PECULIARITIES OF THE FORMATION OF A CULTURE OF RISK MANAGEMENT IN THE PROCESS OF ENSURING THE SUSTAINABLE DEVELOPMENT OF THE ENTERPRISE

Abstract

Today, the transformational processes of Ukraine's socio-economic development require a detailed and comprehensive study with an emphasis on the specifics of modern risks. The purpose of the study is to determine the features of the formation of a risk management culture in ensuring the sustainable development of the enterprise.

Because the current socio-economic situation in Ukraine is characterized by a high degree of instability and risk, the essence of the risk management culture is primarily to create in the internal environment of the enterprise such values and a way of evaluating actions that would contribute to conducting risk analysis when adopting any managerial, investment, innovative or project solutions in order to form a timely reaction and quick adaptation to changes in the business environment. In this regard, the main practical aspects of the enterprise's risk management culture and modern tools and methods that can be used to minimize risks, taking into account their impact on the sustainable development of the enterprise, were analyzed. These issues were considered in terms of the following components:

• the strategic position of the management
• the awareness and competence of the staff
• the processes and tools of risk analysis
• the creation of a favorable environment in the team

The features of the process of managing the sustainable development of the enterprise, based on the principle of forming a culture of risk management, are also determined. This includes an analysis of its advantages and disadvantages at the level of various functional areas of management. It is noted that when managing the sustainable development of enterprises, it is important for the management to clearly understand the specifics of the industry. The practical experience of Ukrainian enterprises in implementing sustainable management, which provides real-world examples of the concepts discussed, was studied.