BUSINESS IDEA VIABILITY FROM THE ASPECT OF RISK

• Main Authors: Verica Jovanović, Zorka Grandov, Maja Đokić, Miodrag Tojagić
• Format: Article
• Language: English
• Published: University Business Academy in Novi Sad Faculty of Law for Commerce and Judiciary 2011-06-01
• Series: Pravo
• Online Access: https://casopis.pravni-fakultet.edu.rs/index.php/ltp/article/view/253

Placement of a new product or service on market has always been considered risky for every businessman, and in today’s conditions of crises it represents salient business danger. Therefore the main intention of this paper is to show the key plan activities which should be undertaken by every business responsible businessman before making a step on the slipping ground of crises market. An accent is put on three basic principles which test the success of the future business: investigation of market business idea activities, its feasibility and viability assessment, as well as risk assessment of its realization. Besides that, as a special aspect of the contribution to the reduction of our businessmen’s business failure, the paper shows a suitable model of integrated assessment of business ideas viability. The importance of this model lies in the fact that it considers the risk factor as an integral part of the observed business economic efficiency, which significantly increases the objectivity in expected business results assessment.