RISK MANAGEMENT SYSTEM OF THE ENTERPRISE UNDER MARKET CONDITIONS OF ECONOMY
Main Article Content
Abstract
Introduction. Unfortunately, the modern world cannot be imagined without risks. They arise in everyday life, work and business. Every company has had to deal with risks at least once, but not everyone can handle them. First the coronavirus, then the war showed that Ukrainian businessmen do not know what to do in risky situations. Most of the companies have closed. In order to avoid the decline of the enterprise, it is necessary to use modern and innovative ways of combating risks, to be guided by international standards and to implement the principles of risk management.
The purpose of the article is to study the science of riskology and risk management, a comprehensive review of various types of risks and the analysis of modern problems and challenges related to risk management at enterprises in global market conditions.
Methods. During the writing of the article, the methods of analysis, assessment of the concept of risk management were used, and scientific sources, which have the necessary and comprehensive information, were researched.
Results. The results of the conducted research showed the evolution of the concept of risk management, the characteristics of the risk management system, its key aspects and the principles that the enterprise must adhere to in order to function effectively.
Originality. The main scientific novelty of this work lies in highlighting the development of concepts, methods and principles that will help the business entity in risky situations. Also new is the introduction of innovative methodologies and analytical tools, such as machine learning algorithms and artificial neural networks, for forecasting, detection and strategic risk management.
Conclusions. The practical significance of this article is that businesses can use the following tips and methods to minimize and avoid risks in today's market conditions. The importance of integrating digital innovations for improving risk management strategies and increasing the competitiveness of enterprises is emphasized. Also, by implementing the described methods, business entities will be able to effectively identify, assess and deal with risks in their daily work. In addition, other students or researchers may use this article in their risk management system research.
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