The article examines the activities of commercial enterprises during the crisis caused by the war, the coronavirus, and the European integration aspirations of Ukraine as a candidate for membership in the European Union. Despite the significant number of publications on anti-crisis policy, there are still unresolved problems related to risk management in the process of ensuring the anti-crisis policy of trade enterprises in the global economic uncertainty. Most of the companies in this sector suffered collapse and bankruptcy due to the complexity of operating conditions during this difficult period: power cuts, labour migration, changes in international and domestic supply conditions, selection of new suppliers, destruction of road and warehouse infrastructure, and the search for new logistics routes. The aim of this article is to offer practical recommendations that will help retailers strengthen their resilience, adapt to the changing environment through innovative crisis management measures, and quickly recover from the crisis to reach or exceed the previous level of financial and operational stability. The research methodology involves a two-pronged approach: a qualitative study through a literature review and interviews, which gives an idea of crisis management, and quantitative methods, including surveys and analysis of financial indicators. The article examines the activities of trade enterprises in the crisis period of the pre-war years, i.e., the time of the pandemic's impact on the dynamics of trade. It analyses the losses of retailers during the war. The objectives of crisis financial management are defined. The relationship between crisis management and the solvency and financial stability of trade enterprises is determined. The impact of insolvency of trade enterprises on the payment of wages to employees is identified. The authors propose a number of anti-crisis measures for trade enterprises in the context of wartime and a global pandemic, such as transition to online trading using marketing strategies and plans, cost reduction, effective inventory management, modelling the sensitivity of financial indicators to changes in the external environment, and search for innovative opportunities. Attention is focused on the growing role of human capital in business recovery, including the importance of staff training and professional development, improvement of motivation systems and human resource management. The paper suggests ways to increase labour productivity, such as process automation and the effective use of data analytics. Results. Thus, the objective need for innovative tools for crisis management of trade enterprises becomes a key element of research in the context of European integration and wartime.
Search from 250 M+ research papersSearch from 250 M+ research papers
Apr 30, 2024
Hyeongtae Cho + 1
Open Access