Anti-crisis financial management – component of industrial enterprise management

Abstract

In the course of the study, it was found that the factors of the internal and external environment produce a destabilizing effect on the activities of business entities. It has been established that anti-crisis financial management is a necessary attribute in overcoming the influence of negative factors and stabilizing the financial and economic activities of enterprises. On the basis of the conducted critical review, it was found that scientists consider anti-crisis financial management, on the one hand, as a separate direction of management, which is a set of financial methods for preliminary diagnostics and prevention of a financial crisis and aimed at effectively overcoming it, and on the other hand, as a component of the overall enterprise management. The place of anti-crisis financial management among such components as financial management of an enterprise and financial management of an enterprise is schematically determined, and interrelationships between them are established. A typical graph-tree of enterprise goals has been developed, which reflects the relationship of each stage of enterprise management by dividing them by the goals of the current level and outlined the tasks of anti-crisis financial management, the essence of which is to maintain a high level of liquidity and solvency indicators, ensure financial stability and financial balance of the enterprise, prevention of possible bankruptcy, formation of the structure of borrowed sources, and the like. It is proved that anti-crisis financial management should be considered in the context of a component of the general enterprise management system.

Implementation Feasibility of Enterprise Financial Controling

“…Factor analysis of deviations is a tool for assessing the performance of a cost centre. Timely monitoring and analysis of deviations in the course of the company's operations allows you to adjust the company's management system (Kostakova, 2021). The main purpose of factor analysis is to assess in detail the cause of the deviation and its subsequent evaluation.…”

“…The introduction of the financial controlling system at the enterprise will make it possible to increase the level of its liquidity, business activity, profitability, financial stability, increase the efficiency of the use of financial resources, improve the efficiency and quality of management decisionmaking, prevent emergence of crisis economic situations, identify the causes of financial problems and contribute to their effective elimination. The application of financial controlling in enterprise management requires the use of specific methods and tools (Kostakova, 2021).…”