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Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.3, No. 55)

Publication Date:

Authors : ; ;

Page : 86-92

Keywords : crisis; corporate governance; anti-crisis strategy; anti-crisis management; financial management;

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New challenges caused by the COVID-19 have actualized the neсcessary to rethink the use of mechanisms for the crisis management functioning in corporations, which are the main driving forces of the economy and set the change vector in business activity. Anti-crisis management is a comprehensive model of preventive management, acting to neutralize or mitigate crisis situations. The article considers the concept and practice of crisis management in corporations, outlines the main stages and crisis management strategies research in the world, makes their comparative analysis. The article substantiates that one of the ways to improve the enterprise financial condition is to choose the right anti-crisis strategy, which will ensure the reduction of financial problems, the bankruptcy risks and enterprise liquidation, as well as to coordinate management decisions with practical actions, which will highlight the priority problems and provide improvement in crisis. It is proved that the use of anti-crisis measures should be comprehensive and continued research is mandatory. It is established that the positive results achievement of the use of crisis management tools can be ensured with their purposeful coordination between the employee and the manager, a clear sequence of tasks, the urgency of decision-making, etc. The practical importance of crisis management using is to optimize the economic nature of its use, which can be found by continuous monitoring of the enterprise environment using a systematic approach, methods of strategic analysis and control. This article analyzes the crisis management features in business and concludes about the mechanism of using crisis management to obtain the desired business results. It is concluded that the choice of one or another crisis management strategy, as well as its success depends on specific conditions, the analysis of which should be paid special attention. The effectiveness of crisis management is determined not by how successfully the management of the enterprise managed to prevent the crisis, but by how well the organization was prepared for it.

Last modified: 2022-01-12 20:42:16