Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)

Abstract

Development of Adaptive Organizational and Economic Mechanism of Strategic Management of Corporation Resistance to Risk

Author(s): Andrii Antokhov, Yryi Tytynnik, Alexander Krivenko, Volodymyir Pashynskyi, Svitlana Cherkasova

The article identifies the need to create and implement an adaptive organizational and economic mechanism of strategic management of corporation resistance to risk. The main features of the basic and new methodological approaches of strategic corporation risk management are substantiated and detailed. The universal organizational and economic mechanism of strategic management of corporation resistance to risk is proposed. The methodological research platform is determined by the tendencies of crisis management practices focused on the use of organizational and economic potential and application of mechanisms of response to risk situations. Development of a risk card, which is a visual overview of the most important characteristics of risks and threats, is necessary to check and justify the current strategy of the corporation and its capabilities to generate additional profitability. Strategic risk management in corporate activities is defined as a system of purposeful influence on all manifestations, types of risk making it possible to avoid, reduce or minimize the negative consequences of the subjective nature of the market environment. Considering that the effectiveness of the mechanism of strategic management of economic risks of corporations depends on these components, the necessity of introduction of specific approaches in the process of their functioning is proved.