Author(s): Eyvazov I.E.

Rubric: Management

DOI: 10.21777/2587-554X-2020-3-81-87

Release: 2020-3 (34)

Pages: 81-87

Keywords: risk analysis, risk minimization, business process analysis, risk assessment, riskology, risk management, SWOT analysis

Annotation: Enterprise risk management is one of the most urgent tasks on which successful functioning of a business entity depends. It is worth paying special attention to the use of various methods and techniques of risk assessment in order to prevent adverse events. It is important for any enterprise to evaluate and analyze risks before they appear. The article will analyze the after-effect of actions during the analysis and risk assessment. The nature of risk and the degree of its impact on business processes is independent of the will of the person and is not always regulated by him, but there is a possibility to choose the most effective methods and techniques to optimize management decisions, as well as to minimize the risks of business processes. The economic entity must make the right decisions to create the necessary control environment, as well as informing the staff and implementing procedures to minimize risk. These factors are key to improve the internal control system and minimize the risk of business processes. The article discusses the possibility of using non-standard methods for business process risk analysis, such as SWOT analysis, and identifies the strengths and weaknesses of this method in risk management.

Bibliography: Eyvazov I.E. METHODS OF ANALYSIS AND RISK ASSESSMENT OF SMALL AND MEDIUM ENTERPRISES // Economics and Management. – 2020. – № 3 (34). – С. 81-87. doi: 10.21777/2587-554X-2020-3-81-87

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