scholarly journals Risk and Uncertainty in the Russian Model of Management

2021 ◽  
Vol 18 (3) ◽  
pp. 28-36
Author(s):  
Vladimir S. Diev
Keyword(s):  
Risk Management ◽  
Natural Environment ◽  
Stable Phase ◽  
Risk And Uncertainty ◽  
Dual Nature ◽  
Quantitative Characteristics ◽  
Model Of Management ◽  
National Model ◽  
Russian Model ◽  
Integral Indicator

The paperexamines the attitude to uncertainty and risk withinthe Russian model of management by A.P. Prokhorov. It is shown that the attitudeis determined by the dual nature of this model. The Russian managementsystem in itsmobilization phase easily copes with the uncertainty and allows risky decisions. In the stable phase, the Russian model rejects risk, and security, understood as maintaining the achieved state, becomes a priority. A risky situation is a type of uncertain one when the occurrence of possible events is probable and can be estimated. In this situation, it is possible to assess the likelihood of events resulting from the influence of the natural environment, the actions of partners, opponents, etc., which cannot be done in a situationof uncertainty, and this is thekey factor that distinguishes between risk and uncertainty. Wedefine risk as an integral indicator that combines assessments of both the probabilities of implementing a solution and the quantitative characteristics of its consequences. Thus, risk management presupposes, first of all, a conscious and rational choice. Since changing the national model of management takes a lot of time, wesuggest to try to change the attitude to risk in modern Russian organizations.

Social Media Analytics for Maintaining Financial Stability

2019 ◽  
pp. 219-242
Author(s):  
Sebin B. Nidhiri ◽  
Sakshi Saxena
Keyword(s):  
Social Media ◽  
Risk Management ◽  
Economic Activity ◽  
Financial Stability ◽  
World Wide ◽  
Social Media Analytics ◽  
Risk And Uncertainty ◽  
Dynamic Data ◽  
The World ◽  
Recent Developments

Risk and uncertainty are disliked but inevitable. The nature of these has changed and new sources of risk have risen. To mitigate risk and maintain financial stability, the firms need to adapt. The world wide web and, within it, social media have had tremendous growth and wide coverage lately, making them determining forces in any economic activity. This has led to generation of large amount of data on myriad concerns. Recent developments in computing technology has thrown open the possibility of mining useful information from the enormous and dynamic data. The chapter outlines the growth of social media and social media analytics and its financial implications to businesses, consumers, and governments. It details how risk management and social media, two domains earlier considered more diverged than chalk and cheese are now inextricably linked and explains using various cases how social media analytics is used to manage risk and uncertainty. The authors also look at the emerging challenges with these developments.

THE METHODOLOGICAL VALUE OF THE CLASSIFICATION IN THE COMPANY FINANCIAL RISK MANAGEMENT SYSTEM

2020 ◽  
Author(s):  
A.A. Fathulin ◽  
N. A. Fathulina ◽  
S. N. Basova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Risk ◽  
Methodological Approach ◽  
Financial Risks ◽  
Risk And Uncertainty ◽  
Financial Risk Management ◽  
Risk Management System

The complexity of understanding the nature of risks, as well as the diversity of their types and manifestations, including financial risks, requires the use of a methodological approach to their classification. Classification of financial risks is of particular importance in the company's activities in order to effectively manage them. The article analyzes the concepts of "risk" and "uncertainty", and provides risk classifications for various reasons. It is concluded that it is possible to control and manage risks through comprehensive accounting and, accordingly, prevention of various types of threats and uncertainties in the company's activities.

SIMULATION OPTIMIZATION: APPLICATIONS IN RISK MANAGEMENT

2008 ◽  
Vol 07 (04) ◽  
pp. 571-587 ◽  
Author(s):  
MARCO BETTER ◽  
FRED GLOVER ◽  
GARY KOCHENBERGER ◽  
HAIBO WANG
Keyword(s):  
Risk Management ◽  
Business Process ◽  
Process Design ◽  
Simulation Optimization ◽  
Optimization Methods ◽  
Optimization Approach ◽  
Risk And Uncertainty ◽  
Business Process Design ◽  
Managing Risk

Simulation optimization is providing solutions to important practical problems previously beyond reach. This paper explores how new approaches are significantly expanding the power of simulation optimization for managing risk. Recent advances in simulation optimization technology are leading to new opportunities to solve problems more effectively. Specifically, in applications involving risk and uncertainty, simulation optimization surpasses the capabilities of other optimization methods not only in the quality of solutions but also in their interpretability and practicality. In this paper, we demonstrate the advantages of using a simulation optimization approach to tackle risky decisions, by showcasing the methodology on two popular applications from the areas of finance and business process design.

scholarly journals The current demand for the insurability of liability for damage to the natural environment

2009 ◽  
Vol 55 (No. 1) ◽  
pp. 33-39
Author(s):  
E. Vávrová
Keyword(s):  
Risk Management ◽  
Natural Resources ◽  
Natural Environment ◽  
Solvency Ii ◽  
Environmental Damage ◽  
The European Union ◽  
Natural Conditions ◽  
Enterprise Risk ◽  
Potential Risks ◽  
Potential Damage

Since 2004, the basic document which has governed liability for damage to the natural environment in the European Union is the Environmental Liability Directive No. 2004/35/EC, as amended by the subsequent regulation No. 2006/21/EC. The main purpose of the legislation was to ensure that the entity responsible for the damage pays all costs for rectifying its consequences. If it concerns damage to natural environment, the operator must undertake measures for rehabilitation, replacement and regeneration of the damaged natural resources. The primary replacement, which returns the damaged natural resources to their original state, may be differentiated from complementary replacement as compensation in the case in which the primary replacement has not provided an adequate reparation, and finally compensatory replacement – compensation for the temporary loss of natural conditions. This paper aims at an analysis of the possible means for eliminating risks due to the liability for environmental damage caused by the actions of an operator whose activities potentially threaten natural environment and may cause the biodiversity damage. Risks are assessed with regard to the risk insurability criteria for potential damage to the natural environment. The importance of risk management is stressed in the sophisticated form known as the Enterprise Risk Management. Risk management is becoming increasingly important as a part of the Solvency II concept, currently in preparation, whose first and second pillars accentuate risk management in financial institutions and the consistent quantification of the obvious, hidden and potential risks.

Fundamentals for the Challenge of Controlling Risk Through Standardization

2021 ◽  
pp. 185-198
Author(s):  
Vicente González-Prida ◽  
Jesús P. Zamora ◽  
Pablo Viveros Gunckel
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Risk Control ◽  
Future Research ◽  
Risk And Uncertainty ◽  
Current Management ◽  
Management Models ◽  
Iso 31000 ◽  
Standards And Guidelines ◽  
Risk Concept

This chapter is intended to deal with the topic of standardization as a solution for risk control and decision making, mainly in high technologized context. For that purpose, this document starts introducing the reason of controlling risk as well as the uncertainty background that lays in different sectors. After that, the risk management evolution is outlined, defining briefly the risk concept, mentioning some current management models and enumerating the more relevant norms, standards, and guidelines for risk management. From this point, an overview on the standard ISO 31000 about risk management is provided in order to finally summarize some possible future research lines and some conclusions about this groundwork on risk and uncertainty.

Russian Model of Institutional Change: Empirical-Statistical Research

2010 ◽  
pp. 97-114 ◽  
Author(s):  
S. Kirdina ◽  
I. Kirilyuk ◽  
A. Rubinstein ◽  
A. Tolmacheva
Keyword(s):  
Institutional Change ◽  
Transaction Costs ◽  
Statistical Research ◽  
Social Actors ◽  
Quantitative Characteristics ◽  
Legislative Initiative ◽  
Federal Laws ◽  
The Government ◽  
The Right ◽  
Russian Model

The quantitative characteristics of the Russian model of institutional change and its dynamics from 1994 up to 2009 are considered in the paper. The model of institutional change is represented by a group of social actors with the right of legislative initiative (the president, the government, deputies of the Federal Assembly, regional legislative bodies, courts) and the parameters of transaction costs (the average term of enacting federal laws initiated by different actors). Research was based on the specially created database LAWSTREAM.RU.

Tourism sector within pandemic quarantine: problems and solutions

2021 ◽  
Vol 72 (2) ◽  
pp. 61-73
Author(s):  
D.A. Koshcheev ◽  
O.Yu. Isopeskul
Keyword(s):  
Russian Regions ◽  
Tourism Sector ◽  
Problems And Solutions ◽  
Perm Krai ◽  
National Model ◽  
Laissez Faire ◽  
Opinion Polls ◽  
Russian Model ◽  
Criterion Approach ◽  
Support Model

The present investigation provides one of the first complex attempts of theorizing on changes in tourism sector activity within COVID-19 quarantine. Drawing from system and criterion approach weusedthe analysis of official documents and news publication to identify 8 international models of tourism sector support within the pandemic quarantine. Each model was considered with the instrument of strengths and weaknesses analysis. By reviewing Russian national model we conducted deeper analyses juxtaposing and describing experience of Russian regions. Drawing from aтopinion poll realized in Perm krai we described some special features of each tourism sector segment activity within COVID-19 pandemic quarantine. The opinion polls mentioned also showed some limitations of Russian tourism sector support model. With regard to the data mentioned, we proposed the concept of the national electronic exchange service of tourism and resort. This system will potentially support the Russian model in the condition of epidemic crisis, helping the national tourism sector to save and then to restore its activity following laissez-faire principle.

scholarly journals Importance, Causes, and Management Responses to Farm Risks: Evidence From Florida and Alabama

1985 ◽  
Vol 17 (2) ◽  
pp. 105-116 ◽  
Author(s):  
William G. Boggess ◽  
Kwabena A. Anaman ◽  
Gregory D. Hanson
Keyword(s):  
Risk Management ◽  
Logistic Regression ◽  
Management Practices ◽  
Summary Statistics ◽  
Relative Importance ◽  
Risk And Uncertainty ◽  
Chi Square ◽  
Perceptions Of Risk ◽  
Regression Techniques ◽  
Random Survey

AbstractDespite the contention that risk and uncertainty play an important role in agriculture in North Florida and South Alabama, very little is known about producers' perceptions of risk. This paper describes the procedures used and the results obtained from a statistically random survey of farmers' perceptions of the importance of various sources of risk and alternative risk management practices. Initially, farmers were asked to define risk and then to rank various sources of risk and management responses to risk based on the relative importance of each to their operation. Summary statistics, Chi-square analyses, and logistic regression techniques were used to analyze the data.

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