IMPROVING THE RISK MANAGEMENT SYSTEM AS A WAY TO INCREASE THE FINANCIAL RESILIENCE OF ENTERPRISES

Abstract

The article explores the main ways to improve the risk management system within an enterprise, with a particular emphasis on the necessity of integrating a risk-oriented approach into the company's management processes. In the context of global political and economic changes, especially due to the impact of war and increasing market instability, the need for companies to adapt to new conditions has become critically important. The risks faced by enterprises are all-encompassing and diverse, requiring timely identification, assessment, and appropriate responses to minimize potential losses and ensure the stable functioning of the organization.

The purpose of the article is to explore ways to improve risk management within enterprises and implement risk-oriented management. The research employs methods of systems analysis, induction, deduction, and data visualization. The article focuses on the theoretical foundations and practical aspects of risk management. In particular, it highlights the importance of integrating risk-oriented approaches at all levels of the enterprise's management activities, ensuring effective responses to both external and internal threats.

The article discusses the main stages in building a risk management system, with particular emphasis placed on risk identification and quantitative risk assessment. Risk identification involves detecting all potential threats that may affect the enterprise's operations. The risk assessment methodology, along with their aggregation using the Monte Carlo method, allows for a quantitative assessment of overall risk, which is essential for making informed strategic decisions. It also emphasizes the necessity of cultivating an appropriate risk culture within the enterprise, which helps engage every employee in risk management.

The article underscores the importance of integrating risk management at all levels of the enterprise as a foundation for enhancing its financial resilience. Identifying risks, quantitatively assessing them, and implementing effective management models not only help prevent potential losses but also significantly increase the chances of successful development in a constantly changing external environment.