The article presents companies’ main challenges and opportunities in risk management in global markets. Particular attention was paid to analysing financial and operational risks associated with exchange rate fluctuations, market demand volatility and regulatory restrictions in different countries. In the artisle the various methods of financial hedging to minimise the impact of uncertainty on companies’ operations were considered. We applied such methods as forward contracts and options, as well as adaptive strategies; an integrated approach to risk management, including financial and operational instruments, is essential, allowing companies to respond effectively to unpredictable changes in the international environment, which was adjusted. The study results show that successful risk management increases financial performance stability and strengthens companies’ competitiveness in global markets. Multinational companies will pursue operational hedging only when there is uncertainty in the exchange rate and demand. This paper presents a mathematical model for situations where the fixed costs of starting a plant are low or where exchange rate volatility is high. It also includes results showing the variance of profits with optimal financial hedging. Recommendations for implementing strategic approaches to risk management were proposed. Represented results may be helpful for business leaders and professionals involved in international activities.