Strategic aspects of enterprise financial stability management

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Kobryn L. Y. № 2 (61) 124-130 Image Image

The article presents a theoretical basis and developed practical recommendations for the need to improve the financial stability management system based on the application of a system approach.

The systems approach can be represented as the unity of the management structure and process in the development of financial strategy. Strategic management can streng­then the company’s position in the industry, maintaining and enhancing its long-term com­petitive position in the market.

Strategic management of financial stability is a system of measures aimed at ensu­ring the financial balance of the enterprise in the long run. It is based on the use of a model of sustainable economic growth of the enterprise, provided by the tools of its fi­nancial strategy. The aim of strategic management is to achieve a high level of financial stability and financial balance when changing the conditions of the external and internal environment. The strategic goals of financial stability management are related more to the direction of strengthening the company’s position in the industry, maintaining and enhancing its long-term competitive position in the market. Current goals are related to current activities and are set for current periods and aimed at increasing current financial stability and solvency.

As a part of the financial strategy development, companies are recommended to develop strategic, tactical and operational plans to increase financial stability, the essence of which is to restore strategic, current and operational financial balance.

Keywords: financial stability, strategy, management, development, enterprise, sys­tem, resources, efficiency, planning, analysis, evaluation, factors, market, competitiveness.

doi: 10.32403/1998-6912-2020-2-61-124-130

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