Business environment and risk-management in business projects

The potential consequences of ineffective risk management can include financial losses, reputational damage, or even legal charges - these factors are making risk management a critically important activity in many organizations. This article discusses theoretical aspects of enterprise risk management and the impact of the economic environment on risk management in entrepreneurship. Unfortunately, in practice, the main tool for risk management is often just the intuition of the manager. However, with the right approach and use of appropriate tools, risk management can become an effective and productive process in entrepreneurship. Research in this area can help organizations build more effective risk management strategies to reduce the cost of risk management processes and increase the sustainability of the organization.