Open AccessANALYSIS OF RISK ASSESSMENT AS A TOOL FOR SUSTAINABLE DEVELOPMENT OF ENTREPRENEURSHIP IN THE CONTEXT OF GLOBAL CHALLENGES AND THE CORONA CRISIS
Author(s) -
Victoria Voloshina-Sidey
Publication year - 2021
Publication title -
priazovsʹkij ekonomìčnij vìsnik
Language(s) - English
Resource type - Journals
ISSN - 2522-4263
DOI - 10.32840/2522-4263/2021-2-13
Subject(s) - entrepreneurship , context (archaeology) , business , risk analysis (engineering) , legislation , identification (biology) , risk management , covid-19 , sustainable development , political science , finance , medicine , paleontology , botany , disease , pathology , infectious disease (medical specialty) , law , biology
The article highlights the issues related to the problems of identification and timely assessment and analysis of risks to ensure the economic security of entrepreneurship from the standpoint of growth of integration processes in the world economy. It is noted that the formation of modern business is associated with the emergence of new global threats to economic security on the example of the coronavirus pandemic COVID-19. In the conditions of transformation of entrepreneurial risks, when existing methods and mechanisms of their management cease to be fully adequate to new realities and modern challenges, it is necessary to develop a modern concept of risks, improve their classification and improve existing mechanisms for analyzing and assessing business impacts. Thus, the study of these problems is the main purpose and objectives of the scientific article. The study analyzes the causes of major risks and threats under the influence of the pandemic and the consequences for the economic activity of small and medium-sized businesses in the country. The results of the study allow defining the essence of the concept of risk, to describe the improved classification of the most probable risks for small. Medium business in crises caused by the introduction of "lockdowns" and changes in legislation, the most affected by economic and further economic recovery and develop some ways to assess and mitigate risks. It is also proposed to introduce future stress tests for all levels of enterprises and organizations, which will be able to take into account and analyze a wider range of possible scenarios and risks associated with pandemic threats and the impact on business stability and resilience. Entrepreneurial risk management is complicated by the current situation of the Ukrainian economy in the world, as well as changes in the political, financial and global spheres have an increasingly significant impact on economic processes, including at the level of each individual business structure. Prospects for further research on this topic may be the study of the relationship and possible consequences that arise in business under the influence of modern risks and the development of the concept of "stress resistance" of the enterprise.