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Financial security of enterprises: characteristics, components, main threats and dangers

Author

Listed:
  • Inna Makarchuk

    (Hryhoriy Skovoroda University in Pereyaslav)

  • Vitalina Malyshko

    (Hryhoriy Skovoroda University in Pereyaslav)

  • Liudmyla Yaremenko

    (Hryhoriy Skovoroda University in Pereyaslav)

Abstract

The planning of the development of socio-economic systems has always been at the epicenter of attention of scientific representatives, and its conceptual basis was founded in the works of R. Braley, S. Myers, R. Ackoff, M. Powcock, A. Taylor. Separate methodological, organizational and methodological aspects of the financial security of enterprises are studied by foreign scientists, such as J. Siegel, R. Curtis, F. Li Cheng, J. Finnerty, Jai K. Shim, Ukrainian scientists, the main ones are: A. G. Belaya, O. V. Arefieva, I. T. Balabanov, I. A. Blank, Yu. M. Vorobyov, T. A. Kirsanova, V. M. Grineva, V. V. Kovalev, L. A. Ligonenko, G. A. Kramarenko, E. S. Stoyanova, L. A. Shvaiko, O. E. Chernaya, V. M. Sheludko and others. In conditions of financial instability of the national economy, the volatility of transformation processes, the emergence of financial and economic imbalances and uncertainty begins. Consequently, the efficiency of the functioning of the financial system, both at the macro and micro levels, is unsatisfactory and in modern conditions is characterized by numerous shortcomings, problems and contradictions. For the effective functioning of enterprises, it is necessary to increase the level of their financial security. Improper attention to the process of managing financial security in an enterprise leads to the emergence and development of crisis phenomena, complicates the process of getting out of them and hinders the process of economic growth of enterprises. In addition, in conditions of a low level of financial security, the financial stability, competitiveness and financial independence of business entities are deteriorating. Therefore, the key to the progressive development of the enterprise and the main prerequisite for its stable operation is the development of an effective system for assessing the level of financial security of the enterprise, the study of the main risks, dangers and threats that can affect the state of its financial security, and subsequently the formation of a strategy for managing the financial security of the enterprise. Therefore, the problem of managing the financial security of a business enterprise remains relevant. The purpose of writing this article is a theoretical substantiation of the main threats to the financial security of enterprises and the advisability of introducing the necessary measures to minimize existing risks and threats. The subject of the study is a set of theoretical and methodological approaches to assessing the level of enterprise security and identifying ways to strengthen it.

Suggested Citation

  • Inna Makarchuk & Vitalina Malyshko & Liudmyla Yaremenko, 2023. "Financial security of enterprises: characteristics, components, main threats and dangers," University Economic Bulletin, Hryhorii Skovoroda University in Pereiaslav, Faculty of Financial, Economic and Vocational Education, issue 56, pages 183-193, March.
  • Handle: RePEc:aff:colart:y:2023:i:56:p:183-193
    DOI: https://doi.org/10.31470/2306-546X-2023-56-183-193
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