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Influence of the Risk-Based Approach on the Development of the Management of Organizations

Author

Listed:
  • Avdiiskii Vladimir I.

    (Department of Economic Security and Risk Management, Financial University under the Government of the Russian Federation, Moscow, Russian Federation)

  • Bezdenezhnykh Vyacheslav M.

    (Department of Finance and Currency and Credit Relations, Russian Foreign Trade Academy, Ministry for the Economic Development of the Russian Federation, Moscow, Russian Federation.)

  • Yartseva Nadezhda M.

    (Department of Finance and Currency and Credit Relations, Russian Foreign Trade Academy, Ministry for the Economic Development of the Russian Federation, Moscow, Russian Federation.)

Abstract

The current state, processes and development trends of national and world economic systems require the development of fundamentally new theoretical economic models adequate to the market, reflecting real changes in the world in the near future and in the long term. The purpose of this 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. The authors emphasized that macro-indicators of the state of economic systems are not canceled and are used in existing calculation models, but their predicted “strength” should be supplemented by a new model analysis based on a risk-based approach, taking into account the distinguished trend of assessing the current economic development.

Suggested Citation

  • Avdiiskii Vladimir I. & Bezdenezhnykh Vyacheslav M. & Yartseva Nadezhda M., 2022. "Influence of the Risk-Based Approach on the Development of the Management of Organizations," Zagreb International Review of Economics and Business, Sciendo, vol. 25(1), pages 177-184.
    • Handle: RePEc:vrs:zirebs:v:25:y:2022:i:1:p:177-184:n:1010
    DOI: 10.2478/zireb-2022-0011
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    References listed on IDEAS

    as
    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Ardalan, Kavous, 2011. "Globalization and information technology: Four paradigmatic views," Technology in Society, Elsevier, vol. 33(1), pages 59-72.
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    More about this item

    Keywords

    Organisational activity; economic development; economic models; legal nature;
    All these keywords.

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • G3 - Financial Economics - - Corporate Finance and Governance
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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