ADAPTABILITY AS A KEY REQUIREMENT FOR CORPORATE GOVERNANCE IN THE CONDITIONS OF MODERN CHALLENGES

Abstract

The article substantiates the importance of adaptive corporate governance. It is noted that for Ukrainian companies, adaptive governance is a critical necessity. It is described that joint-stock companies need to implement management models based on situational management, flexibility, multi-vector risk analysis and scenario thinking, which will determine their managed adaptation to emerging challenges and new conditions, will contribute not only to the preservation, but also to the development of their activities even in conditions of prolonged crises and threats. Adaptive corporate governance becomes the key to the survival and further development of joint-stock companies. It is not only about a rapid response to challenges, but also about the ability of joint-stock companies to form new management approaches and ensure stability and strategic manageability. To achieve the adaptability of corporate governance, company management should choose the most adequate tools of situational and flexible management, taking into account, in particular, the ratio of costs and requirements of economic feasibility, security requirements, social and environmental parameters, etc. Flexible management tools are proposed that can be used in the adaptive corporate governance system. The current provisions of the work of researchers on corporate governance from the perspective of adaptability in retrospect are identified, and the modern corporate governance standard is analyzed, which defines recommendations for managing climate risks, environmental sustainability and anti-crisis capabilities of companies. The authors draw attention to the need to increase attention to the implementation of sustainability principles in corporate governance, to the spread of practical activities of companies aimed at achieving sustainable development goals, as well as to the need for greater transparency of companies in matters of implementing sustainable development goals. Positive practical experience of implementing adaptive management models in crisis conditions by Siemens, Metinvest, Ukrzaliznytsia, DTEK is presented. Adaptability is a key requirement of corporate governance in the face of modern challenges. Effective adaptive approaches, models and mechanisms of corporate governance are in demand today to increase the sustainability and efficiency of companies.