A systematic approach to constructing a corporate risk management system
https://doi.org/10.17073/2072-1633-2015-4-39-46
Abstract
The article is devoted to the aspects of risk management procedure. The author substantiates the sequence of steps of risk management in a corporation, discloses the contents of each stage. A model of constructing a system of risk management in the corporation, based on the theory of joint value creation is suggested . This model is characterized by the integration of strategic planning, the system of strategic indicators and key risk indicators of the corporation. The author’s approach is based on the theory of joint value creation of the corporation, which implies the introduction of a sustainable system of risk management of each internal and external customers of the company. The integration of risk management and strategic management by determining the related key risk indicators for each indicator in the the strategic indicators system (SIS) is suggested. It is proposed also to improve the economic and mathematical methods used for risk analysis and assessment, namely to use the fuzzy logic methods ( the method of fuzzy numbers), because this method allows to estimate the probability of risk under conditions of uncertainty, which is especially important for the economic environment with stochastic input. Thus, the article describes the «pitfalls» that occur at each stage of risk management in corporate management and suggests approaches to improve corporate risk management system.
About the Authors
A. D. Khairullina
Kazan Federal University
Russian Federation
Russian Federation
Candidate of Economics Sciences, Senior Lecturer,
18 Kremlyovskaya Str., Kazan, 420008, Republic of Tatarstan
A. V. Pavlov
Kazan Federal University
Russian Federation
Russian Federation
Doctor of Economic Sciences, Professor,
18 Kremlyovskaya Str., Kazan, 420008, Republic of Tatarstan
References
1. Barton T., Shenkir U., Uoker P. Risk-menedzhment. Praktika vedushchikh kompanii. [Risk management. The practice of leading companies.]. Moscow: Izd. dom «Vil’yams», 2008. 208 p. (In Russ).
2. Kulikova E. Corporate governance risks: approaches to assessment from the perspective of a minority shareholder. Aktsionernoe obshchestvo: voprosy korporativnogo upravleniya. 2011. No. 14. Pp. 45–27. (In Russ).
3. Martsynkovskii D. Overview of the main aspects of risk management. Sait Korporativnyi menedzhment, 2011. Available at: http://www.cfin.ru/finanalysis/risk/main_meths.shtml. (accessed: 15.09.2015). (In Russ).
4. Mezhdunarodnyi standart ISO 31000:2009 «Menedzh ment riskov. Printsipy i rukovodyashchie ukazaniya». [The international standard ISO 31000: 2009 «Risk management. Principles and Guidelines «]. 2009. 32 p. (In Russ).
5. Standarty upravleniya riskami Federatsii evropeiskikh assotsiatsii risk-menedzherov. [Risk management standards of the European Federation of Associations of risk managers]. 2003. 16 p. (In Russ).
6. AS/NZS 4360:2004 – Risk Management, issued by Standards Australia. P. 13.
7. Remesveimi V., Prakhalad K.K. Budushchee konkurentsii. Sozdanie unikal’noi tsennosti vmeste s potrebitelyami. [Future competition. Create a unique value with customers]. Moscow: Olimp-Biznes, 2006. 352 p. (In Russ).
8. Moskovkin A. Sozdavaya strategiyu upravleniya riskami. [Creating a risk management strategy]. Avail able at: http://www.cfo-russia.ru/stati/index.php?article=299&sphrase_id=118600. (accessed: 15.09.2015). (In Russ).
9. Kaplan R., Maiks A. Otlichnaya ideya upravleniya riskami: novye printsipy. [Excellent idea of risk management, new principles]. Harvard Business Review. 2012. No. 8. Pp. 40–53. (In Russ).
10. Khairullina A.D., Shagabutdinova Z.V. Ekstsellent idea of the risk management, Nev printsiples. Aktual’nye problemy i perspektivy razvitiya ekonomiki v usloviyakh modernizatsii: Materialy VII Mezhdunarodnoi nauchnoprakticheskoi konferentsii. Saratov, 2012. Pp. 174–179. (In Russ).
11. Nedosekin A.O., Abdulaeva Z.I. Fuzzy-logic Count balanced performance. Problemy i mekhanizmy innovatsionnogo razvitiya mineral’no-syr’evogo kompleksa Rossii: Sbornik trudov Mezhdunarodnoi nauchnoprakticheskoi konferentsii. St. Petersburg: Natsional’nyi mineral’no-syr’evoi universitet «GORNYI». 2012. Pp. 69–73. (In Russ).
12. Makkarti M.P., Flinn T.P. Risk: upravlenie na urovne top-menedzherov i sovetov direktorov. per. s angl. [Risk: Management at the level of top management and boards of directors]. Moscow: Al’pina Biznes Buks, 2005. 234 p. (In Russ).
Review
For citations:
Khairullina A.D., Pavlov A.V. A systematic approach to constructing a corporate risk management system. Russian Journal of Industrial Economics. 2015;(4):39-46. (In Russ.) https://doi.org/10.17073/2072-1633-2015-4-39-46
Views:
1079
Email this article 