|JEL Classification: D 12; G 30; P 43
Khymych Iryna, PhD (Economics), Associate Professor Department of Innovation Activity and Services Management, Ternopil Ivan Puluj National Technical University, Ternopil, Ukraine
Vynnyk Tetiana, PhD (Economics), Associate Professor Department of Economics and Finance, Ternopil Ivan Puluj National Technical University, Ternopil, Ukraine
Konstantiuk Nataliia, PhD (Economics), Associate Professor Department of Economics and Finance, Ternopil Ivan Puluj National Technical University, Ternopil, Ukraine
Tymoshyk Nataliia, PhD (Economics), Associate Professor Department of Economics and Finance, Ternopil Ivan Puluj National Technical University, Ternopil, Ukraine
Yuryk Nataliia, PhD (Economics), Associate Professor Department of Management and Administration, Ternopil Ivan Puluj National Technical University, Ternopil, Ukraine
Enterprise Financial Security as an Anti-Crisis Management Method
Abstract. Introduction. Enterprise financial security is one of the measures to ensure and support financial stability. It is able to act as one of the main anti-crisis management methods and is extremely relevant in the uncertainty of the activities implementation. Management and staff must comply with a number of requirements for ensuring and maintaining their own level of financial capacity for effective enterprise functioning. After all, this factor will promote both its general adaptation, and will allow to carry out own activity now. It will also contribute to the plan formation to ensure the enterprise activities for the future, taking into account the necessary changes based on determining their impact on the development of further events in the business world.
Purpose. His article has been described the essence and features of the «Financial security of the enterprise» concept. The necessity of its application in modern conditions of enterprise activity as one of the most important anti-crisis management methods in conditions of uncertainty has been described.
Results. The financial security of the enterprise is the basis of effective activity of any enterprise in modern business conditions, taking into account the influence of both internal and external factors that take place in the business world as a whole has been determined. It is researched that financial security needs constant updating and improvement. So, it must meet modern requirements for ensuring the stability of the enterprise as an important anti-crisis managing its activities method. The main components of financial security of the enterprise are offered and described, namely: organizational, managerial, and financial-economic.
Conclusions. As a result or consequence of this, the formation, support, and development of the country’s enterprises’ financial security are influenced by many different, both interdependent and independent, internal and external factors. In addition, financial security needs constant provision to achieve a high level of support for the stable and uninterrupted operation of the enterprise under any conditions of its operation.
Keywords: financial security; anti-crisis method; crisis phenomenon; organizational component; management component; financial and economic component; soft skills.
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Received:10 February 2020
How to quote this article?
|Khymych I., Vynnyk T., Konstantiuk N., Tymoshyk N., Yuryk N. (2021). Enterprise Financial Security as an Anti-Crisis Management Method. Modern Economics, 25(2021), 153-159. DOI: https://doi.org/10.31521/modecon.V25(2021)-24.|