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Strategic Directions and Tactical Approaches to the Strengthening of Financial Security of Business Entities in the Field of Agriculture

Author

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  • Olha Chernenko

    ('Institute of Agrarian Economics' National Scientific Centre, Kyiv, Ukraine)

Abstract

Search of capabilities to neutralize the negative impact of external and internal environment factors on the financial state of agricultural goods producers attracted the attention of researchers to the strategic tools of enterprise financial security management. The object of the article is the justification of strategic directions and the development of tactical approaches to the strengthening of financial security of business entities in the field of agriculture. Directions of the strengthening strategy of financial security in the field of agriculture are disclosed and the list of indicators of each direction is provided, in view on which directions the methodological tool of financial security assurance should be developed. It was proposed to form the Financial Security Service at the level of each enterprise that will become a center of balanced management decisions. The attention in drawn to the problem of low level of agricultural enterprises' capitalization, that limits the possibility of their innovative development. The implementation of the proposed strategic directions and tactical approaches will strengthen the financial security of business entities in the agricultural sector of the economy.

Suggested Citation

  • Olha Chernenko, 2016. "Strategic Directions and Tactical Approaches to the Strengthening of Financial Security of Business Entities in the Field of Agriculture," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 109-113, September.
  • Handle: RePEc:iaf:journl:y:2016:i:3:p:109-113
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    More about this item

    Keywords

    financial security; competitiveness; investment attractiveness; profitability; capitalization;
    All these keywords.

    JEL classification:

    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance

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