Risks of foreign economic activity: features and management methods these

: pp. 3 - 9
Lviv Polytechnic National University, Department of Foreign Trade and Customs
Lviv Polytechnic National University
Lviv Polytechnic National University
Lviv Polytechnic National University

At the current stage of development of the Ukrainian economy within the framework of international cooperation, an important aspect of functioning organisation is the awareness and education of both employees of the risk management department and all staff in the field of risk management that arise in the process of foreign trade operations. After all, timely response to a risk situation or to prevent the emergence of risks in foreign economic activities reduces potential losses in the future. In this article substantiates the relevance of the study of this topic, in particular the reasons of risks in the field of foreign economic activity, the factors of influence on the appearance of risks, typologically risks in the process of foreign economic transactions and management methods of risks.

The methods of risk management were analyzed, in particular, diversification, limits, insurance, hedging, self-insurance and reinsurance were considered. Special attention was paid to hedging instruments that can be actively used to minimize the risks of foreign economic activity. The risk management process was recommended, which will consist of the following stages: analyzing the risk situation and risk identification, their assessment, optimization methods application, decision making and control for its implementation.

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