Dynamics of Development of Financial Safety of the Enterprise as a Complex Economic Security of the State

Abstract

The purpose of the paper is to the performance of the evaluation of the financial safety of the enterprise. To achieve the stated aim it has been necessary to solve the following tasks: to use the approaches as to the evaluation of the financial safety of the enterprise, to introduce the analysis system of the financial safety of the enterprise, to consider the structural logical scheme of the analysis procedure of the financial safety of the enterprise, to give the description of the integral indicator of the financial safety of the enterprise; to evaluate and compare companies in the paltry industry according to the level of their financial safety. Methodology. Methodologial basis of the research are the scientific methods, such as : method of logical generalization, dialectical method of recognition of the economic phenomena -to give the definitions of «economic security of the enterprise», «financial security of the enterprise», grouping method, analysis which were used to estimate indicator position of the financial security of the poultry company, graph method which was applied to compare integral estimation of the enterprise;methods of synthesis, deduction, induction, method of the expert estimation to calculate and implement integral marker of the financial security of the poultry company;method of the correlation analysis which was used to identify weight coefficients of the all sided figures of the solvency , business activity, profitability, financial steadiness, pay ability. The priority in methods using was defined by the particular tasks and goals. Results of the research showned into a wide set of the ways of financial enterprise safety as a component of economic security of the state. There is an evaluation of enterprise financial safety on the basis of calculations of integral indicator, including combined indices of profitability (unprofitability), pay ability or the lack of that, business activity (fading), financial steadiness (unsteadiness), efficiency (inefficiency) of the property state. Finally, the given work presents the system of financial safety of the enterprises, including the agents of financial security and subsystems of management to provide financial safety of the enterprises. Practical implications. The given methodology of the integral estimation of the enterprise financial security on the basis of all sided markers of the profitability, financial steadiness , business activity has been implemented successfully into production Joint Venue 'Kyiv Poultry Farm' . Value/originality calculations are done on the basis of the introduction of the personal formula of the integral estimation of the financial security of the enterprise as a component of economic security of the state

Practical Aspects of the Use of Antisipative Management in the Process of Ensuring the Economic Security of an Enterprise

“…Antisipative management in the process of ensuring the economic security of an enterprise can be defined as purposeful activity, provides for the early identification of potential changes in the external and internal environment on the basis of weak signals and the formation on this basis of a multivariate scenario, which reflects the totality of probable ways of development of possible events and a set of alternative protective measures adequate to them , in order to make an optimal management decision aimed at overcoming threats or using new competitive opportunities to continue functioning and achieve strategic goals (Ganushchak, 2017).…”

“…They emphasize the importance of using this type of control to gain a competitive advantage in a dynamic and highly turbulent environment. Harper and Glew (2008) and Ganushchak (2017) emphasize that antisipative management is aimed at identifying threats and opportunities in the external environment in order to protect the enterprise from potential hazards or reduce their impact. In addition, the authors argue that antisipative management involves not only identifying opportunities but also the operational ability to take advantage of them in a competitive environment.…”

Financial Security of the Enterprise: An Alternative Approach to Evaluation and Management

“…Two key approaches to defining the nature of an enterprise economic security are highlighted in the current professional literature, which can be divided into two groups: as one of the components of an enterprise economic security (Yermoshenko & Horyacheva, 2010;Delas et al, 2015;Vergun & Topenko, 2016;Ganushchak, 2017;Blakyta & Ganushchak, 2018) and as an independent subject of financial management (Baranovs'kyy, 2004;Blank, 2004;Donets & Vashchenko, 2008;Koleda & Lāce, 2008;Davydenko, 2015;Bilomistniy et al, 2017;Rushchyshyn et al, 2017;Britchenko et al, 2018;Ramskyi & Solonko, 2018;Sylkin et al, 2018Sylkin et al, , 2019Sylkin et al, , 2020.…”

“…Authors, which assessing the financial security of the enterprise based on the overall financial state of an enterprise, that is calculates and analyses key groups of financial indicators: profitability, business activity, solvency, financial stability, the efficiency of cash flow management (Blank, 2004;Delas et al, 2015;Yeletskykh, 2017;Pera, 2017;Kharchuk et al, 2020). Ganushchak (2017), Khudoliei (2018), Azarenkova et al (2018), Kosaynova et al (2019), Kharchuk et al (2020) offer to assess the financial security of the enterprise based on the definition of a generic integral measure of the financial security of an enterprise, based on the use of the different set of financial indicators and the determination of the relevant weights (limit values) for each of them. Valaskova et al (2020) and Sylkin et al (2018Sylkin et al ( , 2019Sylkin et al ( , 2020 use to diagnose the financial security of the enterprise classical methods of assessing the probability of bankruptcy, but modify and improve them.…”

“…The main approaches to estimating the level of financial security of the enterprise, which are currently presented in the professional literature -are the coefficient, which involves the calculation of a set of financial indicators (Delas et al, 2015;Yeletskykh, 2017;Pera, 2017;Kharchuk et al, 2020); integrated, based on the definition of an integrated indicator of financial security (Ganushchak, 2017;Khudoliei, 2018;Azarenkova et al, 2018;Kosaynova et al, 2019;Kharchuk et al, 2020); based on the diagnosis of the probability of bankruptcy (Valaskova et al, 2020;Sylkin et al, 2018Sylkin et al, , 2019Sylkin et al, , 2020Koleda & Lāce, 2008;Bilomistniy et al, 2017;Britchenko et al, 2018;Nguyen & Nguyen, 2020;Franchuk et al, 2020). There are also several author's methods for assessing financial security: Hryhoruk et al (2019) -model for assessment of the financial security level of the enterprise based on the desirability scale; Zwolak (2017) -empirical model based on the Cobb-Douglas power function.…”