scholarly journals OPTIMIZATION OF THE RISK MANAGEMENT SYSTEM TO IMPROVE THE FINANCIAL STABILITY OF THE ENTERPRISE

2021 ◽  
Vol 81 (2) ◽  
pp. 103-109
Author(s):  
A. Nurtayeva ◽  
◽  
M. Kayirgaliyeva ◽  
A. Kabdeshova ◽  
D. Babash ◽  
...  
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Stability ◽  
National Income ◽  
Development Trend ◽  
Risk Identification ◽  
Main Task ◽  
Risk Management System ◽  
Innovation Model ◽  
National Economies

The article discusses the risk management system, its optimization to improve the financial stability of the enterprise. The main task in the company's risk management activities is to systematically reduce them to the most acceptable level possible. The purpose of risk management is to ensure the financial stability and dynamism of the company's development, i.e., to optimize the risk of deviations from the financial development trend. Major tasks of the present stage of building the innovation model of the market economy in the conditions of integration of national economies into the global trading and economic space pose problems for the effective management of financial stability of economic entities, since the primary care is the formation of the competitive potential, the gross national income, the process of implementation of scientifictechnical development in new products. The article describes the process of risk management as a systematic work on risk identification, risk assessment, selection of risk management techniques, implementation of selected techniques, and evaluation of the results obtained.

scholarly journals Risk management system in the enterprises of agrarian sphere

2019 ◽  
Vol 16 (5) ◽  
pp. 10-21
Author(s):  
V. G. Zakrzewski ◽  
O. G. Charykova ◽  
Yu. Yu. Golubyatnikova
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Economic Activity ◽  
Management System ◽  
Risk Identification ◽  
Assessment Development ◽  
Agrarian Sector ◽  
Risk Management System ◽  
Management Measures ◽  
Definition Of

The article deals with risk management systems at enterprises of the agrarian sector, which represents an organization of economic activity, the purpose of which is to minimize losses and find sources of income. The research organization of the risk management system in the enterprises of agrarian sphere great attention should be paid to the integration of their specific activities. The process of risk management in enterprises consists of the following phases: definition of objectives and parameters for solving the problem of risk; identification of external and internal risk factors; identification of risk factors, risk identification; risk analysis; risk assessment; development and implementation of risk management measures; synthesis of the results of measures taken and preparing proposals. In addition, the risk management system is submitted to us through the introduction of a passport of risk, to enable the formulation and adjustment of economic activity at any stage of its implementation. Under the risk passport of the economic risk refers to a collection of information about risk, risk criteria, as well as guidance on the application of the necessary methods to manage or mitigate the risks. As well as the information in the article was considered in the context of a risk management system. 

scholarly journals RISK MANAGEMENT IN CUSTOMS CONTROL

2021 ◽  
Author(s):  
Anastasiia Artomova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Point Of View ◽  
Main Task ◽  
Risk Management System ◽  
Management Processes ◽  
Risk Management Process ◽  
Structured System ◽  
Risk Zones ◽  
Systematic Identification

The article discusses the features of implementation a risk management system in the framework of customs control. The relevance of the problems under consideration is due to the fact that the activities of customs authorities in practice, like no other area, are directly related to various risk zones. The main task of the customs authorities is very closely intertwined with the goals of risk management. This is a systematic identification and, most importantly, prevention and leveling of risks and threats arising in various fields of activity at any stage of crossing the customs border. Customs activity in the risk management system is not only a process of identifying risks, but also a way of thinking, without which the customs authorities may not react to various situations and provide for the necessary initiatives, and this process is usually called “risk analysis”. Of particular interest in this vein is the construction of a structured system by the risk management process. This is due to the need for a clear passage of all stages of customs control of goods when crossing the customs border while meeting all standards. The unification of such a process is necessary. Clarifies the concept of risk management in relation to the customs control system from an operational and practical point of view. The article considers such elements of the risk management system as: statistics, implementation of the risk management system in various countries, the advantages of customs risk management, the process of risk management in customs control. Particular attention is paid to the benefits of customs risk management. The elements of the risk management system are highlighted; the effectiveness of risk management in customs control is assessed. Analyzed the problems of the risk management system in customs control. Particular attention is paid to the advantages of customs risk management, which are classified according to the following criteria: achievement of the organization’s goals; improved management processes; improved public and business profile. Proposals for improving the risk management system in customs control are presented.

scholarly journals THE RISK MANAGEMENT SYSTEM AS THE BASIS OF THE FINANCIAL STABILITY OF THE ENTERPRISE (ON THE EXAMPLE OF AGRICULTURAL ENTERPRISE OF THE REPUBLIC OF TATARSTAN)

2017 ◽  
Vol 12 (2) ◽  
pp. 93-97 ◽  
Author(s):  
Гульнара Валиева ◽  
Gulnara Valieva ◽  
Ленар Хазеев ◽  
Lenar Khazeev
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Stability ◽  
Quantitative Methods ◽  
Swot Analysis ◽  
Industrial Complex ◽  
Active Monitoring ◽  
Risk Management System ◽  
Agricultural Enterprise ◽  
The Republic

The process of assessing the financial stability of an agricultural enterprise and the possible introduction of elements of a risk management system is illustrated by the example of the agricultural organization JSC “Alabuga Sote” (the Republic of Tatarstan). In order to consider the financial stability of the enterprise, the following indicators were calculated: absolute liquidity ratio, current liquidity ratio, profitability on equity and profitability of sales. Based on these calculations, the company’s financial stability was assessed and possible measures were proposed to improve it. In addition to quantitative methods for assessing financial sustainability (calculations), there are also qualitative methods that are aimed at previously forecasting company risks such as SWOT analysis, PEST analysis, active monitoring of threat, threat matrix generation, Michael Porter model, mathematical modeling, construction of scenarios, the involvement of expert opinion and so on. The development and implementation of a risk management system is one of the most important directions for the development of the enterprise (including the agro-industrial complex). This mechanism is able to provide both financial stability and investment attractiveness of the organization.

Maintaining Financial Stability in the Banking Sector

2019 ◽  
pp. 30-48
Author(s):  
Meltem Gurunlu
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Stability ◽  
Banking Sector ◽  
Banking System ◽  
Capital Adequacy ◽  
Basel Accords ◽  
Risk Management System ◽  
Strategic Approach ◽  
Global World

Maintaining financial stability in the banking sector through a well-functioning risk management system is a strategic approach in today's global world where the risks have become much more diversified than ever. This chapter was undertaken in order to investigate the risk management topic by focusing on the experiences learned from the banking crises up-to-date and implications of the Basel Accords which outlined capital adequacy standards to prevent such crises. With paying special attention to the case of Turkish banking system, main challenges and possible solutions are also discussed.

scholarly journals Preventive risk management in the enterprise

2021 ◽  
pp. 22-25
Author(s):  
Oksana ZAKHARCHUK ◽  
Oksana KOVALYK ◽  
Kseniia KOVTUNENKO
Keyword(s):  
Risk Management ◽  
Management System ◽  
Point Of View ◽  
Integrated System ◽  
Main Task ◽  
Management Culture ◽  
Risk Management System ◽  
Risk Management Process ◽  
Preventive Method ◽  
The Impact

In modern conditions, when changes in the external environment occur quite often, the probability of risks increases, there is a need to study and develop a risk management system for each enterprise separately, depending on its specifics. The article considers the main definitions of risk, its impact on the company's activities. The main types of risks that arise in any direction of business activity are considered. The impact of these risks on the company's activities is determined. It is determined that each risk can be considered as a negative financial result of activity or the probability of loss of profit, as well as a positive result of activity in the form of additional unplanned profit. The article considers risk management at the enterprise as an integrated system. Each stage of the risk management process is considered as a separate element and as one component of the whole process. There are three approaches to risk management: adaptive, integrated, and preventive. One of the methods of risk management the article considers the preventive method, the mechanism of its implementation. Preventive management is considered from the point of view of a scientific approach as a process of developing and implementing coordinated preventive actions aimed at preventing and minimizing losses from the impact of possible risks on the enterprise. The main task of preventive management is defined, which is to identify and eliminate possible causes of risk. The use of the preventive method and its impact on the interrelation of each activity process are prescribed. It also describes the need to introduce preventive analysis and assess the impact of internal and external factors on business activities. It is determined that the active application of the risk management system using the preventive method, provided that it quickly responds to changes that occur during the company's activities, forms a risk prevention system that allows you to work continuously and covers all areas of activity of all structural divisions of the enterprise, changing the general principles and generally accepted management culture.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (1) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

IMPROVING THE RISK MANAGEMENT SYSTEM IN THE ACTIVITIES OF OPERATORS INVESTMENT PLATFORMS

2021 ◽  
Vol 1 (8) ◽  
pp. 115-120
Author(s):  
V. V. ZEMSKOV ◽  
◽  
E. A. TIMOFEEV ◽  
Keyword(s):  
Risk Management ◽  
Statistical Methods ◽  
Management System ◽  
Financial Stability ◽  
Financial Risks ◽  
General Management ◽  
Risk Management System

The purpose of the work is to analyze and develop a risk management system in the activities of investment platform operators to improve the financial stability of contracts. The assessment of financial risks of persons attracting investments of the operator of the investment platform is based on the methods of analogies, financial coefficients, expert and statistical methods. According to the authors, it is necessary to form a risk management system integrated into the general management system to protect the interests of both users of the investment platform and their own. The results can be applied in the formation of a risk management system for investment platform operators.

scholarly journals INTERDEPENDENCE OF RISK MANAGEMENT SYSTEM AND FINANCIAL STABILITY AT AGRICULTURE ENTERPRISE

2018 ◽  
Vol 12 (4) ◽  
pp. 132-135
Author(s):  
Ленар Хазеев ◽  
Lenar Khazeev
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Stability ◽  
Industrial Complex ◽  
General Management ◽  
Industrial Enterprises ◽  
Risk Management System ◽  
The Republic

The article considers the system of risk management at the enterprise, its interrelation, as well as the need for its development and introduction into the general management system of the organization (including at the agro-industrial enterprises). A practical example of an estimation of financial stability of agrarian and industrial complex enterprises of the Republic of Tatarstan JSC “Alabuga Sote” is given and possible methods of risk management are offered.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (01) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

scholarly journals FORMATION OF AN EFFECTIVE RISK MANAGEMENT SYSTEM AT THE ENTERPRISE

2021 ◽  
Vol 1 (36) ◽  
pp. 320-329
Author(s):  
E. Tereshchenko ◽  
O. Shkolenko ◽  
I. Kosmidailo ◽  
I. Kalina ◽  
N. Shulіar
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Stability ◽  
Business Processes ◽  
Transition Period ◽  
Air Traffic ◽  
Aviation Industry ◽  
Risk Management System ◽  
Risk Management Process ◽  
Regional Factors

The purpose of the article is developing a risk management system in the aviation industry. After analyzing the works of many scientists, such concepts as «risk», «risk management» were considered and their importance in business was highlighted. This article provides a coefficient analysis of the financial condition of one of the largest airlines in Ukraine PJSC «International Airlines of Ukraine». The authors pay special attention to external and internal factors, which are the main result of losses from the decline in air traffic, to regional factors that shape the demand for air traffic within a particular area and directly affect the efficiency of the airline. Therefore, the authors present regional factors that affect the results of economic activity and financial stability of the airline. As a result of the study, we observe that one of the preventive methods of risk identification is targeted management, which in essence is a way to achieve effective business structure in the future. The development of a risk management system should be an integral part of its targeted management. The authors have developed a risk management system for this company, which has a clear structured approach that combines strategy, business processes, staff, technology, experience and knowledge. This system is the basis of the corporate governance system, which requires a long transition period, as well as a significant increase in the professional level of staff. At the risk assessment stage, the authors propose to consider sources of information to compile a risk map. In addition, the authors believe that it is necessary to carry out general monitoring of processes occurring in various departments of the airline in order to identify new, unspecified risks, as well as new business processes that may involve risks. A new risk management process is proposed for this control. Creating an effective risk management system allows to ensure a high level of quality and rationality of management decisions, which enables the company to achieve strategic and tactical goals.

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