Implementation of strategic tools in the process of financial security management of industrial enterprises in Ukraine

Authors

DOI:

https://doi.org/10.15587/1729-4061.2022.254234

Keywords:

financial security management of the enterprise, regression model, hierarchy method, strategic map

Abstract

The results reported in this paper proved the need to develop strategic measures of the financial security management of enterprises. Approaches to understanding the essence of "management" and "financial security of an enterprise" concepts were analyzed; the author's vision of the essence of "management of the financial security of an enterprise" concept was generalized. Trends in the development of industrial enterprises were studied in order to identify the main indicators that determine the safety level of enterprises in the industry. Strategic directions in the financial security management of industrial enterprises were investigated. It was established that the construction of a regression model would allow an enterprise management to track the effect of deterministic factors on a change in the level of financial security of the enterprise and adjust the process of making managerial decisions related to the financial security of the enterprise. Given this, it became possible to build a tree of goals, which grouped and divided the strategic measures to manage the financial security of an enterprise. A strategic map was built, which reflected the relationship of all the processes at an enterprise and contributes to improving the level of management of the financial security of the enterprise. An expert study into the search for an optimal approach ensuring the financial security of an enterprise was conducted. It is confirmed that in order to improve the level of financial security management of an enterprise, it is necessary to optimize the trade and technological process in order to obtain maximum profit in the future, which could improve the state of all elements of the financial security management system of an enterprise. Thus, there is reason to assert that it is appropriate to define the strategic directions for managing the financial security of industrial enterprises by using regression and hierarchy models

Author Biographies

Pavlo Pronoza, Simon Kuznets Kharkiv National University of Economics

Doctor of Economic Sciences, Professor

Department of Finance

Tаtyana Kuzenko, Simon Kuznets Kharkiv National University of Economics

PhD, Associate Professor

Department of Finance

Nataliіa Sablina, Simon Kuznets Kharkiv National University of Economics

PhD, Associate Professor

Department of Finance

References

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Published

2022-04-28

How to Cite

Pronoza, P., Kuzenko, T., & Sablina, N. (2022). Implementation of strategic tools in the process of financial security management of industrial enterprises in Ukraine. Eastern-European Journal of Enterprise Technologies, 2(13 (116), 15–23. https://doi.org/10.15587/1729-4061.2022.254234

Issue

Vol. 2 No. 13 (116) (2022): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

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Copyright (c) 2022 Pavlo Pronoza, Tаtyana Kuzenko, Nataliіa Sablina

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