Introduction of a Corporate Security Risk Management System: The Experience of Poland

Abstract

To ensure the economic security of companies, it is necessary to introduce a risk management system based on the use of various tools, especially financial ones. The purpose of the article is to scientifically substantiate the paradigm of integration of the risk management mechanism into the system of economic security in companies on the basis of risk-oriented management. The main study method was an online survey of 50 Polish companies in January–April 2021 using a developed questionnaire consisting of 40 questions. According to the results of the expert survey, it is determined that regardless of the type of economic activity of the enterprise, the main goal of introducing risk-oriented management is to preserve assets and increase the efficiency of financial and economic processes. The introduction of risk-oriented management is perceived as a tool to increase the value of the company and ensure the achievement of strategic goals. Fraud is a significant risk to the state of economic security for modern enterprises. To prevent the fact of fraud, taking into account the specifics of the operation of companies, it is suggested to conduct an annual examination. As a result, the suggested procedure should include an audit (audit of financial statements, forensics, transition to international financial reporting standards, audit of systems and processes), assessment (assessment for audit and reporting in accordance with international financial reporting standards, risk management assessment in accordance with international standards, assessment of the effectiveness of economic security), tax analytics (identification of tax risks, analysis of compliance with tax legislation, tax audit), and a due diligence procedure for investment objects.

An Entropic Perspective on Business Relocation in the Context of Sustainable Development

“…In the context of Ukraine's business landscape, corporate relocation has become highly relevant for Ukrainian businessmen, both domestically and internationally. Different challenges appear while companies are trying to relocate their businesses to proceed the optimization of business processes and among them is logistics (Prokopenko et al, 2020;Tananaiko et al, 2023;Khaietska et al, 2023; Semenets-Orlova et al, 2022; Kalina et al, 2022). One of the domestic researchers who has explored the topic of corporate relocation is Melnyk and Leshchuk, 2022. In their study, "Features, Problems, and Incentives for the Relocation of National Production in Times of War," the authors argue that relocating a company allows regions where businesses have relocated to retain and effectively utilize the region's resources, as well as preserve the industrial and labour potential within the country.…”

Fostering innovation through collaborative leadership: developing a novel framework for strategic management

“…At the same time, optimal conditions for effective growth are formed to attract and activate self-organization resources. Synergistic controlling in the synergism model is determined by the functionality of performance evaluation by indicators of achievement of its goals, with the aim of prompt identification of negative deviations (Gavkalova et al, 2022;Kalina et al, 2022). It should be noted that controlling, monitoring, and diagnostics have points of intersection in terms of their tasks and tools.…”

Organizational and legal principles of information security of enterprises in the conditions of martial law in Ukraine

“…Therefore, the specified definition of information security according to the Law of Ukraine No. 537-V is significantly limited for the legal substantiation of the principles of information security of enterprises, especially in the conditions of martial law [21,22].…”