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BUSINESS INFORM №12-2014

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4

Section: Economic Theory
UDC 334.01
Domnina I. I.
Analysis of the Current Approaches to Definition of the Term «Crisis Management» (p. 25 - 29)
The article is aimed at working out a new definition of «crisis management» on the basis of the known definitions, presented in the scientific works by the both domestic and foreign authors. On analyzing of various scientific works was found, that studying of «crisis management» as a single concept began since the end of the last century, but nonetheless understanding of the essence and contents of this definition at the present day is still in the stage of formation. For this reason, study and improvement of the contemporary conceptual framework of crisis management remains relevant. In the research process, a number of definitions of crisis management was examined and the various views on this concept were analyzed. The results of the carried out analysis revealed that the concept of «crisis management» is often narrowed to managing the enterprise in the context of an overall crisis or such management, which prefaces the bankruptcy proceedings. As for the examined definitions, diagnosis of a crisis at an early stage or a procedure to prevent the negative development of the enterprise, is covered insufficiently. Most enterprises are operating with borrowed funds and not always effectively use them, which leads to a high risk of default, and may result in eventual destabilization of enterprise's activity against the background of negative changes in the external business environment. On the basis of the analyzed views on the concept of «crisis management», an advanced definition was proposed, which also takes into account the influence as the internal, so the external environment of business. Prospects for further research can consist not only in finding out ways for improving the concept of crisis management, but also deeper study and perfection of management models as well as managing the financial sustainability of crisis management aimed at prevention of crises of enterprise.
Keywords: crisis management, management system, financial management of enterprise, diagnosis of bankruptcy
Bibl.: 20.

Domnina Iryna I. – Assistant, Department of Management and Finance, Foreign Trade, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: [email protected]

Reference to this article:
Domnina, Iryna I. (2014) “Analysis of the Current Approaches to Definition of the Term «Crisis Management».” Business Inform 12:25–29.

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