● forecasts of the results should be completed by risk component - managers are focused on the execution of planned profits at risk. The controlling system follows the execution of planned goals. The incentive system supports the achievement of the company goals and ensures the convergence of the goals of owners and managers. The basis for the incentive system are usually corporate goals, which are measured e.g. by EBIT or EBITDA. This approach should be adjusted by measures related to the return on risk. Managers should be interested in information on the risk-taking profitability of their decisions. The prerequisite is the required security of profits generation, which means efficient risk management at least, what requires to limit managers in risk-taking within the company risk tolerance and to secure the expected return on risk capital;
● consideration of risk in the strategy - risk that arises in the globalized business environment cannot be ignored during the strategy development. The strategy execution is exposed to the long-term trends of the world economy development. Hence, the identified opportunities may not occur and the implementation of strategy may be disrupted by risk materialization. Global risk of VUCA word disrupts the creation of a strategy characterized by a high level of certainty. The analysis of the associated risk becomes extremely important and requires stochastic, variant structure of strategy construction. The right risk analysis becomes crucial for success of strategy, because it is the basis for creating variants of the strategic decisions securing the highest return on investment for owners in specific situation at risk. It is necessary to stop linear planning, based on forecasts prepared as extrapolation of the past. Such an approach makes difficult to implement effective tools for supporting the achievement of goals in the future described by the randomness and discontinuity of market trends;
● development of the activity picture by probable variants of volatility - despite the very turbulent environment, enterprises do not change the practice of planning and monitoring the achievement of objectives, based on linear and deterministic prepared plans. The randomness of the environment conditions should encourage decision-makers to project various variants of the risk reaction instruments preventing the deviations of planned values (stochastic approach to planning in the VUCA word). Managers and controllers assume often that the planned value is also the most likely or expected value, although it works often only as the benchmark used to control the plans execution. While it should be considered in the execution of target value the distributions of results, presented in specific ranges specifying both positive and negative deviations from the target as alternative approach to analyzing future performance;
● consideration of risk analysis in decision-making processes - risk analysis is important to assess the enterprise's ability to take risk. The knowledge of the risk exposure and its impact on the company's performance also allows to define the capital requirement in the company. The risk analysis should therefore become an element developing the controlling analyzes and the capital structure. The risk analyses should contain stress tests in order to identify the risks threaten the continuity of company operation. This practice should be carried out in a systematic and continuous manner. It requires to develop the competences, knowledge and tools that allow to fit elements of risk analysis into the management control.
● application of risk adjusted performance measurement in the decision-making process – evaluation of decisions performance should base on return on capital adjusted by risk capital. Management control becomes the central unit that prepares managerial information for decision-making, consideration of expected return for different options that have different risk costs. It is necessary to develop competences for the implementation of RAPM type of measurement and for interpretation of the results by managers.
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