The relationship of economic security and competitiveness of the enterprise in modern conditions

Abstract

The author of a scientific publication examines the justification of the impact of economic security on the competitiveness of an enterprise. In modern conditions, when the economic situation in the world is constantly changing, and competition in the market is becoming increasingly fierce, it becomes essential for enterprises to have several key success factors. According to the author, one of these factors is competitiveness, which includes the ability of an enterprise to meet the needs of its customers and offer quality goods and services at an affordable price. The author notes that competitiveness is one of the main factors that allows an enterprise to retain its customers, attract new ones and increase its market share. To be highly competitive, an enterprise must have a strong brand, create a unique experience for its customers, an effective marketing and management strategy, and a professional and motivated workforce. However, as the author noted, competitiveness is not the only factor determining the success of an enterprise. An important aspect is economic security, which is aimed at reducing risks and protecting the financial structure of the enterprise. Ensuring economic security allows the company to successfully compete in the market, take risks and invest in the development of its activities. In addition, it is important to pay attention to the quality of products and services, their value for money, management efficiency, as well as attention to customer needs. The company must pay special attention to product quality in order to retain its customers and attract new ones. It must also set reasonable prices for its products and services in accordance with their quality. Summing up the study, the author mentions that in order to succeed in the market, an enterprise must have a set of key factors, including competitiveness, economic security, product and service quality, management efficiency, attention to customer needs, the use of modern technologies and social responsibility. Only in this way will the company be able to succeed in the current economic situation and take a leading position in the market.