The dissertation is dedicated to the exploration of theoretical, methodological foundations, and the development of practical recommendations for establishing a mechanism of crisis management in enterprises.
In recent years, most enterprises in Ukraine have experienced negative financial outcomes, indicating issues within their operations linked to both internal and external influencing factors. In 2020, the COVID-19 pandemic triggered an unprecedented economic crisis in all countries. In 2022, due to a full-scale war, a significant number of enterprises were compelled to reduce their activities because of the loss of physical assets, decreased demand, and the unpredictability of the situation. The instability of domestic enterprises' functioning in a constantly changing market environment necessitates the development and implementation of an effective crisis management mechanism capable of predicting, overcoming, and preventing crisis threats within the enterprise.
The scientific novelty of the research results lies in the improvement of existing and the development of new theoretical and methodological principles and scientific-methodological approaches to the formation of an effective mechanism for crisis management in enterprises.
This dissertation presents a methodological approach for assessing the probability of bankruptcy in large Ukrainian enterprises using logit analysis. A logit model has been developed based on an up-to-date statistical sample of Ukrainian enterprises, taking into account specific statistically significant financial and economic indicators that have the most significant impact on bankruptcy probability. The results of validation demonstrate a high predictive quality of the model.
The concept of «crisis management of an enterprise» has been refined, defining it as a comprehensive management system aimed at identifying, preventing, and overcoming crisis phenomena in enterprise activities through the development and implementation of a crisis exit mechanism, which involves the use of relevant tools and procedures.
The author has provided an original classification of crisis management methods, which includes operational methods (diagnostics, monitoring, controlling), tactical methods (outsourcing, benchmarking, regularization, modernization, diversification, mergers, reengineering, downsizing), and strategic methods (rehabilitation, restructuring, bankruptcy).
Furthermore, the concept of «architecture» within the context of crisis management has been enhanced. Architecture is defined as a system that encompasses the description of key elements and their interconnections. Based on this, a general architecture for the crisis management mechanism has been formulated.
The dissertation proposes a diagnostic framework for assessing the financial and economic health of micro, small, medium, and large business entities. Specifically, for micro and small enterprises, it suggests performance indicators based on minimal data requirements and simple calculations, while for medium and large enterprises, a comprehensive assessment is conducted using coefficient analysis, probability of bankruptcy models (including the author's own development), and value-oriented indicators analysis.
Recognizing the limited attention given by researchers to crisis management in small businesses, this dissertation presents a crisis management system tailored to micro and small business entities, referred to as «urgent crisis management».
This dissertation presents scientific and methodological approaches to the development of a crisis management mechanism for enterprises. The approach takes into account the specificity of crisis management in enterprises of all sizes and the depth of crisis processes. It involves diagnosing and assessing the probability of a crisis, justifying the selection and formulation of a strategy and program to overcome crisis phenomena, implementing methods and measures, and evaluating the effectiveness of these measures.
The author introduces original scientific and methodological approaches for justifying the choice of crisis management strategies based on the depth of crisis phenomena and the results of a logit model for assessing the probability of bankruptcy.
The dissertation also addresses the theoretical, methodological, and practical aspects of crisis management for enterprises in conditions of war and armed conflicts. It highlights the differences between a traditional crisis and a crisis during wartime. The research explores four phases of enterprise functioning during wartime and the unique characteristics of crisis management during each phase.
Keywords: crisis, recession, management, mechanism, crisis management, crisis management mechanism, risk, entrepreneurship, enterprise, financial management, evaluation, diagnosis, bankruptcy, model, strategy, anti-crisis measures, business, small business, medium business, large business, COVID-19 crisis, war.
