Business Processes And Risk Factors
Business Processes And Risk Factors

Summary/Abstract: This paper analyses the relationships between business processes and risk in a unique company management system under conditions of uncertainty. Business processes include the well-known operational processes and to them directly related traditional management processes. However, in a dynamic, complex, and discontinuous business environment, a company cannot achieve business excellence that is necessary for it to gain and maintain competitive advantage. Therefore, management processes need to get a wider dimension and include management processes that precede the traditional management processes and factual operational processes, i.e. management processes at the company design and formation stage. These are the management processes of acquiring stakeholders, and creating a market model and a business model, which provide a framework for successful operational processes and traditional management processes. Identification of risk factors and establishment of risk management in these management processes are crucial for the overall business excellence of modern companies.

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