THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF THE FUNCTIONING OF THE ENTERPRISE ECONOMIC SECURITY MANAGEMENT MECHANISM IN THE CONTEXT OF DIGITALIZATION

The article lays the theoretical and methodological foundation for defining the concept of “economic security management mechanism”. It is assumed that doing business in the digital space is significantly different from traditional approaches to implementing this process and it requires updating the mechanisms for managing the economic security of economic structures that have decided to actively integrate into the digital economic system and understand their future strategic advantages from modernizing their own systems for ensuring financial and economic security to counteract digital risks and threats. It is proposed that the mechanism for managing the economic security of an enterprise under the influence of digitalization be considered a set of elements for ensuring the state of economic integrity and profitability of the company, aimed at the effective use of management tools to counteract risks and threats to preserve and effectively use the enterprise's corporate resources in the external and internal digital economic space. A recommendation is made to divide the analytical procedures implemented during the functioning of the economic security management mechanism into two parts, for the needs of rational focusing of management efforts and expenditure of corporate resources. The first part should be aimed at identifying and managing traditional, classical risks of the external and internal environment of the enterprise's functioning, for example, those formed by the behavior of customers, competitors, stakeholders, production processes, economic policy and competition in the markets of goods and services; the second ‒ at those risks that arise in the digital space, for example, cyber risks, information risks, risks of untimely online payments, loss of communication or equipment shutdown due to failures of digital programs. It is determined that the modern economic security management mechanism under the influence of digitalization should focus on the use of artificial intelligence, analysis of big data, cloud technologies and the principle of the Zero Trust Policy.

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Publication Details

Journal
International Humanitarian University Herald Economics and Management
Published
2025-01-01
DOI
https://doi.org/10.32782/2413-2675/2025-62-1
Primary Topic
Business and Economic Development
Type
article
Field-Weighted Citation Impact
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article

THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF THE FUNCTIONING OF THE ENTERPRISE ECONOMIC SECURITY MANAGEMENT MECHANISM IN THE CONTEXT OF DIGITALIZATION

Наталія Зачосова, Nataliia Ilchenko, Olena Herasymenko
International Humanitarian University Herald Economics and Management
Business and Economic Development
article

THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF THE FUNCTIONING OF THE ENTERPRISE ECONOMIC SECURITY MANAGEMENT MECHANISM IN THE CONTEXT OF DIGITALIZATION

Наталія Зачосова, Nataliia Ilchenko, Olena Herasymenko
article en

Abstract

The article lays the theoretical and methodological foundation for defining the concept of “economic security management mechanism”. It is assumed that doing business in the digital space is significantly different from traditional approaches to implementing this process and it requires updating the mechanisms for managing the economic security of economic structures that have decided to actively integrate into the digital economic system and understand their future strategic advantages from modernizing their own systems for ensuring financial and economic security to counteract digital risks and threats. It is proposed that the mechanism for managing the economic security of an enterprise under the influence of digitalization be considered a set of elements for ensuring the state of economic integrity and profitability of the company, aimed at the effective use of management tools to counteract risks and threats to preserve and effectively use the enterprise's corporate resources in the external and internal digital economic space. A recommendation is made to divide the analytical procedures implemented during the functioning of the economic security management mechanism into two parts, for the needs of rational focusing of management efforts and expenditure of corporate resources. The first part should be aimed at identifying and managing traditional, classical risks of the external and internal environment of the enterprise's functioning, for example, those formed by the behavior of customers, competitors, stakeholders, production processes, economic policy and competition in the markets of goods and services; the second ‒ at those risks that arise in the digital space, for example, cyber risks, information risks, risks of untimely online payments, loss of communication or equipment shutdown due to failures of digital programs. It is determined that the modern economic security management mechanism under the influence of digitalization should focus on the use of artificial intelligence, analysis of big data, cloud technologies and the principle of the Zero Trust Policy.

International Humanitarian University Herald Economics and Management(62)
Openalex Percentile: Top 91%
Business and Economic Development
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