Особливості управління фінансово-господарською діяльністю суб’єкта господарювання на основі ризик-менеджменту

Abstract

UK: Статтю присвячено проблемам управління фінансово-господарською діяльністю металургійних підприємств на основі ризик-менеджменту з урахуванням поділення їхньої діяльності на операційну, інвестиційну та фінансову. Розглянуто сутність поняття «ризик» у ситуації альтернативної поведінки суб’єкта господарювання. Досліджено показники визначення сукупного ризику від фінансової та господарської діяльності, які були запропоновані О.С. Стояновою, та можливість їх застосування в умовах економіки України. Запропоновано об’єднати операційну та інвестиційну діяльність та розглядати їх сукупність як єдину господарську діяльність. Побудовано економіко-математичну модель оптимізації сукупного ризику суб’єкта господарювання на основі пошуку компромісу між максимізацією прибутку та мінімізацією сукупного ризику.

EN: The article is devoted to the problems of financial and economic activities management of metallurgical enterprises on the basis of risk management, taking into account the division of their activities into operating, investment and financial. The essence of the risk concept in the situation of alternative behavior of the business entity is considered. The development of the economic category "Aggregate Risk" is analyzed and this concept is clarified on the basis of the alternative approach in the multi-probable situation of the final result. The indicators of determining the total risk from financial and economic activities, which were proposed by O.S. Stoyanova, have been investigated and the possibility of their application in the economy of Ukraine. The general approach to complex risk management in activity of the metallurgical enterprise has been defined. It is proposed to combine operating and investment activities and consider their combination as a single economic activity. An economic-mathematical model of optimization of the aggregate risk of the business entity was built on the basis of finding a compromise between profit maximization and minimization of aggregate risk. Analytical dependences were constructed between different parameters of functioning of the business entity, which together with the existing functional dependencies created the equations and inequalities of the obtained economic-mathematical model. It is proved that the management of the total risk of economic and financial activities at metallurgical enterprise is more effective risk management tool than the individual risks management. The application of the approach to aggregate risk management in strategic management ensures the complexity and systemic nature of risk management of industrial enterprises. The proposed conceptual approaches to the management of aggregate risk of financial and economic activities are the basis for the formation of the development strategy of the metallurgical industry. Approbation of the research results was carried out in the conditions of PJSC «Interpipe NTRP» to determine the main parameters of the risk management strategy. The effectiveness of the developed risk management strategy of the business entity is determined on the basis of the difference between the optimized and actual values of the main indicators of its financial and economic activity. The effectiveness of the implementation of the developed strategy is to reduce the overall level of risk of the enterprise by 1.71 and increase the return on capital of the enterprise by 7.65%.