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Economic Analysis: Theory and Practice
 

Crisis management to financially stabilize a company

Vol. 8, Iss. 10, APRIL 2009

Available online: 18 September 2009

Subject Heading: Crisis management

JEL Classification: 

Chaldaeva L.A. doctor of economic sciences, professor, The Finance State University under the government of Russian Federation
chaldaeva45@mail.ru

Since 1992 the law has guaranteed the right of bankruptcy to exist as an attribute of market relations. This natural phenomenon has definite features and peculiarities. Notwithstanding its objectivity bankruptcy lends itself to control as part of crisis management and business management, which imply timely revelation of negative tendencies and prevention measures to overcome or reduce them based on bankruptcy diagnostics.
     Russian research authors agree as to bankruptcy diagnostics interpretation. It can be best defined as a complex of methods meant to detect problems and weak points in the management system, which are the reasons for financial insecurity and other negative operating rates. Diagnostics can be treated as performance appraisal in terms of cumulative managerial effect, as well as ascertainment of divergence of system parameters, and as performance evaluation in a changing environment in order to prevent from crises.

Keywords: crisis, management, bankruptcy, regulation, activity, prevention, measures, diagnostics, effect, parameter, system

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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