scholarly journals ADAPTATION OF ANTI-CRISIS FINANCIAL MANAGEMENT OF INDUSTRIAL ENTERPRISES TO THE MODERN CONDITIONS OF ECONOMIC DEVELOPMENT

2018 ◽  
pp. 65-71
Author(s):  
Nataliia Olehivna Kondratenko ◽  
Olena Vadymivna Kozureva ◽  
Viktor Yuriiovych Stepanov
Keyword(s):  
Economic Development ◽  
Crisis Management ◽  
Financial Management ◽  
Target Setting ◽  
Financial Activity ◽  
Material Resources ◽  
Industrial Enterprises ◽  
Production Economic ◽  
High Dynamic ◽  
Characteristic Features

Urgency of the research. Modern industrial enterprises carry out their production-economic and financial activity in the conditions of macroeconomic instability, uncertainty and high dynamic of the external environment. For this reason, there is an urgent need for continuous monitoring of the financial and property status of enterprises. Target setting. Characteristic features of the development of domestic industrial enterprises is the lack of effective management mechanisms; stagnation; lack of organization of management of labor, financial and material resources. During the last decade, the economic crisis has caught unexpectedly Ukrainian industrial enterprises, whose products make up the lion's share in the country's GDP. Actual scientific research and issues analysis. The basics of crisis management were studied in the writings of many prominent economists. Among them: M. Adamov [1], T. Gudz [2], L. Ligonenko [3], P. Pererva [4], O. Timoshenko [5], O. Tereshchenko [6]. Uninvestigated parts of general matters defining. Problems of adaptation of the crisis financial management of industrial enterprises to the current conditions of economic development have not been adequately covered and require more detailed elaboration. The research objective. The purpose of the article is to develop the mechanism of adaptation of the crisis financial management of industrial enterprises to the current conditions of economic development on the basis of diagnostics of financial capabilities of the object of crisis management. The statement of basic materials. The article deals with the problems of adaptation of the crisis financial management of industrial enterprises to the modern conditions of economic development. The ways of improvement of the anti-crisis financial management of industrial enterprises on the basis of diagnostics of financial possibilities of the object of crisis management are offered. The mechanism of adaptation of anti-crisis financial management of industrial enterprises is developed. Conclusions. On the basis of the study, the authors concluded that adaptation of the crisis management of industrial enterprises to the current economic conditions was made.

scholarly journals Anti-crisis approach in the industrial enterprise management: methodological tools of preventive regulation

2020 ◽  
Vol 73 ◽  
pp. 01018
Author(s):  
Olga Maslak ◽  
Petro Sokurenko ◽  
Natalya Grishko ◽  
Ievgen Buriak ◽  
Mariya Maslak
Keyword(s):  
Crisis Management ◽  
Financial Management ◽  
Prediction Models ◽  
Global Financial Crisis ◽  
Production Costs ◽  
Enterprise Management ◽  
The European Union ◽  
Advantages And Disadvantages ◽  
Industrial Enterprises ◽  
The Global Financial Crisis

The paper covers the theoretical and methodological framework for assessment of the crisis management effectiveness and the enterprise bankruptcy probability. At the present stage of the Ukrainian economic development, the main weaknesses in the activities of enterprises include: loss of sales markets, imperfect production and sales policy, lack of working capital, inefficient financial management, significant production costs, which produce signs of crisis processes and determine the feasibility of preventive approach anti-crisis management use. At the same time, the choice of the topic is due to insufficient research of this scientific problem as a whole and its relevance for the economy of Ukraine, especially in the context of the search for external investment resources, cooperation on this basis with the European Union. It was determined that one of the ways to solve the problem of predicting the probability of bankruptcy is the use of insolvency prediction models developed on the basis of the discriminant analysis method – Z-coefficients. The authors systematized the most well-known approaches to predicting the likelihood of bankruptcy of industrial enterprises, illustrated their advantages and disadvantages, the mutual consistency of use. It has been established that additional opportunities for monitoring the effectiveness of anti-crisis measures are created by a system of indicators characterizing the level of effectiveness of the anti-crisis management system. Evaluating the effectiveness of the anti-crisis program only on the basis of an analysis of relative indicators is not enough: during the global financial crisis, sometimes convincing indicators of efficiency are absolute indicators and a projected trend of their change. As part of this study, attention is paid to the analytical levers of the crisis management mechanism, which are aimed at preventive regulation and localization of crisis processes in the enterprise, restoring the effectiveness of production and marketing activities.

scholarly journals COMPREHENSIVE ANALYSIS OF THE EFFICIENCY OF THE USE OF INDUSTRIAL ENTERPRISE WORKING CAPITAL

2018 ◽  
pp. 225-232 ◽  
Author(s):  
Ihor Yaskal ◽  
Oleksandr Kondriyevych
Keyword(s):  
Financial Management ◽  
Comprehensive Analysis ◽  
Working Capital ◽  
Internal Factors ◽  
Working Capital Management ◽  
Financial Activity ◽  
Production Economic ◽  
Industry Affiliation ◽  
Enterprise Activity

Introduction. One of the important issues of financial management at the enterprise is the management of working capital. The policy of working capital management of enterprise is directed to ensure long-term productive and efficient financial activity of the enterprise, which is achieved through a search for a compromise between the risk of liquidity loss and efficiency of work. The implementation of this policy involves determining the required level of current assets and optimizing the structure of the sources of their financing. Purpose. The article aims to explore the possibility of combining different methods of analysing the efficiency of using the working capital of enterprise to improve this process, which is based on systematization of existing proposals on this issue. Method (methodology). Indicators which characterize the turnover of funds or their sources, where the business activity of the enterprise in the financial sector is shown, have been calculated. The calculations have been carried out for period of 2015-2017 on the materials of LLC "Rosma" (Chernivtsi). Calculations in absolute terms are supplemented by calculations of deviations. It gives a possibility to investigate the changes of indicators in dynamics. A factor analysis of working capital changes has been done. The calculation of other indicators, which help to assess the efficiency of the use of working capital of the investigated enterprise, has been proposed. Results. The interpretation of calculated results has been proposed. It is shown that the duration of the stay of funds in circulation is influenced by external and internal factors. Among the external factors we can distinguish the following ones: the scope of enterprise activity, industry affiliation, scale of production, economic situation in the country.

scholarly journals SMALL BUSINESS IN WOODWORKING

2021 ◽  
Vol 11 (1) ◽  
pp. 181-191
Author(s):  
Igor Grigorev ◽  
Ol'ga Kunitskaya ◽  
Andrey Manukovskiy ◽  
Elena Maklakova ◽  
Vladimir Grigor'ev ◽  
...  
Keyword(s):  
Economic Development ◽  
Small Business ◽  
Small Businesses ◽  
Current Situation ◽  
Leningrad Region ◽  
Industrial Enterprises ◽  
Long Time ◽  
Main Production ◽  
Characteristic Features ◽  
Production Areas

The need to support and develop small business, as one of the pillars of the successful economic development of the state, has been talked about, written about, and held at various levels for quite a long time in Russia. A striking example of such a small business is individual entrepreneurs engaged in woodworking. These enterprises have their own characteristic features of work, which consist in the fact that the equipment and tools of the main production, basically, belong to the cheapest segment, quite often they are made independently. Production areas are rented in small premises of large industrial enterprises that are in operation and have ceased production. Manufacturing focuses on a fairly narrow segment of consumers, as well as on the production of non-serial products (for individual orders). Small businesses in woodworking have never brought super-profits due to the rather tough competition. To analyze the current situation, a sample of typical representatives of small business in woodworking located in St. Petersburg and the Leningrad region has been considered

scholarly journals THE STATE OF FINANCIAL ACTIVITY OF INDUSTRIAL ENTERPRISES AS A PREREQUISITE FOR CRISIS MANAGEMENT

2021 ◽  
Author(s):  
Yuliia Ohrenych ◽  
Oleksandr Hrytsenko
Keyword(s):  
Crisis Management ◽  
Financial Stability ◽  
Industrial Development ◽  
Market Competition ◽  
External Factors ◽  
Engineering Industry ◽  
Necessary Condition ◽  
Financial Activity ◽  
Industrial Enterprises ◽  
The Impact

The creation and further operation of any enterprise is aimed at making a profit, which in a market economy is not without the influence of a number of factors. In practice, these factors can be extremely diverse, ranging from market competition and, consequently, the constant need to modernize production, and ending with the political vicissitudes of the country, which often entails a change in the vector of industrial development as a whole. Maintaining the efficiency of financial activities, in conditions of constant external and internal factors of influence, is a necessary condition for the existence of each individual enterprise. Therefore, the analysis of factors and reasons for reducing the efficiency of financial activities of industrial enterprises is important for further decision-making on the implementation of anti-crisis management measures. The article analyzes the main trends of fluctuations in the financial activities of industrial enterprises of Ukraine on the example of PJSC "Zaporizhzhya Electric Locomotive Repair Plant". The key factors and reasons for changing the financial performance of the enterprise are identified. The influence of external factors on the reduction of financial efficiency is characterized. The analysis of a particular enterprise reflects the overall situation in the engineering industry of Ukraine, because each company is equally exposed to external factors on the financial condition, although it does not determine the methods of responding to external threats. The essence of the financial activity of the enterprise, the factors that determine it and the reasons for the impact of internal risks on the financial activities of economic entities are considered. The analysis of financial activity of the enterprise is carried out through a prism of indicators of profitability, liquidity, a condition of property, relative indicators of an estimation of financial stability and business activity. The necessity and expediency of anti-crisis management at an industrial enterprise have been established. The author identifies the main directions of improving the financial situation.

scholarly journals FEATURES OF THE APPLICATION OF FINANCIAL STRATEGY AT THE ENTERPRISE

2021 ◽  
Vol 26 (3(88)) ◽  
Author(s):  
Sadigov Rahim Farahim
Keyword(s):  
Financial Management ◽  
Good Governance ◽  
Financial Control ◽  
Financial Strategy ◽  
Macroeconomic Factors ◽  
Financial Activity ◽  
Industrial Enterprises ◽  
Governance Strategies ◽  
The Right ◽  
And Control

At present, the world economy is competitive. One of the main issues of increasing the competitiveness of industrial enterprises and sustainable development is the implementation of good governance strategies in the enterprise. One of the sub-issues of the management strategy is the financial strategy. To this end, we have chosen to conduct research to improve the company’s financial strategy. The purpose of the research is to conduct research in the field of improving the financial strategy, to provide scientific suggestions and recommendations in the field of improving the financial security of the enterprise. The methodology of the research is to conduct research in the field of formation of the right financial strategy to increase the competitiveness of the enterprise, the development of its economic and financial potential. Financial management is not just about shaping financial strategies. It is also a set of activities related to the planning, execution, financial control, accounting and reporting of the enterprise’s budget. Increasing the competitiveness of the enterprise leads to the strengthening of its market position, increasing its profitability and economic efficiency. The research was carried out in “EL Plastic” LLC. The research results can be used in the management of industrial enterprises. We have come to the conclusion from the research that these results reflect the main details of the formation and implementation of the financial strategy. The financial strategy applied in the enterprise is directly and indirectly exposed to the macroeconomic effects of the country. For this purpose, macroeconomic factors must be taken into account when determining the financial strategy of the enterprise. Having resources for the development of the enterprise, improving their use and expanding financial opportunities are the basis of the organization’s strategic activities. The financial strategy regulates the organization and implementation of this work, ensures the efficiency of management activities. Financial strategy requires planning of financial activity of the industrial enterprise, formation and implementation of mechanisms for attraction, use and control of financial resources. The financial strategy opens wide opportunities in the field of markets, sales and price management, expansion of the organization’s financial opportunities, achievement of high profitability.

scholarly journals Features of crisis management at industrial enterprises

2020 ◽  
pp. 29-33
Author(s):  
Maryna AKULIUSHYNA ◽  
Mariia HYZHYTSIA
Keyword(s):  
Crisis Management ◽  
Value Chain ◽  
Internal State ◽  
Weak Link ◽  
External Environment ◽  
Stable State ◽  
Managerial Decision ◽  
Manufacturing Enterprises ◽  
Industrial Enterprises ◽  
Characteristic Features

Introduction. Modern market conditions over the past decades are characterized by fluctuations from a stable state to a crisis. All businesses, regardless of scale and type of activity, suffer from crises. The larger the enterprise, the more stable its position and the better its management system. However, manufacturing enterprises have their own characteristics that must be taken into account. They have high costs, a lot of staff, the strength of the market and competitors. The purpose of the paper is to identify the main signs and directions of diagnosing crisis phenomena at production enterprises for effective crisis management. Results. The main characteristic features of crisis management for manufacturing enterprises are proposed to highlight such as the dependence on time, mobility and dynamism of resource support, the efficiency and prudence of managerial decision-making and the use of the program-target method. Moreover, in the context of strategic management, it is important to diagnose factors of the internal state of the enterprise and the external environment, assess the formation of the value of products and how competitive it is in the market in a crisis. Without a clear statement of the problems that led to the crisis in the enterprise, it is impossible to start developing anti-crisis measures. These measures include making small changes to the strategy of the enterprise, or a complete revision of the strategy and the development of a new one. The value chain reflects the process of creating the value of a product and includes various activities and, as a result, profit. The manager controlling the entire process finds a weak link in the chain and can manage each individually without harming the overall result. Conclusion. The market economy is developing in waves from a stable state to a crisis, and managers always need to be prepared for such conditions. Management of a manufacturing enterprise is always special to management. Crisis management is no exception. To maintain a competitive position, strategic plans must be constantly adjusted, changed depending on the influence of the external environment. The adoption of anti-crisis management decisions should be quick, balanced, dynamic, timely.

PRIORITIES AND RESOURCES OF GEORGIA: MYTHS, HISTORY, PERSPECTIVES

2020 ◽  
pp. 95-102
Author(s):  
Givi Talakvadze ◽  
Zurab Lomsadze ◽  
Joseph Archvadze
Keyword(s):  
Natural Resources ◽  
Management System ◽  
Historical Review ◽  
Mineral Resources ◽  
Soviet Period ◽  
Project Management System ◽  
Material Resources ◽  
Current State ◽  
Single Category ◽  
Characteristic Features

The article deals with issues related to the study of the main socio-economic priorities of Georgia. The brief historical review refutes the widely circulated thesis that during the Soviet period the Georgian Republic allegedly consumed much more goods than it produced; that per capita incomes were calculated astronomically. The issues of the current state of the country's resource supply were also considered. The concept of integral resources is used and it is proposed to combine a number of traditional and newly formed group of potential opportunities over the past decades into a single category of the so-called. "Partial resources", which, along with traditional types - natural, human and material resources, allow the most complete and comprehensive characterization of the possibility of their use for solving urgent socio-economic problems of the country. Particular attention is paid to the current state of Georgia's natural resources on the example of a brief analysis of mineral resources with an emphasis, in particular, on the resources of building and facing materials. In order to improve the efficiency of managing economic processes, it is proposed to radically improve the activities of ministries and departments of the country by switching to the so-called "Project management system" of the entire economic and economic complex of Georgia. The main feature of this system is associated with the introduction of a three-level classification of the main projects, which will be assigned National, Sectoral and Regional levels, depending on their scale and characteristic features. This will allow developing specific programs for the rational use of natural resources, to optimize the management system at all levels of authorities, to introduce innovative models of sustainable management, intended to significantly improve the living standards of the population of Georgia.

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