<abstract xmlns="http://www.w3.org/1999/xhtml"><p> Modern scientific research in the field of risk management is mainly devoted to general questions of the market theory of risk management, including qualitative risk analysis, protection of the rights of property owners and the study of the problems of selection of the best strategies for profitable market investments. The development of risk management mechanisms for small- and medium-sized businesses in Lithuania compared to other European markets is happening too slowly. The situation is aggravated by unstable situation of the field itself, corrupted officials and the lack of advanced control strategies for internal and external risk management in organisations. All these factors confirm the need to develop new management tools in the field of risk management at such enterprises. The aim of this article is to develop the mechanism of risk management of small and medium-sized businesses and justify it scientifically. The methodology of the research is based on the principles of objectivity using methods of comparative, logical, mathematical statistics and system-structural analysis.</p></abstract>

Modern scientific research in the field of risk management is mainly devoted to general questions of the market theory of risk management, including qualitative risk analysis, protection of the rights of property owners and the study of the problems of selection of the best strategies for profitable market investments. The development of risk management mechanisms for small- and medium-sized businesses in Lithuania compared to other European markets is happening too slowly. The situation is aggravated by unstable situation of the field itself, corrupted officials and the lack of advanced control strategies for internal and external risk management in organisations. All these factors confirm the need to develop new management tools in the field of risk management at such enterprises. The aim of this article is to develop the mechanism of risk management of small and medium-sized businesses and justify it scientifically. The methodology of the research is based on the principles of objectivity using methods of comparative, logical, mathematical statistics and system-structural analysis.

Theoretical Aspects And Development Of The Mechanism For Risk Management In Small- And Medium-Sized Business

Mykolas Romeris University, Insurance and risk management institute, Lithuania

Economics and Culture

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Modern scientific research in the field of risk management is mainly devoted to general questions of the market theory of risk management, including...

Theoretical Aspects And Development Of The Mechanism For Risk Management In Small- And Medium-Sized Business

Published Online: Jul 06, 2016

Page range: 104 - 113

DOI: https://doi.org/10.1515/jec-2016-0013

Keywords
risk management, small and medium-sized businesses, the project process

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Theoretical Aspects And Development Of The Mechanism For Risk Management In Small- And Medium-Sized Business

Published Online: Jul 06, 2016

Page range: 104 - 113

DOI: https://doi.org/10.1515/jec-2016-0013

Keywordsrisk management, small and medium-sized businesses, the project process

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
risk management, small and medium-sized businesses, the project process