МИНИСТЕРСТВО ТРАНСПОРТА  

РОССИЙСКОЙ ФЕДЕРАЦИИ 

 

ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ АВТОНОМНОЕ 

ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО 

ОБРАЗОВАНИЯ 

«РОССИЙСКИЙ УНИВЕРСИТЕТ ТРАНСПОРТА» 

 

Институт экономики и финансов 

 

Кафедра «Финансы и кредит» 

 
 
 
 
 

Финансовая среда предпринимательства, предпринимательские 

риски 

 
 

  Учебное пособие 

 
 
 
 
 
 
 
 

 Москва – 2020

 

МИНИСТЕРСТВО ТРАНСПОРТА  

РОССИЙСКОЙ ФЕДЕРАЦИИ 

 

ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ АВТОНОМНОЕ 

ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО 

ОБРАЗОВАНИЯ 

«РОССИЙСКИЙ УНИВЕРСИТЕТ ТРАНСПОРТА» 

 

Институт экономики и финансов 

 

Кафедра «Финансы и кредит» 

 
 
 
 

Финансовая среда предпринимательства, предпринимательские 

риски 

 
 

Учебное пособие 

для студентов направления «Менеджмент» 
направленности «Управление бизнесом» 

 
 
 
 
 
 
 

Москва – 2020 

УДК 42:334 

Ф 59 

 

Финансовая среда предпринимательства, предпринимательские 
риски: Учебное пособие. / Межох З.П., И.П. Акимова, В.М. 
Кайдаш, В.С. Коцоева. – М.: РУТ (МИИТ), 2020.  – 55 с. 
 
 
Учебное пособие предназначено для магистерского 

направления 
«Менеджмент», 
направленность 
«Управление 

бизнесом» Российского университета транспорта. Пособие 
содержит в себе основу теоретических знаний по дисциплине 
«Финансовая среда предпринимательства, предпринимательские 
риски» на английском языке, а также может быть предназначено 
для курсов повышения квалификации.  
 
 
       Рецензенты:  к.э.н., доцент кафедры «Экономика и          
                              управление на транспорте» РУТ (МИИТ)   
                              Данилина М.Г. 
                              Руководитель Центра изучения    
                              Иностранных языков Дипломатической  
                              Академии МИД России  
                              Семенова О.В.     

 
 

 
 
                               © РУТ (МИИТ), 2020 

 
 

Dear students! 
We are beginning to study the course 
Financial environment of business [FEB] 
Our course will consist of 
- Lectures 
- Classes 
- Term paper 
- Final examination  
Here, in this lecture hall   
I will introduce to you theoretical part of the course.  
The main parts of course are presented on figure 1.1. 
On figure 1.1 we can see the definition of FEB and structure 

of the course-or it’s main components. 

Financial environment of entrepreneurship can be defined as 

a set of economic agents and forces operating outside the limits 
of the enterprise (firm) and affecting the ability of the financial 
manager to invest money and earn income. 

This definition is given to us by the science called riskology. 
As we can see: 
FEB 
consists 
of 
two 
parts-Microenvironment 
and 

Macroenvironment. 

In turn, each of the components, also falls into several parts. 
In the beginning of our lecture, let’s turn our attention to 

Microenvironment… 
 
 

Financial environment of entrepreneurship can be defined 
as a set of economic agents and forces operating outside the 
limits of the enterprise (firm) and affecting the ability of the 

financial manager to invest money and earn income

Microenvironment

Financial environment of business

Macroenvironment

Financial environment of business

Figure 1.1

We see that such factors as 
- Suppliers 
- Buyers (customers) 
- Competitors 
- Contact audience 
- Intermediaries   
 
Have significant impact on Microenvironment of business 

(Fig 1.2)  
  

 

 

 

 

 

 

 

 

 

 
 

Microenvironment of business

Suppliers

Intermediaries

Buyers (customers)
Contact audience

Competitors

Fig. 1.2

Let’s consider the influence of suppliers in more detail. 

Firstly – the definition of suppliers:  

Suppliers are legal entities and individuals who provide 

market players and their competitors with inventory necessary 
for the future production of finished goods.  

Let’s see how changes in the supplier environment affect the 

financial activities of business. We see the whole chains of 
influence. 

So, price increases for suppliers cause price increases for 

finished products, which in turn lead to negative consequences 
for suppliers. 

Then, shortage in stock and irregularities in supply and 

strikes cause disruption of schedule of shipment of finished 
products from enterprise, which in turn also lead to negative 
consequences for suppliers. 

As for the negative consequences, they can be Short-term 

consequences and Long-term consequences 

Short-term consequences – lead to decrease or loss of 

opportunities of finished products sales 

Long-term consequences - lead to lack of consumer 

confidence  
 

Effect (influence) of changes of suppliers on the financial 

activities of business (enterprises)  

Suppliers are legal entities and individuals who provide 

market players and their competitors with inventory 
necessary for the future production of finished goods

Price 

increases 

for supplies

Shortage in 

stock

Irregularities 

in supply 

Strikes, 

etc.

Price increases for 
finished products 

Violation of the schedule 
of shipment of finished 
products from enterprise  

Short-term 

consequences

Negative 

consequences 
for suppliers

Long-term 

consequences

Decrease or loss of 

opportunities of 
finished products 

sales 

Lack of consumer 

confidence

Suppliers

Fig. 1.3

We have discussed in more detail influence of suppliers for 

business –risks, and further we will pay our attention to the next 
part of Microenvironment, namely – intermediaries. Riskology 
gives the following definition of this factor: 

The agents are the organizations which help the firm in 

promoting, distributing and marketing finished products among 
customers, thus affecting the amount of revenue generated by 
the firm. 

There are four groups of Intermediaries: Dealers (resellers), 

logistics 
brokers, 
Marketing 
intermediaries, 
financial 

intermediaries. Let’s give a description of each group: 

1. Dealers (resellers)- They are organizations which help 

enterprises to find customers and sell finished products directly 
to them 

2. Logistics brokers can be - Warehouse organizations and 

Transport organizations 

2.1 Warehouse organizations - They provide consolidation  

and safe keeping of finished products on the way to the 
destination 

2.2 Transport organizations - They move stocks of finished 

products from one place to another  

3. Marketing intermediaries - Market research firms, 

consulting firms, various advertising agencies  

4. Financial intermediaries - Banks, credit institutions, 

insurance companies 
 
 

Intermediaries

The agents are the organizations which help the firm 

in promoting, distributing and marketing finished 

products among customers, thus affecting the amount 

of revenue generated by the firm

Dealers 
(resellers)

Logistics 
brokers

Marketing 

intermediaries

Warehouse 
organizations

Transport 

organizations

They are 

organizations 
which help 

enterprises to find 
customers and sell 
finished products 
directly to them

Market research 

firms, 

consulting 

firms, various 

advertising 
agencies 

They provide consolidation  and 
preservation of finished products 

on the way to the destination

They move stocks of 
finished products from 

one place to another 

Financial 

intermediaries

Banks, credit institutions, 

insurance companies

Fig. 1.4