Doctor of Economics, Professor of the Management Department of Kyiv National University of Trade and Economics
IDENTIFICATION OF ECONOMIC RISKS
Background. When the system of risk management is formed at the enterprise there are questions as how to define and identify risk events, assess the probability of their occurrence and calculate the consequences of their implementation.
Analysis of recent research and publications showed that the risk identification stage is represented in any process of risk management. Risk identification is the process of spotting, studying and description of risks. This process involves identifying the sources of risk, the study of events, their causes and possible consequences. Thereby some classification of risks is created and the enterprise will work with them hereafter (analyze, evaluate and manage).
The aim of the article is to develop methodical statements of risk identification as important part of the formation of risk management system at the enterprise.
Materials and methods. The methods of analysis and synthesis of scientific information were used for the study.
Results. The system, object, characteristics of classification and classification groups are usually determined in order to form the classification. In practice, three classification methods are used: hierarchical, faceted and descriptor. The choice of method depends on the purpose of classification and characteristics of the subject area. It is proposed to use all three approaches to risk classification; each of them has its own purpose and meaning. So, at the first stage the faceted classification is formed to describe the subject area of risk situation and to define the risk characteristics. One can use product value chain classification to form the hierarchical risk classification for describing the system of risks of internal enterprise environment. Its content is the study of situations of occurrence and description of the risks of this type. At the third stage the descriptor classification is formed in order to create a database of risky situations.
Conclusion. Procedure for risk identification was proposed; using it the analyst must get answers to questions concerning the formed goals for each element of the value chain, it allows identifying risk as causes or consequences of adverse events that have led or will lead to deviations from these goals. Also the action sequence that is framed and structured in stages, which together determine the process of risk identification at the enterprise was proposed.
Keywords: risk, risk management, risk identification, risk classification.
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