Year: 2024
Type: article
Abstract: The role of risk consideration in enterprise management continues to grow over time. Rapid development of new technologies, obsolescence of existing ones, commoditization, globalization, digitalization, and the rise of the new electronic and information economy, characterized by internal imbalance, rapid transformations, and high external turbulence, not only broaden the range of risks but also qualitatively transform them, necessitating dedicated studies. The aim of the article is to improve the classification of risks of risks related to sustainable enterprise development. Research methods: generalization, systematization. The article refines the classification of sustainable development risks for enterprises, expanding the classification features and adding new types: “Emerging Risks” and “Unexpected Risks”, in addition to “Entrepreneurial Risks”. The risks associated with sustainable enterprise development are detailed by type. Specifically, “Emerging Risks” include relocation risks, risks of military actions, infrastructure risks, Industry 4.0 risks, customization, commoditization, and others. “Unexpected Risks” include force majeure, terrorism, "black swan" events, and others. Entrepreneurial risks encompass reputational, interface, partnership risks, and others. This classification approach, unlike others, emphasizes modern external challenges and globalization threats. The author’s proposals can be applied in the practical activities of enterprises and form the basis of a methodological approach to risk management within a risk-oriented framework. This approach includes identifying and assessing risks and implementing corresponding measures to minimize (or eliminate) them depending on the risk level.
Source: Трансформаційна економіка
Author: О.А. Ковтун
Institution: Hryhorii Skovoroda University in Pereiaslav
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4405540328