RISK AS A SPECIFIC COMPONENT OF STRATEGIC ENTERPRISES MANAGEMENT IN THE AGRARIAN SECTOR IN THE CURRENT CONDITIONS OF UKRAINE DEVELOPMENT

the specificity of risk in the of agrarian enterprises in the of strategic management. The the risk in the agrarian sector of the economy is probabilistic, reflecting the adoption of managerial decisions and the results of the activity of enterprises of the agrarian of the economy, which depends on the influence, natural and climatic, socio-economic, production and economic conditions. It is revealed that the risks of agrarian enterprises are the most complex and unpredictable. It is shown that at the present stage, for the stable functioning of the agrarian sector in a market economy, the problems of agrarian production adaptation to risks, which are largely due to differences in natural, socio-economic, technical and technological conditions, and the agrian sector development is particular impor-tance.


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License http://creativecommons.org/licenses/by/4.0/ Statement of the problem and its connection with important scientific and practical tasks. As a result of the formation of market relations, the imbalance of the national economy took place, which had a particularly negative effect on the agro-industrial complex as the most complex system, functioning of which occurs under the influence of laws of economic, social and natural-climatic character. At the current stage, in the conditions of the functioning of a competitive market economy, managers of agrarian enterprises need to improve the models and concepts of production management by studying market needs and their structure, as well as developing measures for the operational "adjustment" of the opportunities of agrarian enterprises to rapidly changing environmental conditions, or "environment", as these factors lead to a sharp increase in the value of strategic management in modern agrarian enterprises.
The lack of systemic strategic management, as well as the inadequate implementation of it at the economic level, is one of the reasons for the low efficiency of agrarian production. The need for strategic management in the field of agrarian enterprises is growing in the conditions of an unstable environment, increased competition, a lack of financial resources, a weak infrastructure, service-oriented economy, the critical state of the material and technical base. One of the important areas of strategic management in the country agricultural sector is the consideration of a risks set that affect the efficiency of the enterprises operation. The analysis of the latest publications on the problems. The analysis of economic literature devoted to the problem of risk management [1; 2; 3; 4] shows that among the listed researchers there is no common interpretation of risk. The "Encyclopedia of Financial Risk Management" provides the following definition: "Risk (in economy and business) -uncertainty associated with the ISSN 2312-847X ЕКОНОМІКА ХАРЧОВОЇ ПРОМИСЛОВОСТІ Том 11, Випуск 2/2019 adoption of decisions, the realization of which occurs only over time" [5]. One group of scientists determines risk as "an action image in an obscure, uncertain environment (at random)" and as "the activity of subjects of economic life associated with overcoming uncertainty" [1; 2]. The lack of unambiguous interpretation of risks is explained, mainly, by the complexity and multiplicity of this phenomenon, using it to refer to different economic concepts. The presence of a risk accompanying the activities of a market entity is not a disadvantage of a market economy. Moreover, the absence of risk, the risk of unforeseen and unwanted consequences of its own actions for the enterprise, as a rule, harm the economy, because it undermines its dynamism and efficiency. The risk arising from uncertainty is interpreted differently by different authors. S. Ozhegov defines the risk as: "the possibility of danger," or "the effect of good luck in the hope of a happy result" [6]. V. Sevruk gives the following definition of the risk: "Risk is a situational characteristic of the activity of any manufacturer, reflecting the uncertainty of its outcome and possible adverse consequences in the event of failure" [7, p.72]. According to V. Granoturov [4, p.112], the risk as an economic category has three conditions that coexist: the presence of uncertainty; the need to choose an alternative (it should be borne in mind that refusal of choice is also a variant of choice); opportunity to assess the probability of the implementation of the selected alternatives. According to Yu. Nefedov and M. Bazarov, the risk can be considered as a possible risk of losses, as the probability of an adverse result of the results of the activity. Risk and income (profit) are two interrelated financial categories [8; 9].
Forming of the aims of the research. In the agro-industrial complex, the comprehensive and objective accounting of risks is of fundamental importance, since the dependence of conditions and results of economic activity on accidental, first of all, weather factors is particularly high. Due to the fact that the activities of agricultural producers are objectively associated with a variety of risks, then the scientific substantiation of the theoretical provisions in order to ensure the effective functioning of agrarian enterprises is a very topical issue, which caused the choice of the paper topic. The paper purpose is to clarify the risk specifics in the agrarian enterprises activity in the strategic management context.
Giving an account of the main results and their substantiation. All of the above mentioned definitions have a number of drawbacks. The main thing is that they all associate risk only with the possibility of failure, that is, with the loss of part of their resources, the emergence of additional costs and ultimately obtaining a certain loss. In the author's view, the risk has a constructive effect if its positive impact is not blocked by other factors. In the absence of risk for the decision maker, there is no need to improve the system of organization, management and planning, think about disadvantages, think critically, change for the better. After all, it does not pose a risk, therefore it is inclined to complacency, for creative people and, as a result, to the stop in development. In the case of risk, by contrast, harsh environment conditions, uncertainty make the entrepreneur constantly find new opportunities, means, conditions for preventing possible failures, ways of establishing control over the circumstances, their trends, laws; urge to strive to choose the best option solution, that is, the environment obliges the economic entity to continuously improve.
The agrarian sector relates to high-risk systems and, nevertheless, provides its efficiency under normal conditions, survives in crisis situations, and therefore has a certain internal mechanism of adaptation, which allows to compensate for losses from the risk or reduce its level.
After analyzing various statements about risk as an economic category, we consider it expedient to clarify the definition of risk according to the goals and objectives of the study. In our view, the risk in the agrarian sector is a probabilistic characteristic of the resulting influence of administrative decisions on the target indicators of agrarian enterprises' activity under the influence of natural and climatic, biological, social factors and competitive environment in conditions of uncertainty of economic, political, financial and other spheres.
Risk represents the unity of objective and subjective undertakings. It is generated by objective circumstances that do not depend on the economic entity. Risk exists regardless of whether they are aware of its presence or not, whether it`s taken into account or ignored. The subjective risk side is associated with the choice of the person making the decision, certain alternatives. Managers unequally perceive the same magnitude of risk due to various differences. Each of them has its own advantages, consciously associated with risks, and identifies those that the object of management can be exposed to, decides what level of risk is acceptable for him and seeks ways to reduce or prevent it. The choice of the action in risk situations in one way or another is inherent to the individuality, psychological composition, depends on the motive.
The risk is divided into two types -dynamic and static. Dynamic risk is the risk of unforeseen changes as a result of management decisions or unforeseen changes in market or political circumstances. Such changes can lead to both losses and additional revenues. Static risk is the risk of loss of real assets as a result of damage to property, as well as loss of income due to the inability of the organization. This type of risk can only lead to additional losses [4].
Some authors reduce the definition of "risk management" to a set of measures aimed at eliminating and reducing risks, to mitigating their impact on the results of economic activity [10, p. 79-83]. Under "risk management" V. Kamayev understands the process of identifying the level of uncertainty in the expected result, the adoption and implementation of a decision to minimize the effects of adverse effects on business results of random factors and increase of the chances to raise its efficiency from their rational use [11].
Risk management, as well as management of any activity, involves a set of measures that consists of defining the purpose, choosing a management decision, assessing the risk, determining the outcome of management decisions. Risk can be managed, that is, to use different measures that allow a certain degree of prediction of the occurrence of a risk event and take measures ISSN 2312-847X ЕКОНОМІКА ХАРЧОВОЇ ПРОМИСЛОВОСТІ Том 11, Випуск 2/2019 to reduce the risk. You can avoid the risk by giving up the action connected with the risk. The availability of an adequate model of the control object will ensure the adoption of sound management decisions. Some authors dealing with risk management research argue that the risk management process begins with identifying the expected risks, omitting the stage of determining the objectives of risk management [4; 12]. In our opinion, this is an important omission, since the definition of the purpose of risk management involves the definition of the management object, as well as the designation of the final result (Fig. 1).

Fig. 1. Stages of Risk Management in the Agrarian Sector
* developed by the author on the basis of the data [4; 13; 14] The first step in the organization of risk management is to determine the purpose of the risk or the purpose of a risky operation. The purpose of risk is the result that must be obtained as a result of a risky operation.
The risk analysis includes two components: the identification and assessment of risk. Risk identification is one of the initial stages of risk management. It is necessary to find out how the entrepreneur of the agrarian sector may not receive the profit and what are the possible reasons for it. Therefore, we need a clear understanding of the specifics of the enterprise, the tasks of its activities, methods of work, its position on the market, and others. The risk assessment includes an assessment of the economic and organizational consequences that have already occurred. Risk analysis is carried out taking into account its functions, the object of risk and the determination of permissible limits. The stages of risk analysis involve comparing characteristics and risk probabilities, identifying alternatives in which its value remains acceptable, establishing on this basis the priorities and the range of problems that require priority attention. Risk analysis is usually divided into two types: qualitative and quantitative [13, p. 66-69]. A qualitative analysis is an identification of all possible risks, its main task is to determine the risk factors, the stages of work in which it occurs. Quantitative analysis -numerical determination of the size of specific types of risk, both individually and in aggregate. The basis of the quantitative assessment of any risk should be the relationship between certain sizes of losses and the probability of their occurrence.
Methods for assessing a particular type of risk are subjective and objective. Objective methods of quantitative analysis are based on determining the probability of an event occurring on the basis of calculating the frequency with which it occurs. The subjective method is based on the use of subjective criteria, which are based on different assumptions.
Quantitative risk measure in agrarian production can be determined by the absolute and relative level of losses or economic benefits that are generated when conducting business. In absolute terms, the risk is evaluated in a material or real value or cost value. In relative terms, its value is defined as possible losses or possible additional income attributed to any, basic level of economic activity. In special literature [14], it is proposed to use different methods of quantitative risk analysis. As the most common methods we can distinguish the following: statistical; cost-benefit analysis; expert estimation method; calculation-analytical method. Methodological principles for determining the level and indicators of entrepreneurial risk have already been highlighted in the works of B. Rayzberg, V. Kamayev, S. Hvardovy [15; 16; 17]. However, they are general and do not reflect the specifics of the agrarian sector of the economy.
After qualitative and quantitative risk assessment, it is necessary to make a specific management decision. There are several options for risk management under uncertainty conditions: 1. Avoiding risk. In fact, this implies the stagnation of entrepreneurial activity, since in this case the entrepreneur is not able to obtain additional income, which is his purpose. Rejection of actions related to the risk of suffering certain losses is not possible in the context of extended reproduction. The choice of a strategy to hold the achieved level of profit without additional efforts does not seem to be optimal in the long-term and medium-term planning. Uncertainty as both external market and internal factors can lead to unpredictable consequences for the manufacturer. In the literature [18] it has been stated that in absolute terms, the waiver of risk is practically impossible, since it is an integral part of entrepreneurial activity. Therefore, speaking about risk avoidance, it is necessary to mean not a complete refusal from it, but only that the entrepreneur does not assume a risk above a certain level.
2. Risk taking. In this situation, the company deliberately runs a risk and conducts its activities unless the losses from the consequences of existing risks lead to unreasonable losses. This option also does not seem to be optimal because the probable end resulta negative profit -does not correlate with the purpose of entrepreneurial activity. The main disadvantages in this case are the lack of appropriate analysis of the market and its dynamics, risk factors and flexible response to changing conditions. Sometimes an entrepreneur can adjust the previously made decisions and actions that minimize negative consequences. 3. Risk management, i.e its detection and assessment, as well as the development and implementation of measures to minimize losses or generate additional income. In market relations, it is precisely risk management that should become the main task of an enterprise aimed at achieving success. Some scholars [19; 20] consider that the main strategies of risk management in the literature include: retention, reduction and risk transfer.
Economist G. Kleiner highlights the following risk management strategies [18; 21]: risk avoidance; localization of risk; dissipation of risks; risk compensation.
1. Avoidance of risks implies such behavior of the enterprise management in a risk situation that will lead to the enterprise exit from the zone of making risk decisions by refusing to make a profit in order to exclude the risk of possible losses or by transferring possible risks to another enterprise, even if it the transfer requires some expenses. In practice, risk avoidance involves the rejection of unreliable partners, the rejection of risky projects, risk insurance, and the conclusion of contracts with guarantors. Thus, the listed evasion methods are ways to reduce risk by replacing a market-leading entity that creates a risk to a more reliable one or reducing the risk of nonreceipt of the amount.
2. Localization of risk involves carrying out activities that will result in a change in the market risk subject, that is, the transfer of risk from the entire enterprise to its allocated part or to a separate enterprise. In practice, for the purpose of localization of risk, subsidiaries or special structural units to carry out risky projects are created. Creation of so-called venture companies, i.e organizations whose purpose is to invest in risky scientific and design development is widespread.
3. Diffication of risks implies measures to reduce them, which are diversification of activities and areas of enterprise management, namely, diversification of sales and supply, diversification of investments, division of responsibility between participants of a risk project, distribution of risk in time.
4. Risk compensation means the implementation of measures to protect against risk by increasing the company's stability to the adverse effects of the risk situation through the creation of material and financial reserves, targeted marketing, strategic planning of activities, monitoring of socio-economic and regulatory environment.
Strategic risk management involves the approach to risk not as a static and unchanged factor, but as a managed parameter, the level of which is possible and must be influenced in order to minimize it or compensate it.
Specificity of the risks accompanying production in the agricultural sector is due to the specifics of the sector itself. Features of the agrarian sector as a sector of material production are connected, first of all, with natural and biological factors, the specifics of production. Significant influence on the results of reproduction in the agricultural sector is carried out by natural and climatic conditions (high humidity, severe frosts, hailstones, droughts, floods, etc.). The influence of natural and climatic factors on the economic results is probabilistic. The source of risk for agrarian production is the presence of a large time lag between initial investment costs and output. Time factor leads to the increased market risk.
The analysis of the features of agrarian production made it possible to identify the features of the risks. Market risk is largely due to high price elasticity in the food market. Prices for agrarian products are subject to large fluctuations. First of all, this is due to a reduction in the population's solvent demand for food.
One of the sources of sectoral risk in the agrarian sector is the preservation of the monopolized structure of the industrial sector and the absence of market mechanisms that regulate the price relationships of agricultural, processing, trade, purchasing and resource-making enterprises. As a result of the sharply increased price disparity and the corresponding deterioration in the financial and value proportions of inter-industry exchanges, which accompanied the liberalization of prices, an imbalance between income and expenditure of agricultural enterprises was formed. Also, the source of financial risk in the agrarian sector is the growth of debt capital, unforeseen movement of funds, which threatens the impossibility of payment for all obligations. The presence of risk factors complicates the process of reforming and managing, and the lack of a proper risk assessment and management system contributes to an increase in the proportion of loss-making farms (Fig. 2).
In the agrarian sector, besides the risks specific to any area of the national economy, there are specific causes of the risks appearance: seasonality of production, dependence on weather conditions, natural-biological laws of production and other reasons. Given the specifics of agrarian production, we consider it appropriate to classify the risk factors of the agrarian sector of the economy for such factors of origin and to distinguish two main blocks: external factors and internal factors. External factors include factors that do not depend on enterprise activity, and internal ones depend directly on own actions (Fig. 2) [22].
In order to develop and implement managerial decisions for enterprises in the agrarian sector of the economy, the classification of risk factors for the production of enterprises has been defined, which includes factors that arise regardless of the activity of enterprises -"external" and "internal" factors that arise as a result of the enterprise activity itself. In addition, the following main groups of factors of the risks of agricultural enterprises: natural and climatic, socio-economic, industrial and economic [22] were distinguished by such factors of the production risks of enterprises in the agrarian sector of the economy. Conclusions and prospects of the further investigations. 1. The purpose of ours research was achieved. Analyzing all of the above-mentioned, it can be noted that the risk in the agrarian sector of the economy is a probabilistic magnitude that reflects making of management decisions and the performance of enterprises in the agrarian sector of the economy, which depend on the impact of natural and climatic, socio-economic, production and economic conditions. The process of strategic risk management based on the analysis of the risks themselves, is continuous and carried out by monitoring the development of the situation and the necessary corrective effects. Application of strategic management is a necessity in the conditions where the influence of factors has a negative impact on production in the agrarian sector.
2. The risks of agrarian enterprises are the most complex and not predictable. This is due to the specifics of the agrarian sector itself and, as a consequence, the emergence of types of risks that are not peculiar to other sectors of the national economy in this field. We consider it expedient to note that it is necessary to study and analyze risk factors and seek to manage them, which will help both to improve the financial condition of enterprises and increase the competitiveness of enterprises of the agrarian sector as a whole.
3. At the current stage, for the stable functioning of the agrarian sector in a market economy, the issues of adaptation of agrarian production to risks that are largely associated with differences in the natural, socioeconomic, technical and technological conditions that determine the functioning and development of the agroindustrial sphere are of particular importance.