Transformation of the organization`s risk management system in the conditions of increasing uncertainty of the operating environment
Abstract. This article examines current problems of the risk management in the Russian and foreign companies. The purpose of the study is to identify problematic areas of companies in the field of risk management. The relevance of the study is due to the need to manage risks in order to achieve the company`s goals. Various types of risks have become an integral part of the economic activities of companies, as due to the influence of uncertainty, the actual results often do not correspond to the planned ones. The results of the study include recommendations aimed at adapting the risk management system to new realities. The conducted research will help managers to adapt the risk management system to unforeseen business events, identify problem areas and use new opportunities created by the pandemic and sanctions.
Keywords: risk management system, "black swan", risk culture, COVID-19 pandemic, sanctions, crisis anti-risk management
Highlights:
♦ the main obstacles to the implementation of risk management in organizations are: the perception of risk management as a distracting process, a low level of the risk management culture, lack of responsibility, disparate IT systems, lack of competence in risk assessment and management`s lack of involvement in the risk management;
♦ a new concept of risk management is being developed - "Risk Management 2.0", which states that the risk management system is not a goal, but a means to achieve the goal. Risk management is not a separate department, but a cross-cutting process covering the entire company and aimed at making optimal management decisions taking into account risks;
♦ reactive crisis management is gradually being replaced by a proactive risk management system. Investments in the risk management system are increasing. The pandemic and the political situation have accelerated the development of risk management as a science and opened new horizons for business.
Albina D. Khairullina, Yulia F. Volkova - Institute of Management, Economics and Finance of Kazan (Volga Region) Federal University, Kazan, Russia