THE MAIN KEY FOR BUSINESS DEVELOPMENT - A STRATEGIC APPROACH OF USING RISK MANAGEMENT SYSTEM

Abstract

The article reveals the principles of risk management and internal control in companies. Risk management includes assessment and minimization of threats, distribution of responsibility among process participants, development and implementation of risk mitigation measures. Risk audit plays an important role, allowing to check the effectiveness of selected strategies. Also considered is the risk matrix, which helps to classify risks by probability and impact which allows companies to rationally allocate resources and make informed decisions to ensure business sustainability.