| Abstract: | In this master’s thesis, we examined risk management in the selected manufacturing company ABC, d. o. o., which operates in the metal industry and is engaged in the design and production of equipment for the food industry. The company is classified as a small enterprise, is privately owned, and employs approximately 50 people. The purpose of the research was to determine which risks are most significant to the company, how effectively it manages them, and to what extent its risk management approach is systematic. The research was based on a combination of an analysis of internal documentation, interviews of employees, and a survey questionnaire distributed to employees in various departments of the company. The results showed that ABC, d. o. o., primarily identifies non-financial risks, among which operational, strategic, personnel, and e-business risks stand out. The analysis confirmed that the company has established a systematic approach to risk management based on the requirements of the ISO 9001 standard. The system includes risk identification, assessment, treatment, and monitoring, and uses tools such as SWOT analysis, a risk register, and a probability-and-impact matrix. But the company primarily employs reactive risk management strategies, and the system is largely oriented toward day-to-day operations. The system is based primarily on employees’ experience, while the strategic aspect of risk management has not yet been fully developed. In the sales process as well, risks are identified on an ongoing basis, primarily based on experience and regular meetings, which enable rapid responses; however, the measures are not formalised and are not oriented toward long-term solutions. Based on the findings, we prepared recommendations for improvement, including the introduction of key performance indicators (KPIs), the formalization of the controlling function, the implementation of a Customer Relationship Management (CRM) system, and the digitalization of inventory and project monitoring processes. Our study confirmed most of the proposed hypotheses. Hypothesis H1, stating that “ABC, d. o. o., primarily identifies financial risks,” was not confirmed, as non-financial risks such as personnel, operational, strategic, and cyber risks prevail in the company. Sub-hypothesis H1.1, stating that “In ABC, d. o. o., credit risk prevails among financial risks,” was also not confirmed, as cost and liquidity risks stand out among financial risks, while credit risk is not significantly present. Hypothesis H2, stating that “ABC, d. o. o., has established a systematic approach to risk management,” was confirmed, since the company has a formalized risk management process that includes identification, assessment, treatment, and monitoring of risks and is in accordance with the requirements of the ISO 9001 standard. Sub-hypothesis H2.1, stating that “In ABC, d. o. o., a systematic approach to risk management is established in the sales process,” was confirmed, as the approach in sales is structured but lacks full formalization and a separate risk register. Hypotheses H3, stating that “ABC, d. o. o., uses reactive strategies in risk management,” and H3.1, stating that “In ABC, d. o. o., reactive risk management strategies are used in the sales process,” were confirmed, as the company, both at the general level and within the sales process, mostly addresses risks on an ongoing basis and adopts measures after their occurrence. The research showed that ABC, d. o. o., manages risks successfully, although it mainly relies on reactive strategies. The master’s thesis contributes to a better understanding of risk analysis and risk management in micro, small, and medium-sized enterprises and highlights the importance of a systematic approach and continuous improvement. Due to the lack of detailed empirical research on the actual process of risk identification in small and medium enterprises, there is a need for further research in this field. |
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