Risk is a combination of the probability of occurrence of a particular event. Perhaps, as so many situations and types of risk can be identified.
The degree of risk is increased when there are in the country changes in the legislation and reforms in the political sphere. Non-standard situations in business shows that it is necessary to economists-financiers and managers familiar with the basic concepts and methods of control for all types of business risks.
Find different types of risk is closely connected with the development of combinatorics and probability theory. In the Middle ages the development of mathematics was determined, in particular, the direct interest of the gambling – slot cards, dominoes (bony plates), the «loaded» the bones. The most lively began to study theoretical and methodological aspects of risk at the end of the XIX – beginning of XX century.
Risk management is the process of working out a compromise, the situation, which would satisfy all, aimed at achieving a balance between the benefits of risk reduction and necessary for this expenditure, as well as decisions about what actions to be taken.
If earlier for the command-and-planned economy the problem of risk simply ignored, that in the modern world more and more enterprises should be to create in its organizational structure of the unit as the risk management Department, which would be quite natural addition to the traditionally independent functional units.
Risk assessment is a set of analytical activities, allowing to predict the possibility of additional entrepreneurial income or a certain amount of the damage arising from the risk situation and the late adoption of measures to prevent risk.
To assess the degree of risk the risk management Department may apply both objective and subjective methods of risk assessment. The results can be presented graphically using the curve of probability of occurrence of a certain level of losses. To avoid business risks and the losses that may arise enterprises may opt out of the most risky operations on the market. When the «crusade of the risk of» we need to find reserves and sources of funds to cover potential losses. It may be the means of the enterprise or the attracted credit resources.
Each participant of the business has its own tastes and preferences, directed associated with the risk or receipt of compensation, and shall identify the risks, which is exposed to decide which of the risks are acceptable to him and, finally, to find ways and means how to avoid unwanted risks, as well as to be able to evaluate, in which the financial costs of this will go and does this have any meaning.
The system of risk management primarily involves their assessment, the results of which allow in the future to choose the optimal way of reducing risk.
One of the possible ways to reduce risks is to hedge, which means insurance business risks, the protection of property interests of enterprises in the implementation of dubious reliability of operations due to educated funds of funds by making insurance premiums.
The enterprises of the agricultural complex, are subject to risk themselves should create directly in the business entity insurance funds, to reduce the financial losses associated with the influence of economic, social, climatic, technological and other factors. This will allow to promptly in the shortest possible time to overcome the difficulties. Definition of the structure of the provision for unforeseen expenditure is recommended to carry out on the basis of the identification of unforeseen expenditures by type of expenditure, for example, on wages in mind the downtime brigades, the additional costs of conversion in the case of a sharp change of the structure of freight traffic, subcontracts. Such differentiation will determine the degree of risk associated with each category of costs, which can then be extended to the individual phases of the production.
Effective way of neutralizing the risk – diversification, including the use of alternative opportunities and sources differ from each other, generating revenue at different levels of risk.
The most optimal way of risk management is their transfer to other persons by contract of factoring or guarantee. In these cases are concluded a contract with commercial banks, the credit organisations or third parties allowing to compensate for the resulting financial losses.
Success in the business world critically depends on the correctness and validity of the chosen strategy of economic and business activities and with the obligatory account should be taken of the probability of occurrence of critical situations.
The work was submitted to International Scientific Conference «The problems of economic security, modeling and forecasting economic processes», Israel (Tel Aviv), April, 16-23, 2013, сame to the editorial office on 22.03.2013.