Corporate Security as Subject to Management: Cause-and-Effect Relations in Arising and Development

Abstract

The notion of corporate security came into being in the late 19th century, however the use and spread of the term in business-environment took place only in the second half of the 20th century. This notion was introduced into circulation to name a system of measures and practices aimed at protection of corporate interests and resources from internal and external threats. Corporate security of the company is a complicated set of measures and procedures for managing risks and at the same time a subject to management with a brand new content, whose topicality is sharpening due to risks of sustainable development. Business partners, company clients and other concerned persons often transfer their communication to the e-environment, where unpredictable changes take place and new risks arise. It can result in transformation of certain types of risks, such as finance, investment, reputational, regulatory, etc. Continuous study of risk transformation, importance of their impact on business and economy, sustainable development of companies shall be introduced as a mandatory function within the frames of sub-system of company corporate security. The authors showed that for timely appraisal of new risk and external factor impact on sustainable development of companies and their business it is necessary to restructure the system of in-company control with regard to corporate security as an element of the system of corporate management.

Keywords

• business-processes
• esg-risks
• internal and external threats
• institutional environment of business
• corporate management
• risk management
• sustainable development of the organization (company)