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Management activities in the modern capitalistic world are closely connected with different kinds of risks. For successful performance in a market economy, managers must be addressed in the innovation, development and promotion, and the capture of new markets – but all these activities increase risks. Therefore, managers need to properly assess the risk and be able to manage risk to achieve more effective results in the market.
Risk – is an activity dealing with an uncertainty in the situation of the inevitable choice, during which it is possible to quantitatively and qualitatively assess the likelihood of achieving the intended result, failures and deviations from the target. Dealing with risks means a process associated with the identification, risk analysis and decision-making, which include maximizing the positive and minimizing the adverse effects of the onset of risk events. Risk management is a system of management and economic relations arising in the course of this administration, including a strategy and tactics for risk management.

1. Definition of risks and their classification
In general, the risk – is a possibility of occurrence of some adverse events, entailing the loss of various kinds: for example, loss of property, income below the expected level, etc. Management activity provides a certain degree of risk, which must be assumed by the manager, who should identify the nature and extent of this risk.
In business under “risk” is commonly understood a probability (threat)of lost of part of its enterprise’s resources, shortfalls in revenues or the appearance of additional costs as a result of certain production and financial activities.
The phenomenon of “risk” include the following elements, that constitutes its essence:
– the possibility of deviation from the intended purpose for which is the chosen alternative;
– probability of achieving the desired result;
– lack of certainty in achieving the goal;
– the possibility of material, moral and other losses related to the implementation of selected alternatives under uncertainty.
The existence of risk is directly related to uncertainty. Uncertainty implies the existence of factors in which the results of actions are not deterministic, but the degree of possible influence of these factors on the results is unknown, it is incomplete or inaccurate information about the conditions of the project. There are three types of situations:
1. situation of certainty, when the choice of a concrete plan of action from the set is always possible leads to the familiar, like determining the outcome;
2. risky situation, in which the choice of a concrete plan of action, generally speaking, may lead to any outcome of their fixed sets. However, for each alternative are known probabilities of the possible outcome, and Each alternative is characterized by a finite set of probability;
3. situation of uncertainty characterized by the fact that the choice of a particular course of action could lead to any outcome of a fixed set of outcomes, but the likelihood of their implementation are unknown. (International Organization for Standardization, 2009)
Here we can distinguish two cases: either the probability is unknown due to lack of necessary statistical information either on the objective probabilities do not talk sense. Thus the situation of risk is characterized by the following features:
– presence of uncertainty;
– the need for the selection of alternatives of action (in this case must be borne in mind that non-selection is also a kind of choice);
– opportunity to assess the probability of the selected alternative, because in a situation of uncertainty the probability of occurrence of events in principle is not installed.
The situation of risk is a kind of uncertainty, when the onset of events and can probably be certain. In other words, the risk is an uncertainty, is something that can not be assessed.
In the normal course of business entrepreneurs are faced with a set of different types of risks that are different from each other in time and place of occurrence, combined internal and external factors affecting their level and, consequently, by the method of analysis and the methods of description.
As a rule, all kinds of risks are interrelated and affect the activity of the entrepreneur. The change of one type of risk can cause a change in the majority of the rest.
Risk classification means the systematization of the many risks on the basis of certain attributes and criteria to combine a subset of risks in the more general terms.