Priority Approaches to Risk Assessment in the Activities of Entities of the Agricultural Sector

Olga Charucka, Olha Vyshnevska (), Liliia Kozachenko and Alla Kostyrko
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Olga Charucka: Academy of Finance and Business Vistula, Warsaw, Poland
Olha Vyshnevska: Mykolayiv National Agrarian University, Mykolayiv, Ukraine
Liliia Kozachenko: Mykolayiv National Agrarian University, Mykolayiv, Ukraine
Alla Kostyrko: Mykolayiv National Agrarian University, Mykolayiv, Ukraine

Oblik i finansi, 2020, issue 4, 158-166

Abstract: The development of spheres of the economy is significantly dependent on changes in the external environment. Increasing the production capacity of enterprises, expanding market opportunities, image positions are formed under the influence of a set of management decisions that is a response to certain changes in the environment. The purpose of the article is to reveal the essence and features of priority approaches to risk assessment in the activities of entities of the agricultural sector. It was proved that identifying effective alternatives is an advantage that allows you to get the planned results, minimize costs and limit the overuse of all types of resources. The effectiveness of analytical assessment can be ensured only under clearly defined conditions of partnership and levels of responsibility, a common goal, which is focused on the development of market eneteties. The supplement formed by the authors is related to possible solutions that can be aimed at bringing market enteties to bankruptcy or fictitious bankruptcy, that is, certain fraudulent actions. The making decisions should take into account all possible scenarios of events and risks. Risk assessment should be aimed at obtaining reliable information on the choice of alternative solutions, which will be focused on the timeliness and adequacy of the formation, adoption and adjustment of decisions taking into account the changing situation, its scale and complexity of practical solutions, threat prejudices. It is advisable to form an effective (adequate) risk management strategy that will ensure the achievement of goals. One of the important rules for organizing the management process should be to optimize the relationship between the level of risk and the possible results of themanagement decisionsimplementation, selected alternatives. The difference in risks in the areas of adjustment of management decisions depends on their scale, which determines the tools for implementing the selected alternatives. An important component of the effectiveness of the assessment is the correct analytical task, the choice of an effective research method and adequate to the situation (input conditions) management decision (management decisions). Analytical assessment and risk prediction in a global world cannot be limited territorially, the global world proves the need to adapt and adjust management decisions by market enteties in view of existing and potential hazards, including environmental ones.

Keywords: risk assessment; analytical task; strategic planning; management decisions; external threats (search for similar items in EconPapers)
JEL-codes: A10 Q10 Q14 (search for similar items in EconPapers)
Date: 2020
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