Risks of Industrial Enterprises in the Context of the COVID-19 Pandemic

• Main Author: Orlova Olena M.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2021-02-01
• Series: Bìznes Inform
• Subjects: risk; risks classification; risks assessment methods; industrial enterprises; covid-19 pandemic
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2021-2_0-pages-131_137.pdf

The article is aimed at the theoretical generalizing and systematizing the risks of industrial enterprises in the context of the COVID-19 pandemic. The essence of the concept of «risk» is analyzed and the need for its estimation in the context of the COVID-19 pandemic caused by the SARS-CoV-2 virus is specified. The main classification features of risks in the activity of industrial enterprises are considered. The state of Ukraine’s industry in 2020 is examined and it is concluded that as a result of the coronavirus crisis it is in a difficult situation. A number of risks are identified and their negative impact on the activities of industrial enterprises in Ukraine, both in quarantine and in post-quarantine conditions, is characterized. Among them are: financial-economic, international, commercial, industrial, and social risks. The expediency of application for the estimation of determined risks of statistical, expert, accounting-analytical, analytical, economic and statistical methods, as well as methods of analogues, sensuality, scenarios, Monte Carlo, is substantiated. Given the uncertainty of the time frame associated with the duration of the coronavirus pandemic, it is proposed to constantly monitor risks in order to improve the situation in the sphere of industry, which will allow timely detection of weaknesses and identification of the negative manifestation of crises in various industry sectors. Prospects for further research in this direction are the development of a mechanism for managing and reducing the negative impact of identified risks on the activities of industrial enterprises in both quarantine and post-quarantine conditions, as well as outlining the instruments for ensuring the positive effect of the proposed mechanism.