Operational risk management of an enterprise: assessment and minimization methods

Abstract

The relevance of the topic. In today's highly competitive and dynamic business environment, risk management has become a crucial factor for any organization's success. Operational risk, which includes all business processes, is an all-encompassing risk that needs to be addressed by organizations. However, given the current geopolitical situation and low levels of risk culture in Moldovan enterprises, operational risk management is becoming more critical than ever. To address this issue, the authors of a recent study analyzed the possible factors contributing to the emergence of operational risk in Moldovan enterprises, as well as methods for managing it. The study delved into various risk assessment techniques, risk mitigation measures, and risk transfer strategies to identify the most effective approaches to managing operational risk. By exploring the best practices and methods for minimizing operational risk, the study aimed to provide Moldovan enterprises with valuable insights and tools to improve their risk management practices. CZU: [005.5:005.334](478). JEL: M190. DOI: https://doi.org/10.53486/icspm2023.05