ANALYSIS OF METHODICAL APPROACHES TO MEASURE ENTERPRISE`S ECONOMIC SECURITY

Keywords: development, business security, financial indicators, resources, reserves.

Abstract

Business security means its continuous, balanced and sustainable development ensured by the effective application of all types of available resources, and reflected in the upward trends of economic and financial indicators. It has been proved that the system of indicators which determines enterprise`s economic security is diversified, complicatedly organized, though the variety of indicators is not always informative. Economic indicators are closely interrelated. Therefore, only their systematic definition can provide a true picture of business` economic threats. It has been identified that there are different approaches to assess threats to enterprise`s economic security in scientific literature. The main are the indicator and resource-functional approaches. It has been determined that the main disadvantages of the first approach are a substantial number of indicators, difficulties to measure their marginal values, not taking into account changes of external and internal environment. It has been specified that nowadays application only of the resource-functional approach to assess business` economic security is irrational, since the security itself is defined as the ability of an enterprise to face threats and ensure its development in the future. It has been stated that it is necessary to assess threats to enterprise`s economic security not only in cases of economic hardship, but also in order to forecast, avoid, effectively and rationally use its economic capacity.

The main challenges of enterprise`s economic threats assessment are to reveal trends and patterns in business development in the period under study, identify unfavorable fields of financial and economic activities and their impact on enterprise`s economic security, find out the reserves that could be used to strengthen it.

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Published
2020-09-25
How to Cite
Bugay , V. Z., Gorbunova, A. V., & Dibrova, V. O. (2020). ANALYSIS OF METHODICAL APPROACHES TO MEASURE ENTERPRISE`S ECONOMIC SECURITY. Financial Strategies of Innovative Economic Development , (3 (47), 20-24. Retrieved from http://journalsofznu.zp.ua/index.php/economics/article/view/1403