhance their efficiency and performance.