BANKRUPTCY PREVENTION STRATEGY AND ITS PLACE IN THE SYSTEM OF STRATEGIC ENTERPRISE MANAGEMENT

2020 ◽  
Vol 10 (9) ◽  
pp. 2013-2025
Author(s):  
E.A. Leonenko ◽  
◽  
S.V. Kunev ◽  
A.A. Bushova ◽  
◽  
...  
Keyword(s):  
Early Stage ◽  
State Regulation ◽  
Prevention Strategy ◽  
Enterprise Management ◽  
Prevention Measures ◽  
Economic Relations ◽  
Financial Condition ◽  
Stage Of Development ◽  
Business Entities

In the modern market economy, an assessment of the enterprise's financial condition is of great importance for the effective adaptation of the company to a turbulent market environment. This is due to the fact that organizations acquire independence and are fully responsible for the results of their activities to shareholders, suppliers, employees, creditors and banks. At the same time, in the phase of crisis phenomena in the economy, survival in a competitive environment is of particular importance for many enterprises, and therefore the issues of diagnosing the risk of bankruptcy of business entities are more relevant than ever. When identifying signs of bankruptcy, companies' management focuses on the development and implementation of such measures that would avoid it and build the enterprise to a new stage of development. In this regard, one of the most important components of bankruptcy prevention measures is the development of a bankruptcy prevention strategy (anti-crisis management strategy). To overcome the insolvency of ineffectively operating economic entities, at an early stage, the problem of developing an organizational and economic mechanism and measures that will strengthen the position of an enterprise in the market and help to postpone possible bankruptcy becomes dominant. The inclusion of bankruptcy in the mechanism of state regulation, which followed the formation of new economic relations in the Russian Federation, objectively required a rethinking of the previously accumulated theoretical and methodological developments and practical solutions. A bankruptcy prevention strategy is a set of prescribed measures for the long term to get an enterprise out of a crisis situation and prevent bankruptcy. It is such a development as a strategy for preventing bankruptcy that is an algorithm for all personnel of an enterprise to act during a crisis (bankruptcy).

CHARACTERISTICS OF ORGANIZING AND THE PROCESS OF FORMING A STRATEGY TO PREVENT BANKRUPTCY ON THE EXAMPLE OF “OAO RADIODETAL” ENTERPRISE

2020 ◽  
Vol 10 (9) ◽  
pp. 1906-1929
Author(s):  
E.A. Leonenko ◽  
◽  
S.V. Kunev ◽  
A.A. Bushova ◽  
◽  
...  
Keyword(s):  
Visual Analysis ◽  
Early Stage ◽  
State Regulation ◽  
Prevention Strategy ◽  
Prevention Measures ◽  
Economic Relations ◽  
Financial Condition ◽  
Stage Of Development ◽  
The Russian Federation ◽  
Business Entities

In the phase of crisis phenomena in the economy, their survival in a competitive environment is of particular importance for many enterprises, and therefore the issues of diagnosing the risk of bankruptcy of business entities are more relevant than ever. When identifying signs of bankruptcy, the management of companies focuses on the development and implementation of such measures that would avoid it and build the enterprise to a new stage of development. In this regard, one of the most important components of bankruptcy prevention measures is the development of a bankruptcy prevention strategy or an anti-crisis management strategy. To overcome the insolvency of ineffectively operating economic entities, at an early stage, the problem of developing an organizational and economic mechanism and measures that will strengthen the position of an enterprise in the market and help to postpone possible bankruptcy becomes dominant. The inclusion of bankruptcy in the mechanism of state regulation, which followed the formation of new economic relations in the Russian Federation, objectively required a rethinking of the previously accumulated theoretical and methodological developments and practical solutions. This article presents a visual analysis of the organizationand the process of forming a strategy to prevent bankruptcy on the example of a specific enterprise - “OAO Radiodetal”. In the financial condition of the investigated enterprise, a number of problem areas are highlighted; a strategy for preventing bankruptcy is being formed at the enterprise. In the course of assessing the process of forming a bankruptcy prevention strategy at “OAO Radiodetal”, a number of shortcomings were also noted, the key of which is the lack of analysis of the external environment, which may lead to not taking into account important factors of the enterprise's activities. When implementing a bankruptcy prevention strategy and at the initial stages of its formation, specialists involved in this rely on the results of assessing the likelihood of bankruptcy.

MODERN PROBLEMS OF ACCOUNTING AND ANALYTICAL ENSURING FINANCIAL RESULTS MANAGEMENT

2020 ◽  
Author(s):  
Yuliia Peniak ◽  
◽  
Nataliia Horokhovatska ◽  
Keyword(s):  
Performance Management ◽  
Enterprise Management ◽  
Goods And Services ◽  
Financial Condition ◽  
General Evaluation ◽  
Net Profit ◽  
Business Entities ◽  
Results Management ◽  
Main Components ◽  
The Impact

The main purpose of any enterprise in the market economy is to obtain high financial results. One of the main conditions for the effective functioning of the enterprise is ability to generate profit in the amount that will create the financial basis for further development and expansion of the enterprise, comply with social and material needs, ensure competitiveness in the market of goods and services. The need for accounting and analytical management of financial results stems from needs of owners, the state and employees in information that will enable them to identify patterns and trends in financial results, identify and assess the main factors influencing the process of their creation, distribution and usage, identify reserves and thus increase the level of profitability. Despite the significant scientific contribution in the field of research of financial results of the enterprises, the issue of improvement aims to the accounting and analytical maintenance of management of financial results of the enterprise remains actual. That is why the purpose of the study is to substantiate the theoretical and practical aspects and develop approaches to improving the mechanism of formation of accounting and analytical support for the management of financial results of the enterprise. Accounting and analytical management of financial results of the enterprise is a set of interconnected elements of production and management system, activities carried out by the subject of management, creation of a certain structure, as well as collection, accumulation, storage and analysis of information necessary for effective operation of the enterprise. The main components of the study of accounting and analytical support of financial performance management are the formation of methods of analysis, control and forecasting of financial results, which requires specification of the components of the analytical and controlled process within the organizational and information model. Namely, the formation of reliable information about the financial condition of the enterprise, the analysis of economic indicators of the enterprise is of great importance in the system of general evaluation of business entities. Their research makes it possible to assess the dynamics of the structure of income and expenses, to determine the impact of factors on the company's profit from various activities, as well as to find reserves to increase the net profit of enterprises. Thus, the improvement of accounting and analytical support of enterprise management is based on the use of modern forms, methods and principles that place new demands on the formation of unbiased, complete, timely, clear and useful accounting and analytical information about the enterprise and its financial results.

The Prosecutor in Arbitration: A Historical Perspective

2021 ◽  
Author(s):  
E.V. Kolesnikov ◽  
Keyword(s):  
Economic Activity ◽  
Present Stage ◽  
Society Business ◽  
Economic Relations ◽  
Legal Norms ◽  
Stage Of Development ◽  
Legitimate Interests ◽  
The Subject ◽  
Business Entities ◽  
Degree Of Participation

The subject of the study is a retrospective of the legal norms formation. Under these norms the prosecutor will be able to govern the issues of ensuring the legitimate interests of the state, society, business entities and the rights of citizens in resolving disputes in the field of economic activity. Chronological framework of research includes the period from the establishment of prosecutor's office in 1722 up to the collapse of USSR in 1991. The relevant legislation is analyzed. The author examines the scope of prosecutor powers in this sphere at different stages of formation and development of prosecution, and reveals the problems of determining the prosecutor's office place in the system of existing at that time bodies of state power. It is concluded that the prosecution authorities, since their creation in Russia and up to the present stage of development, taking a greater or lesser degree of participation in the resolution of disputes in the sphere of economic activity, played a significant role in the protection of exclusively state interests. The interests of society, business entities and citizens in the sphere of economic activity if there is a dispute were considered only through the prism of such interests. The hierarchy of interests of participants of economic activity in dispute resolution was unbalanced and built without taking into account the interests of all participants of economic relations.

scholarly journals Tourist enterprise marketing complex: international and national aspect

2021 ◽  
pp. 124-127
Author(s):  
О.В. Птащенко ◽  
В.А. Вовк
Keyword(s):  
Development Strategy ◽  
Modern Technology ◽  
Machine Building ◽  
Enterprise Management ◽  
Goods And Services ◽  
Marketing Activities ◽  
Marketing Variables ◽  
Business Entities ◽  
The Right

The main features of the marketing complex for the enterprises of the tourist branch are considered in the article. In a market economy, the concept of marketing, as part of improving enterprise management, becomes an integral part of its activities. With the help of a number of controlled marketing variables, business entities can influence customers, stimulate them, encouraging them to certain, desirable for the company actions in the market until the purchase. One of the elements of the marketing complex is the brand. Increasingly, it is important to use it as one of the most important marketing factors that can ensure the success of the company in the market. To a large extent, this success is due to choosing the right branding strategy. This choice, as well as the positioning and development strategy of the brand directly depend on the chosen variety. In addition, it should be noted that the purpose of marketing is not only to benefit companies, but also to build long-term relationships with consumers, meet their demands, improve the quality of goods and services, improve the conditions of their acquisition. It should also be noted that the formation of marketing activities at the enterprise today is impossible without a focus on modern technology. Such technologies include Internet marketing as a modern way of building a business. Principles of tourism marketing: constant search and maximum respect for the consumer, focus on his needs and requirements, which provide the market is not goods and services, and ways to solve consumer problems; flexibility in achieving the set goal by adapting to the requirements of the market with a simultaneous targeted impact on it; a comprehensive approach to the development of marketing plans, which involves the use not of individual marketing activities, and a set of marketing, a combination of individual elements which allows you to achieve a certain goal; focus on the long-term prospects of the enterprise. Thus, the main purpose of each enterprise is to achieve profitability and stability of services. Today it is possible to achieve only through the introduction of basic principles of marketing and the formation of a comprehensive mechanism of marketing activities. At the same time, the high cost of enterprises, for example, machine-building industry, agricultural machinery enterprises should be compensated by the introduction of modern advanced production technologies, rational use of fundamentally new materials, introduction of modern technological policy, including marketing and work aimed at improving skills. All this once again confirms the importance of marketing management today and as a consequence of the constant introduction of the latest marketing tools.

scholarly journals INSTITUTIONAL PRECONDITIONS FOR DIVERSIFICATION ENSURING OF THE NATURAL RECREATIONAL RESOURCES AND TERRITORIES USE

2021 ◽  
Author(s):  
Olha Golikova ◽  
Keyword(s):  
Organizational Support ◽  
State Regulation ◽  
Territorial Development ◽  
Economic Interests ◽  
Economic Relations ◽  
Fixed Assets ◽  
State And Local ◽  
Business Entities ◽  
Recreational Resources ◽  
Environmental Interests

The need to diversify the use of natural recreational resources and territories is a national issue of environmental management at the national and regional entities. This is especially true for unique natural areas and objects. The paper analyzes the current state and identifies trends in the development of recreational and tourist sphere of Ukraine. The analysis of normative-legal and organizational support of processes of of natural resources and territories use is carried out. It is established that a separate part of the main factors of production (facilities and fixed assets involved in the provision of health services) are privately owned by business entities, as natural recreational resources are owned by the state and local executive authorities. This situation is due to the need to reconcile socio-economic and environmental interests. The need to improve the permitting system for assessing natural resource potential, in particular natural recreational resources, as a tool for state regulation of economic relations on forms and property rights to natural recreational and involvement of socio-economic interests of territorial development and recreational tourism.

scholarly journals Micro-Sized Enterprise Management During the Epidemic. Qualitative Analysis

2021 ◽  
Vol 100 ◽  
pp. 01026
Author(s):  
Marcin Kęsy ◽  
Dariusz Pawliszczy ◽  
Liudmyla Morozovska ◽  
Nataliya Navolska ◽  
Oksana Apostolyuk
Keyword(s):  
High Risk ◽  
Qualitative Analysis ◽  
Service Sector ◽  
Local Level ◽  
Enterprise Management ◽  
Cognitive Value ◽  
Financial Condition ◽  
Business Entities

The epidemic has affected the business situation in business entities, especially micro-sized enterprises, which mainly work in the service sector. In the event of a crisis, it is the service sector that is at high risk for business. To improve the financial condition of companies throughout Poland, a so-called “anti-crisis shield” was prepared, in addition, the governing bodies of the Lubuskie Voivodeship prepared an assistance plan for entrepreneurs. Its counterpart at the local level was assistance directed at companies in Zielona Góra. The cognitive value of the article is enriched by a thematic study done at micro-sized enterprises operating in the service sector in the territory of the Lubuskie Voivodeship with offices in Zielona Góra.

Digital innovations in taxation: bibliometric analysis

2021 ◽  
Vol 5 (3) ◽  
pp. 66-77
Author(s):  
Nataliia Lagodiienko ◽  
Inna Yakushko
Keyword(s):  
Information Technologies ◽  
Scientific Development ◽  
Enterprise Management ◽  
Research Papers ◽  
Economic Relations ◽  
Current Trends ◽  
Scientific Papers ◽  
Tax Systems ◽  
Business Entities ◽  
New Research

Active development of digitalization processes worldwide is changing the usual mode of the operation of all areas of human activity. These processes have a special impact on the development of economic systems. The introduction of new information technologies in economic relations today is the norm and objectively necessary to ensure the competitiveness of national economies. Up to date, the outlined technologies play an essential role in reforming tax systems, which determines the relevance of this sphere of research considering the potential of digitalization and its application in this area. The purpose of the article is to conduct a bibliographic analysis of the state of research papers in the digitalization of tax systems and establish current trends in the scientific development of this system. The systematization of scientific sources and approaches to solving the taxation digitalization problem showed the lack of scientific papers in this area. Accordingly, the urgency of solving this situation is to conduct new research in this area to deepen the understanding of current trends in introducing new innovative technologies from the theoretical, methodological, and practical points of view. The methodical toolkit of the study was the methods of bibliographic and comparative analysis. As the information base to conduct research, the Scopus database was used. The empirical study was conducted using a bibliometric approach known as «the common words analysis» using the VOSviewer software. The analysis of the relevance of the study of taxes and digitalization as a separate scientific category was conducted. It was determined that for the last five years, there had been a significant growth of scientific research in digitalization as an objective process of reality, the analysis of which is studied within various sciences. The categorial relationship between keywords found in scientific papers, where the words «taxes» and «digitalization» are met, is analysed within the article. It made it possible to identify the following areas of research, within which the issues of digitalization of the tax system were studied individually: works related to the study of peculiarities of the international trade development, taxation in online trade; research papers, within which the taxation issues of business entities that do not have a physical location in the countries where they operate are studied; articles, which study the issues of enterprise management, the development of enterprise management in the digital age; papers, which analyse `the issues of reforming tax systems, the introduction of innovations to improve their functioning.

scholarly journals Management of small business entities

2020 ◽  
Vol 11 (8) ◽  
pp. 680
Author(s):  
Tetiana Portovaras ◽  
Zhanna Harbar ◽  
Ihor Sokurenko ◽  
Iuliia Samoilyk
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Negative Impact ◽  
Main Tool ◽  
The State ◽  
Small Business Development ◽  
Stage Of Development ◽  
Business Entities ◽  
Strategic Perspective

The purpose of the study is to identify the factors influencing the management of the activity of small businesses and to provide recommendations for its development through the resolution of crisis issues that prevent businesses from achieving strategic prospects and stable profits. The main factors for reducing the effectiveness of small businesses have been identified on the basis of the results of the questionnaire survey of one level of managers (small business directors), which should be taken into account in the formation of strategic management decisions and long-term development strategies. It is found that many of the factors are subject to managerial influence, which minimizes the negative impact on the performance of small business entities. The hypothesis that the main tool for stimulating small business development remains the state has confirmed with the help of research, but there is an urgent objective need to identify other factors that influence the activities of small businesses that impede their development and lead to closure. The study suggests that only a balance between the internal environment of small businesses and the regulatory framework of the state will allow them to work effectively in market conditions and provide the national economy with money. The authors present a position on the organization of a small business entity management system that reflects the links between processes and events in a market environment. The presented approach takes into account a number of elements of influence on a small business when forecasting its development in a strategic perspective. The results of the study showed that it is necessary to clearly identify the tasks at each stage of development of a small business entity, to form alternative models of its development by looking for ways to optimize activities and opportunities to avoid possible risks.

scholarly journals Potential of commodity benchmarks regulation in Ukraine: EU experience

2021 ◽  
pp. 36-40
Author(s):  
Viktoriia AHAPOVA ◽  
Oleksandr IVASHYNA ◽  
Svitlana IVASHYNA
Keyword(s):  
Public Procurement ◽  
State Regulation ◽  
Economic Decisions ◽  
Stage Of Development ◽  
Initial Stage ◽  
News Agencies ◽  
Effective Performance ◽  
Legislative Framework ◽  
Business Entities ◽  
Procurement System

In their activities, state bodies and state-owned enterprises of Ukraine constantly turn to reference prices published by national and foreign news agencies, as evidenced by both regulations and data from the e-procurement system. However, the lack of definition or established practice of translation and application of terms related to this area indicates the underdevelopment or initial stage of harmonization of Ukraine's and other countries’ economic practice. We state that the issue of benchmarks regulation is relevant at the level of state economic decisions, given the specific impact of specialized news agencies on economic processes. Thus, the purpose of this study is to present ways of possible state regulation of commodity benchmarks in Ukraine. We determined that relations in the field of benchmarks in Ukraine are not provided with a legislative framework in full measure. Thus, it is characterized by discreteness, although the reference to benchmarks is carried out not only by business entities but also by government agencies. Therefore, some measures are proposed to regulate the field of benchmarks. Ukraine has a possibility to rely on the European experience, critically evaluate it and take the most important aspects of regulation, given the initial stage of development of the benchmark system in Ukraine. In particular, one of the possible actions is to establish a reference register of benchmarks. Furthermore, price reporting agencies and other benchmark-related economic actors might be recommended to bring their methodology and activities in line with IOSCO principles, as the clarity and transparency of market assessment are, among other things, a guarantee of objectively effective performance of tasks for taxation and in the public procurement.

Peculiarities of strategic management of enterprises of forest complex of Ukraine

2019 ◽  
pp. 13-21
Author(s):  
Rostislav Dubas ◽  
Sergii Kamratov
Keyword(s):  
Strategic Management ◽  
Enterprise Management ◽  
Economic Relations ◽  
Long Run ◽  
Effective System ◽  
Future Work ◽  
Production Plans ◽  
Enterprise Activity ◽  
Economic Function

Subject of research – a set of organizational and economic relations that arise in the process of implementing an effective system of strategic management at the enterprise forest complex. The purpose of writing the article is to justify the mechanisms of implementing an effective system of strategic management of the forestry enterprise and directions for its improvement by assessing the implementation of production plans of the enterprise. Methodology of work – system-structural and comparative analyzes (for the formation of the mechanism of an effective system of strategic enterprise management), a systematic approach to the knowledge of economic phenomena (assessment of the ecological and economic function of the left economy). In the process of research, the method of economic analysis (determining the indicators of strategic management of the production activities of the enterprise) were used. The results of the work – the proposed assessment of the system of strategic management of the production activities of the forest enterprise of Ukraine in terms of monetary and natural indicators, associated with the implementation of production plans of the enterprise in the long run, which allows to monitor the most important directions of strategic management of the enterprise activity, to detect in the dynamics of deviation of the planned and actual indicators and optimize them in the future work of the enterprise. Conclusions – proved the peculiarity of the activity of the forestry enterprise, which is associated with the long-term period of forestry and corresponding forestry activities and measures, reflected in the need for strategic planning of production indicators of the enterprise (for 5-10 years) with a view to their implementation during a certain forest-taxisation period. The proposed methodology for assessing the implementation of plans for production in monetary and natural measurements by the enterprise can justify the effectiveness / ineffectiveness of the system of strategic management of the production activity of the forest enterprise enterprise in relation to the comparison of the performed indicators of the plan in the natural meters and the planned financial costs for its realization.

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