Risk Management System Development at an Industrial Enterprise
Year: 2020
Type: preprint
Abstract: The study proposes the introduction of a mechanism for organizing a risk management system in an industrial enterprise using an economic and mathematical model based on the add-in for Microsoft Office Excel. The economic-mathematical model of risk management of the enterprise activity is offered, which allows on the computer not only to evaluate the efficiency of the enterprise portfolio on risk insurance but also to optimize its structure taking into account the efficiency of each risk insurance operation. A comprehensive risk management system is proposed, which, unlike the existing ones, is based on a systematic cybernetic approach using a computer and includes the steps of research on the occurrence of potential types of risks; estimation of the magnitude of activity risk; the choice of risk management strategy; formation and analysis of risk insurance system and anti-crisis measures; implementation of risky decision; evaluation of the results of the risk decision chosen and allows to increase the profitability of the enterprise.
Source: SSRN Electronic Journal
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3206964142