THEORETICAL APPROACHES TO THE INTERPRETATION OF THE ESSENCE AND CHARACTERISTICS OF THE CONTENT OF THE CONCEPTS “UNCERTAINTY”, “RISK”
Abstract
Purpose. The aim of the article is development of theoretical, methodological provisions on the interpretation of the basic concepts that characterize the system of production and economic risks of enterprise activity. Methodology of research. The following methods were used in the process of substantiation of theoretical principles, development of practical recommendations: observation and comparison, formalization, generalization – to disclosure of the economic substance of the concepts “uncertainty”, “risk” and “aggregate risk”; systematization, classification, analysis and synthesis methods of quantitative, qualitative, abstract and logical analysis – in studying and analysis of the production risk. Findings. The economic essence of the concepts “uncertainty”, “risk” and “aggregate risk” has been highlighted. Generalizing of existing approaches to the definition “economic risk” has been established that most authors associate it only with the adverse consequences of management in certain circumstances. It has been established that the production risk associated with industrial activity of the enterprise, characterized by uncertain outcome of development and the possibility of deviation of production parameters from the envisaged level. Originality. The author interpretation of the concept “commercial risk” that, unlike existing scientific approaches, allowed to supplement its main elements and functions has been proposed. It has been established that the specified type of risk has a dual nature, as there is not only the result of internal features of production technology for dairies, but also depends on the level of raw materials and the purchasing power of consumers. Practical value. The concept “commercial risk” concerning the activity of enterprises which should be considered the situation in the activity of the enterprise, which to some extent affects the amount of income and characterized by uncertainty information, which is used in making management decisions has been determined.
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