Risk Management amidst Digital Transformation of Socio-Economical Ecosystems

Abstract

For successful development, modern socio-economic ecosystems require mastering and using advanced technologies for risk management. The purpose of this study is to analyse the metho­dological problems of identifying risk factors when a business enters a socio-economic ecosystem resulting from changes in the environment characteristics and digitization of the economic space. In this study, the authors use the methodology and applied tools of the operational theory of risk management and systemic economic theory to investigate the risk management and identify its features. It is substantiated that socio-economic ecosystems built on digital multi-stakeholder platforms can be viewed as fundamentally new socio-technological institutions. The paper demonstrates different levels of risk management within the digital ecosystem and the emergence of a new tool  user or consumer control  in risk management. The paper reveals that risk management in modern socio-economic ecosystems is tightly linked to the values of the new generation of consumers: safe environment and overall socially responsible businesses.