Analysis of enterprise management in the context of the economic crisis. Course work enterprise management in a crisis. List of used literature
Batkovsky M.A.,
c. e. n.,
manager of LLC "Sargon-N"
Bulava I.K.,
c. e. n.,
Associate Professor of the Department of Financial Management
Mingaliev K.N.,
c. e. n.,
deputy head of the department
"Financial management"
Financial Academy under the Government of the Russian Federation
An enterprise in a state of crisis is faced with three main problems: a shortage of funds and low solvency. As a result, the enterprise has debts to the budget, personnel, creditors, and external borrowings are constantly growing. The main indicators for assessing solvency are liquidity ratios; insufficient satisfaction of the interests of the owners, which manifests itself in a decrease in profitability equity capital enterprises. The declining return on the capital invested in the enterprise is evidenced by the fall in the values of profitability indicators; a decrease in the financial independence of the enterprise, which manifests itself in difficulties with the repayment of future obligations of the enterprise due to the growth of its financial dependence on creditors.
The set of factors that can lead an enterprise to a financial crisis can be divided into two main groups: external in relation to it (it is not able to influence these factors); internal (they arise as a result of the activities of the enterprise itself). They are usually based on miscalculations in the analysis of the market, production, efficiency of capital investments, personnel policy(fig. 1).
To neutralize the influence of undesirable influences of these external and internal factors need to assess financial condition enterprises. The basis of various methods of this assessment is currently the determination of a large number of often unrelated indicators.
The differences between the methods come down to the peculiarities of calculating one or another indicator. Without taking into account the basic laws of the enterprise's economy, a set of multidirectional indicators turns into useless information.
At the same time, analysis based on interrelationships allows you to successfully carry out high-quality diagnostics of the financial condition of the enterprise and make informed management decisions on the financial recovery of the enterprise. For example, if the enterprise has no problems with the sale of products, and its financial situation worsens, then it is necessary to analyze the state working capital... If they are small, then the indicated tendency is associated with a long duration production cycle... In this case, it is necessary to identify the weak links of this cycle. Such a link can be, for example, the duration of payment for released goods. Then the reasons for the deterioration of the financial position of the enterprise are most likely associated with its pricing policy. Consequently, it is necessary to adjust the terms of contracts for the sale of the products it creates.
High product prices may be the result of rising production costs. Then it is necessary to analyze the dynamics of changes in production costs and the reasons for the increase in costs. With a sufficiently high turnover of funds financial difficulties enterprises can be a consequence of the low profitability of the goods produced (services provided). If the volume of sales of the company's products decreases, then difficulties arise with its implementation. In such a situation, the enterprise needs to clarify the volume of stocks of finished unsold products, their consumer properties, as well as the pricing policy and the system for selling goods.
Problems with solvency, financial independence, profitability arise for an enterprise even when it earns insufficient funds or irrationally disposes of the results of its activities. With limited demand for the company's products, it is necessary to master the release of new types of products or reduce production assets. The first option will increase sales volumes, but this will require additional investment. Reducing production assets can increase profits by reducing fixed costs.
When the sale of the company's products is well organized, and its profit is low, then the reason for this may be high costs for raw materials and semi-finished products. In this case, it is necessary to look for suppliers offering prices that are acceptable for the enterprise. The reason for the high costs may be the company's own activities, for example, high costs for lighting, heating and other needs.
Sometimes, to reduce these costs, it is required to reduce the underutilized production assets of the enterprise, because they require too high maintenance and repair costs.
The profit of the enterprise, even after taxes, remains at its disposal not in full, since part of it is spent on paying off fines and penalties. Therefore, the reduction of non-production costs can become a source of funds for the financial recovery of the enterprise. Large volume work in progress, stocks and finished goods indicates that the production plans of the enterprise are formed without justifying sales volumes.
Alignment of production plans and plans for their implementation also contributes to the financial recovery of the enterprise. Violation of the course production process leads to the fact that funds are in the stage of work in progress for a long time. In this case, it is necessary to ensure uninterrupted supplies of raw materials and components, which will also help to improve the financial condition of the enterprise.
Taking into account the considered, as well as many other regularities of the enterprise's economy, makes it possible to increase the efficiency of the financial recovery of the enterprise, which is considered the most important element of anti-crisis management. The management of the financial recovery of an enterprise is an impact on its activities aimed at preventing a crisis, and in case of its occurrence - the localization of possible consequences and stabilization of its current financial condition. It should be aimed at achieving goals: defining current tasks; temporary organization of the enterprise; expedient use of all resources of the enterprise; minimizing the binding of working capital; creation of conditions for the development of the enterprise. Operational management of the financial recovery of an enterprise is considered as management in short term, therefore, in the implementation of its activities, the main attention should be paid to the management of current assets.
The basis operational management the financial recovery of an enterprise is the development and implementation of control actions that regulate its financial activities. Due to the limited amount of resources at the disposal of the enterprise, the need constantly arises for their prompt redistribution to the most important areas of its activities. The criterion for the redistribution of resources is the expediency of their use.
In the process of operational management of purchases, first of all, the tasks of providing the enterprise with materials, equipment, tools, that is, everything necessary for the production of products, must be solved. In this case, it is also necessary to take into account the costs of maintaining the functional state of administrative buildings, workshops and providing everything necessary for the process of functioning of the administrative apparatus. Procurement management in a crisis enterprise should ensure a reduction in the stocks of used resources and an increase in the return on them.
Therefore, in the implementation of operational procurement management, it is necessary to analyze where, when and in what volumes the resources of the crisis enterprise are spent; predict the need for resources; ensure the highest possible level of return from their use.
Operational management of accounts receivable is to manage the debts of consumers of the company's products. To increase the inflow of funds, the enterprise needs to optimize its contractual relations with counterparties using prepayment, partial prepayment (it combines prepayment and sale of goods on credit), transfer for sale, issuance of an intermediate invoice for long-term contracts, a bank guarantee and the use of flexible prices.
For the operational management of the company's financial investments, it is advisable to form one or more investment portfolios. Usually there are two main ways of organizing the management of the investment portfolio of a crisis enterprise. The first is the independent performance by the enterprise of all portfolio management functions. The second is the transfer of most of the functions to manage it to another legal entity in the form of a trust. The investment activity of an enterprise is determined, first of all, by the amount of funds that it can place.
In our opinion, the possibility of financial recovery of an enterprise is influenced by the following main factors: organization of production; production costs of products; labor productivity; resource efficiency; specialization of production; organizational structure of management; control mechanism; frames.
There are four main elements of the operational management system for the financial recovery of an enterprise: management based on control over performance; extrapolation-based management; management based on predicting changes and responding to them; management on the basis of emergency decisions, when tasks arise rapidly and cannot be seen in time. On the basis of measures for the operational management of the financial recovery of the enterprise, a comprehensive anti-crisis management program should be developed, including measures for the extrajudicial financial recovery of the enterprise to bring it out of the crisis. The main activities of this program are designed not only to stabilize the financial condition of the enterprise, but also to increase the efficiency of its activities.
A necessary condition for the successful management of a crisis enterprise is the analysis of its activities. To manage the financial recovery of an enterprise, techniques should be used to stabilize its financial position. These techniques include, first of all, the formation of a loan portfolio, determination of the debt importance ratio, assessment of the quality of the financial condition of the enterprise.
As a rule, the company tries to diversify its financial sources using all possible options for raising funds. Therefore, the enterprise forms a loan portfolio, which is a set of funds raised for financial market... All borrowed funds should be considered as loans to the enterprise - both received from credit institutions and in the form of deferrals in payments to the budget and off-budget funds, advances from suppliers, even if they are issued for long term and no interest for their use. To analyze the loan portfolio of a company in crisis, you can use several quantitative indicators: the amount of the loan; the number of days until the loan is repaid; the rate of the fine for late loan repayment. Using the indicators used in the analysis of the loan portfolio, it is possible to determine the debt importance ratio ( TO IMPORTANT) - an integral indicator calculated by the values of the characteristics of the components of the loan portfolio. Usage TO IMPORTANT allows you to arrange all loans in order of importance and control their repayment. Importance factor i-th debt ( TO IMPORTANT i) can be calculated using the multiplicative model:
where Ai- a row vector consisting of the weights of the corresponding values of the indicators i th loan;
Xi- a column vector consisting of the values of the corresponding indicators i th loan.
The weight of the indicators is calculated depending on which of them is given more importance and how this indicator affects the importance of debt. If the influence is directly proportional, then the weight is more than one, if the influence is inversely proportional, then the weight is less than one.
When assessing the financial condition of an enterprise, it is necessary to draw a conclusion about its financial solvency or insolvency. For these purposes, it is necessary to use the indicator "quality of financial condition" at the time of analysis.
Determination of the quality of the financial condition of the enterprise can be carried out according to the criteria given in table. one.
If signs of insolvency are identified, then it is necessary to apply anti-crisis measures. The process of bringing an enterprise out of the crisis is a set of financial recovery measures that ensure a gradual improvement in the quality of the financial condition of the enterprise and its transfer from the category of crisis to the category of wealthy. This is achieved during the implementation of the process of financial recovery of the enterprise, which consists of several stages:
- analysis of the financial condition of the enterprise (identifying the causes of the crisis);
- financial stabilization of the enterprise in crisis (tightening the financial policy of the enterprise);
- analysis of the possibilities of financial recovery;
- development of programs for the financial recovery of the enterprise;
- taking the enterprise out of the crisis state (improving its financial condition and bringing the enterprise to its solvency).
The way out of the enterprise from the financial crisis is, first of all, in the elimination of the reasons contributing to its occurrence. The planning of this process can be divided into two main stages: the development of an anti-crisis strategy for the enterprise's activities (anti-crisis strategic planning) and the determination of tactics for the implementation of the chosen strategy ( operational planning). Strategic planning of the financial recovery of an enterprise allows to reduce the influence of uncertainty and variability factors external environment the functioning of the enterprise. It concentrates the efforts of the enterprise on the main tasks of getting out of the financial crisis with less losses. Operational measures that ensure the exit of the enterprise from the financial crisis are subdivided into protective (cost cutting, closing of divisions, reducing production and sales volumes, staff reduction) and offensive (active marketing research, increase in prices for products, modernization of production, improvement of management).
The essence of operational measures to get the company out of the financial crisis is to reduce current losses, use internal reserves and obtain the necessary loans.
Operational planning of the financial recovery of the enterprise should be carried out within the framework of the chosen anti-crisis strategy. With the help of operational plans for financial recovery, the resources of the enterprise should be allocated to achieve the strategic goals facing it. The implementation of operational measures for financial recovery that are not related to strategic goals can lead to a short-term improvement in the financial situation of the enterprise, but will not eliminate the causes of the crisis.
Strategic planning for financial recovery begins with defining the long-term goals of the enterprise. The next step strategic planning is the analysis of external and internal reasons for the deterioration of the financial position of the enterprise. The choice of a financial recovery strategy depends on the complexity of the analysis of the financial condition of the enterprise. At this stage, it is necessary to investigate the external and internal environment of the enterprise and assess its real financial position. At the next stage of strategic planning for financial recovery, it is necessary to analyze the long-term goals of the enterprise and identify strategic alternatives for the enterprise out of the financial crisis. As a result of their analysis, one of the alternative strategies for the exit of the enterprise from the financial crisis is determined. Analysis of the possibilities of this exit is associated with the forecast of its financial condition.
Determining the prospects for improving the financial condition of the enterprise should be carried out taking into account the options for its further work: maintaining the existing trends in the development of the internal environment of the enterprise; minor adjustments to the financial policy of the enterprise without the use of significant external sources of financing; probable changes in its external environment; implementation investment projects different directions. The forecast based on the current trends in the internal environment of the enterprise can be short-term and medium-term. He must show the dangers of the prevailing trends in the activities of the enterprise. The forecast of the external environment of the enterprise must determine: the dynamics of macroeconomic parameters affecting it; planned government tax measures; the predictable strategy of competitors.
An analysis of the methods for forecasting the financial condition of an enterprise shows that the overwhelming majority of them allow us to determine only the current financial condition of an enterprise and, at best, the probability of its overcoming the crisis.
As a rule, they do not consider the issues of bringing a crisis enterprise onto the trajectory of sustainable development. At the same time, when solving this problem, it is necessary, from our point of view, taking into account external trends and the development potential of an enterprise, to determine the possibility of its financial recovery through the use of available resources. This requires assessing the expected performance of assets based on the current dynamics of the balance sheet items of the asset and liability or on the basis of expert assessments, as well as determine the development potential of the enterprise and the dynamics of the market price of its shares based on comparing the expected performance of assets with the expected value of liabilities. If the financial recovery of the enterprise while solving these problems is impossible, then it is necessary to develop a recovery strategy, including partial or complete re-profiling of production.
To implement this strategy, it is necessary to develop business plans for the financial recovery of the enterprise, taking into account the costs of their implementation. The purpose of their formation is to determine the main directions of the company's financial activities and assess its expected efficiency. Business plans for financial recovery serve as guidelines for the selection of investment objects and the basis for the development of various planning documents: production plans, graphs.
Literature
1. Kryzhanovsky V.G., Lapenkov V.I., Luther V.I. Anti-crisis management: Textbook. manual for tech. universities. - M .: Prior, 1998.
2. Batkovsky M.A., Balychev S.Yu., Khrustalev Yu.E. Financial recovery and development of the enterprise. - M .: Giprostroymost, 2003.
3. A.V. Grachev Analysis and management of the financial stability of the enterprise. - M .: Finpress, 2002.
4. Mingaliev K.N. Financial management: Electronic textbook. - M .: Financial Academy under the Government of the Russian Federation, 2005.
5. Kovalev V.V. Financial management: theory and practice. - 2nd ed., Revised, add. - M .: TC "Welby", Prospect, 2008.
6. Bozhko V.P., Bulava I.V., Mingaliev K.N. Development strategy of Russian enterprises in the modern period: theory and methodology. - M .: MESI, 2009.
7. Mingaliev K.N., Garin A.V., Vdovtsov A.A. Internal mechanisms of the financial recovery of the enterprise, used to activate it innovation activities// Innovative development of the Russian economy: Proceedings of an international scientific conference. - M .: MESI, 2008.
8. Batkovsky M.A., Bulava I.V., Mingaliev K.N. Economic and mathematical tools for the financial recovery of Russian enterprises in the context of globalization and the world financial crisis. - M .: MESI, 2009.
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The global financial crisis, the recession of the global economy, falling prices for the main Russian export goods created for the state budget and many domestic enterprises serious difficulties in financing not only development, but also current activities, due to the reduction in the volume of business and the number of personnel. The crisis makes you think about change, and the application modern methods project management is the best and proven way to make change quickly, transparently and cost-effectively. The key to change is a commitment to make it happen, an understanding and a determination to use the approaches offered by modern project management. At the beginning of 2009, a number of events of special interest groups of SOVNET were devoted to this topical topic, on the basis of which this article was prepared.
The crisis is both a source of damage and an opportunity for renewal. It performs such important socio-economic functions such as identifying hidden conflicts and disproportions, determining the most powerful owners, restoring the adequacy of socio-economic conditions, renewing elites, etc. ... From the point of view of project management (PM) practice, a crisis is a shortage of any resource that does not allow the continuation and completion of a project (stage, project work) on acceptable terms. If all the conditions are met, and the project is still "not going", then there is a deficit of management resources.
The results of 2008 and the first quarter of 2009 are not encouraging. However, the crisis began much earlier, its precursors were talked about so often that they simply stopped paying attention to it. “The current financial crisis differs both in depth and scope - it is, perhaps, for the first time since the Great Depression that has gripped the whole world. The crisis mechanism was triggered by problems in the US mortgage market. However, the crisis is based on more fundamental reasons: macroeconomic, microeconomic and institutional. Information asymmetry has played a key role in the development of the current crisis1. The structure of derivative financial instruments has become so complex and opaque that it has become almost impossible to assess the real value of portfolios of financial companies ... Credit market. fell into paralysis. The development of the situation in the financial sector has seriously affected the real sector of the economy. "
In addition to frustrated American finances, there are other global problems. Even a simplified picture of their basic relationships is striking in its complexity. The solution of these problems requires joint, and considerable, efforts of many states, tk. each of them (nuclear weapons, greenhouse effect, acid rain, etc.) can intensify at any moment and give rise to such a crisis, in comparison with which the current one may seem like happiness.
The world press is hotly debating the question of who is to blame for today's economic difficulties. 76% of US residents blame banks and financial companies, 58% believe that the main culprits of the collapse are deliberately insolvent home buyers, etc.
Let's highlight two main aspects of the current crisis.
1. Its widely recognized main beneficiary is the overheated American economy, which needs a decent excuse to "deflate financial bubbles."
2. Its officially named culprits are actually invulnerable.
Meanwhile, the excessive dependence of many countries of the world on the American economy makes the United States the main "exporter" of domestic problems.
The Russian economy is often presented as a victim of the global crisis, but in reality it is not. Long before 2008, many experts warned that key indicators of the state of the financial, economic and social sphere RFs are not only alarming, but have a clear tendency to increase the mismatch of the entire system and reduce its stability. The deepening financial difficulties demonstrate Russia's dependence on both the state of affairs in the global economy and unresolved problems of governance within the country. After a series of international high-level meetings, it became clear that it is extremely difficult to work out a unified solution to combat the crisis, and the reason for this is the global geopolitical contradictions that are very difficult to overcome.
In Russia today, the most complete and objective open document is the "Expert report", in the development of which the authors of the article took part. An analysis of the existing doctrinal documents of the Russian Federation shows that today there is no scientifically grounded strategy, methodology for its development and appropriate project management tools for effectively solving the problem of recovering domestic enterprises from the crisis and transitioning to an innovative path of development.
2.SYSTEM APPROACH
“Crises are an integral part of living systems. This theoretically understandable reasoning is painful when we face the crisis in practice. Especially when the crisis goes beyond the system that we are able to manage personally. " To successfully overcome the crisis, among other things, it is necessary to maintain a certain level of diversity in the system. Changing the conditions of activity in difficult times and after requires new settings, projects, and sometimes areas of activity (types of business) from any business entity. If a system does not have the stock of variety or readiness for change, it may not survive the crisis. In this regard, the development of such alternative projects as Project Russia is very timely. The systematic approach is widely used in project management, which means that it is necessary to use it to analyze the current financial and economic situation and ways out of it.
The statistics of the use of the word "crisis" in classical documents on PM is interesting. The PMI PMBOK® Guide never mentions it - just problems and conflicts in relation to organizational process assets and project team management. In document
IPMAICB 3.0 is a very common word, but it is used in a narrow sense. There is a specific element of competence called Conflicts and Crises, but it “covers ways to overcome conflicts and crises that may arise between individuals and parties involved in a project or program”. We are not talking about an external systemic crisis. This situation is surprising, given that there is a very large section of general management devoted to crisis management and has significant features.
We were convinced that “in the USA and Western Europe, crisis management is being actively implemented in banking as an important and necessary element of the successful functioning of financial institutions. Moreover, crisis management has become an attribute of the entire spectrum of business, financial and organizational infrastructure of market relations. Companies that manage risks at the required level receive certain benefits from the state and additional discounts for insurance. Crisis management is a comprehensive program that mitigates the consequences of risk realization in the worst-case scenario in a deep economic recession.
Unlike risk management, crisis management is a completely independent field of activity, the purpose of which is to reduce the consequences of the crisis, and not to exclude its causes. " In stable years this worked successfully, but 2008 showed again that the optimization of individual, i.e. American, elements of the world financial and economic system does not mean its optimization as a whole.
For a better understanding of the mechanism of action of various crisis forces, the scientific results of the theory of catastrophes can be used. This theory studies general patterns, principles and approaches to various catastrophic situations and is one of the parts of a more general theory of complex systems. The global systemic crisis today has become main theme, therefore, the corresponding requirements for competence, models, processes should be built into PM systems as soon as possible. The authors of this article started this already in the fall of 2008, using as the basis of their work the Eurasian Project Management Standard (ESPC) as a logical development of the ideas of ICB (IPMA), NTC (SOVNET), a set of PMI standards, past and modern developments of the PM of Russia, CIS and leading Asian countries. The section "Features of project management in crisis conditions" of the new edition of STC SOVNET includes a number of provisions also proposed by the authors.
It is widely believed that the Chinese write the word "crisis" with two hieroglyphs for the words "danger" and "opportunity", i.e. for them in any difficult situation, apart from problems, there is also potential. Not everyone agrees with this interpretation, but the current state of affairs shows that even in difficult conditions, the Chinese school of state, economic and project management uses the available opportunities effectively and all prospects are open for the PRC.
out of the crisis among the first. “Today, the Chinese economy has become the third largest in the world, surpassing the German ... At the same time, many experts prefer to compare the economies of different countries to calculate GDP at purchasing power parity, which takes into account the difference in prices. In terms of this indicator, China has been in second place for several years now, with a significant lead over Japan, which is in third place. "
The crisis in Russia has its own characteristics, so thoughtless copying of other people's measures is unacceptable. The global systemic crisis is global, but most of the anti-crisis measures, unfortunately, do not pursue the goal of protection, prosperity and prosperity for everyone at the same time. IMF experts also speak about the dangers of blind copying. “Developing economies have suffered more pain than developed ones. This stems from a sharp outflow of capital, and a decrease in demand for export products from developed markets, and a fall in raw materials prices ... developed countries... Developing countries must deal with the crisis in their own way, experts of the fund are sure. Russian anti-crisis policy is generally similar to what the IMF recommends. But for some reason, the results are far from brilliant: in the first quarter of 2009, GDP collapsed by 9%, industrial production- by 14.3%, and the manufacturing industry collapsed by 20.8%. Unemployment rose 34.4%. Is this a bad prescription, a misuse of a medicine, or is it just that there is still a recovery to come? " ...
There is no single anti-crisis strategy equally beneficial for all countries, just as there are no universal models of anti-crisis project management. That is why, on the basis of the ESCC, the Eurasian standard for anti-crisis project management was developed as a solution that integrates world experience and the national interests of Russia and other Eurasian countries. This approach does not deny other models and standards, but clearly distinguishes between their market segments of application and gravitates towards the IPMA ideology as initially multicultural.
In our practice, we use the following definition system.
1. Positioning the crisis (Fig. 2).
■ Crisis in the external environment of the project:
Systemic crisis in the external environment of the project;
Local crisis in the external environment of the project.
■ Crisis in the internal environment of the project:
Systemic crisis in the internal environment of the project;
Local crisis in the internal environment of the project:
a) crisis in the subject area of the project;
b) crisis in project management;
c) crisis in other functional areas of the project.
2. The source of the crisis.
■ External in relation to the project (imposed from the outside).
■ Internal to the project (initiated from within).
Rice. 2. Positioning the crisis
3. Relationship "subject - object".
■ The crisis is developing under the influence of factors beyond the control of the project manager.
■ The project manager organizes and manages the crisis to his advantage.
4. The nature of the activity, team, manager.
■ Offensive, i.e. active use of the crisis to improve conditions and opportunities for solving project problems.
■ Defense, i.e. taking protective measures to preserve, as far as possible, the conditions and possibilities for solving the problems of the project.
Based on the above systematic approach, we distinguish two areas:
1) anti-crisis project management (dealing with the consequences of an uncontrollable crisis);
2) crisis management of the project (solving management problems by organizing deliberate controlled crises).
Anti-crisis project management(ACPM) is a synthesis of crisis management, project management, risk management and management of crisis-affected functional areas ("taking a ship out of rough waters into calm waters"). Crisis project management is a standard tool of many stakeholders and project participants, used consciously or unconsciously to cover up the achievement of their goals to the detriment of others ("make the water cloudy", "fish in troubled waters").
For any area of application of these approaches, it is essential that a systemic crisis cannot be avoided and cannot be prepared for.
In this difficult time, one should not be afraid of losses, the main goal of the organization (and its projects) should be to increase its own efficiency. Moreover, a systemic crisis cannot be overcome within the framework of a separate project; a way out of it is possible only through the joint efforts of all actors that form the structures of a new development cycle.
In the field of PM, there is also a crisis of management models. The current crisis in Russia looks more and more like a catastrophe; it has engulfed the real sector of the economy and has become a serious problem for company and project managers. Do they have the ability to withstand the current situation? Yes, because the global PM models have summarized the best experience gained. No, because the outbreak of the crisis is unprecedented in scale, it already exists, and PM models to overcome it will be developed only a few years later. Was it possible to introduce management technologies into these models in a crisis of this magnitude? Apparently, it is impossible, because the following axioms are laid down by default in widespread Western standards:
■ optimization of management for a stable prosperous economy, sophisticated business processes and management competencies;
■ focusing on the interests of a project or corporation;
■ Eurocentrism and the superiority of Western management culture.
If you have a sufficient understanding of how your projects are embedded in large systems, then you can continue to work in the same mode. If not, then it's time to decide and amend the management system, to use more dynamic corporate project management models, which are distinguished by the following features:
■ open format, fixation not on subtle nuances of methodology, but on goal-setting;
■ initial localization, organic connection with mentality, language, business practice;
■ proximity to control objects;
■ minimum response time to changes in conditions;
■ focus on regional and national needs.
An example of the implementation of this approach is the AKPM system (Fig. 3), developed for the following areas of application of the project, business: liquidation, conservation, conservation; merger, conversion, development; reduction of production, personnel; restructuring of the financial portfolio, portfolio of projects; introduction of new technologies, change of strategy.
The objectives of the ACPM are achieved through the organization of protective and regulatory measures in three areas: external environment, internal environment, management system. A feature of the AKPM is a prompt response to changes both outside the enterprise and inside it. In such a situation, the need for analyzing the prospects of the enterprise as a whole, in developing a strategy for its further development, increases many times over. Only after having defined the long-term goals, having developed the criteria for assessing the result, it is possible to help the enterprise in solving problems. The ACPM model is aimed at identifying latent potential to develop the company and help company managers at all levels. ACPM is a systematic application of methods and tools for managing various functional areas of projects, portfolios and programs in order to obtain specified results in a crisis of society, national economy, industry, project.
4. PRACTICE ON ANTI-CRISIS PROJECT MANAGEMENT
What actions need to be taken?
■ Intensive monitoring of the situation in all areas important for business.
■ System analysis of the collected information according to the standard scheme or in the anti-crisis mode.
■ Analysis of the position of the enterprise or project on the market, clarification of the strategy.
■ Scenario planning.
■ Harmonization of the project with the external environment during a crisis.
■ Maintaining a clear view and sober thinking.
What tools do you need?
■ A structured list of world projects is used to identify the link between the project and environment... This list should contain projects of the company's counterparties, the industry in which it operates,
national economy, interstate structures.
■ A set of strategic analysis tools.
4.2 Tidying up the internal environment
The internal environment of the company and the project is completely in your hands. The level of volatility does not have to correspond to the state of the market.
Actions (in this case, they should essentially be similar to the actions taken by the ship's crew in a difficult situation: "Rush team!", "Clothes on the first date!"
■ activate the anti-crisis mode of the management system, which provides increased control, reduced reaction times, unnecessary risks and costs;
■ get rid of unnecessary projects, works, resources;
■ strengthen control of the most important parameters;
■ Telling the team the truth - it will build trust and support the initiative;
■ Make changes vigorously and systematically.
As tools in this case you can use the following.
■ Structured list of enterprise projects. He is completely in your hands.
Update it, analyze the project portfolio, make financially sound decisions on the composition, relationships and order of implementation of projects, rational allocation of resources. You must decide whether to continue the project, change it, postpone, terminate, outsource, collaborate with other businesses, or create new project... The use of the ACPM implies turning to less costly, simple and quick-to-use tools, as well as a change in personnel policy.
■ Realization of core values: adherence to the anti-crisis strategy; effective program and portfolio management; rational goal setting; application of the opportunities of competition.
■ Designing for success after a crisis. The sharper competitive fight, the more powerful tools it requires, therefore the ACPM is the right choice for energetic action in a crisis and after it.
4.3 Configuring the control system
Actions. The main thing in this case should be the formation of a management system, and it is necessary to initially build it with a margin of safety, since business in Russia is a constant crisis.
Tools.
■ In managing a company and its projects in a crisis, it is recommended to use a dynamic model that reflects not only the current state of affairs, but also future changes.
■ A dynamic model of enterprise management is implemented using solutions for project portfolio management that allow you to quickly respond to changing conditions and achieve strategic goals with minimal cost resources.
Don't look for a ready-made anti-crisis system, create it according to your own needs. A crisis - this is a chance for the development of production, innovative technologies, the opportunity to strengthen its position through mergers and acquisitions and the use of sharply depreciated assets and labor.
We suggest the following.
■ Set yourself up for a long and difficult way out of the crisis.
■ Rely only on your own strength.
■ Move from process models to competency models.
■ Develop anti-crisis models.
■ Divide projects, reduce costs and risks.
■ Develop portfolio management.
■ And most importantly: teach PM "in a real way"!
5 PORTFOLIO AND INNOVATION MANAGEMENT IN A CRISIS
Today, it is imperative to take into account the specifics of the crisis, as well as the development of project management, the emergence of new methodologies and a change in the scale of their application. The crisis implies instability, therefore it is necessary to abandon the temptation to use a mechanistic approach and apply a dynamic model of enterprise project portfolio management (Fig. 4), which provides continuous feedback and monitoring, constant assessment of the significance of all projects and business areas.
In crisis conditions, the importance of certain areas of project management changes.
In practice, this means that corporate solutions for managing portfolios of projects and programs come to the fore. It is these solutions that provide an analysis of the entire project activities within the enterprise in real time. At the same time, you are able to see the whole situation as a whole, from the standpoint of various criteria and parameters and the experience of project managers, analysts and experts. The ability to analyze various scenarios for the development of events is especially relevant in difficult conditions. Risk management is gaining in importance, and it is during the crisis that the harmonization of corporate risk management systems and project portfolio management systems is required. For the last component, three main tasks will be relevant:
1) determination of demand and supply of resources for early detection of their redundancy or insufficiency;
2) optimization of query planning and resource allocation using scenario analysis methods;
3) global distribution of resources according to various criteria, assignments in real time.
Financial management is of particular importance in a crisis. Corporate system portfolio management (PMSM) does financial flows enterprises are transparent to managers. The crisis inevitably leads to the depreciation of assets, therefore the task of managing them in accordance with strategic goals should also be addressed within the CSPC. At this time, innovations are of particular relevance. Unfortunately, right now, many businesses are struggling to find opportunities for innovative development.
With the transition of the Russian Federation to a liberal market model, the Comprehensive Program of Scientific and Technological Progress and its Socioeconomic Consequences, which existed in the USSR until 1990, was curtailed, along with it, domestic achievements in the field of innovative development were lost. At the same time, the concept of domestic managerial and social innovations was also destroyed, without which all new developments will gradually go to those countries where they will be in demand. Nevertheless, even in such conditions, an effective model for managing innovative projects can yield very positive results.
Today crises are perceived as a natural property of biological, social, financial and economic systems. Professionals must be able to work no matter what happens, so in difficult economic conditions, value increases even more professional management projects. Competently carry out measures against the crisis,
to form a portfolio of projects to successfully overcome it and, more importantly, to prepare innovative development after stabilization of the situation - this is the basis for success.
SOURCES
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Palagin Vladimir Sergeevich - Ph.D. Sci., Associate Professor, CPM, PMP, General Director of the Eurasian Project Management Center (Moscow)
Karlinskaya Elena Viktorovna - General Director of InnIT LLC (Moscow)
Magazine PROJECT AND PROGRAM MANAGEMENT ■ 03 (19) 2009
Introduction
The term "crisis management" has emerged relatively recently. It is believed that the reason for its appearance is to reform Russian economy and the gradual entry of Russia into the zone of crisis development. Not many expected that the result of the reforms would be a crisis, but many today understand that only a new type of management can bring the economy out of the crisis. This management is called "anti-crisis". But the name is the name, and its essence causes great debate. The crisis, no matter how deep it may be, will eventually pass. The history of the economic development of many countries confirms this. And the need for anti-crisis management will disappear? Does this mean that this type of governance is temporary or purely pragmatic? Why, then, study it, create a scientific concept and train specialists in the higher education system?
Of course, the aggravation of the crisis in Russia has caused the need for effective crisis management. This is an order of practice. But the trends in the development of management science lead us to the need to develop the concept of anti-crisis management. Its prerequisites are the concepts of cyclical development, controllability, resource conservation, motivation, time saving, social partnership and many others. Their combination testifies to the real danger of a crisis in any, even the most successful management.
Objectively, a crisis is characterized by a multitude of interrelated situations that increase the complexity and risk of management. At the same time, the distancing of the crisis and its prevention, stabilization of the crisis, the development of one into another, a way out of the crisis, which does not exclude it both from the present and from the future, are possible.
At different stages of the development of public consciousness, the attitude to crises was different. For example, one position was that a crisis is always a consequence of natural phenomena, and the other that a crisis is a product of the person himself, his mistakes, prejudices, ignorance, and disbelief.
The elementary task of an enterprise in a crisis situation is to reduce costs. In the pre-crisis situation, there was a surplus of personnel at most enterprises. In a crisis, the reduction of its number is becoming an urgent need.
Practice shows that an important factor that can contribute to the implementation of effective anti-crisis management is a well-selected, manageable, quickly and flexibly responding to any changes in the external environment of the company's personnel.
The development of the theory and analysis of the practice of anti-crisis management is the most important task, without the solution of which at the macro and micro levels it is impossible to significantly change the socio-economic situation for the better.
The object of research of the course work is JSC "Mordovspirt" distillery "Kovylkinsky".
The aim of the course work is to analyze management financial activities JSC "Mordovspirt" distillery "Kovylkinsky" in crisis conditions, as well as the development of an anti-crisis strategy at the investigated enterprise.
To achieve this goal, it is necessary to solve the following tasks:
Study of the need for anti-crisis management at the enterprise;
Consideration of the process of formation of the anti-crisis strategy of the enterprise;
Research of financial results of JSC "Mordovspirt" distillery "Kovylkinsky";
Development of measures to improve the efficiency of using the anti-crisis strategy in the financial activities of the enterprise.
1 Theoretical aspects of anti-crisis management of the organization
1.1 The essence and role of the crisis in the enterprise
The evolution of human society has proved that there is no system that would not develop in the rhythm of cyclical dynamics, experiencing the phases of origin, emergence, spread, maturity, fall and transition to a new state. The most difficult and contradictory period in the dynamics of any system is the phase of decline (crisis). This is a painful period of disruption of the existing equilibrium of the enterprise, the emergence of a mass of possible alternatives for its future development. As the study of crisis phenomena shows, each crisis is unique depending on the factors that determine it, is objective and has a certain pattern of occurrence and course.
Many researchers believe that in the development of any organization there is a likelihood of a crisis, which is determined not only by errors in the management strategy, insufficient attention to development problems, but also by objective factors (fluctuations in the market situation, the need for change organizational structure), external economic conditions, as well as the political situation. In many cases, it cannot be eliminated, therefore it should be considered as a natural phenomenon reflecting the cyclical nature of development. Consider the approaches of different authors to the concept of "crisis" (table 1).
|
Abalkin L.I |
A crisis is a deep disorder, a sharp turn, a period of exacerbation of contradictions in the process of development of any sphere of human activity. |
|
Zharkovskaya E.P. |
A crisis is an extreme aggravation of internal industrial and socio-economic relations, as well as relations between an organization and the external economic environment. |
|
Baldin K.V. |
A crisis is an extreme aggravation of contradictions in the socio-economic system of an organization, threatening its viability in the environment. |
|
Zakharov V.Ya. |
A crisis is a negative, deep and often unexpected change, but at the same time it carries new opportunities for development. |
From our point of view, a crisis is a natural process that develops over time in the form of contradictions, creating a threat to the stable functioning and sustainable development of an industrial enterprise, requiring modern approaches to the formation of anti-crisis management.
The concept of "crisis" is closely related to the concept of "risk", which in one way or another affects the methodology for the development of any management decision. Eliminate the expectation of a crisis from it, and the sharpness of risk perception will disappear, not only crisis situations will become unexpected and from this even more difficult, but also quite common mistakes. You can look at the problem of the crisis from a different angle. The socio-economic system in any of its kind and any form, whether it is a social formation, a firm or an enterprise, has two tendencies of its existence: functioning and development.
Functioning is the maintenance of vital activity, the preservation of functions that determine its integrity, qualitative certainty, essential characteristics.
Development is the acquisition of a new quality that strengthens vital activity in a changing environment.
Functioning and development are closely interrelated, reflect the dialectical unity of the main trends in the socio-economic system. This relationship can be seen in its characteristics and indicators (Appendix A). For example, the functioning of the socio-economic system is characterized by the obligatory presence of a subject of labor, means of labor and a person carrying out labor activities. At the same time, the functioning of the socio-economic system is possible only with a certain correspondence of these signs: the means of labor can change its object, a person must own the means of labor, the result must correspond to the interests and needs of a person. These are all conditions for functioning. Development characterizes changes in the subject, means of labor and in a person.
The criterion for these changes is the emergence of a new quality that strengthens the stability and harmony of the functioning of the socio-economic system or creates fundamentally new conditions for this. The fact of development is an increase in labor productivity, a change in its nature, the emergence of a new technology, an increase in the motivation of activity. At the same time, of course, the conditions for the functioning of the socio-economic system are changing.
The connection between functioning and development has a dialectical character, which reflects the possibility and regularity of the onset and resolution of crises. Functioning hinders development and at the same time is its breeding ground, development destroys many processes of functioning, but creates conditions for its more sustainable implementation.
Thus, a cyclical development trend arises, which reflects the periodic onset of crises. Crises are not necessarily destructive, they can proceed with a certain degree of severity, but their onset is caused not only by subjective objective reasons, by the very nature of the socio-economic system. It was found that along with the negative aspects, the crisis also has positive ones - it gives an impulse to development, performing a stimulating function. Thus, during a crisis, incentives arise to reduce production costs, increase profits, and renew fixed capital on a new technological basis. The previous stage of development ends with the crisis and the next one begins.
The reasons for the crisis can be different. They are divided into objective, related to the cyclical needs of modernization and restructuring, and subjective, reflecting errors and voluntarism in management, as well as natural, characterizing climate phenomena, etc. (Appendix B).
The causes of the crisis can be external and internal. The former are associated with trends and strategies of macroeconomic development or even the development of the world economy, competition, the political situation in the country, the latter with risky marketing strategies, internal conflicts, shortcomings in the organization of production, imperfect management, innovation and investment policies. If we understand the crisis, thus, we can state the fact that the danger of a crisis always exists and it must be foreseen and predicted. The consequences of a crisis can lead to abrupt changes or a soft, long-term and consistent exit, and post-crisis changes in the development of an organization are long-term and short-term, qualitative and quantitative, reversible and irreversible.
Different consequences of the crisis are determined not only by its nature, but also by anti-crisis management, which can either mitigate the crisis or exacerbate it (Figure 1). Management capabilities in this regard depend on the goal, professionalism, management art, the nature of motivation, understanding of the causes and consequences, responsibility.
Practice shows that crises are not the same not only in their causes and consequences, but also in their very essence. The need for a ramified classification of crises is associated with the differentiation of means and methods of managing them. If there is a typology and understanding of the nature of the crisis, there are opportunities to reduce its severity, shorten the time and ensure painlessness of the course (Appendix B).
Figure 1 - Possible consequences of the crisis
On the issue of the crisis, macro-crises and micro-crises can be distinguished. A macro-crisis is characterized by rather large volumes and scales of problems, while a micro-crisis captures only a separate problem or a group of problems.
The peculiarity of the crisis is that, even being a local or micro-crisis, as a chain reaction, it can spread to the entire system or the entire development problem, because there is an organic interaction of all elements in the system, and problems are not solved separately. But this occurs when there is no management of crisis situations, there are no measures to localize the crisis and reduce its severity, or vice versa, when there is an intentional motivation for the development of the crisis, this is also possible.
1.2 The need for crisis management at the enterprise
In modern conditions, one of the priority areas, especially at the level of enterprises, associations, concerns and other economic entities, is the development of basic theoretical and methodological provisions for the development of anti-crisis management.
Anti-crisis management is a management in which foresight of the danger of a crisis is set in a certain way, analysis of its symptoms, measures to reduce the negative consequences of the crisis and the use of its factors for further development.
The concept of "anti-crisis management" was introduced into scientific circulation relatively recently. Such scientists as G.A. Aleksandrov, A.G. Gryaznova, N.D. Guskova, G.P. Ivanov, E.M. Korotkov, E.S. management science, as well as reforming the Russian economy and its gradual entry into the zone of crisis development. Not many expected that the result of the reforms would be a crisis, but everyone understood that only a new type of management could bring the economy out of the crisis.
Anti-crisis management differs significantly from the usual methods, forms and technologies of traditional management, since its main goal is to ensure a strong position in the market and stable stable finances of the company in any economic, political and social metamorphosis in the country. Within its framework, mainly those management tools are used that in Russian conditions are most effective in resolving temporary financial difficulties and solving current problems of the firm. Anti-crisis management is aimed at ensuring that even in a difficult situation in which an enterprise finds itself (for example, on the verge of bankruptcy), it would be possible to introduce such financial mechanisms that would make it possible to get out of difficulties with the least losses for the enterprise.
As a rule, in economic development, deliberately or naturally at all levels of the economy, various kinds of crisis phenomena periodically arise, the diagnosis and prevention of which are the subject of anti-crisis management. The danger of a crisis always exists, even when there is none. Therefore, it is very important to know the signs of the onset of crisis situations, crisis phenomena with their accompanying conditions, which are the object of anti-crisis management.
In general, the socio-economic system is a self-regulating system. This means that in its existence there are mechanisms for restoring the necessary and relative equilibrium. But management does exist because, on the one hand, it is a part of these mechanisms, and on the other, in order, relying on these mechanisms, to ensure a less painful and more consistent development of the socio-economic system from the point of view of human interests. But this is possible only if the trends in the behavior and development of the socio-economic system, its characteristics and signs of the state, the onset of certain phases of this state and stages of objective development are known.
Crisis management is the process of preventing and overcoming an organization's crisis. Crisis prevention presupposes a comprehensive systematic and strategic approach to the analysis and solution of emerging problems. This approach characterizes anti-crisis management in a broad sense, it presupposes the preservation and strengthening of the competitive position of the enterprise. The solution of the second task - overcoming the crisis is always specific, therefore it is called anti-crisis management in a narrow sense, this approach involves preventing the bankruptcy of an enterprise and restoring its solvency.
In recognizing a crisis, an assessment of the interrelation of problems is of great importance. The existence and nature of such a relationship can also say a lot about the danger of the crisis and its nature. But such a prediction requires a clear set of signs and indicators of crisis development, a methodology for their calculation and use in analysis. Predicting crises is possible only on the basis of a special analysis of situations and trends. In general, all indicators of assessing the state of the socio-economic system are involved in the recognition of crises.
Recognition is based on both existing management indicators and specialized ones, which, probably, will still have to be developed in the future. For example, a decline in labor productivity or production efficiency cannot but reflect the possibility of a crisis. It can be accidental and episodic, but it can also indicate a trend of crisis development. Of great importance is not only the system of indicators reflecting the main signs of the crisis, but also the methodology for their design and practical use. In the modern control mechanism, this is its weakest link. Ultimately, we are talking about the methodology for recognizing the crisis in all aspects of this process: the goal, indicators, their use in the analysis of situations, the practical value of anticipating crises.
The methodology for recognizing a crisis is closely related to the organization of this work, which presupposes the presence of specialists, the functions of their activities, the status of recommendations or decisions, and interaction in the management system. The recognition of crisis situations and the anticipation of crises today, due to the great complexity of management and the increasing scale of production activities, must be put on a professional basis. Overcoming crises depends on the methods of analyzing crisis situations and the availability of specialists in the field of crisis management. Management professionalism is not limited to the skills of normal, successful management. It should also manifest itself in conditions of increased risk, extreme situations, and crisis. The absence of anti-crisis management reflects the real danger of a long-term crisis developing at any, even at the most successful enterprise. Consequently, anti-crisis management should be reduced to the implementation of the following measures:
1) preliminary diagnosis of the causes of a crisis situation at the enterprise;
2) analysis of the external environment and the potential of the enterprise's competitive advantages for choosing a strategy for its development;
3) business planning to increase competitive advantages and financial recovery of the enterprise;
4) development of procedures for the financial recovery of the enterprise and the control system.
Anti-crisis management of enterprises should have a systemic basis. This is due to the fact that in addition to the internal crisis at the enterprise there is also a macroeconomic crisis of the economy as a whole, which leaves a certain imprint on anti-crisis management measures. Nevertheless, there are some standard functions of anti-crisis management, the consideration of which should be carried out, in our opinion, on examples from foreign experience in anti-crisis management.
Thus, we can conclude that the need for anti-crisis management is due to the regularity of the emergence of crisis phenomena in the socio-economic system, (including at enterprises), which are known to be cyclical. Overcoming crises is a manageable process. This is evidenced by many crises that took place in the history of human development, production and economy. It is important to be able to recognize and overcome the dangers that can lead to a crisis, to be able to predict and prevent the possibility of their occurrence in the enterprise. In many respects, the success of anti-crisis management in modern conditions depends precisely on the timely recognition of the crisis, the symptoms of its onset.
1.3 Formation of the organization's anti-crisis strategy
Anti-crisis strategies are strategies that optimize the behavior of corporations in the face of a downturn in the industry, a steady decline in the main financial indicators of the corporation's activities and the threat of bankruptcy. They include a set of measures in the field of planning, personnel management, finance, relationships with support groups, as well as legal and other measures in order to protect the company from the threat of bankruptcy or significant recession and create the conditions for a turn towards corporate recovery. The decline in production, financial and other important indicators that determine the effectiveness of a firm's actions in the market is natural, deterministic; its causes can be investigated and appropriate adjustments made to behavior strategies that mitigate the effects of the recession.
The purpose of anti-crisis management is the development and priority implementation of measures aimed at neutralizing the most dangerous (most intensively affecting the final phenomenon) pathways leading to a crisis state.
Here one should pay attention to one more fundamentally important circumstance: the combination of strategy and tactics of anti-crisis management. The complexity of this problem lies in the fact that, on the one hand, strategic decisions aimed at preventing a crisis must be made and implemented at the early stages of management, when the process of moving towards a crisis has not yet acquired a cumulative character and therefore has not yet become irreversible. On the other hand, decisions made in the early stages are based, as a rule, on very weak and therefore not always reliable signals about the emergence of unfavorable tendencies.
Tactical decisions, in contrast to strategic ones, are made on the basis of more complete and accurate information reflecting the current (as of the moment) state production system... However, there is either very little or no time for a radical restructuring of the enterprise in order to prevent a crisis. In this case, we are talking either about extraordinary measures to prevent the crisis, which can still be implemented in a short period, or about measures aimed at overcoming the crisis that has already begun.
The analysis of a crisis-threatening situation begins with an industry analysis: it is necessary to find out whether the reasons for the decline in the corporation are determined by its individual behavior or are the result of more general reasons that caused the decline in the industry as a whole. First, you need to define what is meant by a downturn in the industry. In the most general sense, a recession is a situation when demand is lower than the maximum volume of production. Economic theory argues that the result of this excess capacity in the industry is the emergence of a certain system of actions in it. These activities are designed to increase sales in order to maintain full production utilization. All of this can take the form of a price war. It is also likely that companies will leave the industry as the marginal producer can no longer operate profitably.
The main factors of the decline can be divided into internal and external (Table 2). Let's consider these factors in more detail and highlight the most common ones.
Table 2 - Main factors of decline
Signs of recession are often much easier to spot than their underlying causes. The set of these features may be unique for each company, however, the most characteristic and frequently encountered ones can be distinguished:
A drop in profitability, which is reflected in a decrease in profit before tax or as a percentage of sales or in a decrease in ROI (return on investment);
A drop in the specific volume of sales in comparison with the existing ones in the industry; this indicator can be measured in sales per employee, sales per square meter of factory area, per unit of production capacity, etc .;
The increase in the level of financial dependence due to the constantly growing debt;
Liquidity problems in current and urgent terms, as well as problems with stocks, debtors and creditors;
Decrease in market share; which indicates that the company is on this market uncompetitive.
The response to a crisis may be to choose a cost-cutting strategy or a turnaround strategy.
There are the following cost reduction strategies: organizational change, financial strategies, cost reduction strategies, asset reduction strategies, profit creation strategies.
A pivot strategy includes changes in overall marketing efforts, redeployment or re-targeting of existing goods (services) while developing new ones. Cost reduction and turnaround strategies can be implemented simultaneously. Specific pivot strategies are strategies for change and pricing, reorientation to specific customers and specific products, a strategy to develop a new product or rationalize a product range, and focus on sales and advertising.
In the face of the threat of bankruptcy, exit strategies are used, the task of which is to minimize the damage. This is achieved through optimal divestiture or management buyouts. Withdrawal of investments can be carried out through a franchise agreement, transfer of contracts, sale of business units or the entire enterprise, division and separation, exchange of assets.
The management buyout is usually carried out by the management team of the enterprise, which may include employees, organizations that provide most of the share capital as well as banks and other institutions that lend money to the business. The buyouts are funded by a combination of capital expenditures secured by the managing institutional shareholders and loans.
The economic strategy of an enterprise consists of a number of elements, the most important of which, generalizing almost all sections of the strategic program for the technical and social development of an enterprise, is the strategy of preventing the insolvency (bankruptcy) of the enterprise. The interweaving of elements of economic strategy does not allow sufficiently strictly to eliminate the strategy of anti-crisis management from the economic strategy, to give anti-crisis management special, only inherent features.
Thus, the entire economic strategy in the aggregate should be proactive and preventative. Both commodity and price, and the strategy of reducing production costs, and the strategy of the enterprise's behavior in the securities market, like all other elements of economic strategy, should be aimed at preventing insolvency by constantly maintaining a high level of competitive advantage of the enterprise. Nevertheless, there can and should be defined special, specific rules and techniques used in the management of the enterprise, directly aimed at performing the function of preventing bankruptcy.
2. Analysis of financial activities in JSC "Mordovspirt" branch - distillery "Kovylkinsky"
2.1 Research of the financial results of the enterprise
Branch - distillery "Kovylkinsky" OJSC "Mordovspirt" began its activity in 1963. Over the years, the plant has carried out reconstruction, modernization aimed at increasing efficiency and increasing production capacity. The main activity of JSC "Mordovspirt" distillery "Kovylkinsky" is the production and sale of alcohol. The company specializes in the production of ethyl alcohols from grain raw materials: "High purification", "Extra", "Lux", "Alpha". The production of alcohol per year is 800 tons for the amount of 168.0 million rubles. The supply of alcohol is carried out to the most famous enterprises of the alcoholic industry: OOO Rus-Alko, OOO Rodnik and K, OAO Astrakhan Distillery, OAO Moscow Plant Kristall, OOO Saranskiy Distillery.
The distillery produces dry feed yeast in the amount of 2500 tons per year for the amount of 30.0 million rubles, which is required as a protein and vitamin supplement in the production of feed and feed mixtures for large cattle, birds, fur animals. Of no small importance is the release of carbon dioxide, which is used both for food and for technical purposes. The production of carbon dioxide per year is 180 tons in the amount of 500 thousand rubles. In order to achieve the release and supply to the market of high-quality alcoholic beverages that meet the needs and expectations of consumers, as well as to expand the sales market and sustainable income growth of OJSC Mordovspirt, the Kovylkinsky distillery operates in accordance with the international quality standard ISO 9001: 2008 (GOST R ISO 9001: 2008).
On the long path of development, the enterprise provided itself with the main capital - a good name, which is forever associated with high quality products.
Consider the results of financial activities of JSC "Mordovspirt" distillery "Kovylkinsky" and give the data in table 3.
Table 3 - Indicators of financial stability of JSC "Mordovspirt" distillery "Kovylkinsky"
|
The name of indicators |
Normative value |
I half of 2010 |
|||
|
Independence coefficient |
K1 = 3 rubles. P / Balance |
||||
|
Financial stability ratio |
K2 = 3 rubles P + 4 rubles P. / Balance |
||||
|
Equity to debt capital ratio |
K3 = 4 rubles P + 5 rubles P / 3 rubles P |
||||
|
Coefficient of provision with own working capital |
K4 = 3p.P - 1p.A / 2p.A |
||||
|
The coefficient of maneuverability of own working capital |
K5 = 3 rubles P - 1 rubles A / 3 rubles P |
During the analyzed period, the coefficient of independence of JSC "Mordovspirt" distillery "Kovylkinsky" had an insignificant tendency to increase. At the beginning of 2008, the value of this indicator was 0.13, at the beginning of 2009-2010, 0.14. For a financially stable enterprise, the minimum level of this indicator should be 0.6. From an economic point of view, this means that all the company's liabilities cannot be covered by its own funds. The value of the indicator equal to 0.13 - 0.14 indicates that the company is financially unstable. From the point of view of creditors, the value of this indicator does not ensure that the enterprise is guaranteed its obligations. The activities of OJSC "Mordovspirt" distillery "Kovylkinsky" to a greater extent depends on external sources of funding. Financial soundness ratio - share net assets in the total assets of the company. The financial strength ratio shows the share of the company's assets financed by equity capital. The financial stability ratio in JSC "Mordovspirt" distillery "Kovylkinsky" in 2008 was 0.2, in 2009-early 2010 - 0.1, therefore, the share of the company's assets financed from equity capital is insignificant. The ratio of equity and borrowed funds. This ratio gives the most general assessment of financial stability. The growth of the indicator in dynamics testifies to the increased dependence of the enterprise on external investors and creditors, i.e. on the decline in financial stability. The more this ratio exceeds the standard, the greater the dependence of the enterprise on borrowed funds. In JSC "Mordovspirt" distillery "Kovylkinsky" in 2008, this figure was 4.3, therefore, 1 rub. own capital of the enterprise accounts for 4.3 rubles. borrowed money. In 2009 and in the first half of 2010 this indicator increased, which indicates that the company is extremely dependent on borrowed funds. The ratio of the provision of own circulating capital characterizes the availability of the organization's own circulating assets, which are necessary for its financial stability. This indicator in JSC "Mordovspirt" distillery "Kovylkinsky" is 0.03 in 2008, 0.001 in 2009-I half of 2010, therefore, the company practically does not have its own circulating assets, basically all circulating assets are formed at the expense of borrowed sources. The coefficient of maneuverability of own working capital shows how much of equity is used to finance current activities, i.e. invested in working capital, in the most maneuverable part of assets. In 2008, the value of the indicator was 0.1, in 2009 there is a decrease in this indicator, in the first half of 2010 its slight increase. Thus, only a small part of the company's equity capital is invested in circulating assets, which negatively affects the financial stability of OJSC Mordovspirt, the Kovylkinsky distillery. Solvency and liquidity are one of the most important indicators characterizing the financial position of an enterprise. The assessment of this indicator is carried out according to the balance sheet data based on the characteristics of current assets, i.e. the time it takes to convert them into cash. The most mobile part of working capital is cash and short-term securities... Let us consider the indicators of solvency and liquidity of JSC "Mordovspirt" distillery "Kovylkinsky". 1) The ratio of absolute (instant) liquidity reflects the company's ability to fulfill short-term obligations at the expense of free cash and short-term financial investments, which are quickly realized if necessary. This indicator is calculated as follows: To ab.l. = Cash. + Short-term financial investment / Short-term liabilities In JSC "Mordovspirt" distillery "Kovylkinsky" this indicator in 2008 was 0.00008, in 2009 - 0.0005, in the first half of 2010 - 0.00007, which is significantly lower than the standard (0.2-0.5) ... This ratio shows what part of short-term debt obligations can be repaid, if necessary, immediately. Consequently, the company can only be repaid not a significant part of short-term debt obligations. The value of the absolute liquidity ratio, which is at a level below the limit, indicates a difficult financial situation enterprises. 2) The quick liquidity ratio shows what part of the current debt the organization can cover in the short term, subject to the full repayment of the receivables. This indicator is calculated as: To B.L. = Turnover. act.- Inventories / Current liabilities In 2008, the value of this indicator was 0.7, in 2009 - the first half of 2010 - 0.8, the standard for this indicator is ≥ 1. Consequently, the company in the near future will not be able to fully repay its current debt. 3) Overall coefficient liquidity Gives a general assessment of the liquidity of assets, showing how many rubles of the company's current assets fall on one ruble of current liabilities. To obsh. L. = Non-current assets / Short-term. obligatory. Thus, in 2008 this indicator is 0.26, in 2009 - 0.16, in the first half of 2010 - 0.0017, the standard for this indicator is> 2. Consequently, there is a trend towards a sharp decrease in this indicator in 2009 and in the first half of 2010, compared to 2008, which negatively affects the financial position of the organization. Also, when assessing financial stability, it is necessary to consider the profitability ratios of OJSC "Mordovspirt" distillery "Kovylkinsky" (Table 4). Table 4 - Coefficients of profitability of JSC "Mordovspirt" distillery "Kovylkinsky" crisis management competitive advantage 1. Coefficient of profitability of the main activity. This indicator shows what amount of profit from sales falls on 1 ruble. cost of production: Genus = Profit from sales / Cost of fixed assets. activities * 100% 2. Ratio of return on sales. This indicator shows what amount of profit from sales falls on 1 ruble. proceeds from product sales: Rsales = Profit from sales / Proceeds from sales * 100% 3. Ratio of return on equity This indicator shows what amount of equity capital falls on 1 ruble. net profit: Rsk = Net profit / Avg. value of own. capital * 100% 4. The profitability ratio of non-current assets demonstrates the company's ability to provide a sufficient amount of profit in relation to the company's fixed assets: Moat = Net profit / Avg. value out-of-turn. asset * 100% Thus, having considered the main indicators of financial stability, profitability, solvency and liquidity, it can be concluded that JSC "Mordovspirt" distillery "Kovylkinsky" is in a difficult crisis situation, because all financial results are at a critical level and well below the limit normative value... Consequently, the activities of OJSC "Mordovspirt" distillery "Kovylkinsky" are characterized as unstable, the enterprise is on the verge of bankruptcy. 2.2 Analysis of the organization of financial management in JSC "Mordovspirt" branch-distillery "Kovylkinsky" Financial activity is an integral part of the functioning of any enterprise. Financial management is carried out by the financial services of the enterprise or financial management services, which are inextricably linked with the activities of the accounting department, since the accounting unit provides the financial management service with reliable and complete information of a financial and managerial nature. In this regard, the financial management service should either include accounting units in its structure, or very closely and reasonably interact with them, but there should be no isolation of these units and no autonomy in subordination in the organization. As for the analyzed enterprise, in JSC "Mordovspirt" distillery "Kovylkinsky" financial services, as such, are absent. But this does not mean that the enterprise does not manage financial activities, the functions of financial management are distributed among the existing structural divisions. So, for questions of financial diagnostics, financial planning and budgeting, as well as financial control at the enterprise, the economist and chief accountant of the enterprise are responsible for their lines of work, which is reflected in their job descriptions. Thus, the main tasks of the chief accountant in the management of financial activities of OJSC "Mordovspirt" distillery "Kovylkinsky" are as follows: 1) Organization of traffic control financial resources enterprises and regulation of financial relations in order to effective use of all types of resources in the process of production and sale of products and maximizing profits. 2) Determination of sources of financing for the production and economic activities of the enterprise (budget financing, short-term and long-term lending, attraction of borrowed funds and the use of own funds). 3) Coordination of work on the analysis of the financial and economic condition of the enterprise (analysis of financial statements, horizontal and vertical analysis, trend analysis, calculation of financial ratios). 4) Ensuring the development of the accounting policy of the enterprise (definition of: methods for writing off raw materials and materials into production; options for writing off low-value and wearing out items; methods for assessing construction in progress; the possibility of using accelerated depreciation; forms of planning new industries and sites, etc.). 5) Organization and provision of control: over execution financial plans(including the profit plan) and budgets in order to identify deviations from the planned values, develop measures to eliminate non-production costs and cost-increasing factors identified during the analysis, operational adjustments to the budget and plan; for the termination of production of products that have no sale; for the correct spending of funds and the targeted use of own and borrowed working capital, etc. Economist, within the framework of financial management of OJSC "Mordovspirt" distillery "Kovylkinsky" provides: Transfer of taxes and fees to federal, regional and local budgets, to state off-budget social funds, Timely receipt of income, registration of financial and settlement and banking operations in a timely manner, Payment of invoices of suppliers and contractors, repayment of loans, payment of interest, wages workers and employees, transfer of payments to banking institutions, etc. Other divisions, on the basis of the order of the general director of the enterprise, are obliged to assist the economist and the chief accountant in obtaining the information necessary for the management of financial activities in their areas. Table 3 shows the structure financial management JSC "Mordovspirt" distillery "Kovylkinsky" with an indication of the centers of responsibility and the main functions performed by them. Table 5 - The structure of the financial management system of JSC "Mordovspirt" distillery "Kovylkinsky" As you can see (see Table 5), the financial management system of an enterprise covers all the main areas of financial management. All processes are combined and closed directly to the general director and chief accountant. The chief accountant is directly involved in the issues of financial diagnostics and control. The issues of financial planning, forecasting and budgeting are decided by the chief accountant and economist of the enterprise, who are also entrusted with the function of regulatory and methodological support. The tasks of information support of financial management are solved by all structural divisions of the enterprise in their areas of activity. So in JSC "Mordovspirt" distillery "Kovylkinsky" the inspector of the personnel department controls the information on the state of the personnel of the enterprise. Personnel is an important, if not the main, element of financial management and the level of many financial indicators, such as labor productivity, payroll, labor quality and many others, depends on their condition. The head of the farm provides information on the availability of inventory items. The chief engineer informs about the functioning of the auxiliary systems. The head of the security service is responsible for providing information on the safety of the enterprise, etc. Thus, analyzing the above, we can conclude that the main functions and tasks of organizing financial management of OJSC "Mordovspirt" distillery "Kovylkinsky" are carried out by the chief accountant and economist of the enterprise, but at the same time other structural divisions headed by the general director provide their assistance in obtaining the necessary information to carry out this process. 3 Development of an anti-crisis strategy (on the example of JSC "Mordovspirt" branch-distillery "Kovylkinsky") 3.1 Measures to improve the efficiency of using the anti-crisis strategy in the financial activities of the enterprise In our opinion, in order to increase the efficiency of the use of the anti-crisis strategy in the financial activities of the enterprise, as well as for the exit of OJSC “Mordovspirt” distillery “Kovylkinsky” from the crisis, it is necessary to take the following measures: Restoration or replenishment of a team of specialists; Introduction to the staff of the marketing manager; Enterprise restructuring; Development of strategies to increase the assortment, improve production technology and enter a new frontier in the markets of the procurement and marketing industry. If the first two tasks are solved by several specialists, then the last task can be solved only by having a cohesive and Friendly team good specialists who can quickly and efficiently respond to all changes in the market and in production technology. V the given time more than half of the team either cannot or do not want to delve into the solution of new problems, which significantly reduces the speed of implementation of innovations. In addition, part of the team does not correspond to the required level in terms of their professional skills. To introduce such a practice, it is necessary, first of all, to involve specialists in this work, to convince them that it is vital for the further development and expansion of the enterprise, to show them that all possible improvements will entail an increase in salaries and an increase in their experience, and improving working conditions, etc. All this can be achieved by holding several seminars, where you can additionally find out the opinion of experts on this issue, listen to suggestions and comments that can later help the leader. Such training can be carried out every six months if joint-stock company will develop at the pace that is planned. In addition to increasing professional skills, it is necessary to pay increased attention to improving production discipline and staff motivation. In particular, it is necessary to conduct safety briefings more often, since recently minor work injuries, the personnel began to use less protective equipment. The question arises about the motivation of personnel. In this situation, the following will be most useful: Increase attention to everyone specific employee, show him that the company needs him, that his work is in demand; To notice all the achievements of employees and try to encourage them so that in the future employees try to be creative in their work and are not afraid to express their opinions on production issues; such activity among the staff can have a very positive effect on the development of the enterprise; More often hold a team meeting in order to clarify any claims, suggestions, as well as explain to the team the company's policy, its near and long-term strategic goals, which will help bring the staff closer to the management of the joint-stock company; Celebrate holidays and memorable dates with the whole team, present gifts to birthday people, even if it is a pure formality, since it is a pleasure for any employee if the company remembers him. All of the above will help to unite the team, increase efficiency and responsibility, reveal talents, which is very important in the development of an enterprise. In the conditions of the onset of the crisis, mechanisms are needed, measures aimed at finding ways out of it, reaching the “break-even point”, and gradually increasing the level of profitability. Obviously, this will require funds to cover the inevitable losses. Consequently, it is necessary to implement tactical and strategic measures. Tactical (operational) measures can be defensive (cutting costs, closing ineffective divisions, reducing personnel, production, etc.) and offensive (marketing research, high prices for products, modernization of management, etc.). Operational measures are inherent in "reactive anti-crisis management", which is aimed at planning and implementing measures aimed at restoring the pre-crisis state. Features of anti-crisis procedures are: In goal setting. For an enterprise in a crisis situation, the maximum profit (profitability) ceases to be an objective function. The goal may be to preserve the enterprise, personnel, and minimize losses. In the use of the production apparatus. In the context of a decline in production, as a rule, which occurs during a crisis, priority is given to its accelerated loading as the first condition for reducing the specific conditionally fixed costs. If this is impossible (for example, there is no demand for the company's products), then one should follow the path of its "compression" (mothballing a part of production capacity, leasing a part of fixed assets). It becomes extremely important to increase the efficiency of making and implementing managerial decisions, even if this is associated with a decrease in their efficiency (reduction in the duration of the production cycle, reduction in operational calendar standards, reduction in the number of ineffective business processes). Changing the incentive system for personnel. At any cost, it is necessary to retain that part of the personnel that has a decisive influence on the quality of products, the competitiveness of production (even by reducing a less significant part of the personnel, increasing the company's losses). The main activity in which OJSC "Mordovspirt" specializes is the production of ethyl alcohols. The company also produces dry feed yeast and carbon dioxide. In times of crisis, an enterprise can increase the output of these products, but new sales markets are necessary for their implementation, which is why it is advisable to introduce the position of a marketing manager at OJSC Mordovspirt. The main functions of a marketing manager will be as follows: Search for new markets for products; Studying the opinion of consumers about the products; Preparation of proposals to improve the competitiveness and quality of products; Development of proposals in the field of pricing policy, etc. Also, within the framework of the anti-crisis strategy at JSC "Mordovspirt" distillery "Kovylkinsky", it is advisable to carry out the procedure of restructuring the enterprise. Restructuring is a restructuring of all areas of the enterprise in order to ensure the efficient distribution and use of all available resources - material, labor, financial, intellectual. In other words, "restructuring" means updating the structure and in this case it means a whole range of measures aimed at changing the composition of the owners, the capital structure of the enterprise, as well as its organizational and management structure. The restructuring is aimed at solving the following problems: Elimination of non-liquidity of the enterprise; Improving the capital structure; Attraction of borrowed funds for the development of the enterprise; Reducing production costs; Improving the motivation system; Attraction of investments At the same time, one should take into account the fact that restructuring requires significant costs, affects the interests of almost all employees who should be interested in its implementation, since it is accompanied by the emergence of new skills, types of activities, new divisions, changes in management. 3.2 Improving the organizational mechanism of anti-crisis management of financial activities of the enterprise In order to improve the organizational mechanism of anti-crisis management of financial activities of OJSC "Mordovspirt" distillery "Kovylkinsky", in our opinion, it is necessary to carry out the following transformations: Analyzing the organization of financial management of JSC "Mordovspirt" distillery "Kovylkinsky", we came to the conclusion that the main functions and tasks in this area are carried out by the chief accountant and economist of the enterprise. In our opinion, the organization of financial management requires higher quality collateral, as the company is in a difficult financial position. That is why it is advisable to introduce the position of a financial manager in Mordovspirt JSC at the Kovylkinsky distillery. The main activities of which will be the following: 1) financial forecasting, which is the basis of financial planning; 2) analysis of various aspects of the financial activity of the enterprise and the environmental factors affecting it; 3) development financial strategy enterprise and planning the financial activities of the enterprise in its main areas: operational, financial, investment activities; 4) organization financial work at the enterprise through the creation of an effective financial management system; 5) control over the implementation of financial decisions, etc. Thus, the financial management of OJSC Mordovspirt distillery Kovylkinsky will be carried out by a financial manager, and not by a chief accountant and economist, as it was before, which will facilitate the solution of all financial management issues at this enterprise. 2) Introduce organizational modeling methodology. Organizational Modeling (Business Modeling)- this is a fairly new area of activity aimed at building holistic organizational models containing a comprehensive view of the purpose, internal structure and logic of the activities of organizations (companies, enterprises, businesses). Organizational modeling is designed to simplify the task of managing an organization and create the necessary conditions, both for its successful functioning, and for carrying out any internal organizational changes. The introduction of organizational modeling at JSC "Mordovspirt" distillery "Kovylkinsky" will contribute to: 1) Assigning specific anti-crisis functions to each unit; 2) Description of the organizational structure “as it is and as it should”; 3) Development (optimization) of the organizational structure of the enterprise. Thus, the implementation of these transformations will improve the organizational mechanism of anti-crisis management of financial activities of OJSC "Mordovspirt" distillery "Kovylkinsky" and will contribute to the gradual recovery of the enterprise from the crisis. Conclusion In accordance with the relevance of the identified problem to achieve the goal of this work: the development of measures to improve the efficiency of the use of the anti-crisis strategy in the financial activities of the enterprise, the following tasks were solved: Theoretical approaches to the problem of anti-crisis management have been substantiated; Revealed modern forms, methods and principles of anti-crisis management; Analyzed the activities of JSC "Mordovspirt" distillery "Kovylkinsky"; Based on the above, the following conclusions were made: Crisis management is an integral part modern business in Russia, and it is very important that every leader is theoretically and practically prepared for crisis situations. Having considered the main indicators of financial stability, profitability, solvency and liquidity at JSC "Mordovspirt" distillery "Kovylkinsky", we concluded that the company is in a difficult crisis situation, since all financial results are at a critical level and well below the regulatory limit. Analyzing the organization of financial management of JSC "Mordovspirt" distillery "Kovylkinsky", we found out that the main functions and tasks in this area are carried out by the chief accountant and economist of the enterprise. On the this stage development, in our opinion, for JSC "Mordovspirt" distillery "Kovylkinsky" the main measures for overcoming the crisis are: |
Introduction.
The entry of the Russian economy into market relations, the opening of the domestic market for the goods of foreign enterprises put the majority of Russian organizations in a difficult financial and economic situation. The result was an increase in insolvency and the subsequent bankruptcy of organizations.
It should be noted that there was not a single organization in the world that, in one way or another, in its production and economic activities, did not experience crisis phenomena, economic and financial problems, often leading to bankruptcy. In connection with the transition of the Russian economy to market relations, the management of the organization, state and municipal authorities are faced with the task of preventing crisis phenomena and ensuring a stable position of the organization, since the bankruptcy of some organizations often causes a deterioration in the financial condition (solvency) of many others, giving rise to the so-called domino effect.
The solution of problems of preventing crisis phenomena or mitigating their impact on the results of organizations' activities is possible with the help of a system of measures "anti-crisis management". Organizations of any form of ownership (state (municipal), joint-stock, private, etc.), type of activity and size are susceptible to crisis phenomena. In this regard, the problem of managing organizations in such conditions is very urgent for Russia.
A great contribution to the study of anti-crisis management problems was made by domestic economists: Yu. Osipov, S. Belyaev, V. Koshkin, S. Andreev, G. Ivanov, V. Panagushina, E. Minaev, E. Korotkov, A. Gryaznova, L. Blyakhman , E. Utkin and many others. Among foreign scientists, to one degree or another, dealing with the problem of anti-crisis management of an enterprise, one can single out - T. Poshan, E. Moran, I. Ansoff and others.
But at present there are very few works devoted to organizing the management process of enterprises in crisis. Some works focus on the crisis as such, its definition, types, reasons, others - mainly deal with the problems of anti-crisis management descriptively, without clear algorithms and calculations. Very little attention in these works is paid to anti-crisis management from the point of view of a systems approach.
The main goal of anti-crisis management of an organization should be to ensure for a long period of its competitive advantage (or equilibrium in the market), which will allow, through the sale of products, to receive enough money to pay all obligations, maintain reliable financial stability and further development of production. In this regard, the issues of managing an organization in a crisis are relevant at the present stage.
Therefore, there was both a scientific and a practical need to write this work on the theory and practice of anti-crisis management in modern economic conditions.
Anti-crisis management should be based on management on the basis of constant monitoring of the organization's activities in order to timely diagnose the reasons for the deterioration of the financial condition and determine ways to restore it, ensure the existing profitability and activities, as well as the economic growth and development of the organization.
The following questions are very important in solving management problems:
In what periods of development of the organization can a crisis arise and develop;
How much the danger of a crisis is associated with a risky change in the organization itself and how it can be related to the development of the economic environment in which the organization under consideration operates.
The mechanism of anti-crisis management can be effective only when it is based on the objective laws of building the organization's production process. These patterns are manifested in the interaction with the external environment of the enterprise, as well as in the systemic properties of the organization, which is a production, economic and social system.
Overcoming crises is a controlled process. This is evidenced by many crises that took place in the history of human development, production and economy.
An important role is played by the study of the external environment of the enterprise: economic, market, technical and technological, organizational, competitive, social, political and international factors and the identification of threats from these factors of the production and economic activities of the enterprise. Analysis of the external environment allows you to identify not only threats, but also opportunities, realizing which the company will be able to increase its competitive status.
The factors of the internal environment of the organization include: operational (production and management); financial (the result of irrational financial policy); investment related to ineffective investment policy of the organization and others.
It should be borne in mind that the characteristics of the external and internal environment of the enterprise in the conditions of modern production and social development of workers of all categories are extremely mobile.
The world experience of countries with developed market economies shows that the crisis state in the activities of an enterprise is 25-30% associated with external factors (macroeconomic and general political nature) and 70-75% with internal (determined by the characteristics of production and economic activities). In Russia, external and internal factors are about 50% each.
Crisis management of the enterprise includes the management of marketing, finance, production, personnel and information.
Relevance This work is determined by the need for a scientifically grounded solution of the problems of formation and development of the organizational mechanism of anti-crisis management of the enterprise.
The purpose This work is the development and practical application of recommendations for the formation and improvement of the organizational mechanism of anti-crisis management of the organization TPK "Golden Compound" LLC.
In accordance with this goal, a number of tasks were set and solved:
the concept of anti-crisis management of an enterprise is given and a comparative characteristic of the difference between anti-crisis management and management in normal conditions is carried out;
disclosed the principles of the anti-crisis management process;
identified and theoretically investigated the main groups of factors that affect the financial and economic activities of the enterprise;
the role of the state in the regulation of anti-crisis management has been determined;
methods for diagnosing the financial condition of an enterprise are disclosed;
disclosed the principles of the system of mechanisms and measures for financial stabilization and investigated the models for restoring the company's solvency;
the role of restructuring as an organizational mechanism for anti-crisis management of an enterprise has been determined;
disclosed the main approaches to the construction and application of the plan for the financial recovery of the enterprise;
analyzed the main indicators of the company's solvency.
Research object acts as an enterprise management aimed at ensuring financial stabilization and restoring solvency, as well as restructuring models, the experience of operating enterprises in Russia on the example of TPK Zolotoe Podvorie LLC.
The subject of research is system of methods and models of anti-crisis management of the enterprise LLC TPK "Golden Compound".
Work structure defined by the goals and objectives of the work. The first chapter "Review of anti-crisis management tools" examines the existing methods and mechanisms for financial stabilization, anti-crisis management tools, as well as analyzes the models for restoring solvency and the methodology for drawing up a financial recovery plan.
The second chapter presents the practice of anti-crisis management at the enterprise TPK Zolotoe Podvorie LLC.
Chapter 1. Review of tools for anti-crisis management of organizations.
The role of anti-crisis management and restructuring in modern conditions.
Recently, concepts such as anti-crisis management and bankruptcy have become quite often identified. And yet they are quite different. For example, anti-crisis management, in addition to bankruptcy, includes issues of financial analysis and forecasting, complex restructuring of an enterprise, clearing the business of the burden of debt obligations and effectively integrating it into functioning production and technological cycles, setting up management, financial accounting, marketing, etc. (as one of the forms of anti-crisis management) is a powerful legal instrument, because it solves problems and regulates relations between business entities: shareholders, business owners, debtors, creditors, the state 1.
In the fight against the threat of bankruptcy and recovery from the crisis, the company must rely solely on internal financial capabilities.
The above principles are the basis for organizing anti-crisis management of an enterprise, therefore, an anti-crisis program of an enterprise or an anti-crisis management plan is an action plan aimed at increasing the efficiency of a business and implementing a strategy for its development in a difficult competitive and / or financial situation, including aimed at preventing bankruptcy of an enterprise ... The most important goal of the anti-crisis program is the sustainability of the enterprise, which is manifested not only in achieving the required indicators of solvency and profitability, but also in maintaining their level, preventing a repeated crisis.
Objectives of the anti-crisis program:
Elimination of insolvency;
Restoring financial stability;
Ensuring financial balance in the long run.
Customer retention through improved product quality and lower prices based on increased production efficiency;
Attracting new customers through the creation of new products for the end consumer;
Restructuring the enterprise in order to increase its efficiency to counter the impact of the crisis.
When developing and implementing anti-crisis programs, it is important to pay
attention to increasing their efficiency, that is, better use of the allocated resources. The criterion of efficiency is the ratio of the increment in the enterprise's net income obtained through the investment of the program to the volume of investment. The return on investment can also serve as an indicator of efficiency.
Since the scientific and practical development of anti-crisis programs of companies is not enough, one has to focus on the general provisions of the methodology of program-targeted management, the methodology for the formation of targeted federal programs, as well as the experience of enterprise restructuring. At the same time, when determining the structure of the program, the activities included in it, indicators, resource sources and methods of managing its development and implementation, it is necessary to keep in mind the specifics of the industry.
The formation of the anti-crisis program should be preceded by a thorough analysis of the financial and economic activities of the enterprise, its assets and liabilities, accounts receivable and payable, provision of own funds, existing and possible orders, demand and prices for products and services. This allows you to identify the causes of the crisis, outline ways to overcome it.
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