Problems and Prospects of the Financial Risk Management System Development of Economic Entities

Julia Konopleva, Olga Pakova, Svetlana Zenchenko

2021

Abstract

In modern macroeconomic conditions the well-being and efficiency of economic entities can be achieved through the formation of an economic security management system, including the assessment and the neutralization of financial risks. The significance of this component is due to the fact that financial security affects all the main functional areas of any organization. The financial risk management plays a huge role in ensuring the sustainable development of both individual organizations and society as a whole, so the company's risk management issues are relevant. Based on this, the purpose of the study develop scientificallybased recommendations for improving the management of financial risks of economic entities. The scientific significance and novelty of the research expand and deepen the scientific understanding of the problems and prospects of the financial risk management system development. As a result, the next most significant scientific results: the main proposals of the financial risk management in the sustainable development of the organization; the expediency of implementation of an adaptive risk management framework and implementation of targeted measures; developed a system of gradual assessment of risks in the organization. The results of the study are of applied importance which consists in substantiating methods for improving the efficiency of risk management in organizations. The implementation of the recommendations and the introduction of an adaptive risk management structure will reduce the threat level of their manifestation and negative impact on the activities of economic entities.

Paper Citation

in Harvard Style

Konopleva J., Pakova O. and Zenchenko S. (2021). Problems and Prospects of the Financial Risk Management System Development of Economic Entities. In Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI, ISBN 978-989-758-519-7, pages 452-460. DOI: 10.5220/0010592304520460

in Bibtex Style

@conference{issdri21,
author={Julia Konopleva and Olga Pakova and Svetlana Zenchenko},
title={Problems and Prospects of the Financial Risk Management System Development of Economic Entities},
booktitle={Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,},
year={2021},
pages={452-460},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010592304520460},
isbn={978-989-758-519-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,
TI - Problems and Prospects of the Financial Risk Management System Development of Economic Entities
SN - 978-989-758-519-7
AU - Konopleva J.
AU - Pakova O.
AU - Zenchenko S.
PY - 2021
SP - 452
EP - 460
DO - 10.5220/0010592304520460