RISK-ORIENTED APPROACH IN THE SYSTEM OF ENTERPRISE ECONOMIC SECURITY

The concept of risk-based approach to economic security is able to focus its consideration of individual goals in interdependent groups, that is, where there is a cross functional of different centers responsible for economic security. Ensuring a reliable reporting system and law observance are in the responsibility of the economic entity, and it is able to influence on these processes. A properly formulated approach to risk management can guarantee the achievement of objectives. This study reveals the main categories included in the concept of risk-oriented approach and the relevance of its implementation in the system of economic security of business entities. Particular attention is paid to the strategic component of the risk-oriented model of economic security of the enterprise: its key components and components of the risk management process, reflecting the relationship between the strategic planning and risk-oriented approach within the framework of this system. The authors conducted a graphical study of the risk areas of an economic entity, conducted modeling of risk-free situations and demonstrated their graphical representation. At the same time, the areas of acceptable risk are modeled taking into account the requirements of key stakeholders of economic entities-shareholders. On the example of a commercial enterprise risks as the main component of the risk-oriented system of economic security has been highlighted. (c) 2019 Published by Future Academy www.FutureAcademy.org.UK