KEY ASPECTS OF THE STRATEGY FOR ENSURING THE ECONOMIC SECURITY OF THE ENTERPRISE

In a destabilising socio-economic environment, the strategic task facing business structures is to ensure the economic security of the enterprise as the main platform for increasing the economic potential of both business owners and the economy as a whole. The level of economic security of an enterprise is largely determined by the effectiveness of strategic management, which involves the formation and implementation of an economic security strategy. The main goal of the strategy for ensuring the economic security of an enterprise is to ensure the stable development of the enterprise’s socioeconomic system in the present and future. To achieve this goal, it is necessary to effectively manage the company’s resources, which involves ensuring personnel, financial and information security as the basis for the stable operation of the company’s economic and socio-economic systems. In this context, it is appropriate to emphasise the importance of the concept of crisis management. According to this concept, crisis management of an enterprise begins from the moment of establishment of the enterprise, since a crisis, as a potential destabilising factor, can occur at any stage of the enterprise’s life cycle. Therefore, any management of enterprise resources is a priori anti-crisis, since it takes into account the presence of potential threats, even if the financial and economic system of the enterprise is apparently stable. Anti-crisis management of an enterprise necessarily includes a strategy for ensuring the economic security of the enterprise as the main action plan for the implementation of anti-crisis measures, with certain time, qualitative and quantitative parameters. At the same time, the strategy of ensuring economic security of an enterprise involves planning and implementation of all the measures specified in it through the principles and methods of crisis management, which reflects the interconnection and mutual influence of these two categories. The effectiveness of strategic management of economic security of an enterprise is largely determined by the quantitative and qualitative state of its resources, objective diagnostics of the level of economic security, optimal planning of measures to neutralise threats and minimise risks, as well as the effectiveness of crisis management, which together ensure stable functioning and development of an enterprise in the face of modern challenges.

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Publication Details

Journal
Scientific Notes of Taurida National V I Vernadsky University Series Economy and Management
Published
2025-01-01
DOI
https://doi.org/10.32782/2523-4803/75-1-15
Primary Topic
Banking, Crisis Management, COVID-19 Impact
Type
article
Field-Weighted Citation Impact
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article

KEY ASPECTS OF THE STRATEGY FOR ENSURING THE ECONOMIC SECURITY OF THE ENTERPRISE

Олена Халіна, Volodymyr Shmagalo
Scientific Notes of Taurida National V I Vernadsky University Series Economy and Management
Banking, Crisis Management, COVID-19 Impact
article

KEY ASPECTS OF THE STRATEGY FOR ENSURING THE ECONOMIC SECURITY OF THE ENTERPRISE

Олена Халіна, Volodymyr Shmagalo
article en

Abstract

In a destabilising socio-economic environment, the strategic task facing business structures is to ensure the economic security of the enterprise as the main platform for increasing the economic potential of both business owners and the economy as a whole. The level of economic security of an enterprise is largely determined by the effectiveness of strategic management, which involves the formation and implementation of an economic security strategy. The main goal of the strategy for ensuring the economic security of an enterprise is to ensure the stable development of the enterprise’s socioeconomic system in the present and future. To achieve this goal, it is necessary to effectively manage the company’s resources, which involves ensuring personnel, financial and information security as the basis for the stable operation of the company’s economic and socio-economic systems. In this context, it is appropriate to emphasise the importance of the concept of crisis management. According to this concept, crisis management of an enterprise begins from the moment of establishment of the enterprise, since a crisis, as a potential destabilising factor, can occur at any stage of the enterprise’s life cycle. Therefore, any management of enterprise resources is a priori anti-crisis, since it takes into account the presence of potential threats, even if the financial and economic system of the enterprise is apparently stable. Anti-crisis management of an enterprise necessarily includes a strategy for ensuring the economic security of the enterprise as the main action plan for the implementation of anti-crisis measures, with certain time, qualitative and quantitative parameters. At the same time, the strategy of ensuring economic security of an enterprise involves planning and implementation of all the measures specified in it through the principles and methods of crisis management, which reflects the interconnection and mutual influence of these two categories. The effectiveness of strategic management of economic security of an enterprise is largely determined by the quantitative and qualitative state of its resources, objective diagnostics of the level of economic security, optimal planning of measures to neutralise threats and minimise risks, as well as the effectiveness of crisis management, which together ensure stable functioning and development of an enterprise in the face of modern challenges.

Scientific Notes of Taurida National V I Vernadsky University Series Economy and ManagementVol. 75(1)
Openalex Percentile: Top 93%
Banking, Crisis Management, COVID-19 Impact
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