THE MECHANISM FOR MANAGING FINANCIAL AND REPUTATIONAL RISKS IN ENTREPRENEURSHIP AS A FACTOR IN ENSURING COMPETITIVENESS AND THE DEVELOPMENT OF PARTNERSHIP RELATIONS

Анотація

The article has examined the specific features of managing financial and reputational risks. It has been determined that domestic enterprises have had to be prepared to operate under conditions of digital transformation, which has acted as a key innovation in business activities and has enabled modern enterprises to adapt, on the one hand, to dynamically changing endogenous and exogenous environments, and, on the other hand, to a high level of turbulence, where effective risk management has become a factor in enhancing reputation as a basis for building trust among stakeholders (customers, partners, and investors) and ensuring enterprise competitiveness. It has been substantiated that financial and reputational risks have not existed separately and have exerted a combined impact on enterprise performance, the formation of competitive advantages, and the development of partnership relations. The essence, key characteristics, and factors contributing to the emergence of financial and reputational risks have been thoroughly examined, which has allowed for a deeper understanding of their nature and mechanisms of influence on enterprise performance. The main stages of risk management have been identified, adherence to which has increased the resilience of entrepreneurship to unforeseen events and crisis phenomena and has contributed to the development of innovative and environmentally oriented entrepreneurship. Consideration of the proposed stages of managing financial and reputational risks has enabled enterprises to prevent, identify, and avoid risks. It has been established that the integration of the proposed approaches into the risk management system has facilitated the timely identification of threats, their assessment, and minimization, which, in turn, has strengthened the competitive advantages of enterprises and ensured their sustainable long-term development. An integrated mechanism for managing financial and reputational risks has been proposed, based on a dual approach: combining procedures for risk identification, assessment, and monitoring with tools for ensuring transparency, adaptability, trust, and predictability of enterprise activities; as well as enhancing the synergistic effect through managerial corre

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