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Purpose: The purpose of the study was to answer the questions: were there, in the opinion of employees, unfavourable changes or difficulties in the entities in which they are employed in connection with the COVID-19 pandemic, in what areas of the functioning of the enterprises did they occur, did the management staff take appropriate actions in connection with this, what actions were taken? Design/methodology/approach: In addition to the review of literature on the subject of enterprise crisis and pandemic, the article also presents the results of own empirical research. Findings: As a result of the conducted research, it was found that 60.5% of respondents noticed unfavourable changes or difficulties resulting from the external crisis such as the pandemic. Respondents considered that they were most noticed in the sphere of the company’s functioning in the field of personnel management. The next areas were: supply, production, the process of communication between employees and the weakening of the company’s/organization’s relations with business partners, as well as marketing. 33.5% of surveyed employees reported that the management staff showed activity in such a difficult, crisis reality as the pandemic. The actions taken in this area were shown. Research limitations/implications: The selection of the research sample was not probabilistic, but care was taken to ensure a high diversity of respondents, both in terms of the characteristics of the economic entities surveyed and the respondents themselves. Practical implications: Recommendations for managers facing major changes, as was the case with the pandemic, a specific example of an external crisis. Social implications: Showing that in the face of an external crisis such as the pandemic, the integration of intra-organizational activities and building relationships with the company’s environment can significantly mitigate unfavourable phenomena. Originality/value: A comprehensive look not only at the need for a thorough analysis of the causes and conditions of crises in the enterprise but also an indication of taking systematic corrective actions with particular consideration of aspects related to the area of human resources management. Showing that cooperation between the enterprise and its environment based on values can contribute to the creation of a good of a general social nature, also in crisis situations. [ABSTRACT FROM AUTHOR]

This research paper delves into the profound impact of public health emergencies on corporate finance, with a specific lens on the COVID-19 pandemic's transformative effects. Corporate finance systems face unprecedented challenges in such crises, including fluctuations in consumer demand, escalating operational costs, profitability erosion, and cash flow constraints. These factors demand innovative financial strategies to ensure business resilience. The paper emphasizes the need for tailored financial systems, designed to navigate the unique challenges of health emergencies. Such systems should enable companies to mitigate financial distress and maintain operational continuity with minimal expenditure. The analysis highlights the critical role of knowledge transfer and collaboration across organizations and industries, fostering a shared understanding and best practices in crisis management. Our findings extend the existing literature by revealing the multifaceted financial challenges businesses face during health crises. This includes increased corporate social responsibility, heightened regulatory constraints, labor shortages, supply chain disruptions, and financing difficulties. These insights offer a nuanced perspective on crisis management, aiding businesses and policymakers in devising effective strategies for financial stability and resilience. The study concludes with theoretical and managerial implications, highlighting the importance of proactive financial management and robust financial buffers. It suggests that enterprises optimize their working capital and make swift, informed decisions to enhance their resilience and adaptability during crises. Additionally, it underscores the need for flexible and supportive measures from governments and regulatory bodies to aid businesses in navigating these unique challenges. [ABSTRACT FROM AUTHOR]

The article analyzes the current causes of the formation of crisis phenomena in the economy of Ukraine, also the main approaches to assessing the probability of occurrence of a crisis at enterprise. In order to improve the subsystem of diagnostics and prevention of the formation of financial crises, a conceptual model has been developed, which provides for the definition of the class of crisis of industrial enterprises on the basis of cluster analysis. Further, an assessment of the probability of occurrence of crisis situations on the basis of discriminant membership functions is carried out. The application of the conceptual model allowed to develop an approach to improving the system of anti-crisis management of enterprise on the basis of assessment of the sanitation potential of enterprise. A matrix model of choosing the sanitation strategy of enterprise on the basis of positioning of the enterprise in the two-dimensional plane depending on the level of sanitation potential and the class of crisis has been built. The type of sanitation strategy is determined, taking into account the class of crisis, the expedient way of implementing the strategy, corresponding to the actual and potential capabilities of the enterprise and the state of its sanitation potential. The key element of the proposed mechanism is the procedure for selecting and implementing the sanitation strategy depending on: the level of the sanitation potential of the enterprise and the class of crisis; external factors and the class of the crisis. The results of the study can be implemented in the activities of industrial enterprises for the formation and substantiation of crisis management.

Owners and managers of small and medium-sized enterprises (SMEs) have changed their perspective on risk management due to the current global negative threats in the business environment. If they want to be successful and ensure the financial performance of their business, they must adopt a proactive approach to reducing strategic risks in connection with operational risks. The aim of the article is to identify and quantify the differences in operational risk management and its effect on the financial management of SMEs between four Central European countries. The statistical sample of SMEs consisted of 1090 owners and top managers. Data collection was carried out through a questionnaire in the period December 2022–January 2023. Statistical hypotheses were evaluated with the application of correlation analysis and linear regression modelling. Empirical findings have confirmed that operational risk management has a significant positive impact on improving the profitability of the enterprise and on reducing the enterprise's indebtedness, as well as in the context of reducing the enterprise's inability to pay its obligations. However, there are disparities in the perception of this influence between owners/managers with regard to the country in which they carry out their business activities. The findings are important for both national and multinational organizations and entities dealing with risk management in the business environment of small and medium-sized enterprises. [ABSTRACT FROM AUTHOR]

The purpose of this text is to diagnose the degree to which risk management is embedded in enterprise management system, and in particular to identify risk prevention activities taken in different management domains by enterprises listed on the Warsaw Stock Exchange, representing the following three sectors: financial services, construction, and IT. The research was carried out using a triangulation of research methods. The following research methods were used: analysis of the content of source documentation generated by the analyzed enterprises, one-stage logical classification, exemplification, and comparative analysis. The research involved 107 enterprises listed on the Warsaw Stock Exchange and representing the sectors of financial services, construction, and IT. The main conclusion resulting from the research is that risk management is firmly rooted in enterprise management systems, which manifests itself in the presence of measures taken against risk in various management domains, such as strategic, operational, financial, quality, human resources, project, investment, and innovation management. According to the obtained results, the enterprises under analysis the most often apply risk management measures in the areas of strategic management, operational management, and financial management. The main added value of the results of the conducted research is the presentation of the management domains in which risk prevention activities are located and the identification of the analyzed enterprises' specific preventive measures that fall within different management domains and allow the perception of risk management as an integrator of all processes carried out in the enterprise. [ABSTRACT FROM AUTHOR]

The main purpose of the article is to model the main stages of the implementation of anticrisis management in an engineering enterprise that has a crisis situation. The object of the study is the system of anti-crisis management and business in the engineering sector of the economy. The research methodology involves the use of modern modeling methods that contribute to the achievement of the goals. In particular, the basis is the technique of modeling control processes using functional-graphic elements. As a result, we have chosen a concretely operating engineering enterprise that has crisis signs of development and requires the use of an anti-crisis enterprise. The elements of novelty of the obtained results of the study are presented in the form of established models for overcoming a crisis situation due to the use of anti-crisis management measures. The study is limited by targeting only one engineering enterprise. In the future, it's need to expand the scope of the study in future research work, so that the results can be more generally applicable. Further research needs to expand the application of the methodological approach. [ABSTRACT FROM AUTHOR]

In the article, the main theoretical questions of the organizational capital of the enterprise are considered. The concept of «organizational capital of the enterprise» as a system consisting of three subsystems (organization of production, labour organization and management) is introduced. It is shown that the organizational capital forms the labour relations system at the enterprise consisting of the cooperation, technological, economic, moral labour relations and the relations of workers’ responsibility. The model of cyclic evolution of crisis at the enterprise caused by shortcomings of the organizational capital is revealed. It is shown that the organizational capital is a basis for the realization of the human capital, which creates value added. A considerable attention is paid to the experience of the creation and functioning of the organizational capital at the enterprises of the Japanese corporation «Toyota». The Russian economic literature on crisis management quite often considers only the financial aspects of diagnostics, proposing the optimization of cash flows, elimination of excess stocks, transition to the medium-term budgeting and others. However, the deep reasons of crisis need to be found not only in financial streams, but also in the system of the work relationships. The shortcomings in the development of technological, cooperation, economic, moral labour relations and the relations of responsibility directly reflects the shortcomings in the development of the elements of the organizational capital as they «are adjusted» by these elements. In turn, organizational problems affect the product quality leading to the customer attrition and decrease in the enterprise’s financial performance. The lack of financial resources cause the need to save costs (first of all, on personnel, that was brightly shown by the economic crisis of 2009) that even more weakens the enterprise and system of labour relations. Finally, the enterprise loses its main resource, which is the personnel with necessary level of knowledge and skills.

In this scientific research it's presented a description of the control system at the Ukrainian enterprises. It is proved that the introduction of control system at indigenous enterprises contributes to improving the efficiency of the business entity, ensuring the effective use of existing opportunities and available resources, and, in general, ensuring adequate competitiveness. It is explained that in spite of the size of the enterprise, the volume of its economic activity, branch affiliation and other factors, the implementation and functioning of the control system requires appropriate organizational support. The basic stages of organization of the control system at the enterprise are defined and the corresponding tasks are formed. Taking into account the controversy of the issue of forming a controlling service at the enterprise, identification of tasks of controlling, depending on the executor, was carried out. [ABSTRACT FROM AUTHOR]

The essence of the article is based on the collected and processed data from the survey to analyze, assess and evaluate the impact of the factor, which is the number of employees, on the market and financial risks, identified by managers of the SMEs in the Zilina region of Slovakia. The analysis of market and financial risks is carried out through the analysis of the selected statistical characteristics, using the point and interval estimates and methods of mathematical statistics. Interval estimation enables to determine not only the best estimate, but the entire interval with a certain probability of possible estimates of the mean value of the market and financial risks of a basic file, since the managers of an enterprise are more interested in intervals than in a point value. Results of the survey showed that the number of employees has an impact on the mean value of the market and financial risks of the SMEs in the Zilina region and therefore it is not possible to underestimate it. [ABSTRACT FROM AUTHOR]

The necessity of creating a crisis management system at an engineering company that provides diagnostics of bankruptcy in its early stages in order to eliminate the threat thereof. The features of crisis management at the enterprises of machine-building industry in the conditions of the crisis. The essence of crisis management elements that are relevant today and are used in the leading industrial enterprises in the world. [ABSTRACT FROM AUTHOR]

Occurrence of crisis situations and management crises in national economy systems is always connected with the human factor. In article, based on carried out research, is offered the competence increase concept and preparation of the persons, who are making administrative decisions in the conditions of a crisis situation and crisis. [ABSTRACT FROM AUTHOR]

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A study of work motivations based on Gerchikov's typological model of motivation in Russian organizations shows that they are influenced by a wide array of factors in addition to wage levels, including place in the organization, career stage, the work environment, and the characteristics of the enterprise. [ABSTRACT FROM AUTHOR]

Investigates the work methods of managers during the economic crisis in Poland in the 1980s. Traditional behavior of enterprises in the course of changes; Issues in preventive and active management; Methods of adaptation that are essential to the efficient operation of enterprises; Development of a program of crisis-control actions by the enterprise.