Improvement of the strategy of insolvent organisations crisis recovery

The article presents the research results aimed at strategic management of an insolvent organisation to overcome the financial and economic crisis. Nowadays enterprises in Kazakhstan often have challenges with ensuring financial stability and solvency. As a result, many organisations become uncompetitive. It can cause a business bankruptcy. The article highlights modern issues of ensuring domestic commercial organisations financial stability. The paper proposes solutions available to improve an economic efficiency mechanism for managing the financial condition of insolvent organisations. Therefore, an integrated approach to the development and implementation of strategies to recover insolvent organisations from crisis includes financial recovery, optimisation of operational processes, management reorganisation, reorientation to new markets and products, strengthening marketing activities, and improving corporate culture. Each of these strategies is aimed at stabilising the financial condition, increasing efficiency, and competitiveness. The implementation of these strategies requires all organisation departments coordinated actions and adaptation to current economic conditions.