ANTI–CRISIS FINANCIAL MANAGEMENT AS A METHOD FOR PREVENTING BANKRUPTCY BY ENTERPRISE
Journal: International Scientific Journal "Internauka" (Vol.1, No. 81)Publication Date: 2020-01-15
Authors : Khrynyuk Oleksiy; Agapova Anna;
Page : 23-28
Keywords : anti-crisis financial management; financial condition; financial policy in the field of anti-crisis management; bankruptcy; anti-crisis management system;
Abstract
At the present stage of development of our society in the period of difficult economic relations the transition to a market economy has caused the emergence of a new concept for our financial policy — bankruptcy of the enterprise. In Ukraine, there has been a recent deterioration in the financial situation of small and medium-sized enterprises, which is due to a number of reasons: the instability of the economic and political situation in the country, rising inflation, rising unemployment, and so on. The existence of businesses in these conditions on the market without a proper management system becomes critical. Therefore, the relevance of this topic is the need to develop an effective system of crisis management using financial instruments to prevent bankruptcy of the enterprise. The main purpose of the article is to highlight the crisis management system and justify the importance of using financial methods to prevent bankruptcy at the enterprise. The article defines the essence of the anti-crisis management system, its main purpose of formation, the sequence of actions to improve the anti-crisis management for its effective execution on the basis of the main tasks. The basic stages of the process of implementation of the anti-crisis financial plan of the enterprise development are analyzed, as well as the main elements at each stage, the theoretical foundations of financial policy and the essence of its mechanism in the field of anti-crisis management are outlined. As a result of the analysis of the above, the priority goals of enterprises within the framework of crisis management are indicated. The importance of applying a financial strategy for removing a company from a crisis and regulating the influence of external and internal environmental factors is highlighted.
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