Innovative management – modern anti-crisis management

Abstract

The definition of innovative management as a tool of anti-crisis management is researched in this article. The main tasks of modern anti-crisis management are constant monitoring and forecasting of the external and internal risks impact, which may negatively affect the company's activities and cause its crisis. The basic factors of the enterprise crisis are formulated in the conditions of martial law. Also, the key methods and tools of anti-crisis management are listed. Taking into account the variety of crisis occurrence and the multivariate nature of their manifestation, it is possible to use different methods of anti-crisis management both in relation to individual parameters of the crisis and to the crisis situation as a whole. The methods of the first group are tactical methods, aimed at quickly improving the company's financial indicators and overcoming the consequences of the crisis: downsizing, sanitation, monitoring, controlling. However, in most cases, these methods are not enough to eliminate the main cause of the crisis, which requires using of longer-term activities. Namely, the application of strategic methods: diversification, regularization, reengineering, restructuring, merger, liquidation, modernization. The examples of innovations, which are using by companies in various crisis situations, the ways of crisis overcoming and the obtained results are studied. In addition, there are presented the research of the CEOs readiness for innovative activities during the business activity decrease and dynamics of changes in the innovation index of world countries during the periods of the crisis. The priority actions, advantages and disadvantages of innovative management as a tool of anti-crisis management are determined. It is noted in conclusion, that innovative management is an important component of anti-crisis management. The process of innovation implementation has advantages and disadvantages and in practice, the development of innovative activity is significantly reduced during a recession. However, the analysis of crisis overcoming examples proves, that innovative management in a complex with anti-crisis management is able not only to help cope with the crisis, but also to stimulate sustainable development in the future. Now, more than ever before, the future of most Ukrainian companies depends on making the right strategic decisions, internal transformation, skillful anti-crisis management combined with innovation, clear assessment and analysis of risks, building a stable platform for further growth using new opportunities.