MANAGEMENT OF ECONOMIC SECURITY OF ENTERPRISES SYSTEM IN THE CONDITIONS OF COVID-19

Abstract

Purpose. The purpose of the article is to prove the interdependence of economic security of public catering establishments from the adoption of anti-crisis decisions by the heads of such establishments in the conditions of Covid-19 and their support by public authorities. This approach will help create opportunities for public catering establishments, attract innovation, etc., but also find effective ways to adapt their business to non-standard conditions, taking into account the components of economic security in the context of the Covid19 pandemic. Design/methodology/approach. The structure of the economic security system of public catering establishments is characterized, which is a set of various measures to protect all functional components from possible risks (internal and external), requires a system-integrated approach taking into account the objects of protection, use of safety and available protection resources. The anti-crisis management mechanisms of the economic security of enterprises are structured. We envisage the presence of the following elements: organizational structure, indicators, and evaluation criteria, as well as management mechanisms aimed at using regulatory and legal support of economic security of enterprises, tools, and levers; information support; methods of provision; functions of the organization, management and implementation of effective forms and methods of construction and development of economic security. Threats to the economic security of the enterprise are systematized, which depend on typical factors and involve state financial regulation, including finding solutions to the Covid-19 pandemic; search for highly professional staff; building reliable protection of commercial classified information; developing reliable suppliers of raw materials; ensuring stable demand for own products; providing the company with appropriate technological and production equipment. The analysis of indicators of subjects’ activity in the field of public catering is carried out. It is defined that the enterprises are susceptible to changes in the social and economic environment and are dependent on a financial situation in the country. The growth of trade in this industry was realized due to the rising cost of raw materials, not due to an increase in visitors’ number. The amount of money spent by Ukrainians on basic meals in comparison with the minimum wage remains unsatisfactory, which also has an impact on the opportunity to visit public catering establishments. The conducted SWOT analysis of the catering industry gives grounds to claim a high level of bankruptcy. At the same time, making prompt anti-crisis management decisions and using their reputation (image) helps the establishments avoid bankruptcy. Findings. It is concluded that anti-crisis management should be a pivotal element to manage public catering establishments, as it helps to anticipate and minimize risks, prevents bankruptcy. The hypothesis offered that public dining establishments’ operation significantly depends on the economic conditions that have arisen due to the spread of coronavirus infection Covid-19 can be considered proven. Practical implications. The results of this research help practitioner, namely the owners of public dining establishments, who are trying to adapt to the new management conditions in the context of Covid-19 and theorists. The obtained results provide an opportunity to build the own business strategy, which will contribute to the formation of the enterprise’s required level of economic security. Originality/value This research shows that the information used to determine public dining establishments’ effectiveness has expected results, although their collection methods differed. In analyzing the results, the authors offer their vision for assessing the interdependence of enterprises’ economic security from anti-crisis decisions that help public dining establishments resist the actions of existing destructive factors in the conditions of Covid-19.