THE MECHANISM OF MANAGING THE FINANCIAL STABILITY OF THE ENTERPRISE
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 83)Publication Date: 2024-03-31
Authors : Dalyk Volodymyr; Tkach Stepan; Yakubets Marian; Paskiv Volodymyr; Koval Stepan; Demchuk Taras; Kondiuk Serhii;
Page : 25-30
Keywords : enterprise; financial stability of the enterprise; business environment; financial indicators; enterprise potential; business risks; management decisions; enterprise development;
Abstract
The purpose of the article is to investigate and reveal the issue that concerns the mechanism of managing the financial stability of the enterprise in modern conditions, in conditions of risk and uncertainty. It was found that the financial stability of the enterprise is determined by its ability to provide a sufficient level of financial resources for fulfilling obligations and development. Application of a balanced approach to financing, effective use of resources and risk management are key to maintaining stability and ensuring the further development of the enterprise. It is substantiated that in order to achieve the financial stability of the enterprise, it is necessary to implement an effective management mechanism, which includes the analysis of the financial state, planning and budgeting, working capital management, diversification of investments and sources of financing, as well as systematic monitoring and analysis of the effectiveness of strategies, which ensures the stability and success of the enterprise on the result in the long term. The conclusion is formulated that the successful management of the financial stability of the enterprise requires strategic thinking and flexibility in decisions from its managers, especially in conditions of uncertainty and risk. An effective business risk management strategy, including identification, prevention and minimization of negative consequences, is key to achieving sustainability. Updating financial strategies and flexibility in responding to changes help to maintain the stability of the enterprise in the most difficult conditions. Cooperation with experienced financial consultants can provide additional ideas and recommendations to support the financial stability of the enterprise. In the future, it is recommended to investigate the impact of financial planning and control on the stability of the enterprise, to analyze the effectiveness of financial instruments for managing liquidity and credit risk, to investigate capital and profit management strategies to ensure the stability of the enterprise. It is also important to consider the role of financial reporting and auditing, to investigate the impact of risk management and financial innovation on the sustainability of the enterprise, as well as to study the practices of financial sustainability management in various sectors of the economy.
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