The role of risk management in ensuring economic security corporations

Abstract

Importance: the risk management system as a key element of ensuring the economic security of a corporation in the modern world. This paper examines the theoretical foundations, methodologies for risk assessment and management, and the practical aspects of their implementation. Purpose: to substantiate the economic efficiency and necessity of creating a specialized risk management department and implementing a formalized risk management system to improve the economic security and financial stability of a corporation. Research design: includes a theoretical analysis of existing risk management approaches and methods, followed by a practical section. This section calculates the costs of establishing the department, constructs a risk map for prioritization, and performs a quantitative analysis of the impact of key risks on revenue, along with a forecast of the effectiveness of the proposed control measures. Results: the most critical risks for the corporation are those of ineffective investments, personnel shortages, lost revenue, increased illiquid assets, and loss of intellectual property. Calculations have shown that the potential damage from these risks (up to 120 million rubles) many times exceeds the costs of organizing risk management. Therefore, the implementation of the proposed measures is economically feasible and will significantly improve the level of economic security.