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Risk management paradigms

The analysis of the existing theory and practice risk-menedzhmeta allowed to formulate the necessary perspective paradigm of risk management allowing to realize Enterprise-Wide Risk Management (a risk management within all enterprise), to try to obtain realization of the developed strategy and to influence the cost of the enterprise.

Comparative characteristic of the existing and necessary paradigm of risk management is given to tables:

Basic principles of management Existing paradigm Necessary paradigm
Systemacity Fragmented risk management
Subject of management: separate independent structural divisions of the enterprises
Object of management: separate private risks according to functional divisions
Integrated risk management of the enterprise
Subject of management: the operating subsystem. Risk management has to be coordinated by the top management and be performed by specialists and managers within functional duties
Object of management: system of private and integrated risks
Continuity Incidental management
Risk management is exercised as required when managers consider it necessary
Continuous management
Risk management has to be continuous and be performed at all levels of management, has to be objective and not depend on desires of managers
Complexity Limited risk management
Risk management affects the separate risks first of all insured, investment and separate financial risks
Expanded, complex risk management
Assessment and management of the system of external and internal risks taking into account the revealed interrelations, interdependence private (neytivnykh) and the integrated risks, synergism of risks
Focus Not purposeful (partially purposeful) management
Risk management is exercised without establishment accurately of effective objectives, the strategy of a risk management is absent
Purposeful management
The accurate determination of risk management objectives interconnected with determination of goal-setting of the enterprise
The strategy of risk management has to become the making strategy of the enterprise