Theoretical and methodological principles of risk management in trade organisations

Abstract

Traders play a key role in meeting the country's household demand for goods and services. Given that these organizations operate in a competitive environment, the success of their business depends on their ability to respond quickly and effectively to changes in the market situation. The increase in competitiveness is an incentive for business organizations to search for and implement innovative methods of organizational management. The challenges of managing a trading organization can vary significantly depending on the type of business, the specifics of the products, and the company's position in the market. The main characteristics of the training organizations have been identified and have been classified according to the type of activity. The peculiarities of the activities carried out by commercial organizations have been identified and a classification of the typical risks faced by these companies has been presented. In order to increase the efficiency of the business of such organizations, it is considered advisable to apply a project approach. The issues of project management and implementation in trading companies have been analyzed and outlined. The basic principles of managing project risks according to international project management standards, in particular P2M, ICB IPMA, PMBoK PMI, PRINCE2, ISO 21500 and AGILE, have been presented. The main project risks faced by the trade organizations have been identified. It was found that the same risks can accompany both projects and the organization’s operational activities. Thus, the operational risks of the organization overlap with the project risks. To reduce the time and increase the efficiency of resource management, it is deemed reasonable to develop and apply tools for the integrated management of project and operational risks of trading companies.