scholarly journals Uncertainty and Risk Phenomenon in the Enterprise Managing

2021 ◽  
pp. 129-138
Author(s):  
R.M. Kachalov ◽  
◽  
F.L. Kurshina ◽  
O.A. Pletenenko ◽  
◽  
...  
Keyword(s):  
Risk Management ◽  
Control Object ◽  
Risk Level ◽  
Economic Science ◽  
Economic Risk ◽  
Operational Characteristics ◽  
Management Procedures ◽  
Modern Economic ◽  
Specific Culture ◽  
Uncertain Future

Periods of aggravation of the situation in the economy and politics, especially in connection with the crisis and transformation processes in society, are usually accompanied by increased interest in the problem of the phenomenon of risk and uncertainty in the economy. In this regard, the main results of creating methodological support and its practical application for solving management problems of modern production enterprises are analyzed. It is taken into account that management decisions are developed and implemented in an uncertain future state of the management object, as well as incomplete information about the past and current state of the surrounding socio-economic environment. Since in this case it is impossible to estimate in advance possible hindrances and obstacles to the «movement» of the controlled object to the goal and ways to overcome them, modern economic science has introduced the concept of «the phenomenon of economic risk» to solve this problem. It is proved that with the help of this concept and its applied characteristics, it is possible to analyze the purposeful activity of the control object and develop ways to control it when moving towards the goal in conditions of uncertainty. The main operational characteristics and variables of the risk management subsystem are analyzed, as well as applied methods for implementing risk management procedures in modern enterprises. It is shown that to reduce the economic risk level in the activities of enterprises, first of all, it is necessary to draw attention to the problem of forming a specific culture of risk management within economic organizations, which will allow using the advantages and positive features of such a culture to improve the efficiency of enterprises, including in the conditions of digitalization of the general economic space. The hypothesis is introduced that the inevitable spread of risk management in the practice of modern and especially promising enterprises as economic managed objects should be based, including on the application of the achievements of behavioral economic theory.

ENVIRONMENTAL AND ECONOMIC RISK MANAGEMENT AS A WAY TO IMPROVE THE EFFICIENCY OF CONSTRUCTION PRODUCTION

2020 ◽  
Author(s):  
S.E. Manzhilevskaya ◽  
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Environmental Degradation ◽  
Management System ◽  
Economic Losses ◽  
Risk Level ◽  
Economic Risk ◽  
Risk Management System ◽  
Economic Risks

The article analyzes the environmental and economic risks of construction production, and how to manage them. The article discusses the levels of environmental and economic risks and proposes a model for their management. Management of environmental and economic risks is based on the development of such a tool as risk analysis. The environmental and economic risk management system is a system of measures aimed at reducing the risk level of economic losses of objects of various production and economic levels due to environmental degradation.

scholarly journals Strategic risk management for enhanced corporate governance

2016 ◽  
Vol 13 (4) ◽  
pp. 173-182 ◽  
Author(s):  
Hugh Grove ◽  
Maclyn Clouse
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Corporate Governance ◽  
Boards Of Directors ◽  
Prediction Models ◽  
Management Approach ◽  
Economic Risk ◽  
Management Procedures ◽  
International Investing ◽  
Chinese Company

The purpose of this research is to develop and apply risk management procedures to enhance corporate governance, using examples of Chinese company investments. Strategy and risk should be considered together by management and boards of directors as they need to know what risks are embedded in potential or approved strategies. Strategy and risk are linked and may be viewed as two sides of the same coin. One of the fastest ways to massive value destruction is to undertake a strategy without a thorough consideration of the related risks. Well-known financial fraud prediction models and ratios are applied to an ongoing, possible fraudulent Chinese company. They generated numerous red flags for possible fraudulent financial reporting, using one and two standard deviation measurements for risk assessment. This paper finds potential international equity and debt investment destruction of $12.9 billion for this one company and $34.5 billion when this company’s investment losses are combined with three other ongoing possible Chinese fraud companies. In summary, a risk management approach for enhanced corporate governance is developed and applied to the strategy of international investing. A case study is used to demonstrate both a macro-economic risk assessment of an investment target country and a micro-economic risk assessment of an investment target company, using fraud models and ratios

scholarly journals Application of ISO 31000-Based Risk Assessment to Improve Balanced Scorecard Performance at Shofa Pharmacy

2021 ◽  
Vol 8 (2) ◽  
pp. 251
Author(s):  
Riko Luke Nugroho ◽  
Perminas Pangeran
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Balanced Scorecard ◽  
Risk Group ◽  
Political Risk ◽  
Risk Level ◽  
Economic Risk ◽  
Project Risk ◽  
The Balanced Scorecard ◽  
Iso 31000

This study aims to integrate the Balanced Scorecard and Risk Management at Shofa Pharmacy and its one branch. The risk assessment is based on the ISO 31000 framework model and the Balanced Scorecard is based on a financial perspective, a customer perspective, an internal business perspective and a learning and growth perspective. The results of risk identification show that the risks faced by Shofa Pharmacy are financial risk, operational risk, technology risk, business ethics risk, health and safety risk, economic risk, legal risk, political risk, market risk, and project risk. Based on the results of the analysis, the highest risk is technology risk with the risk group in information technology protection, economic risk with the fall in demand risk group, political risk with the inflation risk group and project risk with an evaluation risk group, then risk management is carried out to reduce the risk level.

scholarly journals IMPROVING THE PERFORMANCE OF THE BALANCED SCORECARD THROUGH IMPLEMENTING ISO 31000 RISK ASSESSMENT AT SHOFA PHARMACY

2021 ◽  
pp. 23-36
Author(s):  
Riko Luke Nugroho ◽  
Perminas Pangeran
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Balanced Scorecard ◽  
Risk Group ◽  
Political Risk ◽  
Risk Level ◽  
Economic Risk ◽  
Project Risk ◽  
The Balanced Scorecard ◽  
Iso 31000

This study aims to integrate the Balanced Scorecard and Risk Management at Shofa Pharmacy and its one branch. The risk assessment is based on the ISO 31000 framework model and the Balanced Scorecard is based on a financial perspective, a customer perspective, an internal business perspective and a learning and growth perspective. The results of risk identification show that the risks, faced by Shofa Pharmacy, are financial risk, operational risk, technology risk, business ethics risk, health and safety risk, economic risk, legal risk, political risk, market risk, and project risk. Based on the results of the analysis, the highest risk is a technology risk with the risk group in information technology protection, economic risk with the fall in a demand risk group, political risk with an inflation risk group and project risk with an evaluation risk group, then risk management is carried out to reduce the risk level.

Organizational Culture in the Focus of Improving Risk Management in the Enterprise

2020 ◽  
Vol 17 (4) ◽  
pp. 86-95
Author(s):  
R. M. Kachalov ◽  
Yu. A. Sleptsova
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Point Of View ◽  
Economic Risk ◽  
Management Activity ◽  
Economic Agents ◽  
Cultural Aspects ◽  
Industrial Enterprises ◽  
Operational Theory ◽  
Stable Forms

The article considers the manifestations of the phenomenon of economic risk in the socioeconomic ecosystems of industrial enterprises, examines and differentiates the pragmatic and cultural aspects of the concept of "economic risk management". In terms of methodology, the study is based on the operational theory of risk management, and also uses tools to describe the organizational culture of risk management. Pragmatic and cultural differences in the characteristics of economic risk are identified at the level of stable forms of management activity with the involvement of the main provisions of the operational theory of risk management. The phenomenon of risk is considered in the ontological space as an artificial category of activity of industrial enterprises and other economic agents that form a socio-economic ecosystem. This phenomenon is studied as a specific form of social communication associated with the desire to assess the uncertain future in the present time, mainly from the point of view of analysis and management of the level of economic risk in the enterprise.

The prospects of occupational risk management during reforms of regulatory legislation basis

2019 ◽  
pp. 39-44 ◽  
Author(s):  
Vadim B. Alekseev ◽  
Nina V. Zaitseva ◽  
Pavel Z. Shur
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Social Insurance ◽  
Well Being ◽  
Occupational Risk ◽  
Risk Level ◽  
Federal Law ◽  
Work Safety ◽  
Risk Levels ◽  
Legal Principles

Despite wide legislation basis of regulating relations in work safety and workers’ health, one third of workplaces demonstrate exceeded allowable normal levels of workers’ exposure to occupational hazards and present occupational risk for health disorders.In accordance to national legislation acts, evaluation should cover factors of occupational environment and working process, and occupational risk is understood in context of mandatory social insurance. This approach has been formed due to mostly compensatory trend in legal principles of work safety in Russia by now. Implementation of new preventive concept of work safety, based on idea of risk management for workers, necessitates development of legal acts that regulate requirements to evaluation of occupational risk and its reports with consideration of changes in Federal Law on 30 March 1999 №52 FZ “On sanitary epidemiologic well-being of population”.Those acts can include Sanitary Rules and Regulations “Evaluation of occupational risk for workers’ health”, that will contain main principles of risk assessment, requirements to risk assessment, including its characteristics which can serve as a basis of categorizing the risk levels with acceptability.To standardize requirements for informing a worker on the occupational risk, the expediency is specification of sanitary rules “Notifying a worker on occupational risk”. These rules should contain requirements: to a source of data on occupational risk level at workplace, to informational content and to ways of notifying the worker. Specification and implementation of the stated documents enable to fulfil legal requirements completely on work safety — that will provide preservation and increase of efficiency in using work resources.

Human factor risk management procedures applied in the case of open pit mine

2021 ◽  
pp. 105456
Author(s):  
Snezana Kirin ◽  
Aleksandar Sedmak ◽  
Wei Li ◽  
Miodrag Brzaković ◽  
Igor Miljanović ◽  
...  
Keyword(s):  
Risk Management ◽  
Human Factor ◽  
Open Pit Mine ◽  
Open Pit ◽  
Management Procedures

A Student Perspective of Intramural Sport Risk Management Procedures

2005 ◽  
Vol 29 (1) ◽  
pp. 22-32 ◽  
Author(s):  
John Miller ◽  
Frank R. Veltri ◽  
Andy Gillentine
Keyword(s):  
Risk Management ◽  
Standard Of Care ◽  
Management Plan ◽  
Management Program ◽  
Risk Management Plan ◽  
Student Perspective ◽  
Intramural Sports ◽  
Emergency Procedures ◽  
Management Procedures ◽  
Intramural Sport

One of the best ways for an intramural sports program to ensure that an ordinary and reasonable standard of care is adhered to, as well as guarding against litigation, is communication of a risk management program. While having a risk management plan has been widely stressed, no previous research has been conducted from a participant's viewpoint. Thus, the purpose of this study was to determine the effectiveness of university intramural risk management plans from the participant's perception. The primary results of this study indicate that the majority of the intramural sport participants responded that they had never: a) noticed an intramural supervisor being present while the activity was taking place; b) been informed about the potential for participant injury; c) noticed signage relating to emergency procedures at the area of the activity; d) knew of a risk management plan for intramural sports; d) noticed emergency equipment at the site of the activity; and e) been informed about the possession of First Aid/CPR certification or equivalent by the supervisor.

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