scholarly journals ANTI-CRISIS MANAGEMENT IN BUSINESS FINANCIAL SECURITY ENSURING

2021 ◽  
Vol 2021 (1) ◽  
Author(s):  
T. Zhukova ◽  
I. Basanets ◽  
I. Plikus
Keyword(s):  
Crisis Management ◽  
Economic Crisis ◽  
Business Processes ◽  
Stable State ◽  
Financial Policy ◽  
Financial Security ◽  
Theoretical Approaches ◽  
Main Thing ◽  
Definition Of ◽  
The Impact

The problem of effective anti-crisis management is of crucial importance for ensuring the overall level of development of Ukraine, surmounting the financial and economic crisis, as well as creating an appropriate level of national security. In today's world with its unstable economic, political and legal dimension an entity is exposed to the external environment. The impact of the economic crisis in the world, including Ukraine, has led to the fact that most companies are close to financial crisis and some of them have already gone bankrupt. The article presents the data showing that companies are in crisis and need anti-crisis management. It is reasoned that anti-crisis management as a mechanism of adaptive regulation of business processes of enterprises is relevant and in demand both in science and in practice; the program of anti-crisis measures in case of its successful practical application can help the companies being on the brick of bankruptcy. Theoretical approaches to the formation of anti-crisis management of enterprises are considered, further research was given to the problems of developing a system of anti-crisis management of the enterprise and the development of anti-crisis financial policy. It is proved that crisis management is aimed at adapting the enterprises' activities to the constantly changing environmental conditions as well as to extract benefits from new opportunities. At the same time, the main thing in the implementation of such management is the rejection of unpromising areas of activity and the definition of the most promising ways of the organization activity ensuring its development. After analysing the latest research on ensuring the stable state and bringing the company out of the crisis, the main approaches to preventing and overcoming bankruptcy in enterprises have been identified. For effective management the measures that will clearly assess the threat and respond to management staff are proposed in the article. The causes and factors that accompany the emergence of a crisis at the enterprise are studied. The activity of Ukrainian enterprises in the conditions of crisis is analyses and a set of measures to improve crisis management for the financial security of the company is created.

scholarly journals Methods of the Fiscal Mechanism for Regulating the Investment Development of the Ukrainian Economy

2020 ◽  
pp. 71-76
Author(s):  
Viktoriya Rudenko ◽  
Keyword(s):  
Economic Development ◽  
National Economy ◽  
Financial Policy ◽  
Investment Activity ◽  
Economic Issues ◽  
Theoretical Approaches ◽  
Scientific Substantiation ◽  
Definition Of ◽  
And Control ◽  
Financial Mechanism

In market conditions, one of the main regulators of economic development is the financial mechanism, a key element of which is the fiscal mechanism for regulating the national economy investment development. Currently, the methods of the fiscal mechanism are not used effectively enough in Ukrainian practice, as evidenced by the low investment attractiveness of the economy and weak investment activity of economic entities. Therefore, the definition of the essence and components of methods of the fiscal mechanism is currently among the important financial and economic issues, the scientific substantiation of which largely depends on the economy investment development. The article is devoted to the study of theoretical approaches to the functioning of the methods of the financial mechanism and on this basis to determine the content and composition of the methods of the fiscal mechanism. It was determined that there are various approaches to understanding the essence of financial methods (as means, forms, methods, rules) and three conceptual approaches to the interpretation of the methods of financial mechanism: management (considers the methods of financial mechanism as processes in which implementation of financial policy); organizational (treats the methods of the financial mechanism as a means of organizing financial relations, which are formed in the process of implementing financial policy); complex (characterizes the methods of the financial mechanism as a process of organizing financial relations to achieve the objectives of financial policy). As a result of research of theoretical bases of functioning of financial methods the essence of methods of the fiscal mechanism of regulation of national economy investment development was substantiated. The main methods of the fiscal mechanism were identified, including planning, organization and control. The basic requirements to functioning of methods of the fiscal mechanism of regulation of the national economy investment development were considered.

scholarly journals FINANCIAL ARCHITECTURE AS THE BASE OF THE FINANCIAL SAFETY OF THE ENTERPRISE

2018 ◽  
Vol 4 (4) ◽  
pp. 334-340 ◽  
Author(s):  
Olga Sosnovska ◽  
Maksym Zhytar
Keyword(s):  
Economic Security ◽  
Scientific Development ◽  
Economic Science ◽  
Financial Risks ◽  
Financial Security ◽  
High Quality ◽  
Financial Architecture ◽  
Theoretical Approaches ◽  
Definition Of ◽  
Functional Components

In today’s economic realities, achieving the necessary level of financial security of enterprises is a prerequisite for ensuring their sustainable operation and the formation of competitive development parameters in the internal and external market environment. The effectiveness of this process depends on building a high-quality financial architecture as the basic structural element of the company’s financial security system. In this regard, the subject of the study is an analysis of existing theoretical approaches to the definition of financial architecture and its relationship with the financial security of the enterprise. The methodological basis of the research is the scientific development of domestic and foreign scientists, the fundamental theoretical positions of economic science in the field of financial architecture formation, financial risk management, and financial security of the enterprise. The purpose of the article is to study the essence of financial architecture in order to substantiate its determining influence on the financial security of the enterprise and ensure its sustainable functioning in an unstable development of economic processes. The article analyses the theoretical aspects of financial architecture and finds that the interpretation of this economic category is due to the existence of clear causal relationships between its constituent elements and their impact on the financial support. Proceeding from this, the definition of financial architecture is drawn as a set of interconnected structural elements such as capital structure, ownership structure and quality of corporate governance, which accumulate and mobilize financial resources, increase control over the activity of the enterprise, solve conflicts of interest between owners and other stakeholders. It is determined that the choice of principles and methods for constructing financial architecture depends on such financial interests of economic entities as forming a flexible financial potential, optimizing the structure of capital, increasing investment attractiveness, maximizing profits, and increasing the market value of the enterprise. It is proved that the result of building a flexible financial architecture is to provide the appropriate level of financial security of an enterprise by identifying, quantifying, neutralizing, minimizing, and monitoring its financial risks. It is proposed to systematize indicators of financial security level assessment on the most typical of its functional components, among which investment, credit, emission, innovation, and currency can be distinguished. It has been established that ensuring the appropriate level of financial security will contribute to achieving financial sustainability, forming qualitative financial potential, providing competitive advantages, harmonizing interests of economic entities, and creating an effective system of economic security of the enterprise. It is concluded that the construction of high-quality financial architecture is the basis of financial security of an enterprise, the level of which depends on the proper management of financial risks and ensuring an adequate level of safety of all its functional components. As a criterion for the effectiveness of the process of ensuring the financial security of the company, sustainable development of the enterprise was determined in the conditions of an unstable economic environment.

A fresh look at the concepts of economic and macroeconomic crises: General, priority, and institutional approach

2021 ◽  
Vol 27 (10) ◽  
pp. 2282-2313
Author(s):  
Dmitrii V. MANUSHIN
Keyword(s):  
Crisis Management ◽  
Economic Crisis ◽  
Economic Approach ◽  
Economic Crises ◽  
New Approach ◽  
Institutional Economic ◽  
Institutional Approach ◽  
Effort Mobilization ◽  
Logical Method ◽  
The Impact

Subject. The article addresses approaches to understanding the economic and macroeconomic crisis. Objectives. The aim is to study and update the concepts of macroeconomic crisis and economic crisis, taking into account modern crisis phenomena and processes, for easier identification and timely anti-crisis measures. Methods. The study draws on the abstract-logical method. Results. The paper clarifies the terms "macroeconomic crisis" and "economic crisis", adds two approaches to the traditional general economic approach to understanding macroeconomic and economic crises, i.e. priority-economic (new approach) and institutional- economic (updated approach). I offer a new systemic grouping of signs of macroeconomic crises and examples that reveal the impact of new signs of these crises on macroeconomics. I formulated a new idea of the unity of intermittent and persistent crisis. Conclusions. The priority-economic approach indicates the priority areas of effort mobilization in the process of crisis management of macroeconomics. The institutional-economic approach broadens the perception of the crises and confirms the need to apply an updated institutional approach to all phenomena and processes studied in macroeconomics.

scholarly journals The Conceptual Principles of Tax Planning of Enterprises in the Context of Fourth Industrial Revolution

2021 ◽  
Vol 4 (519) ◽  
pp. 210-216
Author(s):  
Y. I. Hlushchenko ◽  
◽  
O. O. Korohodova ◽  
T. Y. Moiseienko ◽  
N. O. Chernenko ◽  
...  
Keyword(s):  
Business Processes ◽  
Industrial Revolution ◽  
Financial Economic ◽  
Tax Planning ◽  
Economic Activities ◽  
Tax System ◽  
Fourth Industrial Revolution ◽  
Micro Level ◽  
Definition Of ◽  
The Impact

The authors disclose the essence of tax planning for domestic enterprises in the conditions of development of the economy in the context of the Fourth Industrial Revolution. Foreign experience as to approaches to interpretation of the phenomenon of «tax planning» is studied. It is substantiated that the existing modern approaches to the definition of the term of «tax planning» should be divided by the characteristics of purpose and subordination. The work contains a further elaboration of conceptual-categorical apparatus of taxation theory by closer defining of «tax planning», where, contrary to existing developments, it is proposed to assess the impact of elements of the current tax system on the efficiency of financial-economic activities of enterprises. A theoretical analysis of modern trends of tax planning is carried out and it is determined that the existing conditions of operation of enterprises are such phenomena as: digitalization of economic processes, robotization of business processes, influence of other factors of the Fourth Industrial Revolution and growth of uncertainty and level of risks for economic entities. According to the results of the research, it is defined that all these phenomena will affect the process of taxation of enterprises at the micro level due to the acceleration of data processing processes and changes in tax planning objects. The article explains the directions of further research on this topic, namely, the development of an economic-mathematical model of the influence of elements of the tax system in the context of the trends of the Fourth Industrial Revolution, which becomes relevant in modern conditions of tax planning.

scholarly journals The teoretical aspects of Risk management and Crisis management

2009 ◽  
Vol 57 (6) ◽  
pp. 377-382
Author(s):  
Josef Zrůst
Keyword(s):  
Risk Management ◽  
Crisis Management ◽  
Business Environment ◽  
Negative Effects ◽  
Risk Regulation ◽  
Reciprocal Relations ◽  
Definition Of ◽  
Basic Features ◽  
The Impact ◽  
Subsequent Stabilization

This article defines the theoretical specification of risk management and crisis management. The main goal of this article is to define the basic features and understand the reciprocal relations between risk management and crisis management and their function in the business environment.Risk management is a process of risk regulation. It helps to protect an enterprise from the impact of existing and future risks. Part of this process is the decision process which derives from risk's analysis.Crisis management can be defined as a permanent process of monitoring single factors of efficiency with the goal to identifying and applying proactive steps leading to the prevention of crisis creation and its negative effects. Another definition evaluates crisis management as a process of crisis identification and the enterprise's subsequent stabilization.The specification of areciprocal relationship between risk management and crisis management arises from the definition of risk as a source of danger causing current or future crisis in the enterprise.

Methodology for assessing the effectiveness of the scientific and innovative cluster

Ekonomika APK ◽  
2021 ◽  
Vol 317 (3) ◽  
pp. 81-88
Author(s):  
Oleksandr Nechyporenko ◽  
Yurii Nosenko ◽  
Lesia Sinelnyk
Keyword(s):  
Agricultural Sector ◽  
Synthesis Method ◽  
Practical Significance ◽  
Research Centers ◽  
Theoretical Approaches ◽  
Innovative Cluster ◽  
Analysis And Synthesis ◽  
Definition Of ◽  
Internal And External Factors ◽  
The Impact

The purpose of the article is to analyze the existing methodological approaches to assessing the activities of corporate cluster structures of various types and to select criteria for assessing the activities of interregional research centers of the NAAS, as cluster formations. Research methods. General scientific methods of empirical knowledge were applied: monographic and comparison, with the help of which an understanding of various methods of assessing clustering processes and the degree of implementation of integration initiatives was achieved, individual levels of cluster development were discovered and compared, changes in theoretical approaches to assessing their activities were revealed, trends in the development of scientific thoughts about this; also used cognitive comparison and description operations; according to the method of analysis, the optimal methods for assessing the effectiveness of cluster scientific unions have been identified; the synthesis method provided an opportunity to integrate approaches and propose a methodology for determining the level of efficiency of a scientific and innovative association; using a systematic approach, the influence of internal and external factors on the performance of cluster entities and their individual participants in a competitive environment was studied; abstraction made it possible to move away from a number of stereotypes regarding the definition of acceptable criteria for assessing the results of cluster activities and to highlight their essential characteristics, which is the basis of the model for the indicative assessment of the integration of scientific and innovative associations. Research results. A number of different theoretical approaches to determining the effectiveness of the activity of cluster structures are disclosed. It has been established that, in particular, their activities are assessed depending on the object of research or on the potential benefits of integration, while taking into account macro- and microeconomic indicators that characterize the impact of the cluster on society. The analysis and synthesis of currently known individual methods provided an opportunity to propose criteria for assessing the effectiveness of the functioning of “interregional research centers of the NAAS, maximally reflect the degree of implementation of those aspects of integration that ensure the economic efficiency of interaction of all subjects of cluster education and at the same time open up prospects for further research to determine the fair score and weighting factors for each of the proposed indicators. Scientific novelty. A system of complex indicative indicators is proposed for assessing the activities of a scientific and innovative cluster, which reflect the essential characteristics of the implementation of integration initiatives in the agricultural sector. Practical significance. The developed proposals for determining the effectiveness of the functioning of the scientific and innovative cluster can be used to assess the results of the activities of the interregional scientific centers of the NAAS. Refs.: 23.

scholarly journals THE ESSENCE OF THE FINANCIAL COMPONENT OF ECONOMIC SECURITY IN THE REGION

2019 ◽  
Vol 7 (3) ◽  
pp. 41-45
Author(s):  
Марина Барсукова ◽  
Marina Barsukova ◽  
Людмила Федорова ◽  
Lyudmila Fedorova
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial System ◽  
Economic Security ◽  
Financial Security ◽  
Advantages And Disadvantages ◽  
Management Algorithm ◽  
Theoretical Approaches ◽  
Socio Economic Development ◽  
Definition Of

Theoretical approaches to the management of the financial component of the economic security of the region, the concept of "financial security" with the identification of advantages and disadvantages, the author's definition of financial security of the region as the level of development of financial relations and the ability of the financial system of the region to ensure the protection of the interests of participants in these relations from threats, to form the prerequisites and resources for expanded reproduction, economic growth and sustainable socio-economic development of the territory, defined goals, objectives, management algorithm and tools of economic security in the financial sphere of the region.

scholarly journals The Impact of the First Wave of Covid-19 on the Financial Security of Economics Students in Higher Education

2021 ◽  
Vol 66 (3) ◽  
pp. 359-380
Author(s):  
Botond Kálmán ◽  
Judit Bárczi ◽  
Zoltán Zéman
Keyword(s):  
Higher Education ◽  
Economic Crisis ◽  
Financial Literacy ◽  
Foreign Students ◽  
Linear Models ◽  
Financial Security ◽  
Two Phase ◽  
Sense Of Security ◽  
Set Up ◽  
The Impact

Our study examines the financial literacy of students in higher education studying economics. Literature shows that financial literacy is becoming more valuable, but this increasingly important knowledge is not accompanied by practical results. Therefore, the sense of financial security is also reduced, especially if an unexpected major economic crisis occurs. The reasons for this decline have been investigated. Hungarian and foreign students were interviewed in a two-phase offline questionnaire survey. The first wave of COVID-19 took place between the two surveys to model the economic crisis. The questions assessed students’ theoretical knowledge, financial behaviour, and attitudes towards finance. We also asked how they rated their own financial situation and sense of security. After statistically processing the responses, linear models were set up to identify the factors that played a role in the development of financial security. Our most important result is that the year of the survey influences all dimensions of financial culture, which verifies the role and effect of the crisis caused by the outbreak.

scholarly journals Modeling the System of Economic Security of AgroHoldings as the Basis for their Sustainable Development in the Context of Global Crisis Management

2018 ◽  
Vol 5 (5) ◽  
pp. 64-72
Author(s):  
A. V. Gluschchenko ◽  
E. P. Kucherova ◽  
M. V. Denisov
Keyword(s):  
Sustainable Development ◽  
Crisis Management ◽  
Development Strategy ◽  
Global Economy ◽  
Business Processes ◽  
Rapid Development ◽  
Economic Security ◽  
Global Crisis ◽  
External Threats ◽  
Theoretical Approaches

The global economic system is at the stage of its active formation and development. Its borders and conditions of existence are constantly changing, which is accompanied by crises, which affect the economic systems of all countries participating in the world economy. The current global fnancial crisis, which is global and systemic, revealed a lack of effective theoretical approaches to the development of practical methods for overcoming the crisis phenomena used in the management of integrated agro-formations. This predetermines the need to improve the system of global crisis management that contributes to an adequate response to crises and is based on innovative approaches and the application of modern concepts of sustainable development in order to ensure economic security. The globalization of the fnancial and food markets, on the one hand, allows the agro-holdings to compare and evaluate the effciency of investment simultaneously within the entire international economy; expand and strengthen the fnancing capacity of various economic projects. On the other hand, qualitative changes in the global economy are of a deep and risky nature, due to the rapid development of fnancial innovations, which leads to an insuffcient degree of development of the system of ensuring economic security of international activities of economic entities. As a result of the analysis of the activities of integrated agro-formations, the current trends in the development and functioning of agricultural holdings in the context of the global fnancial crisis have been revealed. The specifcs of ensuring sustainable development of agrostructures in the context of global crisis management are defned: soil-climatic, biological, ecological, technological, and organization of agricultural territories. A model for ensuring the economic security of the agricultural holding through a sustainable development strategy was developed and justifed, including the following elements: a mission, a goal and a system of balanced indicators. The decomposition of the activities of integrated agro-formation into groups of balanced indicators has been made: fnance, customers, internal business processes, training and development, competitors and on-farm decomposition system. The internal and external threats to economic security, which are the basis for the selected groups of the BSS (balanced scorecard system) for integrated agro-formations, are singled out. Fields of economic security of the agro-structure (critical, low, normal and high) are defned, as well as sustainable development strategies for each feld, allowing to move from a critical level of economic security to the high one.

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