MONITORING AS A TOOL OF IDENTIFYING AND MINIMIZING THE ECONOMIC RISKS OF AGRIBUSINESS ORGANIZATIONS

Abstract

The article presents a comparative analysis of the well-known tools for identifying and minimizing economic risks, which showed monitoring to be the most resource-intensive and efficient tool, which reduces the risk-burden on entrepreneurial activity of agribusiness organizations with the least management costs. The foreign experience of international standards of risk management, namely the part of the definition of the main principles, as well as stages of identification and prevention of business risks are studied. The author's classification of risks for agricultural organizations is made, allowing to systematize and identify risks based on differentiation of directions of organizations’ activity, as well as to reduce the likelihood of making untimely and inefficient management decisions that lead to new risks. The author's scheme for monitoring economic risks is developed, which reflects the hierarchical model of building a monitoring system based on the production structure of organizations, which allows increasing the efficiency of the functioning of agricultural units by preventing risks and / or minimizing their consequences.