2020 1(38)19

Social Security Risk Management as a Factor in the Sustainable Development of the Industrial Economy

Inesіa Mikhnо
Phd in Economic Sciences
ORCID https://orcid.org/0000-0003-3661-1965

Private institution of higher education “International European University”, Kiev;
Viktor Koval
Doctor of Economic Sciences, professor
ORCID https://orcid.org/0000-0003-2562-4373
Odesa Trade and Economic Institute;
Alla Navolokina
Phd in Economic Sciences
ORCID https://orcid.org/0000-0003-1711-6202
Private institution of higher education “International European University”, Kiev

Citation Format
Mikhno I. S., Koval V. V., Navolokina A. S. (2020). Social Security Risk Management as a Factor in the Sustainable Development of the Industrial Economy. Visnyk ekonomichnoi nauky Ukrainy, 1 (38), рр. 148-153. doi: https://doi.org/10.37405/1729-7206.2020.1(38).148-153


The current conditions of instability and the need for constant adjustment of economic development strategies have led to an increase in the likelihood of unpredictable results that can adversely affect the enterprise. In this regard, situations arise that can cause losses and create unforeseen dangers. The social sphere, constitutes the country’s labor potential in Ukraine, is one of the least protected and prone to risk. Activities to ensure social security is an element of a complex system – state policy as a whole and its segment such as ensuring national security, involves the development of measures and the implementation of actions aimed at ensuring and protecting the rights of individuals and social groups. The article analyzes the possible risks in the heavy industry that may violate social security, gives recommendations, quantitative methods for calculating risks. The current problems in industry (low mobility and the high cost of changing technology) and the influence of external and internal factors that increase the likelihood of negative and emergency situations on effective economic indicators are considered. The current state of social security in Ukraine is analyzed and incentives for the development and implementation of safer technological systems and risk reduction in the industry are identified.
It is revealed that attracting investment in the industry, which will increase the product line, improve product quality and working conditions, transparent use of funds can significantly reduce the risks of changing technologies and cheaper products, and an increase in wages and social guarantees will positively affect the preservation of labor potential countries.

risk management, risk, labor potential, social security, industrial economics.


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