IDENTIFICATION OF KEY RISKS IN MALT ENTERPRISE ACTIVITY: RISK SOURCES, RISK EVENTS, CONTROL MEASURES

Olena HERASYMENKO

Abstract


Introduction. Given the difficult economic and geopolitical situation in the country, there is an urgent need to manage risks in order to ensure a stable economic security of the business entity. The risk-oriented approach to management in the process of ensuring economic security makes it possible to maintain a stable financial and economic condition of the enterprise in the conditions of uncertain environment.

Purpose. The purpose of the article is research into identifying risks in a malting enterprise, identifying strategic priorities for risk management for the brewer, and investigating the functioning of the HACCP system in the enterprise.

Results. In the process of risk research at the enterprise responsible persons were identified, assets valuable to the company were identified. A number of different types of risks, which cause the seasonality of realization of the main product of the company, are also identified. The unstable source of market, political, tax and financial risks for the analyzed period remains the instability of the geopolitical and economic situation in the country. It is revealed that the main risk component of the enterprise activity is the weak raw material base of Ukraine, as well as seasonal fluctuations in the cost of energy resources. In recent years, the main danger has been the increase in the cost of energy, the rise in prices of raw materials. Also, due to the seasonality of raw material purchases, there is a need to attract significant amounts of borrowing. The overall responsibility for creating and overseeing the risk management structure rests with the CEO. The enterprise has a risk management policy, which aims at identifying and analyzing risks, setting risk limits and controls, and monitoring risks.

Originality. Risk identification is the first and most important step in the risk management chain. An example of a typical brewery enterprise identifies and analyzes assets that are the enterprise's core value and at the same time may carry a number of latent risks. The use of the HACCP method for risk identification, impact assessment and risk assessment of a typical malt establishment, which is a legal requirement for food businesses, is illustrated. On the basis of analysis and identification, a list of risks specific to the malt production enterprise has been formed.

Conclusion. Risk identification in a modern enterprise is a very important step in the process of successful risk management. In order to ensure the sustainability of the economic development of the enterprise, it is necessary to implement a risk-oriented approach to management. This will enable timely identification of dangers, risks, threats, uncertainties - all that can be the reason for the violation of economic stability and prosperity of doing business. In today's difficult conditions of geopolitical and economic situation in the country, the priority of both big and small business should be maintaining the existing level of economic sustainability and ensuring it for the future.


Keywords


identification of sources of risk, risk management, risk-oriented approach, risk events, critical control point.

References


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