DEVELOPMENT OF A CONCEPTUAL MODEL OF THE RISK-CONTROLLING SYSTEM FOR A VERTICALLY INTEGRATED ENTERPRISE OF THE MINING AND METALLURGICAL INDUSTRY

Risk management issues have become particularly relevant in connection with the recent events: the 2008 crisis, including failures of the banking system, the collapse of two of the world’s four largest investment banks, minor changes in global financial markets, the COVID-19 pandemic, the events of early 2022 and other negative trends. The need for system integration of various aspects of business process management in the organizational system has become one of the main reasons for the emergence and implementation of the concept of controlling in enterprises. At the same time, the main goal of the risk-controlling organization is to improve the efficiency of management decisions, taking into account the impact of risks. Risk management based on the principles of controlling should meet the criteria of goal setting, flexibility, balance, coordination and integration, sufficiency of information and methodological support and integrity. The author proposes a comprehensive integrated risk-controlling system for a vertically integrated enterprise of the mining and metallurgical industry, which allows you to build the process of making managerial decisions at all levels of management (operational, tactical, strategic) taking into account risks. For this purpose, the stages of risk controlling are built in the context of management functions (planning, accounting and analysis, organization and motivation, control) and business processes (marketing, finance, production, logistics, innovation, personnel) of the mining and metallurgical industry. In this study, the author formulates the conceptual provisions of the risk-controlling system for a vertically integrated mining and metallurgical company, in terms of determining the purpose, objectives, principles, object and subject of the risk-controlling system; the main characteristics of risk-controlling are highlighted and the author’s interpretation of the definition of risk-controlling is given as an integration approach to risk management based on the principles of goal orientation, interconnection and coordination.

risk management, risk controlling, mining and metallurgical industry, business processes, integration approach, conceptual model, strategy, management approaches, vertical integration, triadic definition

Pishchalkina I. Yu. Development of a conceptual model of the risk-controlling system for a vertically integrated enterprise of the mining and metallurgical industry. Business. Education. Law, 2022, no. 3, pp. 80—85. DOI: 10.25683/VOLBI.2022.60.335.