About the Place and Role of Risk Management in the Adoption of Management Decisions at the Enterprise

Abstract

Objective of work: Present the nature and characteristics of approaches to the place and role of risk management in the design and implementation of enterprise management decisions, as well as the effectiveness of this approach. The degree of scientific elaboration of the problem. Theoretical, methodological and methodological issues of risk management are reflected in the writings of many specialists, including: V. A. Akimova, A. G. Badalova, K. V. Baldin, T, Barton, S. W. Valditsev, M. B. Gracheva, G. B. Kleiner, N. Taleb, M. G. Laposta, F. H. Nayta, V. L. Tambovtsev, T. Flynn, B. Hedges, D. Hubbard and others. Research Methodology: methods such as system approach, logical analysis, and synthesis, abstraction, sociological survey, method of expert assessments were applied. Results of the research. Fragmented and inclusive approaches have been identified. It was noted that in a fragmented approach, risk management was seen as a complementary, discrete process. Due to a number of drawbacks, the use of a fragmented approach can lead to significant losses for enterprises. Within the framework of an inclusive approach, risk management is the main process, along with others, of developing and implementing management decisions. In doing so, risk managers are involved as deeply in decision-making as possible, starting with the first stage of decision-making. Conclusion: Identified approaches differ in the place and role of risk management in the design and implementation of enterprise management decisions. A fragmented approach is traditional for many businesses, requiring less attention from top management and implementation costs. At the same time, it is less effective. An inclusive approach is more costly, but significantly improves the quality and effectiveness of management decisions.