Issue: № 5, 2023
Doi: https://doi.org/10.37634/efp.2023.5.15
The role of risk as a base category in the enterprise management system is substantiated, which determines the possibility of losses and additional costs and, at the same time, is a necessary condition for profit. The essence and components of the process of economic risk management at the enterprise are investigated. It is determined that the process of economic risk management characterizes the combination of the following main components: identification and assessment of the level of risk; making management decisions and choosing risk management tools; implementation of adopted risk management decisions; control over the implementation of management decisions and assessment of their effectiveness. The composition of internal regulatory documents that can be used to regulate economic relations in the field of risk management at the enterprise is determined. Principles and peculiarities of formation of risk management strategy at the enterprise in conditions of systemic financial and economic crisis are organized. It is substantiated that strategic risk management should be based on the principles: complexity, adaptability, analytics, economy and scientific substantiation. The main stages of formation of strategy of management of risk of economic activity of enterprise are substantiated: identification and structuring of risks; analysis of the nature and characteristics of risk factors; assessment of the level of exposure to individual types of risk and determination of the overall level of risk; forecasting of losses of the enterprise as a result of occurrence of risk events by certain types of risks; making strategic decisions on risk management and developing a mechanism for practical implementation of the risk management strategy. A model of the enterprise risk management process with a focus on the strategic component of management with an enhanced control and analytical component and an adaptive component has been developed.
Keywords : risk management, economic activity, strategy, enterprise, crisis, analytical toolkit, control
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