The Risk-Based Approach in the Development of the Management of Organizations

Vladimir I. Avdiiskii, Vyacheslav M. Bezdenezhnykh, Nadezhda M. Yartseva


In the formation of new model approaches to analyzing the economy from mega-, macro- to meso- and micro-levels, the shift in the focus of assessing the world, regional and national markets and business from the traditionally limited number of macro-indicators of the state of the economy (GDP, profit, growth rate, inflation, exchange rate etc.) to the analysis of complex indicators of the well-being of society (quality of life, income level of various population groups, quality of education, health care, investment structure, etc.) should be taken into account. One of the main objectives of the study was to find the right risk management tools. For this, cases were analysed in which various methods of managing the socio-economic sphere were used. Myths and stereotypes about the behaviour of people in this area were identified. Risk management is a complex and delicate area of scientific research; therefore, creative thinking was required in adapting the research methodology to get around the difficulties and provide a rich overview for study. The problem of introducing a risk-based approach (RBA) both in the processes of analyzing the state and development trends of the economy and in the regulation (control) process in various regulatory scenarios also requires a deep study of these issues both at the methodological and applied levels. This problem has significant differences from the usual tasks of RBA in the problems of analysis and regulation of the development processes of complex socio-economic systems.


economic models; legal nature; risk management; human (organisational) activity; society


Ardalan, K. 2011. Globalization and information technology: Four paradigmatic views. Technology in Society, 33(1-2): 59-72.

Avdiyskiy, V. I. and V. M. Bezdenezhnykh 2017. Theory and practice enterprise risk management. KnoRus, Moscow.

Avdiyskiy, V. I. and V. M. Bezdenezhnykh. 2011. Uncertainty, variability and inconsistency in the objectives of the risk analysis of behavior of economic systems. Effective Crisis Management, 3: 46-61.

Barlow, S. M., A. R. Boobis, J. Bridges, A. Cockburn, W. Dekant, P. Hepburn, G. F. Houben, J. König, M. J. Nauta, J. Schuermans and D. Bánáti. 2015. The role of hazard – and risk-based approaches in ensuring food safety. Trends in Food Science & Technology, 46(2): 176-188.

Crevel, R. W., J. L. Baumert, A. Baka, G. F. Houben, A. C. Knulst, A. G. Kruizinga and C. B. Madsen. 2014. Part II: development and evolution of risk assessment for food allergens. Food and Chemical Toxicology, 67: 262-276.

Domingues, M. S. Q., A. L. F. Baptista and M. T. Diogo. 2017. Engineering complex systems applied to risk management in the mining industry. International Journal of Mining Science and Technology, 24(4): 611-616.

Duraković, B. and A. Cosic. 2019. Impact of quality and innovation strategies on business performance of Bosnian B2B and B2C companies. Sustainable Engineering and Innovation, 1(1): 24-33.

Durmus, D. 2021. Complexity in economics and beyond: Review paper. Heritage and Sustainable Development, 3(1): 34-43.

Dziuba, T. 2021. Information model for improving accounting and analytical support for economic potential management. Scientific Horizons, 24(2): 108-119.

Fedulova, I. V., A. Y. Havryliuk and K. Ricketts. 2021. Creation of a risk management culture on the example of MNS Investment LLC. Scientific Bulletin of Mukachevo State University. Series “Economics”, 8(3): 31-38.

Gladwin, T. N., T.‐S. Krause and J.J. Kennelly. 1995. Beyond eco‐efficiency: Towards socially sustainable business. Sustainable Development, 3(1): 35-43.

Hilber, I. and S. Gabbert. 2020. Choosing the best for preventing the worst: A structured analysis of the selection of risk management options in REACH restriction dossiers. Regulatory Toxicology and Pharmacology, 118: 44-54.

Kahneman, D. and A. Tversky. 2000. Choices, values, and frames. Cambridge University Press, Cambridge.

Khachaturyan, M. V. and Ye. V. Klicheva. 2020. Development of ownership risk management systems as the basis for ensuring the economic sustainability of russian organizations in a pandemic. Modern Management Technology, 3(93): 9303.

Nikolaychuk, T. O. 2021. Innovative forms of experience services in business activities. Scientific Bulletin of Mukachevo State University. Series “Economics”, 8(3): 46-59.

Organ, J. and L. Stapleton. 2012. Information systems risk through a socio-technical lens: future directions in systems risk research. Proceedings of the International Federation of Automation and Control International Conference on International Stability and Systems Engineering, 2012: 138-143.

Organ, J. and L. Stapleton. 2016. Technologist engagement with risk management practices during systems development? Approaches, effectiveness and challenges. AI & SOCIETY, 31(3): 347-359.

Organ, J. and L. Stapleton. 2019. A socio-technical systems framework for risk management in financial services: Some empirical evidence from a case study of the Irish Banking Crisis. IFAC-PapersOnLine, 52(25): 148-153.

Stiglitz, J. 2019. Russia is an ever-expanding drama. Financier, Special Issue: 27-29.

Tatsii, V. Ya., Ye. M. Bilousov and D. S. Kosinova. 2021. Economic sovereignty and economic security of Ukraine (interrelation and mutual understanding) in the context of their doctrinal and legal support. Journal of the National Academy of Legal Sciences of Ukraine, 28(3): 209-223.

Tversky, A. and D. Kahneman. 1979. Prospect theory: An analysis of decision under risk. Econometrica, 47(2): 263-291.

Yu, C.-P., H.-G. Chen, G. Klein and R. Jiang. 2015. The roots of executive information system development risks. Information and Software Technology, 68: 34-44.

Full Text: PDF

DOI: 10.33687/ijae.009.00.3957


  • There are currently no refbacks.

Copyright (c) 2021 Vladimir I. Avdiiskii

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.