RISKS OF BUSINESS PROCESS MANAGEMENT OF AN ENTERPRISE ON THE PATH TO STRENGTHENING ITS COMPETITIVENESS

Abstract

In conditions of total economic uncertainty, exacerbated by prolonged military operations in Ukraine, turbulence in the markets of goods and services, and increasing trends towards digitalization, risks to the competitiveness of domestic enterprises are rapidly multiplying, which requires updating approaches to their management. It has been established that business processes that cover management tasks related to the development and implementation of a strategy and human capital management are characterized by such types of risks as lack of resources, low adaptability, unsuccessful goal setting, staff shortage, professional degradation and burnout, low labour efficiency, loss of intellectual capital, and inertia. The risks of production and logistics business processes include technical risks, lack of electricity, shortage of production capacities, loss of cargo, monopoly of the supply of necessary raw materials and materials, violation of deadlines, personnel injuries, low product quality, equipment failure, rupture of partnership relations, and destruction of material assets. The effectiveness of research and development and innovation management processes is affected by the risks of equipment obsolescence, budget overruns, low commercialization of the results obtained, personnel resistance to change, and underutilization of digitalization opportunities. Marketing, sales, and marketing business processes for modern enterprises are associated with the risks of falling demand, changing customer tastes, the emergence of receivables, deterioration of business reputation, supply chain disruptions, incorrect assessment of potential demand, improper storage conditions of goods, etc. It has been established that the use of risk management methods during the implementation of business processes will have a positive impact on the competitiveness of the enterprise by increasing the digital and financial stability of the business, optimizing  financial decisions, improving the state of investment attractiveness, rational use of resources, increasing the levels of manageability of business processes and their operational efficiency.