Risk management of Ukrainian business in the conditions of technological changes

Abstract

The relevance of the issue of enterprise risk management lies in the fact that in modern conditions, company management is forced to review and improve their work methods, look for alternative methods of development, and also strive to raise the quality of the organization's activities to a new level, which is possible only under the condition of an established system -topics of risk management. Mechanical engineering is one, if not the fundamental, industry, without the production of which production in other industries would simply be impossible. Mechanical engineering is an important part of the Ukrainian economy. It is worth noting that the situation due to the COVID-19 pandemic and full-scale military aggression affected the work of enterprises and the process of risk management. Increased volatility and unpredictability in the global economy and regulatory requirements have created new and more complex challenges for risk management. During the production process, engineering companies need to take into account the potential risks associated with current day-to-day activities. Risks may arise from the nature of the materials, equipment, people, etc. used. It is important to have a program that can identify the various risks that may arise, understand the likelihood of the risks occurring and the potential impact on the business, staff, shareholders, customers, suppliers and the community was a risk to be aware of. Risk management is the responsibility of the organization's management, and the main goal of this process is aimed at managing risks, effective use of resources, maximizing profits and minimizing threats, while protecting the interests of employees and clients. Adaptation of international risk management experience to the needs of Ukrainian enterprises allows you to use experience in building and planning a risk management system. Risk management at industrial enterprises is a very relevant topic, on the one hand, due to the extremely important role of mechanical engineering in the world and national economy, and on the other hand, due to the growing uncertainty in the results of the enterprises' activities.