The use of a synergetic approach in assessing the risks of the metallurgical industry

The interest in the problem of uncertainty and risks in business practices is caused by the global trend that reflects constant complicating of interrelations in all the spheres of the modem market economy. Taking into account competition and the occurrence of unforeseen situations, a company’s business activity is impossible without analyzing and evaluating risks, and this determines the timeliness of the selected topic of research. The research is aimed at identifying key risks and their synergistic influence on industrial metallurgy enterprises. The performed complex evaluation of industrial metallurgy enterprises’ risks from the perspective of their external and internal environment allowed forming maps of endogenous and exogenous risks and identifying key risks of the industry. The identified risks are analyzed for synergy based on the expert evaluation. In the course of the research, the authors determined that the same risks may be realized as a result of impact by other risk-forming factors. The occurrence of such risk events increases not only the possibility of realization of other risks but also the strength of their adverse effect on the system as a whole. The composition analysis performed on the basis of the synergistic influence matrix allowed evaluating the synergistic connection for each element of the risk spectrum and identifying external and internal risks with the highest synergistic impact: price risk, sanction risk, and currency risk, as well as risks linked to the obsolescence and physical deterioration of the fixed assets and to penalties and restrictions imposed due to non-compliance with environmental standards. The results of the analysis allow minimizing the synergistic impact of risk-forming factors taking into account the specific intra-industry features of the metallurgical market.