2019REPORTER OF THE PRIAZOVSKYI STATE TECHNICAL UNIVERSITY Section Economic sciencesOpen access

Risk management as a component of the financial security management system in enterprise.

Olena Khadzhynova, Mikhail Kurtyanik

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Abstract

The article considers the risk management system, as a component of the general enterprise management system, ensures the financial security of the enterprise. The essential characteristic of risk management is given, its objectives and goals of implementation at the enterprise are determined. The basis of the study is a set of theoretical, methodological and practical issues of the process of building a risk management system in an enterprise. The authors found that in today's economic realities it is necessary to move to a new risk management model. The authors proposed to carry out the process of building a risk management system in several successive stages. The first stage is the organization and development of a common risk management policy; the second stage is risk identification; the third stage is the assessment of risks and the results of their impact on the business of the enterprise; the fourth stage - the development of risk management techniques; the fifth stage is the formation of a monitoring and control system. For each of the stages of risk management, a specific basis on which the entire risk management system is built. The authors concluded that risk management does not give every minute result and is aimed at a long-term nature and gaining additional competitive advantages in the future.

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What this paper is about

The article considers the risk management system, as a component of the general enterprise management system, ensures the financial security of the enterprise. The essential characteristic of risk management is given, its objectives and goals of implementation at the enterprise are determined. The basis of the study is a set of theoretical, methodological and practical issues of the process of building a risk management system in an enterprise. The authors found that in today's economic realities it is necessary to move to a new risk management model. The authors proposed to carry out the process of building a risk management system in several successive stages. The first stage is the organization and development of a common risk management policy; the second stage is risk identification; the third stage is the assessment of risks and the results of their impact on the business of the enterprise; the fourth stage - the development of risk management techniques; the fifth stage is the formation of a monitoring and control system. For each of the stages of risk management, a specific basis on which the entire risk management system is built. The authors concluded that risk management does not give every minute result and is aimed at a long-term nature and gaining additional competitive advantages in the future.

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Available abstract

The article considers the risk management system, as a component of the general enterprise management system, ensures the financial security of the enterprise. The essential characteristic of risk management is given, its objectives and goals of implementation at the enterprise are determined. The basis of the study is a set of theoretical, methodological and practical issues of the process of building a risk management system in an enterprise. The authors found that in today's economic realities it is necessary to move to a new risk management model. The authors proposed to carry out the process of building a risk management system in several successive stages. The first stage is the organization and development of a common risk management policy; the second stage is risk identification; the third stage is the assessment of risks and the results of their impact on the business of the enterprise; the fourth stage - the development of risk management techniques; the fifth stage is the formation of a monitoring and control system. For each of the stages of risk management, a specific basis on which the entire risk management system is built. The authors concluded that risk management does not give every minute result and is aimed at a long-term nature and gaining additional competitive advantages in the future.

Key concepts: Enterprise risk management, Risk management, IT risk management, Risk analysis (engineering), Digital firm, Process management, Business, Security management

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