ENTERPRISE RISK ANALYSIS IN AN ENGINEERING COMPANY WITH A FOCUS ON CUSTOM MANUFACTURING

@article{69741,
   author = {Kollmann, Jaroslav and Straková, Jarmila and Koraus, Antonín and Palinchak, Mykola and Cernák, Filip},
   article_location = {Vilnius, Litva},
   article_number = {3},
   keywords = {production process; business objectives; business process; process risks; risk prediction; risk analysis; added value},
   language = {eng},
   issn = {2345-0282},
   journal = {Entrepreneurship and Sustainability Issues},
   title = {ENTERPRISE RISK ANALYSIS IN AN ENGINEERING COMPANY WITH A FOCUS ON CUSTOM MANUFACTURING},
   url = {https://jssidoi.org/jesi/article/1072},
   volume = {10},
   year = {2023}
}

TY  - JOUR
ID  - 69741
AU  - Kollmann, Jaroslav - Straková, Jarmila - Koraus, Antonín - Palinchak, Mykola - Cernák, Filip
PY  - 2023
TI  - ENTERPRISE RISK ANALYSIS IN AN ENGINEERING COMPANY WITH A FOCUS ON CUSTOM MANUFACTURING
JF  - Entrepreneurship and Sustainability Issues
VL  - 10
IS  - 3
SP  - 362-382
EP  - 362-382
PB  - Entrepreneurship and Sustainability Center
SN  - 23450282
KW  - production process
KW  - business objectives
KW  - business process
KW  - process risks
KW  - risk prediction
KW  - risk analysis
KW  - added value
UR  - https://jssidoi.org/jesi/article/1072
N2  - The study details the outcomes of a scientific experiment analyzing enterprise risks in business processes. Examining and getting rid of enterprise risks is one of the most important management tools when it comes to reaching corporate goals. The new proposed strategy is based on the idea of process risk as a part of putting business processes or operations into action to get results that add value. The actual solution algorithm consists of the quantification of the difference between the level of risk and the enterprise's cost, the development of added value, and the operating profit. The experiment focused on a medium-sized engineering company that specializes in piece production. The principal outcomes of the technique are the realization that a smaller proportion of value added connected with the process results in a reduced degree of risk that is proportional to the cost ratio of the various production process activities. The hypothesis that manufacturing automation reduces risk has not been confirmed. It is advised that businesses document and review the time and cost components of each process on a regular basis. The outputs obtained from the solution demonstrate the suitability of the proposed process, with the outputs' validity demonstrated by repeating the analytical activities and comparing them to the actual occurrence of process risks identified by the model enterprise's managers during the execution of a real contract. The newly proposed method is expected to be appropriate for mass production.
ER  - 

KOLLMANN, Jaroslav, Jarmila STRAKOVÁ, Antonín KORAUS, Mykola PALINCHAK and Filip CERNÁK. ENTERPRISE RISK ANALYSIS IN AN ENGINEERING COMPANY WITH A FOCUS ON CUSTOM MANUFACTURING. \textit{Entrepreneurship and Sustainability Issues}. Vilnius, Litva: Entrepreneurship and Sustainability Center, 2023, vol.~10, No~3, p.~362-382. ISSN~2345-0282.