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Financial strategy as a guarantee of the economic security of the enterprise

Author

Listed:
  • Natalia Protopopova
  • Natalya Andryeyeva
  • Levan Gvarishvili

Abstract

The aim of the research is to study the practice of forming a financial strategy within the framework of the organization's economic security system and to develop directions for its improvement. The scientific novelty of the study consists in the justification and development of a complex of theoretical and methodological provisions regarding the formation of a financial strategy within the framework of the economic security system of commercial organizations. The theoretical significance of the results consists in the comprehensive study of the process of developing the company’s financial strategy, which can serve as a basis for further scientific developments in this direction. The practical significance of the research consists in the use of the financial strategy methodology within the framework of the economic security of commercial organizations. Application of the proposed methodology will allow organizations to conduct financial policy in the most efficient manner. Analyzing theoretical provisions, methodological approaches and practical recommendations for the justification of the company’s financial strategy, certain results can be obtained. Firstly, defined financial strategy as a part of the general (integrated) strategy of the enterprise, a system of forming priority financial goals of the enterprise through effective attraction and use of financial resources, coordination of their flows, ensuring the necessary level of financial security based on continuous accounting of changes in external and internal environmental factors. Secondly, the structure of the financial strategy, its recommended program for organizations was developed; Finally, justified measures to ensure the process of developing a financial strategy by enterprises, which contribute to increasing the level of its demand and the degree of effectiveness of implementation, consisting in the improvement of current legislation, the creation of special systems within the enterprise

Suggested Citation

  • Natalia Protopopova & Natalya Andryeyeva & Levan Gvarishvili, 2022. "Financial strategy as a guarantee of the economic security of the enterprise," Philosophy, Economics and Law Review Articles, Philosophy, Economics and Law Review, vol. 2(2), pages 120-127, December.
    • Handle: RePEc:cxt:phelrj:v:2:y:2022:i:2:p:120-127
    DOI: https://doi.org/10.31733/2786-491X-2022-2-120-127
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    References listed on IDEAS

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    1. Tetyana Kadylnykova & Svyatoslav Savkin, 2021. "Increasing the efficiency of managing the financial results of market activities," Philosophy, Economics and Law Review Articles, Philosophy, Economics and Law Review, vol. 1(1), pages 37-42, March.
    2. Nataliia Uvarova & Oleg Mikhalskyi & Igor Bohdaniuk, 2018. "Lawmaking Issues In The Regulation Of Financial Relations," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 4(4).
    3. Lyudmila Rybalchenko & Eduard Ryzhkov & Serhiy Ohrimenko, 2021. "Modeling economic component of national security," Philosophy, Economics and Law Review Articles, Philosophy, Economics and Law Review, vol. 1(1), pages 25-36, March.
    4. Tetiana Kolomoiets & Nelli Tsybulnyk & Oleksandr Moroz & Vitaliy Prymachenko & Vadym Khashev, 2021. "Influence of shadow economy legalization on national security of Ukraine," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(3), pages 420-437, March.
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