STRUCTURED DESCRIPTION OF THE FINANCIAL RISK MANAGEMENT OF THE MILITARY BASE BY A SWOT ANALYSIS
Journal Title: Міжнародний науковий журнал "Інтернаука". Серія: "Економічні науки" - Year 2018, Vol 1, Issue 3
Abstract
The system of the Ministry of Defense of Ukraine and the Armed Forces of Ukraine introduces an internal control system, the element of which is the establishment of a risk management system at all levels of military management. The established system of risk management provides an opportunity to warn and respond in a timely manner to the threats occurring in the course of any activity. From this process depends on the success of the planned tasks and achievement of the set goals. The article presents the theoretical approach to the definition of the weak and strong points of the organization of the financial risk management system of the military unit (institution, organization) of its capabilities and threats. It is the definition of internal and external factors that influence the process of risk management is one of the most important issues in the organization of internal control. A structured description of the financial risk management subsystem with the help of SWOT analysis as a source data for the adoption of effective management decisions in the overall system of risk management of the military unit (institution, organization) was conducted; A number of strategies have been developed to improve the financial risk management subsystem in the overall risk management system. Financial risks are dealt with in the article as the risks arising in the course of financial transactions, cash and cashless settlements, documentary registration of the financial side of business transactions and other operations the instrument serves as finances. The article explores the possibility of applying SWOT-analysis to the process of managing financial risks, and not to the organization as a whole. The sequence of the conducted research allows evaluating the use of this method of analysis in a phased manner: the definition of factors, their structuring, and the study of the interaction of factors among themselves. It is the study of the interaction of factors among themselves that makes it possible, with the help of the strengths of the organization of the risk management process and the capabilities of the forces and means of this subsystem, to make the most efficient use of the strengths to get rid of the weak and to prevent possible threats.
Authors and Affiliations
Anatolii Loishyn
Keywords
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- EP ID EP581126
- DOI 10.25313/2520-2294-2018-3-3606
- Views 87
- Downloads 0
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