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The Concept of Risk in Finance and Strategy: Are We Arriving at the Crossroads?

Abstract
This paper points out the divergence in treatment of risk in the fields of strategy and finance and seeks to encourage research that addresses this issue. The objective of the paper is to advocate a greater synthesis of these fields in order to create a greater understanding of how risk must be commonly viewed by both strategists and financial executives. This goal can only be accomplished by understanding how economic forces in the remote business environment affect demand for services and products that in turn affect the revenue streams of hospitality enterprises. This must be followed by a better understanding of the causal relationships that exist between the variables that affect the key value drivers associated with the cost structure of these enterprises.
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Date
2004-01-01
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