IDENTIFICATION OF KEY RISKS IN MALT ENTERPRISE ACTIVITY: RISK SOURCES, RISK EVENTS, CONTROL MEASURES
Main Article Content
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.
Article Details
The authors published in this journal agree with following conditions:
1. The authors reserve to themselves the right to the authorship of their works and transfer the right of their first publication to the journal on the terms of Creatіve Common Attrіbutіon Lіcense which allows to freely extend to other persons the published work with an obligatory reference to the authors of the original work and its first publication in this journal.
2. The authors have the right to complete independent additional agreements concerning the not exclusive distribution of their work in the form in which it was published in this journal (for example, to place the work in the electronic storehouse of an establishment or to publish as a monograph component), under the condition of the preservation of the reference to the first publication of the work in this journal.
3. The journal’s policy allows and encourage the authors to place their manuscripts into the Internet (for example, in depositories of establishments or on personal web-sites) either before submitting of the manuscript for publication or during its editorial processing as it assists the occurrence of a productive scientific discussion and positively affects the efficiency and dynamics of citing of the published work.
AGREEMENT
ABOUT TRANSMISSION OF COPYRIGHT
I, the author of the article / We, the authors of the manuscript _______________________________________________________________________
in case of its acceptance for publication, we transfer the following rights to the founders and editorial boards of the scientific publication "BULLETIN OF THE CHERKASY BOHDAN KHMELNYTSKY NATIONAL UNIVERSITY. ECONOMIC SCIENCES. SERIES "ECONOMIC SCIENCES":
1. Publication of this article in Ukrainian (English, Russian, Polish) and distribution of its printed version.
2. Dissemination of the electronic version of the article through any electronic means (placing on the official journal web site, in electronic databases, repositories, etc.).
At the same time we reserve the right without consent of the editorial board and the founders:
1. Use the materials of the article in whole or in part for educational purposes.
2. To use the materials of the article in whole or in part for writing your own theses.
3. Use article materials to prepare abstracts, conference reports, and oral presentations.
4. Post electronic copies of the article (including the final electronic version downloaded from the journal's official website) to:
a. personal web-pecypcax of all authors (web sites, web pages, blogs, etc.);
b. web-pecypcax of the institutions where the authors work (including electronic institutional repositories);
with. non-profit, open-source web-pecypcax (such as arXiv.org).
With this agreement, we also certify that the submitted manuscript meets the following criteria:
1. Does not contain calls for violence, incitement of racial or ethnic enmity, which are disturbing, threatening, shameful, libelous, cruel, indecent, vulgar, etc.
2. Does not infringe the copyrights and intellectual property rights of others or organizations; contains all the references to the cited authors and / or publications envisaged by applicable copyright law, as well as the results and facts used in the article by other authors or organizations.
3. It has not been previously published in other publishers and has not been published in other publications.
4. Does not include materials that are not subject to publication in the open press, in accordance with applicable law.
____________________ ___________________
First name, Last name, signature of the author
"___" __________ 20__
References
Andriichenko Zh. O. (2017). Statistical substantiation of necessity of introduction of risk-oriented approach in the field of financial monitoring in Ukraine. Problemy i perspektyvy rozvytku pidpryiemnytstva: Zbirnyk naukovykh prats KhNADU, 2 (17), 49–55 [in Ukr.].
Voronko R. (2018). Risk management and the concept of risk-oriented internal control. Instytut bukhhalterskoho obliku, kontrol ta analiz v umovakh hlobalizatsii. Mizhnarodnyi naukovyi zhurnal, 3-4 [in Ukr.].
Herasymenko O. M., Zachosova N.V. (2019). Assessment of the maturity level of risk management in the process of ensuring the economic security of the enterprise: an analytical study. Visnyk Kyivskoho natsionalnoho universytetu tekhnolohii ta dyzainu. Seriia Ekonomichni nauky, 3 (135). 66–81 [in Ukr.].
Danilova E.I. (2018). Methodology of risk-oriented approach to managing the economic security of the enterprise. Elektronne naukove fakhove vydannia z ekonomichnykh nauk «Modern Economics», 12. 61-68. Retrieved from: https://modecon.mnau.edu.ua (Accessed: 12.10.2018).
Vasyl'ieva, T. A, Lieonov, S. V., Kryvych, Ya. M. (2015). Economic risk: assessment and management methods, DVNZ “UABS NBU”, Sumy [in Ukr.].
Yehorycheva S.B. (2016) Risk-oriented supervision in the financial monitoring system. Naukovyi visnyk Poltavskoho universytetu ekonomiky i torhivli, 3(75), 126-132 [in Ukr.].
Report on conducting a national risk assessment in the field of prevention and counteraction to the legalization (laundering) of proceeds of crime and the financing of terrorism. Retrieved from: http://www.sdfm.gov.ua/content/file/Site_docs/2016/20161125/zvit_ukr.pdf (Accessed: 12.10.2018).
Ljashenko, O. M. (2015). Konceptualizacija upravlinnja ekonomichnoju bezpekoju pidpryjemstva [Conceptualization of management of economic safety of the enterprise] (2nd ed.), Kyiv: NISD [in Ukr.].
Saveleva T.V., Panasko O.M., Pryhodiuk O.M. (2018). Analysis of methods and tools for implementation of risk-oriented approach in the context of ensuring information security of the enterprise. Visnyk Cherkaskoho derzhavnoho tekhnolohichnoho universytetu. Seriia: Tekhnichni nauk, 1, 81–89 [in Ukr.].
Tkachuk H.O. (2015). Identification of economic risks in the accounting and analytical system of the enterprise. Ekonomika kharchovoi promyslovosti, 7 (4), 80–88 [in Ukr.].
Fedulova I. (2017). Identification of economic risks. Visnyk KNTEU, 4, 89–103 [in Ukr.].
Shelko V.Yu. Basic aspects of the concept of risk-oriented accounting system. III Mizhnarodna naukovo-praktychna konferentsiia «Udoskonalennia obliku, kontroliu, audytu, analizu ta opodatkuvannia v suchasnykh umovakh intehratsiinykh protsesiv u svitovii ekonomitsi», Retrieved from: https://dspace.uzhnu.edu.ua/jspui/bitstream/lib/19073/1/%D0%A8%D0%B5%D0%BB%D1%8C%D0%BA%D0%BE%20%D0%92.%D0%AE..PDF (Accessed: 12.10.2018).