The basis of organization risk management is focused on searching and organizing the work processes in order to reduce the risks, the art of getting and increasing income in the uncertain economic situation. Also, the ultimate objective of the risk management meets the objective function of entrepreneurship; it consists in maximizing profit at the optimal acceptable level for the entrepreneur in relation to profit and risk.
Management of every organization has direct or implicit requirements to monitor, detect and deal with the company’s risk. The mechanism of this internal monitoring system should be set in such a manner, that developments, which threaten the continuing existence of the company, can be timely recognized.
The monitoring system should also give assurance that, when necessary, proper measures are taken to ensure the ability of the company to continue as a going concern. ENWER Consulting supports the organization’s management to build such a system and helps them to identify vulnerable areas of the business and give advice on how to manage, eliminate or avoid the risk.
Risk management as a control system consists of two subsystems: a controlled subsystem (the object of control) and control subsystem (the subject of control).
The object of control in risk management is the risk itself, risky capital investment and economic relations between entities which are part of the risk management context. These economic relationships include the relationship between the insured and the insurer, the borrower and the lender, among entrepreneurs, partners, competitors, etc.
The subject of control in risk management is a special group of people (financial manager, insurance specialist, purchaser specialist, underwriter, etc.), who, through various methods and techniques of managerial influence, carries a purposeful operation of the facility management.
ENWER Consulting acts in both directions when monitoring the overall company’s risk management system. Our objectives regarding the risk management philosophy consist of:
• Developing risk awareness
• Focusing on material risks that threaten business objectives
• Promoting a pro-active risk behavior
• Designing and implementing a process of continuous risk assessment
• Developing the system of centralized risk coordination and evaluation
We support organizations in defining the framework for risk awareness and also a degree of risk taken by managers, staff and even the entire organization in the way of pursuing its goals and objectives. Decision-makers have to understand their risk for properly managing the risk. A robust risk management system has to rely on a strong and well-articulated risk discipline that permeates the entire organization.