For assessing the efficiency of risk management at trading enterprises

Abstract

The study is devoted to proving the feasibility of using a universal method to evaluate the effectiveness of risk management and eliminate the variety of evaluation criteria using a variety of risk assessment methods proposed in scientific sources. The purpose of the study is to specify the application of existing risk assessment methods in the risk management system and the analytical presentation of the optimal methodology by the example of the object of study. Particular importance is given to the selection of an effective methodology in the context of sanctions and geopolitical instability. In the course of the study, the methods of correlation and regression analysis, Swot analysis, the Fishburn method were used for all risk factors. The authors also applied the method for determining the integral level of risk with account of the use of resources; calculation of the Fechner correlation coefficient in the process of risk management; conducting PEST analysis to assess the impact of environmental factors on activities. Scientific novelty consists in proving the need to clarify the methodology for assessing the effectiveness of risk management in enterprises, taking into account a large set of risks in modern business realities. The result of the study was the recommendation to use Pest-analysis as a universal method for assessing the effectiveness and quality of risk management.

Keywords

• risk management
• risk management
• pest analysis
• swot analysis
• fechner coefficient
• financial condition of the organization