PSYCOLOGICAL FACTORS OF RISKS MANAGEMENT IN BUSINESS

Abstract

In the article there considered the theoretical aspects of studying the problem of risk: risk perception, risk appetite, readiness to take risks. One of the most important competitive advantages in business is a fast reaction to changes regarding the actions of competitors or lawmaking of government bodies. It is important to anticipate future scenarios and determine the hazards boundaries in business risks management. Risk management is the process of minimizing of losses that an individual or a company may suffer because of uncontrollable events, actions.

Psychological factors are important in business risks management. The same people in different social circumstances communicate with the risk differently. The nature, frequency and burden of risk consequences depend not only on the efforts on the level of the business participants but also on other social levels. Moreover, the very risk spectrum is of threat for people on different social levels, significantly differently.

Theoretical aspects of the studying the problem of risks include: interpretation of the concept of «risk», peculiarities of risks perception, risk appetite, willingness and readiness to risk in different professional groups and others.

In scientific literature there are different interpretations of the concept of «risk», including sometimes different meanings: possible risk of an unfavorable outcome; adverse or uncertain events; reference to activity because of absence of confidence in its achievement; choice from a variety of alternatives; measure of possible effects that appear at some moment in the future and so on.

The results of empirical research of risk appetite in different occupational groups (businessmen, managers, students) are presented.