Risk Management of the Effectiveness of the Organization’s Business Processes

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Abstract

Task. In order to increase the efficiency of business processes, the modern direction of economics, studied by analysts and actively implemented in organizations, risk management should be maximally integrated into the concept of solving problems related to risk management of a business entity. The main problem in this area is the lack of methods for organizing and practical application of risk management for the effectiveness of business processes in companies.

The purpose of the study is to try to present the main vectors for the development of risk management techniques in terms of increasing the efficiency of business processes, as one of the elements of the concept for solving problems related to risk management of a business entity.

Model. The paper presents a risk management methodology in terms of increasing the efficiency of business processes of an economic entity using the example of insurance organizations. It is proposed to integrate risk management of the efficiency of business processes of an economic entity into the concept of solving problems related to risk management of the organization.

Conclusions. Risk management is a fairly new area of economic sciences that requires constant study of its capabilities in various areas and processes of organizations. The need to develop methods for both organization and implementation of optimal and relevant elements of risk management in the risk management practice of an economic entity, especially aimed at increasing the efficiency of business processes, a rather narrow purpose of management, has become urgent.

Practical significance. The presented methodology will allow for the most successful integration of risk management of the efficiency of business processes into the holistic concept of risk management of the organization. In practice, the application of the methodology will expand the possibilities of finding the most effective measures and procedures to reduce the negative impact of internal and external factors on the organization’s business processes.

Originality. Development of a methodology for organizing and applying risk management of the effectiveness of business processes and integration into the holistic concept of risk management of the organization.

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About the authors

Aksana A. Turgaeva

Financial University under the Government of the Russian Federation

Author for correspondence.
Email: a_turgaeva@mail.ru
ORCID iD: 0000-0002-8374-1706
SPIN-code: 8718-4901

Cand. Sci. (Econ.), Associate Professor, Associate Professor of the economic security and risk management Department

Russian Federation, Moscow

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