FORMATION OF RISK MANAGEMENT SYSTEM AT INDUSTRIAL ENTERPRISES

Abstract

The presence of a significant number of different risks, which are influenced by the management of industrial enterprises and taking into account which they are forced to make management decisions has determined the relevance of the chosen research topic. Numerous theoretical and, as a consequence, practical aspects of managing various risks that accompany the operation of industrial enterprises were considered in the works of B. Barkley, R. Dembo, S. Drew, M. Frenkel, P. Hopkin and other foreign researchers, and soon also in works of numerous domestic scientists V. Danchuk, V. Nemchenko, T. Pismena, A. Sviderska, K. Semenova, K. Tarasova and other researchers. The need to implement an integrated approach to risk management makes sense not only within a single business entity, but also in the totality of established sectors and sectors of economic and industrial activities. The vast majority of characteristics that determine the nature of risk, associate it with the probability of implementation and the possibility of inflicting damage, which correlates with the definition of risk as part of the uncertainty. All actions that take place during the risk management process must be subject to continuous monitoring and be under the constant control of the company’s management. Risks must be assessed taking into account the specifics of not only the entity but the economic system in which it is integrated. Risks should be considered as a dynamic quantity that can affect the subject in both negative and stimulating ways. Risk management in industrial enterprises should be focused on identifying the causes of various risks, and the use of all factors that ensure optimal development of industrial enterprises in conditions of economic uncertainty. The existence of two concepts of risk management is substantiated: traditional and modern. The traditional concept is characterized by the fragmentary nature of risk management, episodic risk management. The modern concept is based on an integrated approach to management and continuous risk management. The implementation of dynamic models involves the use of various methodologies, such as: the use of a system of balanced scores (Balanced Score Card), the application of logistics principles in the management of certain types of risks, the transition to integrated risk management systems. Approaches to risk management at industrial enterprises are defined. The key conditions in the field of risk management are formulated, under which this process will be the most effective between the various elements of the system. Statistical and dynamic models are singled out within the approaches to risk management, the peculiarities of their application are considered. The principles of logistics are considered, based on general approaches to the procedures of response and regulation of the probability of threats in the management of risks in the enterprise, which aim to ensure the coordination of logistics functions. The concept of integrated risk system at enterprises is highlighted, the advantages of its use are determined. The common methodology of risk management COSO ERM (Enterprise Risk Management - Integrated Framework Committee of Sponsoring Organizations of the Treadway Commission) is analyzed. The model of integrated risk management and its stages are presented.