Managing the Risk Factor in the Strategic Decisions-Making Process at the Enterprise
Journal Title: Бізнес Інформ - Year 2016, Vol 3, Issue
Abstract
The aim of the article is to define the essence of the risk management process in the context of formation and implementation of the enterprise strategy and develop an algorithm for strategic decisions-making considering the risk factor. The article reveals the essence of the concept of "risk" in the context of elaborating the enterprise development strategy. As a result of the research a definition of strategic risk has been formulated and the process of its identification has been described. On the basis of current trends in risk management and critical analysis of the Standard of Federation of the European Association of Risk Managers (FERMA), there has been proposed a detailed, phased algorithm for enterprise strategic decision-making considering the risk factor, which allows establishing the interrelation between the processes of risk management and elaborating the enterprise development strategy. The obtained results are intended to be used in the perspective of further scientific research to develop a methodical approach to risk management in the context of strategic decision-making at enterprises of machine-building industry of Ukraine.
Authors and Affiliations
Serhii Kapustnyk
Keywords
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