Abstract
The current state of risk management in Ukraine is considered in the article. The main factors of economic risk for Ukrainian enterprises are identified, such as the unstable political and economic situation in the state, high inflation, unsustainable tax legislation, etc. The needs of the Ukrainian risk management system are identified, as well as specific features of domestic risk management, which include the lack of own infrastructure of risk management and standards of its implementation, significant differences in the Ukrainian and foreign risk profiles for the enterprise, inefficient state risk management, high level of political risk, etc. The need for further research and development of risk management in Ukraine is proved. The procedure for selection of risk management measures in industrial enterprises is suggested, taking into account the world experience in risk management, in particular the FERMA risk management standards, as well as the peculiarities of the existing approach in Ukraine. The proposals for application of risk management measures are made to mitigate the negative impact of environmental factors on the activities of the enterprise and, as a result, improve the results of the economic activities of the enterprise.
Highlights
The current trends in the world economy determine the constant need to search for new methods and measures to minimize and control economic risk and its negative impact on entrepreneurial activity
It is determined that risk manage ment in Ukraine is not common and is only beginning to be applied by domestic companies, mainly in the banking sector and large industrial corporations, where the main profile types of risk have been investigated to some extent
Directions of further scientific research are the pre requisites for further development of tools and models of risk management for domestic industrial enterprises
Summary
The current trends in the world economy determine the constant need to search for new methods and measures to minimize and control economic risk and its negative impact on entrepreneurial activity. Due to the ongoing process of European integra tion, modern companies have to bring their activities in line with international standards in order to occupy the segments of the world market and successfully compete in them. Understanding and applying risk management techniques enables to make strategically correct decisions, to occupy a profitable market position in order to increase the level of profitability and sustainable development of the enterprise. That is why risk management must take a key position in the management structure of a modern enterprise
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