Business risk management at transport companies: Lithuanian study case

Abstract

The article deals with the concept of risk of operation of transport enterprises, presents the types of risks, and analyzes business risk management. From the scientific point of view, the risk issues have not been sufficiently well investigated so far. In order to successfully manage or control any transport activity, it is necessary to determine the degree and extent of risk. The article defines the terms “risk”, “risk management” and other relevant concepts in this field, that risk management is one of the modern working methods that are important not only for transport companies but also for other organizations and other companies. The paper presents an analysis of the results of the empirical research, identifies the main risk reduction measures, and presents the essential risk reduction of the risks – the implementation of the Lean System and the adaptation of the Outsourcing system to the transport company.