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

  • Elena FLEACA University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
  • Bogdan FLEACA University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
  • Andreea DUMITRESCU University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
Keywords: reputation, risk management, sustainable development

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.

Author Biographies

Elena FLEACA, University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
Management Department, Associate professor
Bogdan FLEACA, University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
Management Department, Assistant professor, Ph.D. student
Andreea DUMITRESCU, University POLITEHNICA of Bucharest, Faculty of Entrepreneurship, Business Engineering and Management
Management Department, Assistant professor, Ph.D. Student
Published
2014-12-02