scholarly journals Enterprise Financial Security as an Anti-Crisis Management Method

2021 ◽  
Vol 25 (1) ◽  
pp. 153-159
Author(s):  
Iryna Khymych ◽  
◽  
Tetiana Vynnyk ◽  
Nataliia Konstantiuk ◽  
Nataliia Tymoshyk ◽  
...  
Keyword(s):  
Crisis Management ◽  
Financial Stability ◽  
Financial Economic ◽  
External Factors ◽  
Financial Security ◽  
Business World ◽  
Crisis Phenomenon ◽  
Modern Business ◽  
High Level ◽  
Internal And External Factors

Abstract. Introduction. Enterprise financial security is one of the measures to ensure and support financial stability. It is able to act as one of the main anti-crisis management methods and is extremely relevant in the uncertainty of the activities implementation. Management and staff must comply with a number of requirements for ensuring and maintaining their own level of financial capacity for effective enterprise functioning. After all, this factor will promote both its general adaptation, and will allow to carry out own activity now. It will also contribute to the plan formation to ensure the enterprise activities for the future, taking into account the necessary changes based on determining their impact on the development of further events in the business world. Purpose. His article has been described the essence and features of the «Financial security of the enterprise» concept. The necessity of its application in modern conditions of enterprise activity as one of the most important anti-crisis management methods in conditions of uncertainty has been described. Results. The financial security of the enterprise is the basis of effective activity of any enterprise in modern business conditions, taking into account the influence of both internal and external factors that take place in the business world as a whole has been determined. It is researched that financial security needs constant updating and improvement. So, it must meet modern requirements for ensuring the stability of the enterprise as an important anti-crisis managing its activities method. The main components of financial security of the enterprise are offered and described, namely: organizational, managerial, and financial-economic. Conclusions. As a result or consequence of this, the formation, support, and development of the country’s enterprises’ financial security are influenced by many different, both interdependent and independent, internal and external factors. In addition, financial security needs constant provision to achieve a high level of support for the stable and uninterrupted operation of the enterprise under any conditions of its operation. Keywords: financial security; anti-crisis method; crisis phenomenon; organizational component; management component; financial and economic component; soft skills.

scholarly journals CONSIDIRATION OF INTERNAL AND EXTERNAL FACTORS OF BUILDING ENTERPRISE FINANCIAL STABILITY IN CRISIS MANAGEMENT

2018 ◽  
Vol 3 (10) ◽  
pp. 144-148
Author(s):  
Наталья Шлапакова ◽  
Natal'ya Shlapakova ◽  
Татьяна Учаева ◽  
Tat'yana Uchaeva ◽  
Валерия Сидорова ◽  
...  
Keyword(s):  
Crisis Management ◽  
Financial Stability ◽  
External Factors ◽  
Building Enterprise ◽  
Internal And External Factors

scholarly journals THE ROLE OF FINANCIAL CONTROLLING IN THE MANAGEMENT SYSTEM OF TOURISM AND RECREATIONAL COMPANY

2017 ◽  
Vol 1 (9) ◽  
pp. 1-8
Author(s):  
Maia Seliverstova
Keyword(s):  
Financial Stability ◽  
Foreign Currency ◽  
The United States ◽  
Financial Economic ◽  
Modern World ◽  
Main Task ◽  
15Th Century ◽  
Destabilizing Factors ◽  
High Level

In the modern world tourism and recreation are highly profitable activities, which also have asignificantimpact on the economy of the country, contributing to the inflow of foreign currency, creating newjobs, improving infrastructure and so on. In the conditions of economic instability and high level of marketcompetition, success of financial-economic activity of tourist enterprises is determined by the efficiency ofdecision-making that directly depends on the total access to information about the financial state and existingrisks.The aim of the researchwas to identify the role of financial controllingin the management systemof tourist-and-recreational company.Research methodsused for this research paper were analysis, synthesis, comparison, classificationand grouping of functions and objectives oftheobjectbeing studied.The objectwas the role of financial controlling in the management system.It is believed that controlling as economic term was discovered in Europe in the 15th century, afterthat it gained a wide development in the United States. In Russia, the concept of controlling became popularin the 1990s.Conclusions:1. The main task of financial controlling is to maintain profitability and ensure liquidity,i.e. the ability of the enterprise to fulfil its payment obligations at any time that is most relevant for the tourismindustry. Among the key challenges faced by resort companies, it is important to headline the seasonality ofdemand, which largely affects the using of their material resources. The duration of the active period can varyfrom 90 to 180 days; it often depends on climateand a number of other factors (Zlenko, 2015). In order tostabilize the work during the off-season, maintain financial stability and solvency in recent years many tourismand recreational enterprises began to strive for the introduction of modern management systems. 2. Aneffective system of financial controlling at a tourist and recreational enterprise allows fully assessing thecurrent position of the company, making forecasts and successfully resisting external destabilizing factors.

scholarly journals Combination of SWOT Analysis, Analytic Hierarchy Process, and Monte Carlo Simulation to Identify the Strategic Positioning of Crisis Management at the Ferdowsi University of Mashhad, Iran

2020 ◽  
pp. 93-101
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Crisis Management ◽  
External Factors ◽  
University Campus ◽  
Strategic Positioning ◽  
Analytic Hierarchy ◽  
Internal And External Factors ◽  
The University ◽  
Hierarchy Process

INTRODUCTION: Iran has long been recognized as one of the most accident-prone areas in the world due to its special geographical location. Therefore, it is of utmost importance to devote special attention to crisis management in organizations and the identification of related strengths, weaknesses, opportunities, and threats. METHODS: The present study aimed to identify the strategic positioning of crisis management after natural disasters at the Ferdowsi University of Mashhad as the center of excellence in the east of the country. To this end, the internal and external factors which militate against university crisis management were identified. Thereafter, the strategic positioning of this university was determined among four positions, namely offensive, defensive, adaptive, and contingency, using a combination of SWOT (strengths, weaknesses, opportunities, and threats) analysis, analytic hierarchy process (AHP), and Monte Carlo simulation, and strategies were presented. The statistical population were university facility experts and managers among whom 10 cases were selected by purposive sampling. FINDINGS: Based on the obtained results, the highest weights in different sub-criteria were as follows: compliance with the required technical and safety standards in new constructions of the university campus (strength), the absence of any specific plan for dealing with various types of crises in different buildings (weakness), the proximity of the fire station to the university campus (opportunity), and indecisiveness of organizations supervising building retrofitting, including provincial government and Roads and Urban Development Office (threat). CONCLUSION: The results of the present study demonstrated that strategic positioning can be identified by analyzing internal and external factors. Moreover, among the four strategic positions, it was found that the Ferdowsi University of Mashhad adopted an offensive crisis management strategy in 45.4% of the cases.

scholarly journals Theoretical essence and value of the financial stability of the enterprise

2020 ◽  
pp. 25-29
Author(s):  
Oksana VINNYTSKA ◽  
Liudmyla CHVERTKO ◽  
Tetiana KORNIIENKO
Keyword(s):  
Financial Stability ◽  
External Factors ◽  
Theoretical Research ◽  
Financial Condition ◽  
Current Period ◽  
The Future ◽  
Margin Of Safety ◽  
Business Entities ◽  
Definition Of ◽  
Internal And External Factors

Introduction. The solution of modern problems of stabilizing the national economy, ensuring the social development of society is possible only on the basis of positive shifts, primarily in the aspect of strengthening the financial condition of business entities. One of the important components of the analysis and management functions is to ensure the stable development of the enterprise and its financial stability. The concept of financial stability is complex and multifactorial, which is determined by the economic environment in which the enterprise operates, as well as the results of its functioning, the ability to actively and effectively respond to changes in internal and external factors. The purpose of the paper is in the study of the economic essence of financial stability, its determining factors, as well as the development of recommendations for improving the methodology of its management. Results. The financial stability of an enterprise is a complex, multifactorial category. The philosophy of the definition of the economic category “financial stability” provides for consideration as a reproduction process. This category characterizes the economic relations that make up the financial mechanism for ensuring the progressive socio-economic development of the enterprise. The analysis of theoretical research allows us to identify five approaches of scientists to determine the essence of financial stability. These approaches differ in the completeness of the characteristics of the financial condition of the enterprise. The variety of approaches indicates the ambiguity of the authors' definition of the concept of financial stability. Each author interprets this economic category from the standpoint of the goals and objectives of its research. The complexity of the category of financial stability of business entities lies in its essence, displaying the level of the financial condition and financial results of the enterprise, the ability to fulfill its obligations and ensure the development of the enterprise while maintaining credit and solvency, relative independence from changes in internal and external factors. A quantitative characteristic of financial stability is a margin of safety, which is determined by the structure of property and capital and ensures financial independence and solvency in the current period and in the future. It is this definition that determines such a logic for assessing financial stability as a sequence with varying degrees of detail in the consideration of all processes associated with the movement of financial resources, which are expressed in a change in the structure of property and capital. Conclusion. In general, the analysis of theoretical approaches to assessing financial stability and their generalization allows us to conclude that the financial stability of economic entities should be considered as a complex category, reflecting the level and structure of financial condition and financial results, the ability to fulfill their obligations and ensure the development of activities, while maintaining credit and solvency. It is also universal that the quantitative characteristics of financial stability should be considered a margin of safety, which the company, due to the structure of property and capital, and also ensures independence and solvency in the current period and in the future.

scholarly journals INFLUENCE OF INTERNAL AND EXTERNAL FACTORS ON THE FINANCIAL STABILITY OF COMMERCIAL ORGANIZATIONS AND THEIR CLASSIFICATION

2016 ◽  
pp. 74-77
Author(s):  
V. I. Kostyanaya
Keyword(s):  
Financial Stability ◽  
External Factors ◽  
Business Organizations ◽  
Factors Affecting ◽  
Commercial Organizations ◽  
Internal And External Factors ◽  
The Impact

This article describes the different approaches of contemporary Russian authors to the classification of the factors affecting the financial stability of the business organizations, it is affected, as well as developed and offered a refined group, which will help more than is justified to assess the impact of these factors on the financial stability of the organization.

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 Database Agile Management Dependent on MIS Infrastructure

10.28945/2427 ◽  
2001 ◽  
Author(s):  
Masaru Furukawa
Keyword(s):  
Decision Making ◽  
Environmental Changes ◽  
Quantitative Relationship ◽  
External Factors ◽  
Evaluation Procedure ◽  
Internal Factors ◽  
Business World ◽  
Core Property ◽  
Internal And External Factors ◽  
The Relationship

Today agility of management cannot be realized unless given all of the following three kinds of quickness: a) quick recognition of environmental changes, b) quick decision-making on countermeasures against these changes, and c) quick implementation of the countermeasures chosen. In the business world nowadays the quickness of a) concerns information that an MIS deals with, the quickness of b) concerns use of an MIS for decision-making, and the quickness of c) concerns change of an MIS itself. With a focus on c) and assuming that flexibility is a core property that an MIS should acquire to realize agile management, our study aims to clarify how MIS flexibility should be enhanced. With this aim in mind, we will survey the sources and types of change demands on an MIS and consider in a structured way the characteristics that an MIS should have, such that they will conduce to its flexibility in dealing with these change demands. Having laid the groundwork mentioned so far, we will discuss practical methods to enhance MIS flexibility, and end by presenting our evaluation procedure for MIS flexibility. In this paper, we have focused on and presented the following: the causes of change demands on an MIS, the internal and ex external factors that an MIS should maintain to cope with change demands, and the procedure for evaluation of MIS flexibility via analysis of the relationship between the internal and external factors. Specifically, we have elucidated the following: • MIS flexibility is an index of the ability of an MIS to absorb future change demands on it. • MIS flexibility can be evaluated quantitatively in terms of the substitute index of POC (penalty of change). • MIS flexibility consists of internal and external factors. Evaluation of external factors focuses on the volume of change demands an MIS can absorb, and evaluation of internal factors focuses on the variety of strategies to evade change risks. We have treated POC as a common index to evaluate the two categories of MIS flexibility factors. • External factors of MIS flexibility are constrained by internal factors. • Renovation of MIS infrastructure means application of information technology for evasion of change risks accompanying MIS implementation. • Proper renovation of MIS infrastructure will enhance the internal characteristics of MIS flexibility. The challenges confronting us ahead are the detailed and practical studies on the following: • quantitative relationship between each internal and external factor, • behavior of cost and utility of MIS use and MIS infrastructure on the time axis.

scholarly journals MANAGEMENT OF FINANCIAL SUSTAINABILITY OF THE ENTERPRISE AND ITS FEATURES IN THE FIELD OF SMALL RESTAURANT BUSINESS

2021 ◽  
Vol 5 (1) ◽  
pp. 1-14
Author(s):  
N. Hembarska ◽  
◽  
Kh. Danylkiv ◽  
L. Kvasnii ◽  
◽  
...  
Keyword(s):  
Financial Management ◽  
Small Businesses ◽  
Financial Stability ◽  
Large Scale ◽  
External Factors ◽  
Small Enterprise ◽  
Financial Sustainability ◽  
Sustainability Management ◽  
Financial Condition ◽  
Internal And External Factors

Purpose. The purpose of this study is to analyze the theoretical foundations of financial sustainability management and their practical application in the field of small restaurant business, improve methodological approaches and develop recommendations for the concept of financial sustainability management to overcome existing problems in today’s conditions. Design/methodology/approach. In the article the authors used the methods of induction, deduction, theoretical generalization to clarify the essence of financial stability from the standpoint of different authors and formulate a generalizing concept used to determine the basic principles of financial stability management, its tasks, components and the sequence of their application in the formation of the concept of managing the financial stability of a modern enterprise; observation, causation, description, specification, formalization – to analyze the problems of choosing the method on the basis of which the calculation of the main indicators of financial stability of the enterprise, as well as interpretation of the data to be used for small businesses, their calculation and the desired trend of change, the characteristics of the accounting support of this process; dialectical, modeling, generalization – to develop recommendations for improving the methodology and organization of the process of managing the financial stability of a small restaurant business. Conclusions. It is hypothesized that improving the methodology and organization of financial sustainability management of small restaurants allows to generate quality information space and sufficient resources to ensure a high degree of financial independence and a stable financial condition in which performance will improve or not deteriorate. changes in internal and external factors. It is proposed and substantiated to implement the concept of financial stability management of the enterprise taking into account the time factor in three levels: strategic, tactical and operational. It is noted that in modern conditions entrepreneurs in the field of small business need educational and training services for financial management, in particular, their financial stability, and the most important and most accessible element of financial stability of the enterprise in the short term is its budgeting system. Practical implications. The results of this study are of interest to small restaurant businesses that address financial sustainability management in quarantine, as quarantine and coronavirus (COVID-19) have caused large-scale economic upheaval, forcing entire businesses to adapt to new, more complex realities. In addition, the results can help identify weaknesses in marketing and finance; the most common causes of bankruptcy; internal and external factors that affect the financial stability of small restaurant business. The paper highlights the features and substantiates the main ways to overcome possible problems of managing the financial stability of small restaurant business. Originality/value. This study contains a description of the main parameters of managing the financial stability of the enterprise in terms of management levels; reveals the characteristics of modern small restaurant business and the problems that arise in the process of managing its financial stability; contains proposals to ensure the financial stability of a small enterprise, namely, it is proposed to pay attention to three main components: the efficiency of use and increase of equity; ensuring solvency by regulating the size and structure of property and capital of the enterprise; ensuring liquidity of assets.

scholarly journals Pro-Environmental Behaviour in Student Residences at Rhodes University, South Africa

2018 ◽  
Vol 10 (8) ◽  
pp. 2746 ◽  
Author(s):  
Gladman Thondhlana ◽  
Thina N. Hlatshwayo
Keyword(s):  
South Africa ◽  
Questionnaire Survey ◽  
Environmental Problems ◽  
External Factors ◽  
Environmental Behaviour ◽  
University Campuses ◽  
Environmental Actions ◽  
Dispositional Factors ◽  
High Level ◽  
Internal And External Factors

Human behaviour is at the centre of most environmental problems; hence, the promotion of pro-environmental behaviour is considered to be a pathway towards sustainability. Despite the availability of insights gained from pro-environmental behaviour studies, mainly from household and workplace settings, a key question remains—can these insights be applied in university residence settings? Within university campuses, student residences are a major entity in sustainability debates because they are major consumers of resources including paper, water and energy with severe repercussions for university budgets and the environment. Using a questionnaire survey, this study explores reported pro-environmental behaviour and its determinants at Rhodes University, South Africa. Data were analysed using descriptive and inferential statistics where relevant. The findings show a high level of heterogeneity in reported pro-environmental behaviour, attributed to a suite of internal and external factors. Internal dispositional factors seemed to constrain students from acting pro-environmentally. This study highlights the need to encourage environmental behaviour in university residence settings by supporting the antecedents of and getting rid of barriers to pro-environmental actions.

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