The organizational and economic mechanism of risk management in enterprises under digitalization

The article examines the current challenges and risks faced by Ukrainian enterprises in the context of digitalization and external environmental uncertainty. The article aims to substantiate the organizational and economic mechanism for managing enterprise risks in the conditions of digitalization. This study highlights risks related to cybersecurity, technological changes, the impact of military actions, market competition, and more. The research justifies the need to create an effective risk management mechanism to ensure enterprises’ sustainable development and adaptation to the challenges of the modern economy and digitalization. An analysis of contemporary approaches to defining the concepts of “risk” and “risk management,” presented in domestic and foreign sources, has revealed the key elements of risk management mechanisms. It was found that the concept of “risk” is characterized by critical aspects such as probability, negative consequences in the form of losses, potential positive outcomes, and benefits. In contrast, risk management should be viewed as preventing unforeseen events in the company’s operations, ensuring continuous control, and mitigating consequences when they occur. It is substantiated that the risk management process is continuous and systematic and includes monitoring and assessing risks at all levels of enterprise activity. The study presents an organizational and economic mechanism for risk management in enterprises under digitalization conditions, which, unlike existing models, considers the digitalization of economic processes in the enterprise, covers critical components such as personnel, legal, informational and digital, analytical, organizational, financial, and investment support, and is multi-component, systematic, and governed by its principles. The mechanism’s practical value lies in the effective interaction of its elements, which allows enterprises to identify and minimize risks promptly, maintain stability, and promote sustainable development. The research revealed the importance of integrating digital tools into the risk management process, which enhances decision-making efficiency and minimizes negative consequences. Keywords: risk, risk management, organizational and economic mechanism of risk management, risk management, digitalization of the economy, cyber risks.