Strategic management of economic security system of business entities: theoretical aspects

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Bohdan Khmelnytsky National University of Cherkasy

Strategic management of economic security system of business entities: theoretical aspects

Koval Oleksii,

postgraduate student

Cherkasy

Abstract

Key words: strategic management, economic security, entity, management, risk, strategy, threat.

Анотація

Коваль Олексій Вікторович

аспірант кафедри менеджменту та економічної безпеки,

Черкаський національний університет імені Богдана Хмельницького, м. Черкаси, Україна

Стратегічне управління системою економічної безпеки суб'єктів господарювання: теоретичні аспекти

Проблема. Актуальність теми полягає в тому, що в сучасних умовах господарювання важливість стратегічного управління системою економічної безпеки суб'єктів господарювання є невід'ємною складовою господарської і підприємницької діяльності. Слід зазначити, що сфера стратегічного управління системою економічної безпеки є досить складною і перспективною для розгляду та дослідження. Для максимальної ефективності та результативності комплексної системи менеджменту суб'єкта господарювання важливе значення має якісно організоване та реалізоване стратегічне управління системою їх економічної безпеки.

Метою дослідження стало уточнення теоретичних основ стратегічного управління системою економічної безпеки суб «єктів господарювання, у сповненому ризиків сучасному конкурентному середовищі та з врахуванням тих тенденцій, які супроводжують розвиток вітчизняної підприємницької діяльності.

Методи. У процесі підготовки наукової публікації були використані монографічний метод і метод теоретичного аналізу. Також застосовано прийоми теоретичного аналізу і синтезу. Метод узагальнення використано у процесі формування висновків за результатами проведеного дослідження.

Результати. Досліджено фундаментальні концепти та існуючі парадигми до конкретизації сутності процесу стратегічного управління економічною безпекою як з позиції системного підходу (за якого популяризується управління системою економічною безпекою), так і з позиції процесного підходу (за якого увага приділяється власне перебігу процесу управління економічною безпекою як одним із параметрів стану суб'єкта господарювання). Запропоновано авторське визначення стратегічного управління системою економічної безпеки суб'єктів господарювання. Встановлено основоположні поняття категорійного апарату стратегічного управління системою економічної безпеки. Визначено особливості стратегічного управління системою економічної безпеки суб'єктів господарювання відносно тактичного та оперативного безпеко орієнтованого менеджменту.

Наукова новизна. На основі дослідження різних позицій щодо можливостей і характеристик стратегічного управління системою економічної безпеки суб'єктів господарювання, дістали подальшого розвитку теоретичні основи такого управління. Надано пропозиції щодо модернізації категорійного апарату управління економічною безпекою підприємницьких структур на стратегічному часовому горизонті зважаючи на популярність стейкхолдер орієнтованого підходу у сучасному менеджменті.

Висновки. Процеси стратегічного управління підприємством мають містити набір заходів щодо забезпечення економічної безпеки у довгостроковій перспективі засобами управлінського впливу на вектори розвитку суб'єкта господарювання, а генеральна стратегія його діяльності як основоположний документ майбутніх векторів руху підприємства у конкурентному середовищі до реалізації мети його створення - визначати окрім іншого і цілі управління економічною безпекою бізнес - структури. Стратегічне управління системою економічної безпеки суб'єкта господарювання - це процес послідовного прийняття управлінських рішень, спрямованих на довгострокове функціонування системи економічної безпеки з метою забезпечення захисту корпоративних ресурсів суб «єкта господарювання, що використовуються для задоволення економічних інтересів його стейкхолдерів у сповнених ризиками внутрішньому і зовнішньому середовищах діяльності господарської структури.

Ключові слова: стратегічне управління, економічна безпека, суб'єкт господарювання,менеджмент, ризик, стратегія, загроза.

Main part

Introduction. In today's changing economic environment and given the current tendencies towards uncertainty of political and macroeconomic courses, business structures, their owners and management should formulate a list of business development goals, and set strategic benchmarks not only in terms of achieving maximum profitability, but also to target the decision to conserve corporate resources in an environment full of risks. That is, one of the strategic goals should be considered to ensure the economic security in a long term. In view of this, it is worth paying attention of the scientific community and practitioners to the issue of effective strategic management of the economic security system of business entities of different types of economic activity.

Strategic management is a vague and often contradictory and conflicting process, as business owners and executives take a different approach to determining the balance between danger and opportunity (risk and benefit, in other words). In the process of adjusting the mechanisms of strategic management, the company defines its own mission, sets strategic goals in accordance with the trends of the external environment and internal conditions of the organization, plans how to ensure the achievement of the long-term objectives, how to guarantee the state of maximum satisfaction of interests of stakeholders and a high level of economic and technological progress, relies on its internal capabilities and usually limited corporate resources and reserves to implement such plans and solutions. Given the risky economic conditions of managing domestic business structures, the challenges of the national economy, their strategic plans and programs must take into account the need to ensure economic security in the long term. That is why it is advisable to thoroughly investigate the theoretical aspects of strategic management of the economic security system of business entities.

Literature review. The analysis of publications from foreign information sources has made it possible to conclude that in most countries of the world economic security in both strategic and tactical fields is being studied by scientists at the macro level. Economic security is linked to the state of national security and is not examined in the context of the economic activity of individual business entities. At the same time, the domestic school of micro level security is quite powerful. Ukrainian scientists, better than their foreign colleagues, trace the link between the processes of economic security management and strategic management in different spheres of economic life. So, V. Zhmudenko highlights in own article the peculiarities of the mechanism of formation and implementation of the strategy for managing the economic security of the agricultural sector [1], Yu. Zakharchenko, V. Zanora address to the issue of strategic management as to the continuous process and offer varieties of strategies for the enterprises of the hotel and restaurant industry [2]. The team of researchers, namely N. Zachosova, V. Bilyk, D. Kutsenko, investigate the educational component of the personnel potential of strategic management of the economic security system [3], without specifying, however, the features of its formation for different types of economic structures. The authors point to the problem of personnel training in the field of economic security management, in particular, from the point of view of the strategic horizon of implementation of this process. Source [4] acknowledges the need to strike a balance between risk taking, propensity to risk, and top management of business entities and the need to protect stakeholder interests in the strategic management of financial and economic security of business entities. S. Nazarenko investigates the transformation of strategic, innovation and financial management tasks in the context of the organization of economic security management system [5]. The scientific interests of such scientists as

O. Toporkova, N. Akimova, T. Naumova include strategic aspects of risk management for ensuring the economic security of the enterprise [6]. In his scientific work, O. Cherevko points to the importance of strategic management of the financial and economic security of an enterprise in the period of recovery after the global financial and economic crisis of 2008 [7]. Given the current trends in the functioning of the domestic financial market and the constant unpredictable currency fluctuations, this publication can be considered relevant and worthy of attention again. O. Polinkevych in own research pointed out the importance of strategies for managing the economic security of enterprises as a whole [8]. The scientific views of S. Saloyid indicate that strategic modeling enhances the effectiveness of organizational and economic mechanism for managing economic security of enterprises [9].

O. Kyrychenko summarizes the importance of the theoretical aspect of strategic management of the economic security system of the enterprise as a whole, and emphasizes that the author's scientific achievement is to determine the theoretical aspects, «which is the conceptual scientific basis for the formation of strategy, planning and implementation of strategic management of the economic security system of the enterprise» [10].

A review of domestic scientific publications in recent years suggests that there is no comprehensive integrated study of strategic management of the economic security system, which is undergoing qualitative transformations in the conditions of spreading the risks of Industry 4.0, increasing globalization tendencies, awareness of top-management of the need to focus on the economic interests of stakeholders in the process of security-oriented management, etc.

The purpose of the article. The purpose of the study is to clarify the theoretical foundations of strategic management of the economic security system of economic entities, in the today's competitive environment full of risks and taking into account those trends that accompany the development of domestic business at the early 2020. In order to achieve this goal, a number of research tasks have to be fulfilled: to establish the importance of strategic management of the economic security system of economic entities, to propose own definition of strategic management of the economic security system of the business entity, to substantiate the importance of integrating strategic management of the economic security system in the mechanisms of management of business entities and to specify the differences of strategic management, tactical and operational management of the economic security in the process of the economic entities business activity.

Results and discussion. Conceptually, strategic management of the economic security system is the decision-making regarding the overall, long-term direction of development of enterprises, organizations, their goals, objectives and policies, as well as the allocation of resources over a period of time. From the perspective of the future development of the entity, the strategy is positioned as a plan, and from the standpoint of the company's development history, the strategy is characterized as a pattern of transformation of its activity in terms of openness of economic systems. At the industry level, the strategy indicates the position of an enterprise in the market, retaining or expanding its market share in the face of increasing competition. At the entity level, the strategy is equated with the prospect of evolving its functionality given the available resources.

In scientific publications of domestic scientists, the idea of organizing a process of strategic management of economic security and further development of a mechanism for implementing a strategy of managing economic security in the practice of economic entities of various types of economic activity is increasingly being traced [1, p. 73]. In this context, strategic management is «not only the establishment of certain parameters of the future state of the organization, but also above all ensuring the ability to make effective strategic decisions today, aimed at achieving the chosen goals, objectives» [11, p. 307]. That is, the strategic management of economic security should be formed on the basis of combining the goals of the long-term functioning of the economic security system with the resources necessary for its effective existence. The principle of rationality should not be overlooked - if security in the strategic perspective requires so many resources that it will exceed the loss of the entity in the absence of it, then the model of such a system should be revised and its structural and functional architecture should be optimized.

According to S. Saloyid, strategic management is a «multi-faceted, formal-behavioral management process that helps to formulate and to execute effective (rational, business-optimal and enterprise-friendly) strategies that help to balance the relationship between the enterprise and stakeholders at different levels of the economic system. including internal, as well as to achieve the set goals on the basis of implementation of tactical and operational plans, programs, projects» [9, p. 52]. This definition is a testament to the need to take into account the interests of stakeholders, both in the process of strategic management in general and in the management of the economic security system in particular. Very often, top-management of companies is prone to make financial, investment, and economic decisions with an excessive level of risk in order to maximize profits. For effective economic security management, this situation is unacceptable and completely contradicts the principles of security-oriented management. Therefore, current practices of strategic management of business entities need to be revised in terms of supplementing them with strategic guidelines for ensuring economic security in the medium and long terms.

Thus, according to experts, the strategy of managing the economic security of the enterprise - «is a long-term plan of coordinated actions of the management system of economic security of the enterprise, which create favorable and safe conditions for its managed system» [8, p. 252]. The proposed definition is rather concise, however, there is no indication of what should be considered a managed system - resources, stakeholder economic interests, purpose of the enterprise, etc. Under the strategic management of economic security, Z. Zhyvko, O. Cherevko, N. Zachosova, O. Balynska propose to understand the process of using entrepreneurial capabilities of a business entity to ensure the stability of its functioning and achieve long-term goals in the context of the constant need to protect corporate resources from the negative effects of external and internal threats and risks [4, p. 139]. The strategic management system, according to A. Voronkova, is a complex system, the basis of which is to define and realize the goal of the enterprise in the long run with the help of certain tools and taking into account the influence of external and internal environments [12]. A common feature of all these definitions is the time horizon of management - it is a question of the future state of economic entities, and there is an indication of the need to take into account the factors of the external and internal environment of the functioning of the business structure, however, without unduly burdensome recalculation of their forms and types.

The first stage of economic security management from the point of view of process approach, scientists consider developing a strategy of security-oriented actions of management and owners of the business. An economic security strategy is the «development of a long-term plan to achieve the goals, objectives of the enterprise, in particular to ensure financial and economic security, as well as to plan the allocation of resources in the context of constant environmental instability and adaptation to protect the enterprise from the impact of threats, risks and achieving its normal and safe functioning [2]». The transition of the domestic economic system to the model of Industry 4.0 requires consideration of the economic security strategies of Ukrainian enterprises with the fact that there are some dangers appeared from the robotization of individual economic processes, the risks of the digital economy, challenges related to information entropy, which has a significant destructive effect on the process of making timely and effective management solutions and decisions. The mentioned features of the modern environment of functioning of economic entities are a call for flexible strategic management, a call to leave the possibility of transformation of strategic goals of the enterprise in the process of their realization depending on innovative threats and risks, which could not be foreseen at the stage of formation of economic security strategy.

The economic security strategy must be directly linked to the general and financial strategies of the enterprise. The dominant for enterprise economic security supply are the next strategies:

- aimed at ensuring profitability of equity, attracted and borrowed capital;

- aimed at formation of financial and economic resources and to high level of business reputation; to protection of competitive position in the market;

- aimed at guaranteeing the financial and economic stability and independence of the enterprise in the long term;

- aimed at ensuring the safety of the investment, financial, innovation and operational activity of the entity;

- aimed at detection, neutralization, prevention, diversification, minimization of financial and economic risks;

- anti-crisis strategy, financial rehabilitation strategy.

At the stage of strategy development management personnel should take into account the dynamics of macroeconomic processes, trends in the development of domestic financial markets, opportunities for diversification of activities of the enterprise [7].

The stage of developing an economic security management strategy can be replaced by the selection by managers of business entities one of the existing types of strategy and its adaptation to a particular enterprise and to the conditions of its functional environment. The following types of economic security management strategies are offered in scientific sources. A bifurcation strategy is a long-term plan of coordinated action aimed at offsetting or eliminating destructive effects and threats. An adaptation strategy is a long-term plan of coordinated action aimed at adapting to threats in order to maintain enterprise resilience.

Adaptation strategies include support strategies or early prevention strategies. It can be divided into the following types:

1) passive use strategies that take advantage of the available opportunities and are a typical course of action for an enterprise in a stable and predictable environment. The «passivity» of actions is determined by the fact that the enterprise does not try to influence the external environment;

2) strategies for active survival of the enterprise, aimed at active search and effective use of opportunities. Such strategies are implemented through the restructuring of the internal structure of the enterprise and the use of complex strategic behaviors in the market;

3) strategies for active environmental impact include actions to actively search and creation of new opportunities for innovative development of the enterprise. Such strategies are implemented through innovation, strategic competencies and knowledge [8, p. 252].

In general, management actions within the strategic management in the context of the organization of the economic security management system are as follows:

- development of the enterprise activity strategy - forming a list of strategic guidelines for ensuring economic security;

- formation of a list of promising directions of enterprise development - determination of a set of threatening factors that may impede their implementation and control of development of which must occur within the functioning of the economic security system;

- development of documentation for the development of the enterprise in the future - development of the Economic Security Strategy;

- control over the implementation of strategies of functioning and development of the enterprise - identification of factors that are in the way and development of measures to minimize them in the economic security system [5, p. 65].

An important step in the strategic management of an entity's economic security system is the systematic risk management, which helps to correctly identify and evaluate the risks in order to take the necessary steps for timely security-oriented management decisions. The economic and financial relationships that arise in the management process combine risk management strategy and tactics [6, p. 239].

The strategies for managing individual functional systems, such as managing the economic security system, are separate long-term plans for the operation of such a system and should be consistent with the overall strategy of the enterprise. Research and knowledge of theoretical scientific principles of strategic management make it possible to understand and investigate dynamic development and to predict its further movement in the practical activity of enterprises [10, p. 73].

Therefore, the basic concepts of the categorical apparatus of strategic management of the economic security system are (Fig.):

economic management strategic

Cloud of tags related to the substantive essence of the concept of strategic management of the economic security system

Source: systematized by the author

It should be noted that domestic researchers are only superficially explore the strategic management of the system of economic security (reluctant to use a systematic approach). For the most part, attention is paid to the stage of the management process in the long-term or the current time interval. At the same time, if an entity does not have a comprehensive economic security system, then security-oriented management will be fragmented.

Conclusions. The study of the theoretical aspects of strategic management of the economic security of economic entities has made it possible to draw the following important conclusions.

1. The importance of strategic management of the economic security of business entities lies in the inability to achieve the long-term production, investment, financial goals of the business structure without properly protecting its corporate resources from the destructive impact on their integrity and efficiency of use of external and internal risks, dangers and threats. Thus, the processes of strategic management of the enterprise should include a set of measures to ensure economic security in the long run by means of managerial influence on the vectors of development of the business entity, and the general strategy of its activity as a fundamental document of future vectors of movement of the enterprise in a competitive environment before the goal of its creation - to determine, among other things, the goals of managing the economic security of a business structure. At the same time, with the necessary resources, first of all, information, time and personnel, a separate strategy for managing the economic security of business entity may be developed in addition to its main strategy for the future activity. However, it is important to keep in mind that these documents should not deny each other, but supplement and clarify the provisions outlined. Nowadays, this is one of the important problems of security-oriented organization management and one of the challenges of traditional profit-oriented management.

2. The author's definition of strategic management of the economic security system has become so essential: it is a process of consistent management decisions aimed at the long-term functioning of the economic security system in order to protect the corporate resources of an entity used to satisfy the economic interests of its stakeholders in risk-filled internal and external environments of the business structure.

3. The need to integrate strategic management of the economic security system into the mechanisms of management of business entities is explained by its peculiarities in comparison with the processes of operational and tactical management of economic security. Tactical management is related to counteracting the negative impact of threats and risks that already exist at a specific point in time, while strategic management aims to predict the likelihood of occurrence and manifestation of threatening phenomena and to create a mechanism for action to prevent them. Operational management of economic security in the practice of modern economic structures is nothing but an attempt to reduce the negative impact of a particular event on the corporate resources of the enterprise through making urgent management decisions. Strategic management in this context boils down to budgeting resources to offset the impact of threats and risks and creating reserves to restore the economic, reputational, human and business potential lost because of them.

The prospects for further research are to formulate an algorithm for implementing strategic management of the economic security system of economic entities, taking into account the features of its architectonics in view of the specifics of the economic activity of the business structure.

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