DEVELOPMENT OF RISK MANAGEMENT MODEL IN ENTERPRISE MANAGEMENT SYSTEM

Abstract

The article explores the process of forming a risk management model in enterprise management systems. Enterprises require effective risk management to enhance operational efficiency. Integrating risk management into all aspects of management becomes a key factor in mitigating threats and ensuring stability in uncertain business environments. It has been identified that the essence of risk management lies in identifying potential deviations from planned outcomes and managing these deviations to enhance prospects, reduce losses, and increase the rationality of decisions made. Risk management is a process of first identifying opportunities for improvement and then preventing or reducing the likelihood of adverse events. Therefore, the article has enhanced the risk management model in the enterprise management system, as it provides a more detailed depiction of all stages of its formation and implementation. The first step in the model involves defining the responsibilities and duties of top management. Subsequently, it includes analyzing enterprise and environmental characteristics, justifying risk management strategies, policies, tactics, measures, and tools. It also entails integrating risk management into business processes and appointing responsible individuals for risk management development, implementation, and maintenance. The next step involves implementing the risk management system, including setting temporary boundaries, strategies, policies, and integrating risk management processes into organizational operations. Subsequent stages include monitoring all stages and processes of system implementation to identify deficiencies and deviations for necessary adjustments. The final stage involves regulating the risk management system by making necessary changes to achieve planned performance indicators. The goal of this model is to strike a necessary balance between enterprise strategic opportunities and risk levels and find an optimal balance between high-risk levels potentially leading to bankruptcy and complete risk avoidance resulting in loss of competitiveness. The risk management model should become an integral part of the organization's management subsystem.