RISK MANAGEMENT OF EMERGENCIES OF BUSINESS STRUCTURES IN THE CONTEXT OF GLOBAL INFORMATIZATION

2017 ◽  
Author(s):  
Hamed Rashed Sayed Abdullah Alnuaimi ◽  
Keyword(s):  
Risk Management ◽  
Management System ◽  
Living Conditions ◽  
Normal Operation ◽  
Natural Phenomenon ◽  
Emergency Situations ◽  
Risk Management System ◽  
Business Structures ◽  
The Impact ◽  
Business Structure

Modern processes in a society increasingly began to take on the character of emergencies, namely, the situation in a certain territory, which developed as a result of an accident, a dangerous natural phenomenon, a catastrophe, the spread of a disease, a natural or other disasters that may or did entail human casualties, damage to health people or the environment, significant material losses and disruption of the living conditions of people. At the current time, such a situation is the COVID-19 pandemic, which has already claimed the lives of many people and brought significant economic consequences, including a complete shutdown of the activities of business structures. In this regard, the purpose of the study is to develop a conceptual framework for a risk management system for emergency situations, which can ensure the normal operation of a business structure and prevent its death in the event of an emergency event of any nature. The author analyzed the impact of the COVID-19 pandemic on society and the activities of business structures as one of the latest and most striking examples of emergencies. The analysis revealed that this event could completely destroy the business; therefore, the primary and indispensable criterion for the normal viability of a modern business structure is the ability of top management, based on a strictly scientific basis, to predict, carry out prevention, rationally control and effectively manage risks. Based on the analysis, the author proposed conceptual risk management of emergencies for business structures in the context of global informatization of digitalization. The proposed system is based on the fact that modern processes in society are a symbiosis of two concepts - emergency situations and "black swan", i.e. this is difficult to predict an event that has significant financial and material losses and a violation of the living conditions of an economic entity up to its complete dysfunction. The proposed comprehensive emergency risk management system will allow neutralizing two main and most ambitious consequences: catastrophic losses (financial, labour) and suddenness of the event.

PERSONNEL SECURITY IN THE SYSTEM OF RISK MANAGEMENT OF EMERGENCIES OF BUSINESS STRUCTURES

2017 ◽  
Author(s):  
Taleb Abdullah Mohammed Ali Alhammadi ◽  
Keyword(s):  
Risk Management ◽  
Management System ◽  
Human Resources Management ◽  
Management Tool ◽  
Remote Work ◽  
Contemporary World ◽  
Process Uncertainty ◽  
Risk Management System ◽  
Business Structures ◽  
The Impact

In economics, the decision-making process at all levels of government takes place in conditions of constant uncertainty of the final results of activities. The growing tendency of process uncertainty and global consequences, which was clearly seen in the example of the coronavirus pandemic, forces all businesses to pay attention to the risk management system as an effective tool to counter the impact of emergencies that affect all aspects of a business. One of the "weaknesses" of the business structure is its personnel component. Risk management, an important management tool at all levels and a risk-oriented approach, provide many methods and ways to make decisions more consciously and reasonably. The theoretical and methodological analysis allowed the author to develop recommendations for improving personnel security in the risk management system of emergencies of business structures. The peculiarity of the proposed guidance is that it allows taking into account modern phenomena, namely emergencies that occur in the contemporary world and tend to increase in size, scale and damage. Ignoring the quality of human resources management of business structures, the level of professional development of workers, mechanisms for reproduction and implementation of their business qualities, protection of the interests of professionals and safety of society from non- professionals poses a real threat the security of all humanity. Crisis phenomena create additional obstacles for business structures on the way to their sustainable development. The risk management system has always been able to protect the organization from harmful influences, the effectiveness of which depended on how modern this system is, i.e. able to meet everyday challenges. Today, the most acute problem is emergencies: pandemics, fires, earthquakes, etc.; all this forces businesses to move to remote work. Thus, when creating a modern system of business management risk, it is necessary to focus on its personnel component through the prism of the impact of emergencies.

scholarly journals Risk management in emergency situations

2020 ◽  
pp. 6-9
Author(s):  
Iryna BASHYNSKA ◽  
Taleb Abdullah Mohammed Ali ALHAMMADI ◽  
Hamed Rashed Sayed Abdullah ALNUAIMI
Keyword(s):  
Risk Management ◽  
Management System ◽  
External Environment ◽  
Belief System ◽  
Recovery Phase ◽  
Living Conditions ◽  
Financial Loss ◽  
Significant Deterioration ◽  
Emergency Situations ◽  
Risk Management System

Introduction. The risk management system is aimed at achieving the necessary balance between profit and reduction of losses of business activity and is intended to become an integral part of the management system of the organization, i.e. should be integrated into the general policy of the company, its business plans and activities. Only under this condition, the application of the risk management system is useful. However, there is a separate category of risks that are least studied by scientists – emergency risks (in the context of the enterprise). The purpose of the paper is to study features of risk management in emergency situations, including in the context of the enterprise. Results. Emergency – is the situation in a separate territory or entity on its or water object, characterized by violation of normal living conditions caused by catastrophe, accident, fire, natural disaster, epidemic, epizootic, epiphysis, use of the means of destruction or a dangerous event that (could) lead to a threat to the life or health of the population, a large number of casualties and casualties, significant material damage, as well as the inability of the population to reside in such territory or facility proceedings on her economic activity. General signs of emergency: presence or threat of death; significant deterioration of living conditions; considerable deterioration of human health and financial loss. An essential component of this management should be the emergency risk management system, which includes four stages: planning phase, response phase, recovery phase and mitigation phase. Conclusion. It is necessary to solve the problem of management in emergencies not only by restructuring the functional structure and advanced training of managerial personnel but also by moving to a new management paradigm. The latter refers to a belief system based on the fundamental principles of situational management. According to these provisions, the construction of a control system in emergencies is a response to environmental influences of different nature. Moreover, the latter is considered as an open system. The main prerequisites for its successful functioning should be determined both inside and outside the system. Thus, the effectiveness of the operation of the system is associated with how well it responds to the external environment, how resistant it is too unexpected changes in the external environment, and how effectively it uses its inherent capabilities.

scholarly journals Analysis of Bio-Risk Management System Implementation in Indonesian Higher Education Laboratory

2021 ◽  
Vol 18 (10) ◽  
pp. 5076
Author(s):  
Anom Bowolaksono ◽  
Fatma Lestari ◽  
Saraswati Andani Satyawardhani ◽  
Abdul Kadir ◽  
Cynthia Febrina Maharani ◽  
...  
Keyword(s):  
Higher Education ◽  
Risk Management ◽  
Management System ◽  
Gap Analysis ◽  
Secondary Data ◽  
Education Institution ◽  
Management Systems ◽  
Primary Data ◽  
Risk Management System ◽  
The Impact

Developing countries face various challenges in implementing bio-risk management systems in the laboratory. In addition, educational settings are considered as workplaces with biohazard risks. Every activity in a laboratory facility carries many potential hazards that can impact human health and the environment and may cause laboratory incidents, including Laboratory Acquired Infections (LAIs). In an effort to minimize the impact and occurrence of these incidents, it is necessary to evaluate the implementation of a bio-risk management system in every activity that involves handling biological agents. This study was conducted in an Indonesian higher-education institution, herein coded as University Y. This is a descriptive, semi-quantitative study aimed at analysing and evaluating the implementation of the bio-risk management systems used in laboratories by analysing the achievements obtained by each laboratory. The study used primary data that were collected using a checklist which referred to ISO 35001: 2019 on Laboratory Bio-risk Management. The checklist consisted of 202 items forming seven main elements. In addition, secondary data obtained from literature and document review were also used. The results show that out of 11 laboratories examined, only 2 laboratories met 50% of the requirements, which were Laboratory A and B, achieving good performance. Regarding the clauses of standards, a gap analysis identified leadership, performance evaluation, and support as elements with the lowest achievement. Therefore, corrective action should be developed by enhancing the commitment from management as well as improving documentation, policy, education and training.

scholarly journals Preventive risk management in the enterprise

2021 ◽  
pp. 22-25
Author(s):  
Oksana ZAKHARCHUK ◽  
Oksana KOVALYK ◽  
Kseniia KOVTUNENKO
Keyword(s):  
Risk Management ◽  
Management System ◽  
Point Of View ◽  
Integrated System ◽  
Main Task ◽  
Management Culture ◽  
Risk Management System ◽  
Risk Management Process ◽  
Preventive Method ◽  
The Impact

In modern conditions, when changes in the external environment occur quite often, the probability of risks increases, there is a need to study and develop a risk management system for each enterprise separately, depending on its specifics. The article considers the main definitions of risk, its impact on the company's activities. The main types of risks that arise in any direction of business activity are considered. The impact of these risks on the company's activities is determined. It is determined that each risk can be considered as a negative financial result of activity or the probability of loss of profit, as well as a positive result of activity in the form of additional unplanned profit. The article considers risk management at the enterprise as an integrated system. Each stage of the risk management process is considered as a separate element and as one component of the whole process. There are three approaches to risk management: adaptive, integrated, and preventive. One of the methods of risk management the article considers the preventive method, the mechanism of its implementation. Preventive management is considered from the point of view of a scientific approach as a process of developing and implementing coordinated preventive actions aimed at preventing and minimizing losses from the impact of possible risks on the enterprise. The main task of preventive management is defined, which is to identify and eliminate possible causes of risk. The use of the preventive method and its impact on the interrelation of each activity process are prescribed. It also describes the need to introduce preventive analysis and assess the impact of internal and external factors on business activities. It is determined that the active application of the risk management system using the preventive method, provided that it quickly responds to changes that occur during the company's activities, forms a risk prevention system that allows you to work continuously and covers all areas of activity of all structural divisions of the enterprise, changing the general principles and generally accepted management culture.

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (1) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

scholarly journals Design of Risk Management Based on Iso 31000 in PDAM Tirta Meulaboh

2017 ◽  
Vol 2 (01) ◽  
pp. 21
Author(s):  
Zainal Putra ◽  
Syafruddin Chan ◽  
Moenawar IHA
Keyword(s):  
Risk Management ◽  
Risk Analysis ◽  
Management System ◽  
Risk Identification ◽  
Risk Management System ◽  
Optimal Service ◽  
Iso 31000 ◽  
Potential Risks ◽  
The Impact ◽  
Water Meter

<p>Regional Water Company (PDAM) Tirta Meulaboh is the only state- ownedof West Aceh district that provides clean water for the residents of West Aceh, especially the residents of the city of Meulaboh and its surroundings. But in its operation the company has not yet to have a risk management system, so it has the impact on the company's survival and not optimal service to its customers. The study aims to identify risk, risk analysis and risk evaluation, in order to do prevention and mitigation of the impact of risk on each section in PDAM Tirta Meulaboh using risk management system standard ISO 31000. The process steps of risk management based on ISO 31000, starting from risk identification to methods Risk Breakdown Structure (RBS), risk analysis using matrix risk quantification and Risk Priority Number (RPN), and the evaluation of risks by using risk map. The results showed that in PDAM Tirta Meulaboh there were 43 risk events that have the potential business problems, which if they were not solved immediately it could affect the performance of the company, even the survival of the company. Of the 43 potential risks that were logged to the red zone, there were 5 potential risks which occupies the first rank is on productions departement: the defective of production water meter, the defective of distribution water meter and retrieval water by tank car without through the water meter. Branch Kaway XVI: customers are reluctant to pay the water bill and in IKK Rantau Panjang: water meter of raw water was damaged. The Efforts to mitigate against the risk of those 43 events which were logged in the red zone has not been planned and done yet by the management of PDAM Tirta Meulaboh.</p><p><br />Keywords: ISO 31000, PDAM Tirta Meulaboh, Risk Management</p>

Establishing a risk management system with comprehensive assessment of events

2020 ◽  
Vol 26 (7) ◽  
pp. 1661-1679
Author(s):  
S.A. Cherkashin ◽  
V.S. Cherkashina
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Management System ◽  
Government Regulation ◽  
Objective Assessment ◽  
Assessment System ◽  
Event Risk ◽  
Risk Management System ◽  
Effective System ◽  
The Impact

Subject. The availability and adequacy of the risk management system of any company is taken into account by government regulation, rating agencies, auditors, and company owners and shareholders. Therefore, companies make arrangements for risk management in some form or other. However, the assessment of event risk and creation of a transparent and effective event assessment system raise many questions. Objectives. We focus on solving the problem of attaining an objective assessment of event risk for company's units, creating an effective risk management system for companies operating in a rapidly changing environment. Methods. The methodology of the study draws on the use of parallel work of departments on assessing event risk and adopting measures to mitigate it. Results. We offer a solution for creating an effective system for event risk assessment. The system also deals with events that simultaneously affect different departments. Conclusions. Organization of simultaneous work of units on assessment of events, their classification as event risk, and taking measures to minimize the impact on company's activities will reduce the time for the analysis of events and increase the objectivity of event risk assessment.

scholarly journals ANALYSIS OF THE RISK MANAGEMENT SYSTEM OF AIRLINE

2021 ◽  
Author(s):  
Tamara Oleshko ◽  
Nataliia Popyk ◽  
Yana Osypova
Keyword(s):  
Risk Management ◽  
Management System ◽  
Risk Mitigation ◽  
Mitigation Measures ◽  
Civil Aviation ◽  
Aviation Industry ◽  
Term Survival ◽  
Risk Management System ◽  
The World ◽  
The Impact

Risks are an integral part of any company. Not all types of risk can be identified, not all risk mitigation measures are cost-effective. Risk and the cost of avoiding it in aviation require rational decision-making mechanisms. There are many different risks in any airline as an aircraft operator, carrier and business entity. One of the main tasks of airlines is to minimize them. The article examines the risks that arise in the process of airlines and analyzes the risk management system in airlines. The impact of the pandemic on the aviation industry of Ukraine has been studied. The aviation industry both in Ukraine and in the world plays an important role, its importance in the world economy is constantly growing. This is facilitated by both technological development and the latest developments in the aviation industry, as well as globalization. However, at the same time, the number of risks is increasing, they are becoming more complex and diverse. Therefore, the task of risk management is relevant. Today, the risk management system of any airline is an urgent need, because the competitiveness and success of the airline is inextricably linked to risks. The activities of modern commercial enterprises, including civil aviation enterprises, are aimed at the formation of sustainable competitiveness and long-term survival. There are hundreds of airlines in the world, including 55 in Ukraine. Today, civil aviation in the world is in crisis. Ukrainian aviation is no exception. The closure of state borders and other measures taken in many countries to combat the spread of the coronavirus have led to a catastrophic reduction in air traffic. As a result, airlines were forced to reduce the frequency or cancel the vast majority of flights. All participants in the aviation market suffer from this situation. The development of a risk management system in the airline should be an integral part of its targeted management. The structure of risks faced by the airline is very complex and diverse. Risk is the residual probability of an event with significant consequences after considering mitigation measures.

scholarly journals The influence of the risk-oriented system of funded pension provision on the socio-economic security of the state

2021 ◽  
Vol 11/3 (-) ◽  
pp. 5-7
Author(s):  
Svitlana ACHKASOVA
Keyword(s):  
Risk Management ◽  
Performance Indicators ◽  
Management System ◽  
Risk Profile ◽  
Economic Security ◽  
The State ◽  
Risk Management System ◽  
Financial Monitoring ◽  
The Impact ◽  
Oriented System

Introduction. The implementation of a risk-oriented approach is an important issue for implementation in various fields. The purpose of the paper is to assess the impact of the risk-oriented system of funded pension provision on the socio-economic security of the state. The method of analysis of T. Saati's hierarchies was used to assess the impact of the instruments of the risk-oriented system of accumulative pension provision on the socio-economic security of the state. Results. The highest priority is given to 3 instruments: use of tools for identification and formation of risk profile of accumulative pension entities – 1st place (0,295), introduction of internal risk management system for funded pension entities in the field of funded pension provision – 2nd place (0,278); establishment of general requirements to the performance indicators of the subjects of accumulative pension provision, in particular financial monitoring – 3rd place (0,166). Conclusion. Scenarios for the development of socio-economic security of the state are modeled. It is determined that the scenario of accelerated development is more probable in assessing the impact of instruments for implementing a risk-oriented system of funded pension provision, in particular: use of tools for identification and formation of a risk profile of the activities of the subjects of the accumulative pension provision; use the criteria of risk-oriented composition of investment areas of pension assets in the field of funded pension provision; use of FINTECH, REGTECH in the field of funded pension provision; use of financial mediation in the field of funded pension provision; establishment of general requirements to the performance indicators of the subjects of funded pension provision, in particular financial monitoring; introduction of an internal risk management system for the activities of the subjects of the funded pension provision in the sphere of the funded pension provision.

scholarly journals INFORMATION SUPPORT ISSUES OF RISK MANAGEMENT OF SOCIALLY RESPONSIBLE CORPORATIONS

2020 ◽  
pp. 92-103
Author(s):  
Serhii Fedorovich Lehenchuk ◽  
Iryna Mykolayivna Vygivska ◽  
Tatiana Petrivna Barchak
Keyword(s):  
Risk Management ◽  
Management System ◽  
Information Needs ◽  
Information Support ◽  
Annual Reports ◽  
Industrial Complex ◽  
Negative Effects ◽  
Socially Responsible ◽  
Risk Management System ◽  
The Impact

Urgency of the research. In today's economic environment uncertainty and risk overwhelm any business. A large number of risks are inherent in socially responsible business, which necessitates the need for enhanced monitoring and management, the effectiveness of the risk management system and requires finding new directions for its development. Target setting. Satisfaction of stakeholders' information interests necessitates research of the current state of the risk management system of large companies, their standardization, disclosure of risks in the reporting of socially responsible business. Actual scientific researches and issues analysis. The research of problematic issues regarding risk management of the activity of economic entities was carried out by such scientists as A. P. Algin, P. Y. Atamas, I. T. Balabanov, I. A. Blank, V. V. Vitlinskyy, L. V. Hnylytska, B. A. Zasadnyi, A. B. Kaminsky, T. M. Korolyuk, G. V. Savitska, A. E. Shevelev, O. V. Sheveleva, A. D. Sheremet, O. I. Yastremskii. Uninvestigated parts of general matters defining. Comprehensive research requires the standardization of risk management as well as the creation of an information resource on risk management of socially responsible business for stakeholders. The research objective. Analysis of the annual reports of socially responsible companies (on the example of enterprises of agro-industrial complex) will enable to identify the risks inherent in their activities, methods of managing them as well as to establish the extent to which the issue of quantifying the negative effects of risks and opportunities can be identified. The statement of basic materials. This article analyzes the state and trends of risk management development of socially responsible business, establishes an insufficient level of presenting information on risk in the reporting of agribusiness companies and low degree of communicating information to stakeholders on quantifying the impact of risks and opportunities. Conclusions. Suggestions to increase the effectiveness of the risk management system of socially responsible companies through international risk management certification are made. The directions of development of the risk management system in terms of quantitative measurement of the consequences of risks and opportunities with the purpose of meeting the information needs of stakeholders have been identified.

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