CONCEPTUAL BASIS OF RISK-ORIENTED APPROACH TO MANAGEMENT IN THE PROCESS OF PROVIDING ECONOMIC SECURITY OF ENTERPRISES OF DIFFERENT BRANCHES OF THE NATIONAL ECONOMY

Abstract

The author explores the conceptual bases of ensuring the economic security of the enterprise on the basis of risk-oriented approach to management, which provides concentration of limited resources of the enterprise in the zones of maximum risk to prevent its realization and causing losses, through a set of actions for identification, analysis, evaluation and processing of risks. The basic principles of risk-oriented management that will ensure its maximum effective integration into all business processes of the enterprise are offered. In order to transform risks and increase business efficiency, it is proposed that the enterprise build management at the enterprise based on the specified elements of risk-oriented approach to management, based on the development of risk management strategy, embedding risk-oriented approach in business processes, improvement of internal control system and processes, also on optimizing risk management functions. The context of implementing risk management to ensure the economic security of the enterprise is illustrated. External context determination is proposed using SWOT analysis, PEST analysis, Porter force analysis, and more. The author investigates a number of requirements of market participants, legislation, etc., which are exposed to risk management within the framework of risk-oriented approach. The sequence of the risk management process, which can be applied to the whole enterprise or to certain spheres of activity, as well as restrictions that affect the scope of the risk-oriented approach, are determined. The author illustrates the decision-making process of risk assessment.