Risk Management Culture as a Systematic Method for Ensuring Safety Development
Olha Prokopenko1, Borys Kholod2, Valentyna Pavlova3, Viktoriia Niziaieva4, Olena Shtepa5, Victoria Orlova6
1Olha Prokopenko*, Department of Business Administration Tallinn University of Technology, Tallinn, Estonia.
2Borys Kholod, Department of Economics and Business Process Modeling, Alfred Nobel University, Dnipro, Ukraine.
3Valentyna Pavlova, Department of Entrepreneurship, Trade and Exchange Activities, Alfred Nobel University, Dnipro, Ukraine.
4Viktoriia Niziaieva, Department of Regulatory Policy Problems and Entrepreneurship Development, Institute of Industrial Economics of NAS of Ukraine.
5Kyiv, Ukraine Olena Shtepa, Management Department, Borys Grinchenko Kyiv University, Kyiv, Ukraine.
6Victoria Orlova, Department of Entrepreneurship, Trade and Exchange Activities, Alfred Nobel University, Dnipro, Ukraine.

Manuscript received on November 12, 2019. | Revised Manuscript received on November 23, 2019. | Manuscript published on 30 November, 2019. | PP: 8652-8657 | Volume-8 Issue-4, November 2019. | Retrieval Number: D8653118419/2019©BEIESP | DOI: 10.35940/ijrte.D8653.118419

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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: Issues of developing a culture of risk management, today is perhaps one of the most significant in risk management. The lack of a well-built risk management culture is for many companies, one of the main barriers to building an effective risk management system. It should be understood that all methods that are used to manage risk are as effective as the culture of risk management in the organisation. It depends on the culture of risk management how secure the organisation can feel as part of its development strategy. The development of a risk management culture, in contrast to increasing the costs of expanding the risk management department, is an intensive way to increase the effectiveness of the risk management system and, as a result, provide the possibility of safe development under any market conditions and challenges. By cultivating a risk management culture for the entire hierarchy of employees, you can achieve much better results than simply hiring expensive risk managers. Keywords :
Keywords: Risk Management, Risk Management Culture, Safety Development, Systematic Method.
Scope of the Article: Simulation Optimization and Risk Management.