FINANCIAL STABILITY OF ENTERPRISES IN THE CONDITIONS OF GLOBAL SHOCK: STRATEGIC GUIDELINES OF RISK MANAGEMENT

Abstract

The article reveals the essence and significance of financial stability of enterprises as a system-forming element of their long-term functioning in conditions of growing instability and global challenges. It is substantiated that the modern business environment is increasingly faced with large-scale global shocks - the COVID-19 pandemic, geopolitical conflicts, in particular the full-scale war in Ukraine, inflationary surges, disruptions in logistics chains and fluctuations in financial markets, which significantly reduce the ability of businesses to maintain sustainable activities. In such conditions, financial stability is considered not only as a characteristic of the stability of the enterprise, but also as the ability to quickly adapt to changes in the environment, avoid threats and use crisis conditions to search for new opportunities. The paper focuses on the role of strategic risk management as a tool for managing uncertainty and ensuring long-term financial balance. The key areas of forming an effective risk management system are analyzed in detail, in particular, the implementation of scenario analysis, the creation of financial reserves, the use of derivative financial instruments (derivatives), the diversification of assets and sources of capital, and the digital transformation of financial processes. A model of comprehensive assessment of financial stability is presented, which takes into account an integrated system of solvency, liquidity, profitability, and capital structure ratios, which allow for the prompt identification of risk zones in the activities of an enterprise. Particular attention is paid to the role of the institutional environment and state policy, in particular, the analysis of state support instruments for business under martial law, including tax incentives, preferential lending programs, guarantee mechanisms, and financial restructuring. The results of the study are of practical importance for business managers, analysts, consultants, and government agencies and can be used as a basis for forming strategies for adapting business to a high level of risks during periods of global upheaval.