Formation of anti-crisis management strategy of machine-building enterprises of the Zaporizhia region.

Alla Cherep
Doctor of Economics, Professor of Finance, Banking and Insurance Department, Zaporizhzhia National University, Ukraine, e-mail:cherep.av.znu@gmail.com, ORCID ID:https://orcid.org/0000-0001-5253-7481

Anna Pavlenko
Graduate student of Economics Faculty, Zaporizhzhia National University, Ukraine, e-mail:ann2606@ukr.net, ORCID ID:https://orcid.org/0000-0002-9235-5380

Cite this article:

Cherep, A., Pavlenko, A. (2018). Formation of anti-crisis management strategy of machine-building enterprises of the Zaporizhia region. Ed.: M. Zveryakov (ed.-in-ch.) and others [Formuvannia stratehii antykryzovoho upravlinnia pidpryiemstv mashynobuduvannia Zaporizkoi oblasti; za red.: М. I. Zveriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 1 (65), pp. 161‒173.

Abstract

The article describes approaches to interpreting the concept of the enterprise crisis management. The general aspects of crisis management are outlined, the types of crises are distinguished, the essence of the concept «anti-crisis management» is studied. Trends of development of machine building enterprises of Zaporizhia region are considered. The necessity of introduction of crisis management at the enterprises with the purpose of overcoming of their unprofitability, and also providing of sustainable development is substantiated. The current state of crisis management of enterprises is investigated. It is also determined that in the conditions of the global financial crisis enterprises of mechanical engineering are characterized by further fall in the main indicators of financial and economic activity. The main causes of the crisis are defined: capital and technology shortages, limited access to lending and high interest rates, non-diversification and export-orientation to external markets, market entry of cheaper and more qualitative imported products and, consequently, decrease in production. The conceptual framework for the formation of the anti-crisis management mechanism, which provides for the application of functional, system, process, target, situational, adaptive approaches are proposed. Together they allow to form anti-crisis measures at all levels of enterprise management, depending on the depth of crisis phenomena and to assess its anti-crisis potential.

Keywords

crisis; diagnostics; liquidity; strategy; enterprises of mechanical engineering; anti-crisis management; financial sustainability; stability.

JEL classification: L600; O100; O200; O300; DOI: https://doi.org/10.33987/vsed.1(65).2018.161-173

UD classification: 005.93:005.21:621(477.64)

References

1. Adonin, S. (2011). Theoretical approaches to building an enterprise crisis management system [Teoretychni pidkhody do pobudovy systemy antykryzovoho upravlinnia pidpryiemstvom], Ekonomichnyi analiz, Vyp. 8, Ch. 2, s. 19‒22 [in Ukrainian]
2. Bahatskyi, V. M., Hetmantseva, N. D. (2007). Anticrisis management of the enterprise. Ed. by Z. Ye. Shershneva [Antykryzove upravlinnia pidpryiemstvom; za red. Z. Ye. Shershniovoi], KNEU, Kyiv, 680 s. [in Ukrainian]
3. Belinskyi, P. I. (2004). Management of financial activity in operational management [Upravlinnia finansovoiu diialnistiu v operatsiinomu menedzhmenti], Ruta, Chernivtsi, 72 s. [in Ukrainian]
4. Bulovych, T. V. (2010). Sanation potential as a prerequisite for enterprise survival [Sanatsiinyi potentsial yak peredumova vyzhyvannia pidpryiemstva], Stalyi rozvytok Ukrainy, No. 2, s. 64‒68 [in Ukrainian]
5. Vera, G. K. Manufacturing, operational and financial cycles of the organization [Proizvodstvennyy, operatsionnyy i finansovyy tsikly organizatsii], available at: http://www.elitarium.ru/2013/06/26/proizvodstvennyj_operacionnyj_finansovyj_cikly [in Russian]
6. Dmytrenko, A. I. (2009). Strategies of anti-crisis activity of industrial enterprises [Stratehii antykryzovoi diialnosti promyslovykh pidpryiemstv], Visnyk Kryvorizkoho ekonomichnoho instytutu KNEU, No. 4 (20), s. 49‒53 [in Ukrainian]
7. Dudukalo, H. O. (2011). Key aspects of forming an effective enterprise management mechanism [Kliuchovi aspekty formuvannia efektyvnoho mekhanizmu upravlinnia pidpryiemstvom], Suchasni pidkhody do upravlinnia pidpryiemstvom: materialy II naukovo-praktychnoi konferentsii studentiv, aspirantiv ta molodykh vchenykh, Kyiv, 28 kvitnia 2011 roku, s. 68 [in Ukrainian]
8. Zanora, V. O. (2011). The state of the machine-building industry enterprises of Ukraine [Stan pidpryiemstv mashynobudivnoi haluzi Ukrainy], Stalyi rozvytok ekonomiky. Ekonomika ta upravlinnia natsionalnym hospodarstvom, No. 3, s. 37‒41 [in Ukrainian]
9. Kartokhina, N. V. (2008). Evaluating the effectiveness of anti-crisis solutions [Otsinka efektyvnosti antykryzovykh rishen], Problemy systemnoho pidkhodu v ekonomitsi, Vyp. 4, available at: http://www.nbuv.gov.ua/e- journals/PSPE/index.html [in Ukrainian]
10. Kvasnytska, R. S., Kordonets, I. M. (2011). The stage of the diagnostics of crisis situation and the probability of the enterprise bankruptcy [Etapnist provedennia diahnostyky kryzovoho stanu ta imovirnosti bankrutstva pidpryiemstva], Visnyk Khmelnytskoho natsionalnoho universytetu, No. 2, T. 3, s. 130‒134 [in Ukrainian]
11. Concept of the national target economic program development of industry for the period till 2020 [Kontseptsiia zahalnoderzhavnoi tsiliovoi ekonomichnoi prohramy rozvytku promyslovosti na period do 2020 roku], available at: http://industry.gov.ua/static/promuslova-polituka- ukainu/info-pravovi-aktu [in Ukrainian]
12. Korotayeva, Yu. (2012). Prospects and problems of machine building [Perspektyvy ta problemy mashynobuduvannia], Sotsialno-ekonomichni problemy i derzhava, Vyp. 1 (6), s. 82‒90, available at: http://sepd.tntu.edu.ua/images/stories/pdf/2012/12kyvtpm.pdf [in Ukrainian]
13. Official site of the State Department for Bankruptcy of the Ministry of Economy of Ukraine [Ofitsiinyi sait Derzhavnoho departamentu z pytan bankrutstva Ministerstva ekonomiky Ukrainy], available at: http://sdb.gov.ua/control/uk/publish/article?art_id=47511&cat_id=38904 [in Ukrainian]
14. Official site of the Ministry of Justice of Ukraine [Ofitsiinyi sait Ministerstva yustytsii Ukrainy], available at: http://www.minjust.gov.ua [in Ukrainian]
15. Pohrebniak, A. Yu. (2014). Comparative analysis of methods for assessing the probability of bankruptcy in the system of crisis management at the enterprise [Porivnialnyi analiz metodyk otsinky imovirnosti bankrutstva v systemi antykryzovoho upravlinnia na pidpryiemstvi], Biznes Inform, No. 7, s. 344–352, available at: http://nbuv.gov.ua/UJRN/binf_2014_7_61 [in Ukrainian]