The Financial Strategy of Anti-Crisis Management for an Entrepreneur in Modern Conditions of Operation

Abstract

The article is aimed at identifying key aspects of anti-crisis management, in particular the choice of its most effective instruments. It is noted that modern economic entities do operate under the conditions of constant impact of crisis factors. Most entrepreneurs suffer the most significant damage as a result of global financial and economic crises, political instability and a new challenge of the present – the COVID-19 pandemic. All these events require business entities to organize a permanent unit of anti-crisis management, the purpose of which is to minimize or eliminate the negative consequences of crisis phenomena. Among the key aspects of anti-crisis management, the leading place is held by the most adequate instruments for overcoming the consequences of the crisis. The article examines a wide range of modern anti-crisis management instruments and determines that one of the most efficient of them be the anti-crisis financial strategy. In this regard, the priority of the financial aspect of anti-crisis management is substantiated and a special place of anti-crisis financial strategy as its key instrument is proved. The «tree of goals» of the anti-crisis financial strategy is built up as a fundamental element in its development. It is specified that in order to build up an efficient anti-crisis financial strategy, first of all, a comprehensive assessment of the valid financial condition of the corresponding entity is required and the most used indicators of such an assessment are proposed in four directions – assessment of financial stability, liquidity, business activity, and profitability.

Keywords

• anti-crisis management
• anti-crisis financial strategy
• anti-crisis management instruments