Assessment of the Impact of the Risks of Foreign Economic Activities

: pp. 142 - 151
Lviv Polytechnic National University, Ukraine
Lviv Polytechnic National University

Risk is an integral part of the economic activity of any organizations that operate on the market in conditions of competition under the influence of external and internal environments. The word risk is often synonymous with loss, failure, which leads to negative consequences. However, no matter how many scientific or practical works are devoted to this issue, it will continue to be relevant, as the world becomes more changeable and threats have become an integral part of our lives. Therefore, assessing the impact of risks is an important component of management activities.

The purpose of the article is to analyze the essence of the concept of risk, to define the types of risks in foreign economic activity and to present the recommended stages of the process of assessing the impact of foreign economic activity risks of domestic companies through the formation of a system of indicators. The article considers different approaches to the essence of the interpretation of the concept of "risk". Different types of risks that can affect the enterprise during its foreign economic activities are characterized. The process of assessing the impact of risks of foreign economic activity of domestic companies through the formation of a system of indicators has been formed. Each separate step of the recommended process is described. The qualitative and quantitative methods of assessment are described. It is emphasized that the choice of risks and, accordingly, their assessment indicators depends on the object of the study, the obtained information and its purpose.

Based on the results of the research, it was concluded that there are a large number of types of risks that cannot be covered in the research process. Therefore, in the process of managing risks in the field of foreign economic activity and assessing their impact, it is necessary to identify first the risks that are most acceptable in a specific situation, taking into account the type of activity, the political and economic situation, the level of cooperation with an external counterparty, etc. And on the basis of the selected list and evaluation tasks, decide on the evaluation methods and directly the types of indicators. The recommended process will allow not only to reduce the labour intensity of work related to risk management, but also to obtain operational information for solving the key problem.

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