THE INFLUENCE OF THE CORONAVIRUS CRISIS ON THE ASSOCIATION OF ENTERPRISES IN UKRAINE

Keywords: COVID-19 coronavirus epidemic, coronavirus crisis, business combinations, consolidated business, economic support.

Abstract

Brought, that the reaction of integrated business to the impact of the coronavirus crisis has its own characteristics due to its economic nature. Most modern associations of enterprises have an extensive network, the structure of enterprises united in consolidated groups can cover the whole of Ukraine, as well as go beyond state borders, so in some quarantine zones economic activity almost stops, in others – to be carried out normally. The large scale of business associations, their strong financial, labor and other resources, make integrated business somewhat “clumsy” and vulnerable to the effects of the coronavirus crisis, but the same features provide consolidated businesses the potential to adapt to new realities of economic activity. The article identifies the nature of the impact of the coronavirus crisis on the development of modern business associations in Ukraine, substantiates the possibilities of overcoming the crisis in the economy caused by COVID-19, by consolidating the efforts of Ukrainian business to solve this large-scale problem. The main directions of counteraction of consolidated associations of enterprises to the crisis are investigated, namely: 1) care for employees; 2) creation of a response headquarters 24/7; 3) supply chain support; 4) care for the community. Positive examples of consolidated business assistance to communities are given. It is substantiated that modern associations of enterprises in Ukraine, which have financial opportunities, need to direct them to the modernization of their production facilities, re-profiling activities on an innovative basis. Due to the limited cross-border cooperation, integrated business entities can focus on the domestic market, which will only strengthen the Ukrainian economy in the strategic perspective. Consolidated business support for social programs and research aimed at overcoming COVID-19 should become a mandatory component of corporate social responsibility, which will contribute to the recovery of both the business environment and society as a whole.

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Published
2020-12-30
How to Cite
Lynenko , A. V. (2020). THE INFLUENCE OF THE CORONAVIRUS CRISIS ON THE ASSOCIATION OF ENTERPRISES IN UKRAINE. Bulletin of Zaporizhzhia National University. Economic Sciences, (4 (48), 77-81. Retrieved from http://journalsofznu.zp.ua/index.php/economics/article/view/1776
Section
Theoretical and applied aspects of economic processes in Ukraine and in the worl