RISK MANAGEMENT MECHANISMS IN THE PROCESS OF AN ENTERPRISE'S SALES ACTIVITIES

Keywords: risk management, sales activities, enterprise, management mechanisms, sales efficiency, management strategies, economic stability, competitiveness

Abstract

The relevance of the study is rooted in the growing importance of effective risk management in sales activities amidst the challenges posed by globalization, intensified competition, and rapidly evolving market conditions. The study highlights the critical role of risk management in sales activities, emphasizing its significance in the context of digital transformation, the adoption of innovative marketing strategies, and evolving consumer preferences. It stresses the need for enterprises to adopt comprehensive risk management strategies that integrate technical tools with human-centric approaches to mitigate potential threats and enhance resilience. The absence of such mechanisms can result in declining sales, market share loss, or financial instability. The research aims to analyze existing approaches and tools for risk management in sales activities, identify critical risk factors affecting sales efficiency, and examine practical models for optimizing risk management in marketing and sales domains. The study defines risk as a potential threat or uncertainty capable of disrupting strategic or operational objectives, highlighting its multifaceted nature—ranging from financial and operational to managerial and external environmental risks. The article provides a detailed classification of risks encountered in sales activities, such as those related to demand fluctuations, competitive pressures, operational inefficiencies, and financial uncertainties. Demand-related risks, including consumer preference shifts and seasonal variations, present significant challenges for enterprises. Competitive risks arise from market dynamics, such as the entry of new competitors or pricing wars, potentially eroding market share and profitability. Operational risks pertain to inefficiencies in supply chain management and inventory control, while financial risks involve currency fluctuations, liquidity issues, or client payment defaults. To address these challenges, the article proposes a set of risk management mechanisms tailored for sales processes. These include predictive analytics, integrated supply chain solutions, and strategic adjustments based on market trends. The study emphasizes that effective risk management not only minimizes losses but also strengthens market adaptability and long-term sustainability.

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Published
2024-10-28
How to Cite
Nazarenko, S., Chornous, O., & Fylyk, A. (2024). RISK MANAGEMENT MECHANISMS IN THE PROCESS OF AN ENTERPRISE’S SALES ACTIVITIES. Economy and Society, (68). https://doi.org/10.32782/2524-0072/2024-68-145
Section
MANAGEMENT