Features of Formation and Development of Possessory Risk Management Systems of Organization in the Russian Economy
The study investigates the impact of the ongoing financial crisis, started in the 2nd half of 2014, on marketing budgets spent by Fast-moving consumer goods companies. In these conditions, special importance is given to efficient possessory risk management systems. The main objective for establishing and developing possessory risk management systems for FMCG companies in a crisis is to analyze the data relating to the external environment and consumer behavior in a crisis. Another important objective for possessory risk management systems of FMCG companies is to develop measures and mechanisms to maintain and stimulate sales. In this regard, analysis of risks and threats which consumers define as the main reasons affecting their level of consumption become important. It is obvious that in crisis conditions the effective risk management systems responsible for development and implementation of strategies for consumer demand stimulation, as well as the identification, analysis, assessment and management of other types of risks of economic security will be the key to sustainability of a company. In terms of financial and economic crisis, the problem of forming and developing possessory risk management systems becomes critical not only in the context of management models of FMCG companies, but for all the companies operating in other sectors of the Russian economy. This study attempts to analyze the specifics of formation and development of company possessory risk management systems. In the modern economy, special importance among all the types of owner’s risks has the risk of reduction in consumer activity. This type of risk is common not only for the consumer goods trade. Study of consumer activity decline is especially important for Russia due to domestic market of consumer goods being still in the development stage, despite its significant growth. In this regard, it is especially important to form and develop possessory risk management systems for FMCG companies. The authors offer their own interpretation of the process of forming and developing possessory risk management systems within owner’s management models of FMCG companies as well as in Russian economy in general. Proposed methods and mechanisms of problem analysis of formation and development of possessory risk management systems in FMCG companies and the results received can be helpful for researchers interested in problems of consumer goods market development in Russia and overseas.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1130975Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 947
 Spencer Pickett K. H. (2012). The Internal Auditing Handbook. New York: John Wiley & Sons Pub.,
 Emilia V., Ghiţă M., Popescu M., (2014) Control and internal audit. Bucharest: Bren Pub. House,
 Hanley M. (2013) Integrated Risk Management. London: FT books.
 Hanley M. (2014) Economist Intelligence Unit, Enterprise Risk Management – implementing new solutions. London: Economist.
 Larkin J. (2012) Strategic Reputation Risk Management. London: Palgrave Macmillan.
 Lam J. (2013) Enterprise Risk Management – from incentives to controls. London: John Wiley.
 PWC report “Russia’s current economic downturn: a 360° view’’, 2015 - http://www.pwc.ru/ru/publications.html (accessed on 15/10/2016)
 Infoline Research "Russian consumer market and FMCG retail chains rating: 2014-2015" http://infoline.spb.ru (accessed on 15/10/2016)
 Analytical Center “Vi’’, Russian media market: trends, analytics. - http://ac.vi.ru (accessed on 15/09/2016)
 Rosstat – www.gks.ru (accessed on 15/09/2016)