FORMATION OF A SYSTEM OF KEY PERFORMANCE INDICATORS FOR EFFECTIVE MANAGEMENT OF RISKS IN SALES ACTIVITIES OF ENTERPRISES IN THE PROCESS OF INTERNATIONAL EXPANSION

Abstract

The article examines the theoretical and methodological aspects of forming a system of key performance indicators for effective management of risks in sales activities of enterprises during international expansion. The relevance of the research has been substantiated in conditions of growing uncertainty in the international business environment, intensified competitive struggle in foreign markets, and the necessity to enhance the effectiveness of sales activity management. It has been established that effective risk management is an important prerequisite for ensuring sustainable enterprise development and achieving its strategic objectives during entry into international markets. The essence of sales activities has been generalized and its significance in the international business system has been determined. The features of sales activity management in conditions of international expansion have been examined and the main groups of risks arising during enterprises' entry into foreign markets have been systematized. A classification of sales activity risks has been proposed, which encompasses external-economic, financial-economic, market, logistical, counterparty, organizational-managerial, marketing, and sociocultural risks. This enables comprehensive consideration of uncertainty factors during the management of international activities. The essence of key performance indicators as a tool for assessing the effectiveness of management decisions has been investigated, and their role in the risk management system has been determined. The principles for building a KPI system based on the SMART methodology have been substantiated, and the main requirements for performance indicators in conditions of international activities have been identified, including adaptability, universality, reliability, objectivity, information security, and comprehensiveness. It has been proven that the application of such principles ensures improved quality of assessing the effectiveness of risk management and contributes to the adoption of well-founded management decisions. A risk-oriented system of key performance indicators has been developed for assessing the management of risks in sales activities of enterprises during international expansion. The proposed system provides for establishing interconnections between separate groups of risks and corresponding KPIs, which enables their comprehensive monitoring and timely identification of negative trends. For each group of risks, quantitative assessment indicators have been determined, the procedure for their calculation, and the desired direction of change, which creates an information basis for controlling the effectiveness of risk management.