APPLICATION OF AN UPGRADED RISK-CONTROLLING MECHANISM FOR ENSURING ECONOMIC STABILITY OF MANUFACTORING ENTERPEISES
ABSTRACT - The proposed article presents an upgraded risk-controlling mechanism performing a consultative function to the management when taking managerial decisions. The performance of this function is expressed in risk assessment provision and alternative solutions for risk impact elaboration. The described actions refer to any risk jeopardizing the sustainable economic growth of a manufacturing enterprise. To perform this function, the risk-controlling mechanism relies on tools measuring the impact of external and internal factors; application of control cards for risk admissibility assessment; a model of identification and elaboration of alternative solutions on the effect on risk by the Monte Carlo method. The risk-controlling mechanism based on the application of the mentioned basic tools is approbated in a manufacturing enterprise in the processing industry: manufacture of metal structures. The results of the carried-out approbation are presented here.
Keywords: control card, decision making, ensuring sustainability of economic development, management effectiveness, risk-controlling, risk-management