Research Regarding the Reputational Risk of Oil and Gas Companies Operating in Romania Business Market

Elena FLEACA, Bogdan FLEACA, Andreea DUMITRESCU

Abstract


Romania’s business environment has been through a series of changes, both politically and economically and therefore, the companies operating in this particular industry have been obliged to rapidly adapt to these new conditions in order to sustainably develop. In order to achieve compliance with these regulations, oil and gas companies have been required to spend copious amounts of resources, as the nature of their activity is very prone to environmental impact, which is, moreover, exacerbated by the relatively old age of their infrastructure. The paper aims to emphasize the importance of a correct assessment of reputational risk as it enables the enhancement of the organisation by strengthening the stakeholders‘ trust and securing business continuity in rather difficult circumstances in terms of health and safety, community and environmental concerns.


Keywords


reputation; risk management; sustainable development

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DOI: http://dx.doi.org/10.15835/buasvmcn-hort:10436




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