Features of Formation of Risk-Management System in Enterprises

At present, one of the most important aspects of the success of enterprises is the professional management of risks due to the formation of a risk management system. Risk management determines the ways and means of ensuring the stability of the enterprise, its ability to withstand adverse situations. The need to start developing and implementing risk management practices is mainly due to the fact that currently there are no real mechanisms for their financial support in crisis situations. On the other hand, risk management is a rather complex activity that requires significant costs of material and human resources. The lack of a common understanding of risk management leads to an unclear interpretation of the concept of "risk" itself and the diversity of its manifestations and the factors affecting its value, nature and content. It should be noted that many authors understand the process of risk management aimed at reducing the degree of risk. The main goal of risk management is to determine ways to reduce it, given that time and resources are limited. Purposeful actions to limit and minimize risk in the system of economic relations are called risk management.

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Publication Details

Journal
JOURNAL OF ECONOMICS
Published
2025-06-24
DOI
https://doi.org/10.36719/3104-4727/3/22-24
Primary Topic
Economic and Technological Developments in Russia
Type
article
Field-Weighted Citation Impact
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article

Features of Formation of Risk-Management System in Enterprises

Oktay Mammadli
JOURNAL OF ECONOMICS
Economic and Technological Developments in Russia
article

Features of Formation of Risk-Management System in Enterprises

Oktay Mammadli
article en

Abstract

At present, one of the most important aspects of the success of enterprises is the professional management of risks due to the formation of a risk management system. Risk management determines the ways and means of ensuring the stability of the enterprise, its ability to withstand adverse situations. The need to start developing and implementing risk management practices is mainly due to the fact that currently there are no real mechanisms for their financial support in crisis situations. On the other hand, risk management is a rather complex activity that requires significant costs of material and human resources. The lack of a common understanding of risk management leads to an unclear interpretation of the concept of "risk" itself and the diversity of its manifestations and the factors affecting its value, nature and content. It should be noted that many authors understand the process of risk management aimed at reducing the degree of risk. The main goal of risk management is to determine ways to reduce it, given that time and resources are limited. Purposeful actions to limit and minimize risk in the system of economic relations are called risk management.

JOURNAL OF ECONOMICSVol. 2(2)
Openalex Percentile: Top 55%
Economic and Technological Developments in Russia
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Features of Formation of Risk-Management System in Enterprises — Oktay Mammadli · JOURNAL OF ECONOMICS (2025) | TGRS Research Map | TGRS