RISK MANAGEMENT OF BUSINESS STRUCTURES: ASPECTS OF RISK MANAGEMEN

Abstract

The article is devoted to the topical issue of risk management of business structures, which is the basis of work on determining and reducing the degree of risk through the system of risk management and the system of economic (mainly financial) relations that arise in the process of this management, including strategies and tactics of management actions. It was determined that the implementation of a functional risk management approach is characteristic of business structures. The essence of risk is studied through its aspects such as uncertainty, opportunity and danger. It is substantiated that risk management of business structures is manifested through a system of a complex of measures aimed at minimizing possible business losses in connection with the occurrence of adverse events. An integral element of the risk management system is identified - the risk management policy of the business structure, which manifests itself through the means of implementation, which allow to reduce the negative impact of internal and external environmental risks on the activity of the business structure. The means of implementing the risk management policy, which are based on a certain set of actions aimed at identifying, evaluating, preventing or minimizing risks to an acceptable level, are substantiated. The program of risk management of business structures includes methods of hierarchy analysis along with systemic, process, contextual approaches and methods used in practice. The business process of risk management of the entrepreneurial structure is proposed, which allows, through economically justified recommendations and actions, to reduce the overall level of business risk to an acceptable level. The recommendations regarding the organization of the enterprise risk management system based on the COSO ERM methodology are substantiated. The main tasks of risk management of business structures according to the COSO ERM methodology are defined, which allow, using information about cause-and-effect relationships between risks, to determine the corresponding dangers and probabilities associated with them and their possible consequences and losses. The methodology proposed by COSO is aimed not only at the timely identification and assessment of risks, but also at taking into account the common goals of the company during its analysis, as well as at the constant monitoring of risks. This contributes to the timely identification and clarification of control measures regarding already identified risks.