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Liburkina L. M.

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The Essence of Crisis Management and Its Role in Ensuring Economic Stability
Chernoivanova H. S.

Chernoivanova, Hanna S. (2026) “The Essence of Crisis Management and Its Role in Ensuring Economic Stability.” Business Inform 2:355–362.
https://doi.org/10.32983/2222-4459-2026-2-355-362

Section: Management and Marketing

Article is written in Ukrainian
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UDC 005.931.11

Abstract:
The article focuses on studying the theoretical and practical foundations of crisis management in enterprises under conditions of instability caused by the aftermath of the pandemic, the impact of martial law in Ukraine, and globalization challenges. The relevance of the topic is substantiated by the high level of company losses and the need to develop efficient mechanisms to counteract crisis phenomena for stable economic growth. The aim of the work is to clarify the essence of the concept of «crisis management» and to systematize its key components to form an efficient enterprise management system in the context of modern uncertainty. The study analyzes existing scientific approaches to defining the term «crisis management». It has been shown that this is not a separate function or a set of short-term measures, but an integrated management system that combines financial, organizational, strategic, and psychological aspects. Based on a detailed analysis of the literature, a generalized definition of crisis management has been formulated as a set of measures aimed at diagnosing financial conditions, developing managerial decisions to prevent crises, and minimizing their consequences. The article systematizes the key elements of the crisis management system, including the object, subject, goal, functions, principles, regulatory framework, and implementation mechanisms. Two main approaches are distinguished: strategic (long-term planning and risk prevention) and operational (prompt response to an ongoing crisis). The conclusion is that efficient operation of a modern enterprise requires constant readiness for financial imbalances and the creation of a reliable analytical base. The practical significance of the results is that the clarified structure of management elements provides a solid foundation for developing efficient strategies to stabilize domestic enterprises under contemporary threats.

Keywords: crisis management, enterprise management system, strategic approach, elements of crisis management, crisis.

Fig.: 1. Tabl.: 2. Bibl.: 12.

Chernoivanova Hanna S. – Doctor of Sciences (Economics), Professor, Professor, Department of Enterprise Economics and Business Organization, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

List of references in article

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