Abstract
Creating a risk management culture is an important task for any enterprise in a changing and unpredictable external environment. The purpose of this study is to consider the theoretical foundations of determining the essence of the risk management culture and practical aspects of its creation in the enterprise. The article discusses the methodological provisions of the creation of a risk management culture at the enterprise, according to which a system of parameters for risk management is built: a list of key success factors and risk management indicators in the context of the main risk groups, the activity scope of the company under study, and the areas of influence on risks. Risk management culture is considered a complex concept that determines how much all employees of an enterprise are aware of the values within the risk management system and how much the results of their activities are associated with achieving the lowest risk targets. For that purpose, the company must provide risk identification, risk analysis, risk response, and risk control. The creation of a risk management culture involves combining all these stages into an united company management chain. The methodology for creating a risk management culture was tested at MNS Investment LLC. As a result of the analysis, a risk rating was constructed in terms of the degree of their impact on the main key success indicators. The relationship of identified risks with the main activity fields of the company and the areas of influence on risks is analysed. It was discovered that the greatest risk to the company's activities in terms of impact on the purpose achievement is the risk of violating the reliability and financial status of suppliers. The use of this methodological approach is of practical value since it allows integrating the stages of risk management into the company's activities
Highlights
The risk management culture in a company is an important component of the risk management system, its core, the management of enterprises frequently does not pay due attention to it
Risk management culture is considered a complex concept that determines how much all employees of an enterprise are aware of the values within the risk management system and how much the results of their activities are associated with achieving the lowest risk targets
The relevance of studying this issue is due to the need to create an effective risk culture at the enterprise, which should combine the identification of key risks of the enterprise, the organisation of risk management, and the use of effective methods to overcome them
Summary
The risk management culture in a company is an important component of the risk management system, its core, the management of enterprises frequently does not pay due attention to it. They considered the essence of risk culture and outlined the main characteristics and attributes that determine its creation in the enterprise. The issues related to creating a risk management culture are understudied by Ukrainian researchers, most of the articles are devoted to the investigation of general theoretical aspects of the company's corporate culture. Many researchers have considered methods of risk analysis and management. Specific methods are applied that are aimed at evaluating risk in terms of the probability of its emergence and its impact on achieving the company's goals. It is essential to apply one of the methods for risk analysis and to build a risk management system that would allow creating a risk culture at the enterprise, that is, to combine all the business processes of the enterprise with the risk management
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