DOI: https://doi.org/10.15587/2312-8372.2019.161321

Research of practical aspects of the modeling of the risk tolerance management system of business models of restaurant business enterprise

Olga Chatchenko

Abstract


The object of research is the risk tolerance management process of the business model of a restaurant enterprise. One of the most problematic places in the implementation of the business model of the enterprise is the timely recognition of risk and minimization of its impact on activities. The restaurant business is the most profitable and profitable in the world. Competition in this area increases over time. Risk arises where there is profit and competition, as well as various options related to the likelihood of risk occurring in conditions of uncertainty. Identification and consideration of risk factors is the basis for making management decisions on the timely transformation of the current business model of the enterprise in accordance with changes in the external environment.

It is shown that the risk tolerance management process of a restaurant business enterprise is associated with the difficulty of identifying key aspects of the risk tolerance of its business model and the need to take into account risks arising in the process of creating value. This is due to the peculiarities of the set of risks and the nature of their manifestation in the restaurant business. The restaurant industry is characterized by specific risk groups. These risks are associated with the formation and promotion of value propositions, revenue streams and customer/consumer relationships.

The stages of modeling the risk tolerance management system of the business model of a restaurant enterprise have been determined. These stages include identifying the main risk groups and key value management systems, assessing their parameters and allow to define a set of management decisions to improve the risk tolerance level of the business model of the restaurant business enterprise.

To implement the stages of modeling the risk tolerance management system of the business model of a restaurant business enterprise, an algorithm is proposed based on the theory of fuzzy sets with the ability to assess the compliance of the actual system parameters with their target value.

This ensures the possibility of assessing the actual state of the risk tolerance management system of the enterprise's business model by key business processes. A set of management decisions has been developed that makes it possible for a restaurant enterprise to respond in a timely manner to various kinds of risks in the context of resource and time constraints.


Keywords


risk tolerance of the business model of an enterprise; a set of management decisions; management system modeling

References


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Tarasova, K. I. (2013). Kachestvennyy analiz riskov deyatel'nosti predpriyatiya. Oraldy gylym zharshysy (Ural'skiy nauchnyy vestnik). Ekonomicheskie nauki, 28 (76), 72–80.

Purdy, G. (2010). ISO 31000:2009-Setting a New Standard for Risk Management. Risk Analysis, 30 (6), 881–886. doi: http://doi.org/10.1111/j.1539-6924.2010.01442.x

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Keizer, J. A., Halman, J. I. M. (2007). Diagnosing Risk in Radical Innovation Projects. Research-Technology Management, 50 (5), 30–36. doi: http://doi.org/10.1080/08956308.2007.11657459

Zadeh, L. A. (1965). Fuzzy sets. Information and Control, 8 (3), 338–353. doi: http://doi.org/10.1016/s0019-9958(65)90241-x

Saaty, T. L. (2004). Decision making — the Analytic Hierarchy and Network Processes (AHP/ANP). Journal of Systems Science and Systems Engineering, 13 (1), 1–35. doi: http://doi.org/10.1007/s11518-006-0151-5

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Riid, A., Rüstern, Е. (2003). Transparent Fuzzy Systems in Modelling and Control. Interpretability Issues in Fuzzy Modeling, 128, 452–476. doi: http://doi.org/10.1007/978-3-540-37057-4_19


GOST Style Citations


Turko M. O. Teoretychni osnovy upravlinnia ryzykamy pidpryiemstva // Ekonomika pidpryiemstva ta upravlinnia vyrobnytstvom. 2007. Issue 5. P. 85–89.

Tarasova K. I. Kachestvennyy analiz riskov deyatel'nosti predpriyatiya // Oraldy gylym zharshysy (Ural'skiy nauchnyy vestnik). Ekonomicheskie nauki. 2013. Issue 28 (76). P. 72–80.

Purdy G. ISO 31000:2009-Setting a New Standard for Risk Management // Risk Analysis. 2010. Vol. 30, Issue 6. P. 881–886. doi: http://doi.org/10.1111/j.1539-6924.2010.01442.x 

Kravchenko V. Rozrobka suchasnoho standartu z upravlinnia ryzykamy – vazhlyvyi chynnyk pidvyshchennia efektyvnosti pidpryiemnytskoi diialnosti v Ukraini // Teoretychni ta prykladni pytannia ekonomiky. 2008. Issue 17. P. 159–166.

Hrosul V. A., Balamut H. S. Otsinka ryzykostiikosti v systemi adaptatsiinoho upravlinnia rozvytkom torhovelnoho pidpryiemstva // Molodyi vchenyi. 2016. Issue 12 (39). P. 727–729.

Hoyt R. E., Liebenberg A. P. The Value of Enterprise Risk Management // Journal of Risk and Insurance. 2011. Vol. 78, Issue 4. P. 795–822. doi: http://doi.org/10.1111/j.1539-6975.2011.01413.x 

Kopytina M. V. Adaptive structure of project risks management system // Eastern-European Journal of Enterprise Technologies. 2013. Vol. 1, Issue 3 (61). P. 15–19. URL: http://journals.uran.ua/eejet/article/view/9135

Taran Y., Boer H., Lindberg P. Incorporating Enterprise Risk Management in the Business Model Innovation Process // Journal of Business Models. 2014. Vol. 1, Issue 1. Р. 38–60.

Chesbrough H. Business Model Innovation: Opportunities and Barriers // Long Range Planning. 2010. Vol. 43, Issue 2-3. P. 354–363. doi: http://doi.org/10.1016/j.lrp.2009.07.010 

Rishchuk L. I., Kushlyk O. Yu. Pidkhid shchodo rozrobky prohramy upravlinnia ryzykamy na pidpryiemstvi // Problemy i perspektyvy rozvytku pidpryiemnytstva. 2015. Vol. 2, Issue 1 (8). P. 77–82.

Zubova L. V. Opredelenie riskoustoychivosti predprinimatel'skikh resheniy // Biznes v zakone. Ekonomiko-yuridicheskiy zhurnal. 2015. Issue 5. P. 215–218.

Fielt E. Conceptualising Business Models: Definitions // Frameworks and Classifications. 2013. Issue 1 (1). Р. 85–105.

Artyshchuk I. V. Upravlinnia ryzykozakhyshchenistiu torhovelnoho pidpryiemstva // Zbirnyk naukovykh prats Natsionalnoho lisotekhnichnoho universytetu Ukrainy. 2011. Issue 21.5. P. 153–159.

Keizer J. A., Halman J. I. M. Diagnosing Risk in Radical Innovation Projects // Research-Technology Management. 2007. Vol. 50, Issue 5. P. 30–36. doi: http://doi.org/10.1080/08956308.2007.11657459 

Zadeh L. A. Fuzzy sets // Information and Control. 1965. Vol. 8, Issue 3. P. 338–353. doi: http://doi.org/10.1016/s0019-9958(65)90241-x 

Saaty T. L. Decision making — the Analytic Hierarchy and Network Processes (AHP/ANP) // Journal of Systems Science and Systems Engineering. 2004. Vol. 13, Issue 1. P. 1–35. doi: http://doi.org/10.1007/s11518-006-0151-5 

Hrosul V. A., Ivanova T. P. Praktychni aspekty upravlinnia yakistiu pry formuvanni biznes-modeli pidpryiemstva restorannoho hospodarstva // Visnyk NTU «KhPI». Seriia: Mekhaniko-tekhnolohichni systemy ta kompleksy. 2016. Issue 7 (1179). P. 132–137.

Riid A., Rüstern Е. Transparent Fuzzy Systems in Modelling and Control // Interpretability Issues in Fuzzy Modeling. 2003. Vol. 128. P. 452–476. doi: http://doi.org/10.1007/978-3-540-37057-4_19 







Copyright (c) 2019 Olga Chatchenko

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ISSN (print) 2226-3780, ISSN (on-line) 2312-8372