Managing financial and economic security of transport enterprises: the basic aspects.

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Managing financial and economic security of transport enterprises: the basic aspects.

Journal Title: Економіка: реалії часу - Year 2016, Vol 4, Issue 26

Abstract

Stable functioning of the transport enterprises is a primary constituent of the affluent national economy. The aim of this article is to produce the analysis of the tasks, foundations and mechanisms of management of financial and economic security of transport enterprises as a contribution to their economic vitality. In a rapidly changing environment, that is a label of nowadays economy, elaboration, adoption, implementation of the coordinated decisions followed by the set of special methods must be taken into account and applied for achieving the economic efficiency of management of financial and economic security of transport enterprises. The set of methods is intended to be used during the stages of implementation of decision-making processes, and must be understood as set of measures, organization and control, directed to achievement the highest values of the level of financial and economic security of the given enterprise. The implementation of the strategy aimed to ensure the financial and economic security of transport enterprise is carried out at operational, tactical and strategic levels as a continuous process. Despite the fact that today a large number of transport enterprises of various organizational forms, forms of ownership, with different types of management has been launched, the basic concept of management of financial and economic security of such enterprises may be generalized and outlined. It is founded on: 1. The reasoned selection of financial and economic security strategy for a given transport enterprise. Each type of financial and economic security strategy must be applied solely to the given enterprise. For example, for the port operator the preventing type of such strategy is favorable; 2. Must be considered and estimated the rate of relative indicators which are primarily based on the business parameters of the given transport enterprise; 3. The assessment of the level of business performance of the given transport enterprise must be taken into account, with a special focus on it’s financial and economic security sectors. Thus is may be resumed that the concept of management of financial and economic security primarily lies in the operational management, which presumes the following:  Planning of parameters and business indicators:  operational control of the actual performance in accordance with business aims;  operational identity and assessment of deviations in the light of "fact-plan". Additionally, it may be noted that the equity value of the management of financial and economic security can be evaluated through the indicators which belong to the general business plan. As a final result, the system of financial and economic security of the enterprise may be presented and used as a guideline for decision-making processes. The implication and permanent functioning of financial and economic security of the transport enterprise is come in handy in times of the increased uncertainty and instability of economic environment. It may serve as adequate response to sudden changes in the environment.

Authors and Affiliations

Olga Koretska, Natalia Khoteyeva

Keywords

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EP ID EP573586
DOI -
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