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METHODOLOGICAL BASES OF RISKS ASSESSMENT IN THE CONTEXT OF ENSURIN G FINANCIAL AND ECONOMIC SAFETY

Journal: Academic Bulletin "Economics and Region" (Vol.1, No. 50)

Publication Date:

Authors : ; ;

Page : 80-89

Keywords : financial and economic security; threat; business risks; business risks assessment.;

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Abstract

The purpose of the article is to determine the methodological foundations for assessment of business risks. The object, subject, and guidelines are defined. The concepts of "risk" and "danger" and the necessity of separating these categories are considered. Features of the risks classification for the enterprise to facilitate their efficient evaluation are established. Based on scientific approaches to the synthesis of definitions and risks classifications, their types and measures to control them have been identified. Comparison of methods for business risks evaluation has been carried out. The risks management process is illustrated. It has three main objectives: prevention of hazards; minimizing the damage caused by risks; maximizing additional revenue that the company receives as a result of the risks management. The risks assessment algorithm, which generally determines the efficiency of their management is established. The system of indicators to measure the level of risks which is based on the probability theory, defines different in content and form risks indicators, allowing all possible scenarios.

Last modified: 2016-07-19 17:32:24