FORMATION AND SYSTEMATIZATION THE STRATEGIES OF FINANCIAL AND ECONOMIC SECURITY OF BUSINESS
Journal Title: Сталий розвиток економіки - Year 2017, Vol 34, Issue 1
Abstract
Purpose – systematization of alternative strategies of financial and economic security of business with criteria of their classification and types and development of proposals for improving the strategic management procedures. Methodology of research. The research methods to achieve this goal are used: abstract logic (in the formulation of strategic alternatives implementation of financial and economic security), monitoring and comparison (in determining the trends and dynamics of the financial performance of business entities by economic activity), methods of classification and systematization (criterion when determining the characteristics and types of strategies entities), theoretical and empirical methods, analysis, synthesis, induction and deduction (for the study of the principles of forming the management strategy of financial and economic security). Findings. The author’s approach of systematize strategies for financial and economic security of business entities that will provide the basis for improving the overall algorithm development model of financial and economic security of business entities are proposed. The strategic alternatives, depending on the life cycle of the company, ownership structure and volume of corporate rights, financial stability, reliability, risks and threats are determined. Originality. Classification of financial strategies and economic security of business entitiesare improved. The new criterion features, such as: 1) the level of control of financial and economic security, 2) the method of identifying, preventing and responding to risks and threats, and 3) adaptation capacity and life cycle stage entity, 4) diversifying sources of financial entity, 5) the degree of financial risk, 6) the powers of shareholders and the amount of corporate rights and level of control, 7) relationship solvency and expected financial results are presented. Practical value. The approaches can be used to develop strategies for the development of businesses and determine the competitive position of the business entity, its place in the creation of added value in terms of economic activities. The results of research can serve as a basis for strategic planning, analysis, regulation and control in the study long-term objectives of the operation of businesses.
Authors and Affiliations
Оksana Kopylyuk, Olexandra Muzychka, Markiyan Bayik
Keywords
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