RISK MANAGEMENT OF SMALL AND MEDIUM ENTERPRISES IN VIETNAM IN THE CONTEXT OF THE COVID-19 PANDEMIC

Abstract

The outbreak of the Covid-19 epidemic in 2020-2021 has had a negative impact, which changed all production and business activities of enterprises, especially small and medium enterprises in Vietnam. The weak resilience of the enterprises in Vietnam to the volatile business environment showed the important role of risk management activities for these enterprises. However, the majority of enterprises with disadvantageous characteristics in terms of capital, human resources, technology, etc. are often not knowledgeable about corporate risk management activities. This article aims at systematizing the theoretical basis of corporate risk management activities in general and small and medium enterprises in particular, assess the current status of impacts of Covid-19 on the enterprises in Vietnam, and propose solutions to help their managers improve risk management capacity in the context of the current business environment with many potential adverse factors.