Development of the strategy for ensuring the financial security of the enterprise

Abstract

Significant changes in external factors and increased competition between market participants require enterprises to use new approaches to increase the efficiency of realizing their capabilities and resources. Under such conditions, forming an effective strategy plays a vital role in enterprise management, as it ensures stable development and allows one to assess one's competitive advantages in the market. Stages of forming the strategy for ensuring the financial security of enterprises are proposed. It is outlined that the process of creating the plan for ensuring the financial security of the enterprise includes the following: such components as diagnostics and forecasting of the financial protection of the enterprise; strategic and tactical planning; selection of adequate financial instruments (within investment decisions made); financial risk management; tax planning; organizational and legal registration and further control of financial flows. The system of choosing the strategy for ensuring the financial security of the enterprise was built based on the use of the analysis method of hierarchies. This made it possible to determine the strategic, and operational goals of the enterprise's development, to analyze in detail the available resources, the functional interaction of these resources, and the directions of the enterprise's development. This approach defines management goals and priorities along with tasks to ensure the necessary level of enterprise development. The process of involving independent experts for the selection of assessment for ensuring the financial security of the enterprise will allow to track the trends in the implementation of specific initiatives clearly and to direct efforts towards their achievement. The scientific novelty of the obtained results is as follows: the decision-making process regarding the selection of the strategy for ensuring the financial security of the enterprise has been improved due to the analysis of the intensity of the influence of system elements on the indicators of the financial protection of the enterprise. The expected results of the chosen strategy should be an increase in the company's income, the number of jobs, revenues to local budgets, and the development of infrastructure in the region. Keywords: enterprise, financial security, strategy, provision, MAI, hierarchical model.