INNOVATIVE TOOLKIT OF SAFEGUARDING THE ECONOMIC STABILITY OF ENTERPRISES IN UNSTABLE CONDITIONS

Abstract

The study draws attention to the issues of effective management of the economic security of enterprises, in particular through the introduction of management innovations in this area. The purpose of the study is to substantiate the innovative tools for ensuring the economic security of enterprises in unstable conditions. It was concluded that the potential of innovative business development is far from being limited to product and technological innovations. One of the areas where are strong prospects for innovative development is the area of economic entities security management. It is shown that the introduction of innovative approaches to the management of the economic security of enterprises allows to significantly increase the efficiency of such work, and, hence, to obtain more predictable conditions for the functioning and development of business, realization of financial and economic interests of stakeholders, stability and predictability in companies development. The ranges of directions in which innovative approaches to the management of economic security of economic entities can be implemented are defined: 1) the introduction of more qualitative and complex methodological approaches to analyzing the state, level and dynamics of the enterprise economic security, with identification of those factors that caused them and continue to condition them; 2) innovative managerial approaches to the timely detection, prevention of existing and new challenges and threats that pose a danger to the stable functioning and further development of the enterprise; 3) innovative solutions and approaches that make it possible to create and implement innovations that will allow a business entity to create proper and effective protection against so-called economic espionage (the actions of competitors or other intruders, which are carried out against the enterprise); 4) modern innovative solutions regarding certain methods, as well as methods of collecting, obtaining and processing relevant data; 5) application of innovative solutions during the formation and development of the economic security management system of economic entities. Such decisions mostly related to meeting financial and economic interests of stakeholders who invested their capital in the business, coordination of the goals and objectives of the enterprise system development during the implementation of its resource potential, as well as development and realization of resource programs for the provision and protection of economic interests and the mission achievement and business development economic tasks performance (corporate structure). The tools that need to be implemented in each of these areas have been identified.