THEORETICAL AND METHODOLOGICAL FOUNDATIONS OF MANAGING THE FINANCIAL AND ECONOMIC SECURITY OF BUSINESS ENTITIES

Abstract

The article summarizes the theoretical and methodological foundations of managing the financial and economic security of business entities. It is noted that the solution to the problems of forming an effective financial and economic security management system for each business entity depends on various factors, including the type of economic activity, strategic goals, organizational structure, level of personnel training, availability of innovative technologies, quality of products and services, access to a modern information base, and the entity’s potential capabilities and resources.
As a component of economic security, financial security affects all aspects of an enterprise’s activities. Financial security has always been an integral part of financial management for individual entrepreneurs and must be implemented through strategic and tactical measures that align with current business conditions. The article emphasizes that financial and economic security is a multifaceted category with close connections among its components. Moreover, the management of financial and economic security within an economic entity is a complex, dynamic system composed of various internal elements designed to optimize resource utilization across all operations.
The primary goal of managing the financial and economic security of an enterprise is to ensure financial stability and efficient functioning in the present, while maintaining a high potential for future development. A key condition for this is the ability to withstand dangers and threats that could harm the enterprise. The article concludes that effective management of financial and economic security involves a conscious and purposeful influence by the management and security system on various aspects of financial and economic security (including management, activity planning, material and technical support, financial backing, technologies, information resources, and personnel). This influence aims to reduce the level of threats and risks while preventing undesirable outcomes in financial and economic activities.