BLOGO-ENCICLOPEDIA

1.  Basis of Risk management The risk is defined and understood in several ways. The term dates from the mid 17th century, when  it was  met as  risque  in  French and  rischo  (derived  from risch) in Italian[1, p.1]. Dictionaries  define  risk,  also  in  different  ways.  Romanian  explanatory dictionary defines risk as "the chance to get into danger, to have to face trouble or support a  loss, possible danger”[6]. In the  market economy, risk  is defined as "a probably  and  future  event,  the  occurrence  of  which  could  cause  some loss ."[8] According to economic dictionary edited by The Economist, risk taking is the basis of capitalism and is responsible for a part of the economy growth.[4] Any human activity may be associated with a certain amount of risk. To understand  better  the  concept  of  risk  is  necessary  to  make  a  clear distinction between risk and uncertainty. Risk refers to situations where objective probabilitie