Abstract:

The consequences of the COVID-19 pandemic have highlighted increased resilience and prevention in the enterprise. As negative events become more frequent and less predictable, there is a growing need for greater preparedness and the associated assessment of complex risks in the enterprise. According to the results of the Institute of Risk Management, every year the interest in risk management in any government, public, and business sphere is gradually growing internationally. Their study suggests that the impact of the COVID-19 pandemic has shown that risk management frameworks, processes, and standards are necessary but insufficient to ensure that organizations manage their risks reliably and meet their strategic objectives. The element of behavior and personal attitude to risks is missing. These statements are also confirmed by the results of the Federation of European Risk Management Associations (FERMA) study, The Role of Risk Management in Corporate Resilience (2021), that three-quarters of risk managers expect more emphasis shortly to focus on improving risk culture and deeper integration of resilience efforts into the strategy process. At the same time, risk managers emphasize the need to educate the Board room about the value of risk in providing meaningful risk reporting, performing scenario analyses, etc. to improve decision-making. From the above statements, there is a need to create and promote a risk culture through the education of managers.

The paper aims to present the risk culture framework in the form of education for managers in Slovakia. Part of the aim is to create training for managers in Slovakia so that they can better understand their own risk culture and provide them with several practical techniques and tools. The starting point of the proposed risk culture framework and training are various concepts, studies, and frameworks resulting from the experience of various institutions, which provides advice on risk management with a unique combination of academic excellence and practical relevance.

Methods are used to meet the set aim, e.g. analysis of relevant sources, studies, surveys, authors' own experience, comparison of current knowledge and approaches, research and assessment of other knowledge from experts from practice and academia, synthesis and modeling of the proposed of the training in the field of risk culture.

Board members, process managers, risk professionals, HR professionals, regulators, and academics will benefit from the proposed training. The contribution of the paper is to expand the portfolio of frameworks of risk culture, and forms of education for managers supporting the promotion of risk culture in enterprises even in the conditions of the Slovak Republic. Risk culture is currently an evolving field. The authors of the article believe that they will find the understanding and desire to learn from managers in Slovakia as well, to gain experience in increasing prevention, and thus adapt to current global trends.

Keywords:

Risks, risk culture, education for managers, training, prevention.