Abstract

content

• Introduction
• The goal, subject and object of study
• Approaches to the management of financial security in an unstable economic situation
• Conclusions
• References

Introduction

Before every enterprise a task stands to ensure the stable functioning and achievement of the main objectives of the activity. This results in an objective need for continuous compliance with the appropriate level of financial security of the enterprise.

The main instrument for achieving financial security, economic growth and competitiveness is a very serious work, which is carried out by managers of the company and the relevant departments. In particular, an important place among the factors of successful activity of the company is the timely transformation of the working capital of the material in the form of money and vice versa. Even the most efficient company will not be able to stay afloat without a living and sustainable cash flow [1, p.4].

All administrative decisions in the field of the protection of the financial interests of the enterprise from internal and external threats are closely interconnected and have a direct or indirect impact on its financial performance [5].

The goal, subject and object of study

The goal of this scientific research is the disclosure of financial security concept of the enterprise and to consider the main approaches to manage it in an unstable economic situation.

Object of research: methods of analysis of enterprise financial security.

Subject of research: the financial condition of the industrial enterprise.

Approaches to the management of financial security in an unstable economic situation

The control system of financial security of the enterprise is a set of interrelated elements for establishing and maintaining an optimal level of financial security. [15, p.6].

The structure of the financial mechanism of the enterprise security management include the following main constituent elements: the objects and subjects of management, the financial interests of the company, functions, principles and methods of management, organizational structure, regulatory support, information provision, and the like. All of the components of the controls together constitute the financial security management mechanism [2].

Subjects of financial security management are the owners, the company's management and financial management. Conducting analytical studies, both internal and external environment of the enterprise, they develop proposals to prevent financial problems.

According to [7, p.7; 5] an important aspect of the study of the mechanism of financial management is the enterprise security analysis of this mechanism functions. By the functional structure of the financial mechanism of security management include the following basic control functions:

Financial security of the enterprise management strategy should include the following components [5; 6]:

The main content of the process of crisis management now is the preparation, adoption and implementation of administrative decisions on the prevention of financial crises, overcome them and minimize the negative effects..

The process of financial management of the enterprise security can be divided into the following stages [17, p.71; 7, p.285]:

1. The development of a system of financial interests;

2. Financial analysis of the enterprise security threats;

3. The assessment of the financial security of the enterprise.

Financial Management by means of certain techniques and management principles [16, p.288]. The mechanism of management of enterprise financial security includes techniques such as: administrative, economic, organizational, technological, institutional, information, social and psychological.

According to [10, p.257]govern the financial security of the enterprise in the conditions of economic instability is to select the optimal strategy. Such strategies must be at least three according to three levels of economic instability:

low level: development strategy;

middle level: stability strategy;

high level: reduction strategy.

Conclusions

The general model of the normal development of the enterprise financial prerequisites consists of two integral and interrelated components: financial stability and sustainability of the enterprise and its economic security.

The mechanism of management of financial security of the enterprise is a sequence of actions to ensure the financial security of the enterprise. Its main elements are: the definition of security needs and capabilities, as well as the organizational and economic mechanism, formulation of objectives and security objectives. The implementation of the developed measures achieves its goals.

Ensuring financial security of the company – one of the basic conditions for its stability, success and long life.

References