ECONOMIC RISKS OF THE ENTERPRISE: POST-COVID TRANSFORMATION

Abstract

Background.Development of the economy in the context of globalization, on the one hand, promotes new opportunities for the production of new goods and services, and on the other hand, increases existing threats and causes new ones, so it has a negative impact on economic security. Most threats to the economic security of an enterprise cannot be pre­dicted, and unpredictedthreatsare risks. The current situation requires companies to im­prove and optimize continuouslythe process of risk management and policy making. The aim of the paper is justification of the need for risk management policy as acomponent of the economic security of an enterprise. Materials and methods. Current regulations of Ukraine, publications of domestic and foreign scientists on the research topic, statistical materials and Internet sourcesare the information base of the research. Methods of generalization, analysis and synthesis, comparison, scientific abstraction and systematization were used to achieve the main aim of the paper. Results. The COVID-19 pandemichas had impact on the enterprisesactivities. The risk structure can be determined bysuchareas asstaff, processes,profit, profitability and partnerships.Risk management allows the company to ensure necessary development, increase competitiveness and economic security. An important component of the deve-lopment of risk management in the enterprise is the development of appropriate policies that allow to form an adequate understanding of the processes of each participant in the system, ensure strict compliance with established rules and compliance with mandatory procedures in risk management.At present, risk management is becoming a way to survive in a difficult economic situation, which will allow the company to ensure necessary deve­lopment, increase competitiveness and economic security. An important component ofrisk managementdevelopment of the enterprise ismaking of appropriate policies that allow to form an adequate understanding of the processes of each participant in the system, ensure strict compliance with established rules and compliance with compulsory procedures in risk management. Conclusion. Risk management process should become an integral part of corporate culturefor any company. Developed and implemented risk management policy should ensure full responsibility of its employees for understanding, assessing, established risk appe­tite and applying appropriate methods to reduce negative impact of risks on current and future business activities and economic security of the enterprise. Or any company, the risk management process should become an integral part of corporate culture, and the developed and implemented risk management policy should ensure full responsibility of all its employees for understanding, assessing, established risk appetite and applying appropriate methods to reduce the negative impact of risks on cur­rent and future business activities and economic security of the enterprise. Keywords: risk, uncertainty, enterprise, entrepreneurial risk, risk management, economic security, risk management policy.