RISK MANAGEMENT AT THE ENTERPRISE

Abstract

Ukrainian scientists and entrepreneurs consider risk management as an important function, but this function often remains limited and fragmented. The main goal of this management is to prevent or reduce possible losses. In particular, risk managers are often associated with the insurance industry, and this limits their approach to risks. In recent decades, the topic of enterprise risk management has attracted considerable attention in scientific research. This is confirmed by a number of relevant and interesting scientific works that focus on various aspects of risk management. The article is devoted to increasing the level of understanding and effectiveness of risk management at the enterprise to ensure its stability, competitiveness and successful development. The definitions of the concepts of enterprise risk management and the structure of enterprise risk management are provided. The historical prerequisites for the emergence of the risk management process at the enterprise were studied. It is proven that in order to achieve financial and other success, an enterprise must be aware of potential risks that may affect safety, reputation, profits, operations, etc. A business that ignores risks and how to mitigate them can potentially face catastrophic consequences. The typology of risks that individual industries may face is considered. A number of risks faced by companies in the financial sector and companies working in the IT sector and on the Internet have been studied. The existing cyber threats for the modern enterprise have been studied. The topic of enterprise risk management remains very relevant and important for the modern business environment. Recent scientific research confirms the need for an integrated approach to risk management, as well as a focus on new types of risks, such as cyber security and climate change. An effective risk management mechanism helps enterprises increase resistance to negative impacts and ensure stability in difficult conditions. Therefore, further development and research in this area are extremely important for the successful functioning of enterprises in the modern world.