Risk management as a tool for ensuring sustainable enterprise functioning under uncertainty

The article considers the concept of uncertainty in the enterprise's operating environment, explores the essence and nature of threats and risks, and establishes the difference between risk and uncertainty. The risk management system at the enterprise is investigated. It is established that the risk management system is an integral part of the organization's management subsystem and represents a risk management system based on the process of their identification, assessment, and analysis, as well as the selection and use of methods to neutralize their consequences, aimed at achieving the necessary balance between the strategic capabilities of the enterprise and the level of risk. An analysis of international risk management standards is carried out, and the features of national standards are considered. It is determined that the State Standard DSTU ISO 31000:2018 operates in Ukraine, which allows the business entity to compare its risk management practice with international experience. The main factors influencing risks on the management system are summarized. It is proven that today requires constant monitoring of risk-forming factors to create an effective and flexible management system of the enterprise under market conditions. The stages of risk management are presented and detailed: environment analysis, risk identification, risk analysis, risk optimization. The features of risk management and the main methods of their optimization at the enterprise to minimize their impact on the results of the enterprise's activities are considered. It is established that the risk for each enterprise is individual, so the use of one or another optimization method is also individual and is determined by the conditions of the external and internal environment. Global experience most often uses external methods (insurance, hedging, diversification, risk distribution) and internal methods (self-insurance, limitation, quality assurance of products, business planning) of reducing enterprise risks. It is summarized that the effectiveness of the entire risk management and the efficiency of economic subjects' activities depend significantly on the adopted risk management concept.