An innovative method of managerial decision-making based on risk tolerance management of organizations in various sectors of the economy
- Authors: Zubova L.V.1, Astashenko A.N.2
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Affiliations:
- The Russian Presidential Academy of National Economy and Public Administration
- Russian University of Cooperation
- Issue: Vol 19, No 5 (2023)
- Pages: 139-145
- Section: Management
- URL: https://journals.eco-vector.com/2541-8025/article/view/626986
- EDN: https://elibrary.ru/CWFTYM
- ID: 626986
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Abstract
Management decision-making based on the determination of the risk tolerance of organizations in various sectors of the economy is an integral part of the decision-making process in conditions of uncertainty of the consequences of risk at any level. For effective management of economic risks in decision-making, it is necessary to use scientifically sound methods, which in turn is possible on the basis of modern methods of information processing, since risk management and risk tolerance of organizations in various sectors of the economy is largely a subjective process. The subjective process, one way or another, is closely related to the possibility of the emergence of uncertainty conditions that give rise to risky situations, the illiterate management of which leads to the emergence of risky combinations, complication of their structures and the rise in the cost of projects. The aim of the research is to develop an innovative method of managerial decision-making based on risk tolerance management of organizations in various sectors of the economy, which includes eight stages and provides an increase in the economic efficiency of spending funds in conditions of uncertainty of the consequences of risks together with the innovative development of the economy of the Russian Federation. In this article, for the first time, an innovative method of managerial decision-making based on risk tolerance management of organizations of various sectors of the economy has been developed, which allows, based on the level of risk tolerance of the enterprise, to make economically feasible decisions, which in turn ensures innovative development of the Russian economy in risky and risk-free conditions.
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About the authors
Lyudmila V. Zubova
The Russian Presidential Academy of National Economy and Public Administration
Author for correspondence.
Email: zl11@yandex.ru
ORCID iD: 0000-0003-2345-2504
SPIN-code: 2162-5563
Dr. Sci. (Econ.), Associate Professor, Professor of the Department of Economics
Russian Federation, Saint PetersburgAlexandra N. Astashenko
Russian University of Cooperation
Email: andrey_b79@bk.ru
SPIN-code: 6294-3975
candidate for the degree of Candidate of Economic Sciences, teacher of the Department of Economic Security, Main Educational and Scientific Center of the Cooperative Education System
Russian Federation, MytishchiReferences
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