Risk management in the business management process of the science entities of the AZCUBA Group

Abstract

Objective: Design a model for risk management that contributes to the improvement of the business management process of the science entities of the AZCUBA Business Group.

Materials and methods: The proposed model was based on the integration of induction-deduction methods in order to establish the hypothesis and formulate strategies for the analysis and treatment of risks; the historical-logical made possible the analysis of the background and evolution of the topic through a critical assessment of documentary research; The analysis and synthesis enabled the appropriate selection of stages, phases, steps and variables; the calculation of indicators based on the assessment of the methodological instruments studied, among others.

Results: The proposal made, in the entity where the research is carried out, constitutes a tool in the risk management process for decision making in its interrelation with the business management process; from a functional approach of horizontal, vertical alignment and integration. With the validation of the proposed model, the feasibility of its application is corroborated; it serves as a basis for learning and perfecting said process and the management of new development alternatives for scientific-technical products and services.

Conclusions: Risk management develops bases for innovation in business management. The application of models to manage risks enhances the capabilities of creating value for the organization and business continuity.