Crisis Management as a Counteraction to Bankruptcy: The Experience of Ukrainian Microcrediting Enterprises

Анотація

The proposed scientific article is devoted to the topical issue of the need for crisis management in the microcrediting market. The article considers the crisis (resulting from the full-scale invasion) as a factor influencing the smooth functioning of the company. The importance and relevance of crisis management of the company in conditions of uncertainty during the wartime is emphasized. Analyzing and summarizing scientific works of domestic and foreign scholars, it was proposed to study crisis management through the prism of the stages of crisis development, i. e.: crisis prevention, crisis management, overcoming the consequences of the crisis. Each of the stages requires a number of necessary measures that should be applied by the company for effective crisis management. Among the main ones of these measures are: early diagnosis of the crisis; rapid response to crises; implementation of preventive measures; creation of an anti-crisis program; implementation of post-crisis strategies. The article analyzes crisis management during the wartime on the example of a representative of the microcrediting market – LLC «MoneyVEO Quick Financial Assistance». The major anti-crisis measures of the company include: improvement of IT infrastructure; setting up automated and well-coordinated work of top management; attraction of external financial resources; compliance with legal requirements; cost reduction; improvement of the system for assessing the creditworthiness of counter-parties. An analysis of the main financial indicators of the company was carried out, on the basis of which a conclusion was made about the effectiveness of crisis management during the wartime. The probability of bankruptcy remains high, but there are opportunities to bypass it and bring the company out of the crisis. Prospects for further research in this direction are the need to apply preventive crisis management instruments and improve the mechanism of strategic crisis management.

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