Abstract

Тask statement. The aim of the article is to investigate risk management peculiarities and determine their impact on the competitiveness of an enterprise. Research results. The article analyzes the characteristics of modern risks, including technological changes, globalization, dynamic markets, environmental threats, pandemics, political unrest, social risks, and financial instability. Internal factors contributing to the emergence of risks in the enterprise, which play a key role in shaping its competitiveness and resilience, are identified. The risk management mechanism encompasses a set of measures for risk identification, assessment, and minimization. The most common means and techniques to influence risks include risk reduction, preservation, transfer, avoidance, acceptance, prevention, and mitigation. The article identifies and analyzes the main directions for effectively reducing risks during project implementation, including risk assessment, the development of contingency plans, efficient time management, the utilization of modern technologies and tools, and the development of team competencies. Conclusion. Effective risk management requires all project participants to realize that the real risk lies not in the execution of modern projects but in their abandonment, which may lead to a loss of competitiveness and market positions in the future. The competitiveness of modern enterprises depends on their ability to manage potential risks effectively. Enterprises that take risks into account can adapt to changes more rapidly, develop strategies to counter adverse impacts, and implement flexible business models. Risk consideration opens up new opportunities for innovation and the creation of competitive advantages, forming the basis for successful competitiveness in the dynamic contemporary business environment.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.