Purpose: The purpose of the article is to review two important issues within management and quality sciences, namely capital management and risk management. Design/methodology/approach: Due to the cognitive nature of the article, the aim of the work will be achieved using the method of analyzing the literature on the subject. Literature studies include Polish and foreign publications. Findings: The conducted literature analysis has shown that sources dealing with capital management issues and the cost of capital treat the problem of risk very casually. Similarly, in publications referring to the issue of risk, it rarely refers to capital and its cost. This paper indicates the need for a comprehensive approach to these two issues, indicating the close relationship between them that occurs in the field of management and quality sciences. Research limitations/implications: The research presented in the article is theoretical and may contribute to further empirical research. Practical implications: The practical implications of the conducted research are associated with the possibility of their application for the needs of management decisions in enterprises. Originality/value: A review of the literature on the subject shows that the issues of capital management and risk management are often treated separately and undertaken as independent research areas. This article indicates the need for a comprehensive approach to capital management and risk management and their consideration. The author proves that management decisions regarding raising capital result in a specific cost of capital. This in turn largely depends on the level of risk associated with investing in the enterprise.
There is an analysis in the paper about new Excellence Model - EFQM 2010 version. The EFQM Excellence Model: is a structure for the organisation's management system, can be used as part of a self-assessment, provides a framework for comparison with other organisations, helps to identify areas for Improvement. The EFQM Excellence Model is a non-prescriptive framework based on 9 criteria. Five of these are "Enablers" and four are "Results". In the paper there is an analysis on sustainable business conception which is in the model. We think that such complementation of the model is beneficial from quality management point of view.
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