ANTI-CRISIS FINANCIAL MANAGEMENT IN MODERN ENTERPRISES

Section "Economics": Problems of Enterprise Management

Abstract

The financial status in a lot of commercial organizations is getting negative trends in a modern conditions, thus on the first plan the questions of anti-crisis financial management as an effective anti-crisis management mechanism are raised. The critical financial situation that has developed in many domestic enterprises proves the impossibility of their existence without an appropriate management system and, first of all, anti-crisis. Therefore, the implementation of the modern concept of crisis management remains quite relevant. The article states that the usage of anti-crisis financial management of an enterprise is that measures to prevent a crisis should be carried out long before its occurrence. The importance of the anti-crisis manager in the enterprise management system as a tool to prevent or promptly respond to the threat of bankruptcy was investigated. The objective need to implement an anti-crisis strategy at the enterprise was proven. It was also determined that in order to ensure the enterprise continuous development, competitiveness, investment attractiveness and the construction of the right anti-crisis strategy, it is necessary to raise the question of the adequacy of the level of financial potential and its assessment. The financial stability indicators of PJSC "Turboatom": financial stability indicators, liquidity and solvency indicators, profitability indicators was analyzed; the financial potential was assessed using the Altman model, which helps to form an anti-crisis strategy and determine the degree of bankruptcy of the enterprise. In the absence of the anti-crisis management or an improperly formed system of its management, the enterprise is on the verge of bankruptcy: gradually deteriorating enterprise viability, no longer able to stay in balance, resource or enterprise opportunities for further development shortage appears. Thus, the use of an effective risk management system will be conducive to the restoration of solvency at the enterprise, and will also help reduce crisis phenomena at it.


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Keywords

enterprise, crisis situation, anti-crisis strategy, financial management, financial stability, Altman model

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References

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Published
2020-03-24