Theoretical Aspects of Organizational Risk Management

Abstract

Risk is multifaceted and complex, shaped by the industry-specific factors and inherent uncertainties. Risk assessment is a dynamic process that involves identifying, analyzing, and evaluating potential hazards to make informed decisions about risk mitigation. In industrial settings, this process is necessary to create a safe working environment and protect the overall well-being of the organization. Effective risk assessment involves the use of multiple factors and methods to address different types of risks. The article discusses the means, ways and methods used by enterprises to effectively assess risks. In addition, the strategies are studied - financial, operational, organizational, economic, credit and technical risks, which are used to assess different types of risks. Keywords: Risk, risk assessment, interest rate, financial, operational, organizational, credit risk.