Strategic risk management in conditions of economic instability in enterprises of the agricultural sector of the economy

Abstract

The relevance of the study is due to the need for a timely response to the growing number of threats to the sustainable development of enterprises in the agricultural sector of the economy of Ukraine, as well as, in view of this, the need to improve strategic risk management. The development of a risk management strategy is an important tool for economic stability and sustainable development of an enterprise in the long term. The purpose of the study is to find effective directions for improving strategic risk management based on a deep analysis of its current level and making innovative proposals for the development of effective risk management strategies. Methods. Among the general scientific methods used in the study were: analysis and synthesis - to study the formation of a risk management strategy as a whole, after analysing the factors and components of this process; generalization - to highlight the essential properties of risks and uncertainty for a deeper understanding of these phenomena. Special research methods were also used, in particular, abstract-logical - to understand the logic of the formation of inter-industry and intra-industry relations between enterprises in conditions of economic instability. A systems research approach was applied to consider the set of relationships and connections between the elements of the strategic risk management system. As a result of the study, the need to modernize existing business processes and develop new ones at enterprises of the agricultural sector of the economy in the context of risk minimization was substantiated. The methodological approach to the sequence of stages of developing and implementing a risk management strategy in agricultural enterprises was improved. A system of anti-crisis management measures at enterprises of the industry was proposed. The conclusions argue for the feasibility of regulatory and financial support of the state for agricultural production in the context of protecting it from possible threats and minimizing risks. It is proven that when developing a risk management strategy at the enterprise, industry or region level, first of all, it is necessary to pay attention to the innovativeness of the proposed measures. It is noted that the processing of own products at agricultural enterprises and the introduction of resource-saving technologies significantly increases the amount of added value, which in conditions of economic instability can contribute to reducing risks.