Avdoshina Z.A. Senior Lecturer, Department of Sociology, Political Science and Management, Kazan State Technical University, Associate Professor, Department of Management, Russian International Academy of Tourism (Kazan Branch)
Management of systems in a state of disequilibrium and imbalance requires managers to master the practical skills of anticipating and recognizing crises, eliminating negative consequences emerging negative factors. Anti-crisis management includes a set of methods used in various functional subsystems of management. Social technologies, methods of economic analysis, forecasting, development of complex investment projects and anti-crisis programs, restructuring and reorganization plans are used in combination to prevent and overcome crises in a timely manner.
Anti-crisis management includes a body of knowledge and the results of the analysis of practical experience, which are aimed at optimizing the mechanisms of regulation of systems, identifying hidden resources, development potential at a difficult stage of development. The specificity of anti-crisis management is associated with the need to make complex management decisions in conditions of limited financial resources, a high degree of uncertainty and risk. A manager who solves such problems is faced with the need to act in a timely manner and quickly, and the level of his responsibility is growing.
1. Crises in the development of socio-economic systems
1.1. General concepts and typology of crises
The existence of socio-economic systems is a cyclical process, which is characterized by the regularity of the onset and resolution of crises. The socio-economic system, by which we can understand civil society, an economic entity (enterprise), an integrated business structure, has two main trends in existence: functioning and development. Functioning is the maintenance of life, the preservation of functions that determine the integrity of the system and its essential characteristics. Development is the acquisition of a new quality necessary for progressive changes, adaptation to new environmental conditions, which characterizes changes in objects, means of labor and in the person himself. The use of new synthetic materials, the development of microelectronics, robotics, information and biotechnology, the use of electronic technology in combination with machine tools and robots, all this is a source of a significant increase in labor productivity and the quality of manufactured material goods. However, on the other hand, updating the technological basis of social reproduction is one of the reasons that provoke cyclicity, and, consequently, crisis phenomena in the functioning of the system. The economy is never at rest. Prosperity is not infrequently replaced by collapse, national income, employment rates, output growth rates, as well as prices and profits fall. In the end, the bottom point is reached, and the revival begins again. At a higher turn of the unwinding spiral of history, more progressive than the previous stage, crises proceed with varying degrees of severity and their possible manifestations.
A crisis- this is an extreme aggravation of contradictions in the socio-economic system (organization), threatening its viability in the environment. The crisis can also be understood as a stage in the development of the socio-economic system, necessary to eliminate stresses and imbalances in it. A situation may arise in which the mechanisms associated with the existing system of regulation are unable to change unfavorable market processes, when the contradictions that develop in the depths of important institutional forms that determine the mode of accumulation of material wealth become aggravated. In the course of a crisis, the most important regularities on which the organization of production, the prospects for the profitable use of capital, the distribution of value, and the structure of social demand are based, turn out to be unviable.
Crises can be identified by factors of their manifestation- the most significant indicators, parameters of the functioning of the system, indicating the presence of imbalance, sharp contradictions in it. In contrast to the factor symptom of a crisis- this is the initial sign of an impending problem, an indicator of the most vulnerable parties in the functioning of the system.
Typology of crises includes separate groups of economic, social, organizational, psychological, demographic, environmental, distributed in this way, according to the structure of relations in the socio-economic system, according to the problems of its development. Moreover, different types of crises can be represented as a chain in which the break of one link, i.e. the appearance of a factor of one of the types of crisis, entails the emergence of factors of other types.
Economic crises reflect acute contradictions in the country's economy or the economic condition of an individual organization. These are crises of overproduction, falling sales, contradictions in the relationship of economic agents of the market, crises of non-payments, loss of competitive advantages and ruin of enterprises.
The main factors of the economic crisis are a reduction in the total volume of industrial production, production capacity, rising inflation, hyperinflation, a decrease in GDP, foreign trade turnover, a fall in securities prices, a collapse in agriculture, a decrease in the innovative activity of enterprises, and an increase in the number of company bankruptcies.
Political crises characterized by sharp contradictions in the political structure of society, affecting the interests of various social groups, ruling elites, opposition parties. The factors of political crises are: a sharp decrease in the legitimacy of power, its depreciation in the eyes of citizens, the lack of the ability of the authorities to manage the processes taking place in society, a change in the ruling elite, the resignation of the government, "ministerial leapfrog", a sharp aggravation of social conflicts, acquiring a pronounced political character. An acute political crisis can proceed as: constitutional and legal, associated with the termination or restriction of the country's fundamental law; the crisis of the party system, caused by a split in the parties, the leading social forces; government crisis associated with the limitation or impossibility of state-administrative influence; foreign policy crisis caused by the growth of external threats, wars, the fall of the international prestige of the country.
Social crises arise when the contradictions and clash of interests of various social groups are exacerbated and are often a continuation of economic crises, because the latter are accompanied by such negative social manifestations as a drop in employment, rising prices for consumer goods, a decrease in the standard of living of citizens, and a reduction in state appropriations for education and health care. The main factors of social crises are: a significant decrease in the quality of life of citizens, unemployment, poverty, an increase in the number of serious diseases, a worsening crime situation, brain drain, corruption in society, a complete destruction of the value system, including spiritual ones. A kind of social crisis is a demographic crisis, the negative manifestations of which are the excess of death rates over birth rates, negative migration processes that cause an outflow of qualified specialists, a shortage of productive personnel in the economy, and adverse changes in the sex and age structure of the population.
Social and demographic crises are most directly linked to psychological crises, which are most pronounced during periods big changes in society, in conditions of instability and falling living standards of people. Factors of a psychological crisis: this is the emergence of neuroses that are becoming widespread, the growth of citizens' dissatisfaction with their social status, emotional emptiness in people, fatigue from change, exacerbation of feelings of insecurity, fear, a massive increase in the number of cardiovascular and other diseases due to increasing stress, deterioration in social -psychological climate in society (in the enterprise team). In business, the psychological crisis manifests itself as a lack of desire among entrepreneurs to invest in business, production, disbelief in the improvement of the situation, the desire to withdraw capital from the country.
In the organizational structure of the socio-economic system, relations associated with the structural construction, division and integration of activities, distribution of functions, regulation of the activities of divisions, administrative units, regions, branches, subsidiaries, representative offices can be aggravated. Arise organizational crises. Their main factors are: stagnation and bureaucratization of structures, increased conflicts between departments, managers of different levels of management, confusion, irresponsibility, chaos and loss of control over a number of structural units. As well as the outflow of resources and serious problems in the financial and economic activities of the organization due to the intentional or erroneous actions of some administrators, the imbalance of the overall management system, the decrease in the level of coordination and integration of the activities of different services.
Environmental crises caused by natural, natural phenomena such as: earthquakes, hurricanes, fires, climate change, floods, and often they are the results of human activity.
Crises can be obvious and easily detected, or they can be subtle and go in a hidden form. The most dangerous crises affect the system as a whole. In such a situation, a string of complex problems is formed, the solution of which depends on the timeliness of their identification and professionalism in managing the organization, municipality, state.
Causes of the crisis can be: objective - associated with the cyclical development of the system, the needs of modernization, restructuring, the impact of external factors, and subjective reflecting the mistakes of managers in management, shortcomings in the organization of production, imperfection of innovation and investment policy.
Consequences of the crisis represent possible states of the system, situations and problems that are characterized by: abrupt changes or gradual transformation, renewal of the organization or its destruction, recovery or the emergence of a new crisis. The consequences of the crisis are determined by its nature, type, level of manifestation of negative cyclical factors, the choice of anti-crisis management methods, which can smooth out negative trends, help overcome adverse factors, or, on the contrary, provoke a new crisis.
Crisis management is a set of methods and techniques that allow you to recognize crises, carry out their prevention, overcome their negative consequences, and smooth out the course of the crisis.
Crisis management technology includes a number of successive steps to implement the mechanism of influencing the system in order to prevent, mitigate and overcome crises different types. It is important for a crisis management manager to have a systematic vision, to be able to fully embrace a number of interrelated problems that, for example, can lead an organization to bankruptcy, or drastically worsen the social situation of people. Methods of anti-crisis management at the level state regulation include: development of normative, legislative acts, determination of directed financial and social policy, promoting small businesses, innovative activity of enterprises and the country's competitiveness in the world market. At the level of organization management, crisis management is the development of strategies that allow achieving competitive advantages in the market, taking into account risks; formation of an anti-crisis team of managers and implementation of a program to overcome the crisis; carrying out activities aimed at attracting financial resources to the organization and restructuring accounts payable; timely resolution of conflicts and selection of the optimal personnel policy, reorganization at a difficult stage of bankruptcy.
Professor A.G. Gryaznova in the book "Anti-crisis management" characterizes anti-crisis management as an enterprise management system that has a complex, systemic character. It is aimed at preventing or eliminating adverse events for business through the use of the full potential of modern management, the development and implementation of a special program at the enterprise, which is of a strategic nature, allowing to eliminate temporary difficulties, maintain and increase market positions under any circumstances, relying mainly on its own resources.
1.2. Cycles of social reproduction and their role in the occurrence of economic crises
In the development of socio-economic systems, a significant role is played by the chosen method of production, management, methods of creating material wealth and distributing resources. That is why it is so important to study economic crises that affect almost all spheres of society. The collapse of securities on the stock exchange, the ruin of companies, inflation, the fall in the standard of living of the population, open clashes between classes or social groups, conflicts of opposition political forces, the growth of organized crime - these are the factors of one interconnected process, the course of which is often provoked by the economic crisis. Its causes, which seemed to be clear to everyone, are often hidden "pitfalls", the appearance of which is due to the cyclical development of the socio-economic system.
Classic cycle of social reproduction includes four main stages: crisis, depression, revival, recovery. In Western economic theories, the concepts of "expansion" (expansion) and "compression" are often used. The expansion phase is replaced by a contraction phase at the so-called "upper turning point", or "top". In the same way, the contraction phase ends and opens the way for expansion at the "bottom turning point" or "revitalization" point. Thus, there is a successive change of the four phases of the cycle: contraction, revival, expansion, expansion apex (see Fig. 1).
The first phase is a crisis, which can also be characterized as a contraction. There is a reduction in the total volume of industrial production, business activity, the processes of falling prices, overstocking, there is a significant increase in the number of bankruptcies, unemployment, as well as a decrease in real incomes of the population, contraction of bank credit, and a decrease in foreign trade turnover. Particularly hard hit are industries supplying capital goods to the market, whose consumers can stop buying indefinitely. There is a significant reduction in production capacities in the branches of mechanical engineering, metallurgy, instrument making, and electronics. In industries supplying items daily demand, there may not be a significant reduction in production.
The second phase of the social reproduction cycle is depression. It represents a phase of stagnation in the economy, the adaptation of economic life to new conditions and needs. It is characterized by the uncertain actions of entrepreneurs who do not want to invest significant resources in the business. Capital is flowing abroad. In Western economic science, this phase corresponds to a revival associated with the stabilization of prices and economic conditions. Indicators, as it were, reach the bottom of the decline and begin to slowly rise. The situation is stabilizing, preparing for expansion, the growth of indicators of social economic development.
Fig.1. Cyclic development of the socio-economic system
The third phase - recovery, it is characterized by: the growth of capital investment, prices, production volumes, employment levels, interest rates. The expansion covers industries that supply the means of production. New enterprises are being created, a mass of new products is emerging, prices of securities, interest rates, prices and wages are rising. Economic growth is approaching the highest point of development, accompanied by the intensification of scientific and technical research.
The fourth phase - the rise, or the "peak of expansion" is characterized by a significant increase in all indicators of socio-economic development: GDP, trade turnover, innovative activity of enterprises, the level of technological equipment of the country, competitive advantages of companies in the world market, banking margins, etc. The highest point of prosperity is coming , which again entails compression. The tension in bank balance sheets is growing, commodity stocks are increasing, and aggregate effective demand is gradually declining.
The decline in production begins again, there is a reduction in employment and incomes of the population. The upsurge, which brings the economy to a new level in its progressive development, prepares the basis for a new, periodic crisis. The factors that cause the initial reduction in aggregate demand can be very different: the replacement of worn-out equipment, a decrease in the purchase of raw materials, materials, a drop in demand for certain types of products, an increase in taxes and credit interest, a violation of the law of money circulation, wars, various political events, unforeseen situations. All this can break the existing market equilibrium and give impetus to another economic crisis.
Why does a crisis occur? It is known that there is a gap between the production and consumption of goods. Not without reason the first crisis occurred in England in 1825, where by that time capitalism had become the dominant social system. The volume of factory production increased, but the solvent demand of workers and peasants was extremely low. The modern economy is monetary. There are a number of additional factors that can provoke cyclicity. A striking example- the default of 1998, when the crisis was the result of a policy of debt borrowing, and the signal for its beginning was the fall in the rates of government securities placed on world markets.
Basic theories of economic crises
Theories explaining cyclicity can be reduced to two large groups: external (external) and internal (internal) theories.
External theories explain the cycle by the influence of external factors: wars, important political events, discoveries of new deposits, the demographic situation, scientific and technical discoveries, innovations, and even bursts of solar activity.
Internal theories pay attention to the mechanism within the economic system itself, which gives impetus to a self-reproducing business cycle. Expansion, reaching the highest point of flowering, gives rise to contraction, and contraction, reaching the lowest limit, leads to rebirth and activity. For example, if a sharp jump in economic growth has begun, then within a short period of time, great amount new capital goods. A few years later, these goods, for example, machines, machine tools, equipment, will be worn out. They will begin to be replaced, and this will give an impetus to inflation, etc.
Most modern economists stand on the positions of synthesizing external and internal theories. In explaining the longest cycles, they give decisive importance to the fluctuations in investment and production of capital goods. The initial cause of unstable and changeable fluctuations in the cycle are external factors, such as: technical innovations, demographic situation, political upheavals, etc. However, the frequency and regularity of cycles depend on internal factors, such as total net investment, output growth rate, employment . Let's say inventions and scientific discoveries do not directly affect the cycle, but their economic use does affect the level of business activity.
Consider a number of economic theories that explain the causes of economic cycles and crises, while setting different priorities.
The point of view of K. Marx is known, who saw the main reason for cyclicity in contradictions between the social nature of production and the private nature of the appropriation of its results, because in a capitalist economy, material goods are produced by the majority of society, and consumed by a minority.
An alternative to this point of view is theory of underconsumption(Joan Robinson, Hobson, Foster, Catchings), which explains the cyclicity by the lack of consumption. Underconsumption causes overproduction of goods and provokes a crisis. The main way to prevent crises is to stimulate consumption.
Supporters theories of overinvestment On the contrary, it is believed that the cause of the cycle is rather excessive than insufficient investment (Hayek, Mises, etc.). The influx of investments accelerates expansion, causing disproportions in the system of the financial and economic mechanism of the system.
Existing theories of disproportionality, or "disequilibrium"(F. von Hayek) explain the crises by the lack of correct proportions between industries, spontaneous actions of entrepreneurs, state intervention in market relations. The "Political Business Cycle" Theory is based on the fact that there is an inverse relationship between the unemployment rate and the inflation rate, which is determined by the Phillips curve, i.e., unemployment decreases and prices rise. The ruling party is trying to vary the inflation rate and the unemployment rate by lowering them in order to win in the upcoming elections. After coming to power, the administration tries to reduce the rate of price growth by artificially provoking crisis phenomena, and by the end of its rule, the authorities begin to solve the opposite problem - to raise the level of employment. The latter causes prices to rise, but the calculation is made on the fact that by the elections the level of employment will rise, and inflation will not have time to gain full strength.
The relationship between market institutions, the state, the mode of accumulation of goods, the internal mechanism for regulating these complex processes and crises is analyzed in theories of regulation(M. Aglietta, R. Boyer, A. Bertrand, A. Lipets). Supporters of this scientific direction consider both the internal mechanism of management and external factors: wars, clashes between social groups, existing social forms of functioning of the system. Psychological theories explain the cycle by changing the mood of the masses, influencing investment. Thus, the panic and confusion of the crisis state lead to the stagnation of capital investments, the withdrawal of capital abroad, and positive attitude during the recovery stimulates the growth of investment.
A significant place among the factors influencing the cyclicity belongs to the trends in the development of scientific and technological progress. Theories of innovation explain the cycle by using important innovations in production (Schumpeter, Hansen, Kondratiev). The active part of fixed capital becomes morally obsolete within 10-12 years. This requires its renewal, and further stimulates economic recovery. Economists emphasize the importance of capital formation as the initial phenomenon of the cycle. In a cycle, some economic variables always fluctuate more than others. For example, cycle fluctuations in the food industry may be barely noticeable when a decline in the production of steel, iron, machinery or tractors is obvious. The industries producing durable goods or capital goods show the greatest cyclical fluctuations.
The well-known Russian economist N. D. Kondratiev (1892-1938) considered the cause of long cycles to be radical changes in the technological base of social production, its structural restructuring. Kondratiev made analytical comparisons of the series economic indicators characterizing the dynamics of the world capitalist economy. Research led him to develop concept of "long waves" capitalist reproduction. Summarizing the huge statistical material, Kondratiev proved that along with the well-known small cycles of capitalist reproduction lasting 8-10 years, there are large reproduction cycles - 48-55 years. In them, Kondratiev singled out two phases, or two waves - upward and downward.
The Austrian economist I. Schumpeter, studying business cycles, substantiated the concept that the main driving force behind the long-term fluctuations of the capitalist economy are construction cycles, which have an average duration of 17-18 years. Simon Kuznets and Raymond Goldsmith identified 20-year construction (reproduction) cycles driven by shifts in the reproductive structure of production. Along with the reproduction and construction cycles, small cycles are distinguished, explained by the interaction of various monetary factors, the dynamics of fluctuations in the value of stocks of inventory items at enterprises, and other factors. In general, economists note a reduction in the frequency of cycles due to the acceleration of the renewal of fixed capital under the influence of scientific and technological advances in modern world.
The study of the cyclical nature of social reproduction is significant not only for understanding the nature of economic crises, but also for preventing them, mitigating their negative manifestations, predicting fluctuations in investment and production, and developing a strategy for state regulation of the economy. Thus, the decision to invest in any area will become more reasonable and less risky if upward and downward waves are taken into account.
Enterprises, when making decisions regarding investment and production volume, proceed from assumptions about future prospects. If, in their opinion, the next period will bring a depression, they will seek to reduce investment now. On the contrary, if they expect that prices will increase significantly in six months, they will rush today to buy goods, buy equipment and expand construction. The success of managing economic crises depends on the timely and adequate actions of the state apparatus of managers, entrepreneurs and investors.
2. Anti-crisis management of the organization
2.1. Diagnostics of crises in the organization
Any organization, starting from the moment of its inception, faces a number of problems that can provoke an acute crisis, accompanied by a sharp deterioration in performance indicators: liquidity, solvency, profitability, working capital turnover, financial stability. Market forms of management in conditions of fierce competition lead to the insolvency of individual business entities or to their temporary insolvency. Crises can occur in any of organization life cycle stages. The emergence of an idea, design, planning, construction, development of production capacity, operation, development, decline, closure or reorganization - this is the list of stages of the cyclical development of the organization. It can go through them completely, or it can stop in its development, without achieving tangible results, cease to exist.
At the moment when the organization begins its activity, the market, as a rule, already has a significant number of competing firms. It is not easy to occupy a certain niche in the market, to position your trademark. Many organizations go bankrupt, unable to withstand the competition. Therefore, in many countries with a developed market economy, a system of measures to support small businesses has been developed, which consists in issuing preferential loans, temporary exemption from taxation, and transferring patents and technologies on favorable terms. With such support, it is easier for the organization to go through the stage of quantitative and qualitative growth, to achieve the sustainability of positive development trends. Crises often occur in mature organizations that lose their positive dynamics and ability to achieve commensurate profits.
Crises in an organization can manifest themselves: in the form of intensification of conflicts that can even lead the company to collapse. The obsolescence of the technologies used and the loss of competitive advantages, as well as a significant outflow of resources with an increase in the number of bankruptcies, are also symptoms of a growing crisis. Any acute contradictions that have arisen in the organization are related to its financial and economic activities. Therefore, anti-crisis management is primarily aimed at eliminating and preventing gaps in the system of resource allocation and optimization of economic activity.
The crisis financial condition of the company requires managers to carry out a number of non-traditional activities, use management methods and approaches that differ significantly from management in normal, stable conditions. Crisis, translated from Greek, means "decision", "turning point" or "exodus". Economic crisis in the organization reflects its difficult financial situation, which is characterized by an unsatisfactory value of a number of indicators, and the first sign is a negative financial result - a gross loss from operations, a decrease in the level of profitability, or a rapid decrease in profits by periods.
Why do previously prosperous enterprises find themselves in a state of insolvency? Causes of the crisis state of the organization may be: changes in market conditions; competitive pressure; abuse by managers or staff; activities of inspecting or controlling state bodies; the introduction of new laws or other regulations, changes in the political situation caused by the redistribution of power; natural disasters, etc. Whatever the obvious reasons for the deterioration of the financial condition, the root cause of any crisis in the organization is the low level of professionalism of the company's management.
Diagnostics crises in an organization is a set of methods aimed at identifying problems, weaknesses and bottlenecks in the management system, which are the causes of an unfavorable financial condition and other negative performance indicators. Diagnostics can be understood both as an assessment of the company's activities in terms of obtaining a general managerial effect, and as a determination of deviations, existing system parameters from the originally set ones, and as an assessment of the organization's functioning in a mobile, changing external environment in order to prevent crises.
Methods for diagnosing a crisis in an organization include: monitoring external environment and system analysis of signals about possible changes in the state and competitive status of the company, audit of the financial condition, analysis of the company's credit policy and debt, identification of risks, assessment of the current state of the organization and forecasting of its possible states in the future.
Crisis Diagnosis Tools, such as: statistics, modeling, forecasting, experiment, expertise, marketing research, etc., are applied depending on the type of crisis and the form of its manifestation.
System analysis of signals about possible changes in the state and competitive status of the company, proposed by domestic researchers, allows us to consider in the aggregate a number of parameters that serve as indicators of crisis phenomena, an increase in threats to the fulfillment of the company's mission, or, on the contrary, may indicate an expansion of the organization's capabilities. This technique is effective at the stages of early diagnosis of crises, when the goal is to prevent their occurrence, to prevent further deterioration of performance indicators.
Consider groups of indicators (signals of increasing threats) that help identify possible negative trends that hinder the implementation of the organization's strategic goals.
- Decrease in the value of demand for the goods of the company, a decrease in the purchasing power of the population, an increase in the value of demand for the goods of competing firms.
- Deterioration of parameters of production factors: reduced supply of raw materials and material resources, rising prices for raw materials, materials and equipment, rising cost of licenses for the use of inventions and discoveries.
- Curtailment of production of related industries, stagnation of their scientific, technical and economic potential, rising prices for the services of infrastructure industries.
- Tightening competition against the background of a decrease in the competitive status of the organization, active "switching" of buyers to a substitute product, price wars.
- Unfavorable changes in the activities of state and government structures: increased tax rates and the introduction of new taxes, unfavorable changes in the ruble exchange rate, customs duties, changeable civil and commercial legislation, state control over price fluctuations.
- Random phenomena: the location of the firm in a region prone to natural disasters; instability foreign policy foreign business partner countries, demographic shocks; unexpected scientific and technological breakthroughs implemented by competitors.
- Deterioration of the company's technical resources: depreciation of technological equipment (STO), use of obsolete STOs; the use of materials and semi-finished products that reduce the competitiveness of products; the use of outdated systems for the conversion, transmission and control of energy consumption, causing losses.
- Degradation of technological resources parameters: lack of capacity for systematic R&D; the use of technology that does not allow to effectively change the generation of the company's products during one life cycle.
- Weakening of personnel potential: employees are focused on the use of command-and-control methods, the performance of traditional types of work, due to stable technology; ensuring technical, social and environmental safety is not given priority.
- Lack of flexibility of the organizational structure: its stagnation and focus on the performance of functions, bureaucratization.
- The financial policy is characterized by the systematic attraction of borrowed funds, there is a fall in the exchange rate own shares firms.
Diagnostics of crises, carried out within the framework of a systematic approach, makes it possible to obtain the most complete picture of the object under study. In the practice of enterprises, analysis methods are often used that allow, at minimal cost, to assess risks, financial condition, and predict future development trends.
Management of risks, their hedging is necessary to prevent adverse trends in the development of the organization. To determine the risks, you can use statistical, expert and combined methods. Risk analysis begins with identifying its sources and causes. Risk is measured as the probability of a certain level of loss. Yes, as acceptable risk you can accept the threat of a complete loss of profits from a particular project or from entrepreneurial activity generally. Critical Risk is associated not only with the loss of profit, but also with a shortfall in the expected revenue, when the costs have to be reimbursed at their own expense. The most dangerous for an entrepreneur is catastrophic risk leading to the bankruptcy of the organization, loss of investments or even personal property of the entrepreneur.
essence statistical method It consists in the fact that the statistics of losses and profits of the enterprise are studied, the magnitude and frequency of obtaining economic returns are established, and then a forecast is made for the future. Return is understood as economic profitability and efficiency of costs (investments), which is calculated as the ratio of profit to the costs necessary to obtain it.
If a crisis occurs, a anti-crisis team which may include independent auditors, business consultants and other experts. Company managers should fully cooperate with the work of the involved experts. The created analytical group establishes the reasons that led the company to the current deplorable state, determines the way out of the crisis.
To assess the current state of the enterprise are used modern instruments financial analysis: horizontal and vertical types of analysis, calculation of financial ratios, balance sheet liquidity analysis, express analysis of the general direction of financial and economic activity, assessment of the economic potential of a business entity.
Gross financial result company is the sum of financial results from various kinds activities, divisions, product groups. In order to narrow the search field for the influence of negative phenomena as much as possible, one should understand exactly which structural elements that form financial results companies were negatively impacted.
Analysis of financial ratios involves the calculation and evaluation of the ratios of various types of funds and sources, indicators of the efficiency of the use of the organization's resources. The value of the coefficients depends on the industry characteristics and size of enterprises. An assessment of the financial condition of an enterprise using financial ratios can be carried out according to the following groups: solvency, profitability, financial stability, business activity, liquidity.
Absolute financial stability shows that stocks and costs are fully covered by own working capital. The company is practically independent of loans. The unstable financial situation is characterized by a violation of solvency: the company is forced to attract additional sources to cover reserves and costs, there is a decrease in the profitability of production. Crisis financial situation characterizes an enterprise on the verge of bankruptcy, whose overdue accounts payable and receivable cannot be repaid on time.
The financial ratios used to assess the financial stability of an enterprise include the following coefficients: autonomy, the ratio of borrowed and own funds, the provision of own funds, maneuverability, bankruptcy forecast, etc.
Solvency an enterprise is determined by its ability and ability to timely and fully fulfill payment obligations arising from trade, credit and other transactions of a monetary nature. Solvency affects the forms and conditions of transactions, as well as the availability of the possibility of obtaining loans.
Liquidity The enterprise is determined on the basis of its available liquid funds, which include cash, cash in bank accounts and easily realizable elements of working capital. Liquidity reflects the ability of the enterprise to make the necessary expenses at any time.
relative business activity indicators characterize the level of efficiency in the use of resources: material, labor and financial. Indicators of the business activity of the enterprise include: sales proceeds, net profit, labor productivity, the ratio of the total turnover of capital and working capital, the average period of turnover of receivables, the turnover ratio of receivables and equity.
Analysis of accounts payable and receivable will help determine the main directions for its restructuring, i.e. reducing the total debt and its accelerated repayment. An inventory of debts is carried out, which is divided into: current, overdue, penalties and fines. The work to eliminate the company's debt requires both an analysis of the amount of claims, and the determination of the funds available to the company to pay off debts, making a forecast of the movement Money.
Crisis diagnostics includes a set of methods necessary to assess the current state of the organization, to identify the causes of deterioration in the quantitative and qualitative indicators of its activities. Of course, diagnostics alone cannot solve the problem. It is necessary to eliminate the true cause of the crisis, smooth it out negative manifestations, eliminate the consequences. Along with such measures as cost reduction, assortment expansion, debt restructuring, in a crisis there is a need for cardinal measures to improve the enterprise, reorganize its activities, and strategic innovative changes.
2.2. Methods for overcoming the financial crisis in the organization
The peculiarity of anti-crisis management of an organization lies in the increased complexity management processes. The financial crisis manifests itself in a lack of funds, an increase in overdue accounts payable, a drop in sales, staff dissatisfaction and other adverse factors. The level of requirements for managers who take the most important, strategic decisions, increases exponentially. An organization experiencing a financial crisis may cease to exist, or may be reborn after fundamental changes have been made, for example, reorganization, restructuring of the company. The success of overcoming the crisis depends on the ability of leading managers to take adequate action in a timely manner.
In Russian companies, anti-crisis measures often come down to financial recovery measures, restructuring accounts payable. Although enterprises with significant accounts payable cannot always get out of the "debt hole".
Managing an organization in a financial crisis- this is a set of methods aimed, on the one hand, at reducing all cost items, increasing the cash flow to the organization necessary to pay off debts, and on the other hand, at increasing sales and making a commensurate profit. Significant is the use of new management techniques that can radically change the existing system after the reorganization. Such techniques include: the use of know-how, brand positioning, optimization of personnel work, the struggle for quality, pricing policy, etc.
In a crisis, the most important thing is to reduce some costs and increase others, which can make the company profitable. The organization needs a quick cash flow. Works in the chosen strategic directions cannot be financed only by internal savings. There is a need to attract borrowed funds from the outside, which in itself is difficult, because the financial crisis of an enterprise often means its actual bankruptcy. Therefore, it is so important to determine the optimal ratio of all measures of influence necessary for the enterprise to first be able to "keep afloat" and then start a new, more efficient stage in its activities.
The main methods for overcoming a financial crisis in an organization include:
- cost reduction;
- increase in cash flow to the organization;
- carrying out restructuring of accounts payable;
- determination of the organization's development strategy;
- reorganization or restructuring of the enterprise.
Cost reduction is a necessary step in a situation where an organization is experiencing a financial crisis. It is necessary to centralize the adoption of all decisions that affect the movement of tangible assets of the enterprise, to reduce or freeze the costs associated with the development of existing long-term projects: R&D, capital construction and other investments, the payback of which exceeds one year.
Cost reduction methods include: cost control, analysis of cost sources, their classification according to the degree of dependence on production volumes, cost reduction measures, assessment of the effect obtained.
Main areas of activity to reduce costs: reduction of wage fund; reducing the cost of raw materials and materials through the use of cheaper product components, horizontal integration with suppliers, work with local manufacturers, the introduction of resource-saving technologies; reducing production costs, equipment repair and maintenance costs, advertising costs, research and development work, market research, maintaining a certain quality of services.
It is important to determine the most costly balance sheet items that are subject to reduction ( capital construction, costly employee internships, extensive market research, development work) and channel those resources into restructuring and quick profit projects.
Attracting funds to the organization in a crisis, it is carried out mainly in three main areas - firstly: the sale and leasing of the company's assets; secondly: sales optimization; thirdly: a change in credit policy to accelerate the turnover of receivables.
Any assets owned by the company - buildings, structures, machinery, equipment, bonds, shares, including those of other enterprises, bank bills - can be sold or used to pay off debt during the restructuring. This is possible if these assets are not collateral for debts on other obligations (collateral requirements). If the costs of the enterprise for the storage and maintenance of assets are high, it is more profitable to sell them. Securities can be offered for purchase to creditors who are interested in expanding the scope of their activities by acquiring blocks of shares.
Sales optimization requires a number of important measures: price regulation; attracting new customers; conclusion of contracts for the production of tolling raw materials; introducing a program of trade discounts and incentives for consumers who pay faster; the conclusion of strategic alliances and alliances; estimates of additional costs associated with the introduction into production and promotion of new products to the market.
Raising funds to the organization through a change credit policy occurs due to the acceleration of the turnover of receivables. In conditions of high inflation, it is especially important to have a well-thought-out policy in relation to suppliers, customers and other counterparties. The main groups of accounts payable form debts on the budget, off-budget funds, banks, suppliers. Accounts receivable are formed through work with customers, subsidiaries and other counterparties.
To select the best credit policy, a company must weigh the potential benefits of increased sales against the cost of additional trade credits and the risk of non-payment. In order to reduce the risk of non-payment of receivables, the organization should track the credit history of customers (purchasing and payment history). The creditworthiness of a client can be assessed on the basis of the credit history of the relationship between the client and the company. Benchmarking the costs and benefits of credit policy should help determine a strategy where the amount of outstanding receivables is reasonably predictable. Programs of benefits and discounts for prepayment, cash payment and timely repayment of receivables are used. An entity must accurately forecast loan amounts that will not be repaid in order to calculate the necessary allowance to write off bad debts.
Accounts receivable turnover ratio is defined as the ratio of the annual volume of sales to the average annual volume of receivables. This ratio shows how quickly the organization collects money from customers for the delivered goods or services. The increase in the accounts receivable turnover ratio is a positive sign.
Structuring receivables by maturity used to assess possible defaults. Accounts are classified according to the age of accounts receivable. For each term, a certain percentage of receivables is determined, which will remain unpaid. The bad debt allowance should be large enough to cover all receivables that are past due.
Debt restructuring- this is the process of preparing and executing a series of consecutive transactions between an enterprise and its creditors, the main purpose of which is to obtain various kinds of concessions from creditors: reducing the total amount of debt, exemption from paying interest, reducing interest rates, deferring payment.
Algorithm for developing a debt restructuring plan
1. Inventory accounts payable and receivable: allocation of the main groups of debt; verification of the correctness of reflection of debts on invoices, invoices and payment requests; determination of total accounts payable and total receivables.
2. Identification of priority areas for restructuring: allocation of debt, which has the largest share in the total amount of liabilities; allocation of a number of priority items of debt - to a credit institution, funds, the fiscal system, counterparties; presentation of these data in the form of a table indicating the names of creditor organizations, the amounts of debt, the amount of costs, their share in the total volume of obligations.
3. Building a financial plan in the form cash flow forecast: building a ten-day schedule of cash receipts based on sales plans and receipts of receivables; building a ten-day cash outflow schedule based on procurement plans, production costs, wages, taxes, taking into account the delay and repayment of current accounts payable; generation of net cash flow; the search for sources of additional financing in the event of a negative accumulated balance is carrying out assortment shifts, optimizing the production program for the next period, and attracting short-term loans.
4. Construction of the optimal payables repayment schedule with unchanged terms- debt that can only be repaid in accordance with the conditions offered by creditors.
5. Analysis of restructuring options with stipulated conditions, i.e., the terms of debt repayment, which can be changed and creditors agree to this. This stage includes: adjusting the proposed options and scheduling debt repayment; assessment of the current value of the cash flow directed to the repayment of debt obligations.
6. Construction final debt repayment schedule and documenting agreements reached with creditors.
7. Total Efficiency Calculation restructuring carried out.
When conducting analysis of accounts payable it is required to divide all creditors into primary and secondary ones. Priority Creditors- these are those whose amount of obligations is a total of 80% of the total debt. The priority can also be determined in terms of the consequences of delaying payment. For example, if a delay in payment could result in the interruption of the supply of raw materials, the supplier may be classified as a priority creditor. Creditors holding collateral claims are also classified as first-priority creditors. The remaining creditors should not be ignored, as some of them may go to court and initiate bankruptcy proceedings. When analyzing accounts payable, it is important to determine what funds the company has to pay off debts. The cash flow forecast will help the company determine the amount of debt that needs to be restructured, as well as assess the possible amount of payments to creditors in the future.
Debt restructuring methods
1. compensation- it asset exchange companies to various concessions from creditors, reducing the amount of debt, reducing the interest rate. Enterprises that are suitable for this method of restructuring are enterprises with a large number of fixed assets. They are unlikely to be sold at a reasonable price.
One of the types of compensation is exchange of shares, located on the balance sheet of the enterprise, on the concessions of the creditor. The agreement is concluded between the creditor and the owners of the enterprise, who are ready to give up part of the shares of the enterprise in exchange for improving the financial condition of the enterprise.
2. Bilateral netting of debts can be carried out if the enterprises have counterclaims to each other. Netting is the fastest and effective method reducing the amount of debt, since there is no exchange of cash or fixed assets. Offsetting can be done unilaterally by notifying the other party in an official letter, followed by the conclusion of an agreement in which both parties confirm the correctness of the offset amount. A variety of netting is a multilateral netting, which is carried out between a number of enterprises that have requirements for each other. For example, these may be enterprises operating in related industries. A kind of chain of debtors - creditors is formed, which is often difficult to identify in full.
3. Purchase of claims against a creditor with subsequent netting can be successfully implemented if the debtor enterprise has free funds for this procedure. First, the debtor enterprise identifies organizations that have claims against its own creditor, then buys these claims at a discount and performs the usual two-way netting.
4. Debt security- This is a restructuring method that involves the re-registration of unsecured claims of creditors against debtors into claims secured by collateral. Creditors with security rights have priority in the event of bankruptcy of the debtor organization. The debtor enterprise that uses this method must have real estate that is not yet pledged for any obligations.
Claims can also be secured by a third party guarantee or surety, under which the third party undertakes to repay the company's debt if the company is unable to do so on its own.
5. Payment of debt by bank bills is a restructuring method in which multiple unsecured creditors are replaced by one secured creditor, the bank. The company enters into an agreement with the bank to provide him with a relatively inexpensive, but secured by collateral, credit. The bank issues a loan not in cash, but with its promissory notes issued to the enterprise. The company pays its creditors with bank bills, but in return requires a reduction in debt. Creditors either sell bank bills or present them to the bank for payment. The bank pays the presented bills, and the company returns the loan received in accordance with the terms of the loan agreement.
In this transaction, creditors, in return for doubtful debts, receive quite specific requirements for the bank. The bank receives interest for the granted loan, and a guarantee of repayment of this loan in the form of collateral for the property of the debtor enterprise. To implement this method, the debtor company needs the support of a stable bank and assets that can be used as collateral for a loan.
6. Conversion of debt into securities: bonds, bills and shares implies the issuance of debt in order to restructure debt. One of the ways to increase the probability of debt repayment is to provide bonds issued under it with collateral, and the size of the bond loan is limited by law. In case of violation of the debt restructuring agreement, the securities are sold on the market, and the funds received from the sale are used to cover the debt.
Debt restructuring and other measures to overcome the financial crisis will help the organization enter a new stage in its activities. At the same time, there is no guarantee that the organization will become profitable in the future. The complexity of anti-crisis management lies in the fact that it is necessary not only to “pat the holes”, but also to carry out fundamental changes aimed at making a profit in the shortest possible time. Therefore, a strategy for future development should be determined and the reorganization (or restructuring) of the enterprise should be carried out.
Enterprise restructuring is a complex process of developing and implementing a project for a radical change in the state of an existing organization, its structure, which can be implemented in the form of a merger, acquisition, separation, horizontal and vertical integration. Restructuring involves the development of clear strategic actions and the formation of a new business portfolio of the company, which may be accompanied by a change in the legal form.
The peculiarities of the restructuring are the global nature of the changes associated with the positioning of a strategic product on the market, a change in the profile of the enterprise. When creating a restructuring program, several project options are developed, from which the management chooses the best one, taking into account profit and risks.
Enterprise reorganization- this is a process of significant changes in the organization, which affects all significant aspects of its activities: product, assortment, factors of production, system general management. These changes may not affect the structure, the strategic product, but they must be so significant that the company can survive in an unstable market environment and become profitable.
3. Bankruptcy and restructuring of domestic organizations
3.1. Bankruptcy and liquidation of a legal entity
An extreme manifestation of the crisis state of an enterprise is bankruptcy, it means its actual insolvency, i.e., the inability to satisfy the requirements of creditors for monetary obligations. Behind the strict wording of the Federal Bankruptcy Law are hidden: the collapse of the domestic industry; thousands of people who found themselves outside the gates of the enterprise; obsolescence of the material and technical base of social production.
Cyclical phenomena in a market economy are accompanied by periodic crises, one of the manifestations of which is the growth of bankruptcies of organizations. In Russia, there was a sharp transition from a planned centralized economy to market relations, which sharply aggravated the manifestations of the economic crisis. State-formed industrial complexes hardly reoriented themselves to the market. Many of them had to go through bankruptcy procedures and restructuring activities.
Bankruptcy can be initiated by filing an application with the arbitration court: the head or owner of a legal entity, creditors, tax authorities, social funds. An enterprise-debtor may be declared bankrupt only by a decision of an arbitration court.
After the court accepts the application, the creditors form committee (meeting) of creditors which protects their rights and is endowed with a number of important powers.
Basic bankruptcy procedures are: observation, external management, rehabilitation (financial recovery), bankruptcy proceedings and liquidation (see Fig. 2). In addition, at any stage of bankruptcy, an amicable agreement can be concluded between the debtor enterprise and its creditors. The most frequently used bankruptcy procedures in Russian practice are: external administration, bankruptcy proceedings and voluntary liquidation of a legal entity. Along with this, large industrial enterprises are characterized by the use of restructuring in the course of bankruptcy proceedings, accompanied by the purchase of assets and controlling stakes.
1. Observation is applied to the debtor from the moment the court accepts the application until the introduction of external administration or bankruptcy proceedings and is carried out by an interim manager appointed by the arbitration court. At this point, the debtor's management exercises its powers with certain restrictions. During the observation period, a financial audit is carried out and a preliminary assessment of the company's activities is given. So far, the interim manager is only watching the debtor enterprise from the outside, practically not interfering in its activities.
2. External control is introduced by the arbitration court on the basis of a decision of the committee of creditors and is carried out by an external manager, whose candidacy is approved by the court. Significant changes have been made to the Federal Bankruptcy Law regarding the timing of external administration. If earlier external management was introduced for a period of no more than 12 months, which in some cases could be extended for another six months, now external management can be implemented for a number of years (10 years). As the experience of external managers has shown, for short term it is almost impossible to successfully complete external management and pay off creditors without selling the company's property at public auction during bankruptcy proceedings.
Rice. 2. Bankruptcy of a legal entity
For the period of external management, the head of the debtor enterprise is removed from office. All the powers of the enterprise's management bodies are transferred to an external manager, to whom accounting and financial reporting documents, seals, stamps, material values, equipment.
Main purpose of external control— restoration of the solvency of the debtor enterprise and satisfaction of all creditors' claims. All assets and property are at the disposal of the external manager. Most big deals approved by the committee of creditors, to which the manager must report.
Based on the decision of the committee of creditors and the report of the external administrator, the court may take one of the following decisions:
a) terminate bankruptcy procedures and start settlements with creditors in accordance with the register of creditors;
b) refuse to approve the manager's report, declare the debtor bankrupt and open bankruptcy proceedings;
c) approve the settlement agreement.
3. Sanation (financial recovery)- a procedure aimed at restoring the solvency of the debtor enterprise through financial injections from the outside and the implementation of targeted reorganization measures. The term "sanation" in translation from Latin means "improvement" or "treatment".
Reorganization can be carried out with a change in the legal status of the enterprise, which is accompanied by fundamental structural changes: mergers, acquisitions or, conversely, separation. For example, an enterprise may start new life in the form of two others, which are created on its production facilities, with different names and organizational and legal form. A merger can be accomplished by merging an enterprise that is in crisis with another that is financially sound. Or the enterprise may be taken over by a larger company, whose management gains access to management through the purchase of a controlling stake, the property of the debtor. There are various options for financial recovery, which is carried out with the help of financial injections from third parties. When disaggregated, the enterprises separated in the process of division receive the status of a new legal entity, and property rights and obligations are transferred to each of them on the basis of a separation balance sheet.
Reorganization can be carried out without changing the status of a legal entity, with such activities that could bring the company to a new level of competitive advantage. State-owned enterprises are being rehabilitated at the expense of the country's budget, private ones - through a targeted bank loan or investments of interested parties.
The main purpose of rehabilitation- to achieve a stable financial position of the enterprise and bring it out of the crisis. The difference between reorganization and external management is that it is carried out outside the framework of bankruptcy, and therefore gives more chances to improve the enterprise.
4. Bankruptcy proceedings is opened by the arbitration court and begins with the appointment of a bankruptcy trustee. The term of bankruptcy proceedings may not exceed one year. It may be extended by the arbitration court for six months or more. All management functions are transferred to the bankruptcy trustee, who is responsible for assessing the property and assets of the debtor. All property of the debtor, with the exception of certain types of assets, is sold at open auction (by competition). The bankruptcy trustee uses the funds received to satisfy the requirements of creditors in the order of priority determined by law. Those creditors whose claims are secured by a pledge of property have advantages over others.
The main purpose of bankruptcy proceedings— sale of property of the debtor enterprise and satisfaction of creditors' claims.
5. Liquidation of a legal entity is carried out after the end of the bankruptcy proceedings, the approval of the report of the bankruptcy trustee and the issuance of a decision by the arbitration court. The bankruptcy commissioner submits the court ruling to the body in which the debtor enterprise was registered. An entry on the liquidation of the debtor enterprise is made in the Unified State Register of Legal Entities. From the moment the entry is made, the debtor enterprise is considered liquidated.
Grounds for liquidation of legal entities:
a) As a result of declaring a legal entity bankrupt.
b) A legal entity conducts activities prohibited by law.
c) The organization operates without a license.
d) As a result of a court decision to invalidate the registration of a legal entity due to a violation of the law.
e) The expiration of the legal entity or the achievement of the purpose for which it was created.
The liquidation of a legal entity may be initiated by the registration chamber, tax office, law enforcement agencies.
Voluntary liquidation of a legal entity is carried out outside the framework of bankruptcy, at the own will of the owners of the organization, its founders, shareholders, who have come to the conclusion that further activities are inappropriate. The real reasons for voluntary liquidation may be different: the enterprise has become unprofitable; there was a need to pour capital into other more promising business areas; achieved the goal for which the company was created. The problem of fictitious bankruptcy, the termination of activities in order to divert funds without paying off creditors, is also relevant.
The owners of a legal entity who have made a decision on liquidation must notify the state body that registers legal entities of this decision in writing. Created liquidation commission, to which the management of the affairs of the legal entity is transferred. The liquidation commission may act in court on behalf of the liquidated legal entity. The liquidation commission must inform through the mass media, at least two months in advance, about the upcoming liquidation, the procedure and deadlines for filing claims by creditors. After the deadline for submitting claims from creditors, the liquidation commission is interim liquidation balance sheet and coordinates it with the state registration authority. The monetary claims of creditors are satisfied in accordance with the interim liquidation balance sheet in the order of priority established by law. The requirements of each queue are satisfied after the requirements of the previous queue are fully satisfied.
If the value of the property is not sufficient to satisfy the claims of all creditors, then bankruptcy proceedings must be applied to the liquidated enterprise. In this case, the liquidation commission is obliged to apply to the arbitration court with an application for declaring the debtor bankrupt. If the liquidation commission has not yet been appointed, the owner of the debtor must apply with such an application. The arbitration court decides on the opening of bankruptcy proceedings, which takes place according to the usual scheme. The duties of the bankruptcy trustee may be assigned to the chairman of the liquidation commission. Creditors have the right to submit their claims within one month from the date of publication of the announcement of declaring the liquidated debtor bankrupt.
The owner of the property of the debtor enterprise, the founders, participants and the head, the chairman of the liquidation commission, who committed the violation, bear subsidiary liability for unsatisfied creditors' claims.
After satisfying the claims of all creditors, the liquidation commission is final liquidation balance sheet, in accordance with which the division of property between the owners, participants, shareholders of a legal entity is carried out. The distribution of property is carried out in accordance with the order specified in the constituent documents of the liquidated organization, taking into account the requirements of the legislation applicable to a particular organizational and legal form. The liquidation of a legal entity is considered completed after an entry on liquidation is made in the Unified State Register of Legal Entities.
6. settlement agreement- this is an agreement between the enterprise-debtor and its creditors, which involves a mutual solution to the problem of repayment of accounts payable. For example, a new loan agreement is drawn up with reference to the original requirements. Various options for debt restructuring are considered and specific repayment periods are determined.
An amicable agreement may be concluded at any stage of the bankruptcy proceedings. The decision on its conclusion is made by the committee (meeting) of creditors, by a simple majority of votes, and is considered adopted if all creditors on obligations secured by pledge voted for it. The settlement agreement must be approved by the arbitration court.
The court may invalidate the amicable agreement if: the agreement contains conditions that provide advantages for some and infringe on the rights of others, creditors, or if the execution of the amicable agreement may lead to the bankruptcy of the debtor enterprise.
Arbitrator is a competent leader in the field of anti-crisis management, who is appointed by the arbitration court to carry out a number of bankruptcy procedures: supervision, external management, bankruptcy proceedings. federal Service for Financial Recovery of Enterprises (FSFR) certifies external arbitration managers and issues licenses to them. The arbitration manager must be able to solve complex high-ranking tasks in a situation where an enterprise is experiencing significant financial difficulties, has lost its competitive advantages, and needs to be restructured.
3.2. Ways to overcome bankruptcy: the experience of Russian companies
Transition Russian economy from a planned centralized economy to a market economy and the protracted economic crisis that followed led to a mass of bankruptcies domestic companies. Enterprises that worked for a specific state order now had to look for sales markets themselves.
- Problems faced by production organizations during the formation of a market economy:
- The implementation of most of the settlements in non-monetary form, i.e. a large volume of barter transactions.
- Huge debts, a significant excess of accounts payable over receivables. The volume of debts of many Russian enterprises was approaching the volume of their annual revenue.
- Bankruptcies turned out to be an expression of private interests within the country in the struggle for the redistribution of property, which did not contribute to the withdrawal of enterprises from the crisis.
- Poor performance due to outdated technology, core production assets, material and technical base.
- The discrepancy between the number of employed workers and the needs of production, which has undergone gradual and significant reductions.
- A sharp aggravation of social problems associated with the release of staff and significant wage arrears.
- The interest of some persons carrying out transactions for the sale of enterprises in the growth in the number of bankruptcies.
- Violation of economic ties between enterprises and the loss of government orders.
- Difficulties in collecting debts from debtors, since they themselves were in a state of bankruptcy.
Lukhovitsky plant of special designs- a defense complex enterprise with a fate typical of transitional Russia. Failed privatization, failed conversion and diversification. The funds that were allocated for the development of a new production of upholstered furniture were used to pay wages. Unique Japanese-made equipment was used for the manufacture of garage doors and fences, and from expensive materials. The core products of the plant - noise suppression containers used in testing aircraft engines - did not bring profit, because at that time the state of the aircraft industry was already deplorable, and the demand for containers lost relevance for many years.
In parallel, the enterprise has always carried out woodworking, designed for the production of containers for transporting aircraft. Woodworking equipment could be used for the manufacture of joinery, but its physical and moral deterioration made the products uncompetitive due to the high cost. Attempts to turn the enterprise into a "subject market relations"made him bankrupt. This enterprise, and many others in Russia, were forced to go through procedures external administration and bankruptcy proceedings.
There was an active purchase of many enterprises by interested legal entities, other organizations were located on the production facilities. State assistance to strategically important facilities allowed the latter to "stay afloat", but there was a problem of obtaining a commensurate profit, turning the enterprise from unprofitable to profitable.
By the time of bankruptcy proceedings in JSC " Kondpetroleum"(Nyagan, Khanty-Mansiysk autonomous region) have accumulated huge debts: to budgets of different levels, extra-budgetary funds, banks. The meager wages of workers were delayed for seven months. Bankruptcy was the last resort. The main problem was the continuous decline in oil production. In 1991, 9.8 million tons of oil were produced here, in 1995 - 5.1 million tons, in 1998 - 2.5 million tons. Already in the course of bankruptcy proceedings, the fall was stopped. In October 1999, the enterprise acquired TNK-Nyagan OJSC, a subsidiary of the Tyumen Oil Company, which was established at the same time. The next step was to increase oil production.
Violation of economic ties rendered Negative influence to a number of industries. A striking example is Likinskaya manufactory. After the collapse of the USSR, it faced the problem of rising prices for Central Asian cotton, which became imported goods. Over time, Roskontrakt bought up 52% of the company's shares. The new owner set up the production of coarse calico for export. However, only 5% of production capacity was used for this. As a result, Likinka became insolvent. The bankruptcy procedure at the enterprise was initiated by the FSDN. For a year and a half, external management not only failed to stretch the enterprise, but it became even more bogged down in debt. In September 1999, bankruptcy proceedings were introduced.
Ways to overcome bankruptcy
The experience of large Russian companies shows that there are certain means of overcoming bankruptcy. As a rule, such enterprises undergo cardinal changes associated with a change of ownership, reorientation to new products, and a change in organizational and legal forms. The enterprise can restore its solvency during the period of external management or carry out restructuring after the completion of bankruptcy proceedings. Basically, there is a purchase of the enterprise by other owners. For example, on the site of a bankrupt plant, two viable JSCs can be created, which will become buyers of the plant's unsold infrastructure.
External management does not often give a positive result, but on the contrary, it can create a situation where the company is even more bogged down in debt. Therefore, the external manager must be aware of using the most economical and optimal means.
To get started with woodworking, Lukhovitsky plant of special designs it was necessary to completely change the equipment. The external manager decided to create on the basis of the plant two joint-stock companies where the assets were transferred. The new owner put things in order in the shops. However, even the first serious order for silencers required serious efforts from the company, and, above all, the purchase and repair of expensive equipment. There was also a problem with woodworking: the equipment for it was very energy-intensive and obsolete.
External manager attempted to sell the assets left over from the original infrastructure. This amount could be enough for settlements with creditors. However, an unexpectedly initiated lawsuit to the court demanding indexation of wage arrears turned out to be unaccounted for. In the end, all the funds went to salaries. The external manager considered it expedient to decide the fate of the property of the enterprise in bankruptcy proceedings. Moreover, it is easier to realize the remains of ownership in this procedure than in external management.
External control can be done using tools such as creation on the basis of the holding company from multiple businesses, use tolling contracts, auction sales of the company's shares, successful work with creditors and holding debt restructuring, signing settlement agreement. The meeting of creditors, as a rule, must approve the annual plan for external management and establish the order in which debts are to be paid.
For example, lenders Angarsk petrochemical The companies signed a settlement agreement, according to which ANHK received unprecedented favorable terms for repaying debts. The ANHK bankruptcy case was initiated in December 1997 at the suit of the Irkutsk branch of the State Tax Service. At the time of initiation of bankruptcy proceedings, the total amount of ANHK's debt was about 4 billion rubles, of which 1.5 billion rubles. belonged to the federal budget. A deal was made for sale of a controlling stake ANHK, with the purchase of 62.5% of debts. After that, Rosinvestneft concluded settlement agreement. Other debts of ANHK were also restructured.
According to the law "On insolvency (bankruptcy)" bankruptcy proceedings provides for a stop in production, power outages (so as not to accumulate debts), layoffs of workers and the sale of assets. However, bankruptcy proceedings can be considered in some cases as a resuscitation procedure for an enterprise, after which it receives a new life. Such changes require significant investment by interested legal entities.
This is how the bankruptcy proceedings of JSC " Kondpetroleum"A business plan was adopted for TNK-Nyagan for three years, within which four investment programs were developed aimed at reconstructing the system for gathering and transporting oil, drilling, housing and social problems, and purchasing imported equipment.
Competition proceedings for Likinskaya manufactory was marked by the introduction of a system of prompt response to any information from production, an increase in equipment utilization, an increase in production volumes, and an increase in labor productivity.
Changes to UralAZ touched mainly on the enterprise management system. The team that came to the plant together with the arbitration manager, despite the constant lack of financial resources, introduced a new management information system. The range of manufactured products was changed - in the direction of increasing its range. The volume of sales increased, settlements with creditors were made both through cash and through the sale of shares.
The main ways to bring a manufacturing enterprise out of a crisis that is insolvent - bankrupt
1. At the stage of external management:
a) change in the management system;
b) creation of a holding from a number of enterprises interested in the debtor's assets;
c) sale of assets (equipment, premises, shares);
d) use of tolling schemes;
e) introduction of economy mode;
f) sale of shares;
g) debt restructuring;
h) conclusion of a settlement agreement with creditors.
2. At the stage of bankruptcy proceedings:
a) sale of property of the enterprise;
b) restructuring of the debtor enterprise;
c) formation on the basis of the debtor enterprise of new organizational and legal forms;
d) issue and sale of shares of a newly created organization on the basis of the debtor enterprise;
e) settlement agreement with creditors;
f) the introduction of new investment programs that can radically change the profile of the enterprise and make it competitive.
As the practice of domestic production organizations, the effectiveness of reorganization measures carried out in the course of bankruptcy proceedings depends, first of all, on the competence of the company's management. There are examples of businesses that went bankrupt with huge debts. However, thanks to the sequence of actions of the manager, it was possible to partially liquidate the debt already at a short stage of external management, and then restructure it in the process of bankruptcy proceedings. In the course of such cardinal changes, it was necessary to sell the property, assets of the debtor, form a new business portfolio, practically create other enterprises on the basis of the debtor. Partially, it was possible to maintain the release of the original product range, now focused on a specific consumer.
As you know, during the economic crisis, it is precisely those enterprises that produce the means of production that are subject to the greatest cyclical fluctuations. This fact has found a vivid embodiment in the modern Russian economy, which has undergone cardinal structural changes. Therefore, the managers of domestic enterprises must possess the entire arsenal of anti-crisis management tools in order to respond in a timely manner to external changes in the environment, be able to anticipate crises, eliminate and overcome their negative manifestations.
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Introduction
Conclusion
Bibliography
INTRODUCTION
The term "anti-crisis management" arose relatively recently with the beginning of the reform of the Russian economy and with the gradual entry of the country into a state of crisis. Obviously, to get the economy out of the crisis, a new type of management is needed, which is fundamentally different from management carried out in stable conditions.
The aggravation of the crisis in Russia has caused the need for directive anti-crisis management. This special type of management is called anti-crisis.
This raises the question of the need for anti-crisis management as practical activities, science and academic discipline after the country's exit from the crisis, because, of course, the economic crisis, no matter how deep it may be, will someday pass.
The history of the economic development of many countries and the peculiarities of the development of reproductive processes in socio-economic systems indicate that crises and cyclicality are integral characteristics of any development process.
The inevitability and inevitability of periods of decline and rise in development various systems exists under any, even the most successful management. And not only the economy, but all systems develop cyclically, not only in the course of expanded reproduction do crises arise. Therefore, the process of managing the socio-economic system must always be anti-crisis.
Anti-crisis management is a type of management in which mechanisms have been developed for predicting and monitoring a crisis, analyzing its nature, probability, signs, applying methods to reduce the negative consequences of a crisis and using its results for future more sustainable development.
The possibility of anti-crisis management is associated with the art of getting out of critical situations, the activity of a person who can look for and choose the best ways out of crisis situations, mobilize to get out of the most difficult and dangerous situations, use past experience in overcoming crises, adapt to problem situations.
Also, the possibility of anti-crisis management is determined by the knowledge of the cyclical nature of the development of socio-economic systems, which makes it possible to foresee crisis situations and prepare for them. The need for anti-crisis management is determined by development goals.
All problems of anti-crisis management can be divided into four groups. The first group includes problems of recognition of pre-crisis situations. The second group of problems of anti-crisis management is related to the methodological problems of the life of the organization. This group includes a complex of financial and economic problems. The third group of problems is the problem of anti-crisis management, in the form of differentiation of management technology. It includes in the most general consideration of the problem of monitoring crises and the development of forecasts for the development of socio-economic systems, the problem of developing managerial decisions. The fourth group of problems includes conflictology, which always accompanies crisis situations.
1. The main stages of anti-crisis management
The purpose of anti-crisis management at the enterprise is to analyze the factors of the emergence of a crisis situation, as well as the development and practical implementation of a comprehensive economic mechanism crisis management. This mechanism consists in monitoring the external and internal environment of the company in order to detect early signs of an approaching crisis, promptly assess and analyze the financial condition of the company and identify the likelihood of its insolvency (bankruptcy) and subsequent implementation economic measures to overcome the crisis situation for the enterprise.
The experience accumulated over the years of the reform in managing the activities of an enterprise in a crisis has shown the real importance of developing this area of economic research. but modern methods crisis management require a clear response and constant adaptation to changing market conditions. The constant process of improvement and development of the economic mechanism of anti-crisis management is in demand by enterprises in modern conditions. It must be implemented through the following main steps:
1. Identification of the main factors and signs of crisis phenomena in the economy of the enterprise.
2. Assessment of crisis factors.
3. Development and definition of methods of anti-crisis management in the strategy of the enterprise.
4. Introduction of anti-crisis management methods and control over their implementation.
The general sequence of creating management decisions:
1. Preparation of management decisions, development of a system of measures to bring the organization out of a crisis situation.
2. Collection of initial data on the state of affairs in the company.
3. Preparation of managerial decisions to bring the organization out of a crisis situation, a structural and morphological analysis is carried out.
4. Determining the feasibility and ways to bring the organization out of a crisis situation. It is expedient or inexpedient and how it is possible to bring the organization out of a crisis situation depends on how much the crisis has affected the activity.
5. When it becomes clear that the moment of the beginning of the action to bring organizations out of a crisis situation has passed, it is only possible to control the processes taking place in it without interfering in them, as well as obtaining state support.
6. If the crisis situation has had a strong negative impact on the activities of the organization and its further existence is impossible, they build a model of destructuring, termination of its activities and declaring it bankrupt.
7. If the crisis situation has had a slight negative impact on the economic activity of the enterprise, they build a model of reorganization (change of status). It assumes a change in the organizational structure, the reduction of those industries that are unprofitable or the costs of which are incommensurable with the profit received.
8. Setting goals for the reorganization by a group of specialists involved in crisis management, determining the resources needed to achieve these goals.
9. Development of measures to achieve the set goals, which includes drawing up a program of actions for specialists implementing anti-crisis management decisions, taking into account the factors of a crisis situation.
10. The possibility of achieving the set goals is checked.
11. Based on the data obtained, management decisions are developed to bring the organization (enterprise) out of a crisis situation (anti-crisis management decisions).
1.1. The stage of identifying factors and signs of crisis phenomena at the enterprise
An enterprise is both a subject and an object in the system of anti-crisis procedures, so the most important is the division of factors and signs of crisis phenomena into external and internal.
Factor analysis is the primary operation of anti-crisis management, as it provides a basis both for assessing the factors of a crisis situation and for developing a behavior strategy that allows an enterprise to introduce a number of economic methods of anti-crisis management. The analysis involves the study of two components - external and internal factors of the enterprise.
The analysis of the external factors of the enterprise is aimed at finding out what the organization can expect if the management methods are successful, as well as what complications it can expect if it fails to adequately respond to sudden changes in the environment. The analysis includes a review of the macro and micro environment.
The study of the macro environment involves the study of the general conditions of the enterprise in the external environment and includes consideration of the impact of the economy, legal regulation and management, political processes, natural environment and resources, social and cultural components of society, scientific, technical and technological process of development of society, infrastructure, etc. The analysis of the microenvironment is aimed at assessing the state of those components of the external environment with which the organization is in direct interaction. At the same time, it is important to emphasize that an enterprise can have a significant impact on the nature and content of this interaction and thus actively participate in the formation of additional opportunities and in the prevention of a crisis. The main factors of the microenvironment include buyers, suppliers, competitors and the labor market.
The analysis of internal factors reveals the opportunities and distinctive advantages that the enterprise has in the competition, as well as the weaknesses of the enterprise's management, which are the cause of the unstable and crisis situation.
Internal factors are analyzed in the following areas:
personnel of the enterprise, their potential, qualifications;
organization of management;
production, including organizational, operational and technical and technological characteristics and Scientific research and development;
the finances of the enterprise;
marketing;
organizational culture.
On the basis of sociological studies conducted by a number of Russian industrial enterprises (data for 2008-2009), Table 1 has been compiled, which presents the structure of external and internal factors of crisis phenomena and their significance in modern conditions.
Table 1. Internal and external factors of crisis situations
|
Types of external and internal factors |
Significance, % |
|
|
1. Industry |
||
|
1.1. Market condition, strong competition |
||
|
1.2. Dishonesty of counterparties, competitors |
||
|
1.3. Low level of legislative protection of the industry |
||
|
1.4. The importance of the enterprise in the Russian Federation |
||
|
2. Shareholding |
||
|
2.1. government intervention |
||
|
2.2. Equity redistribution based on takeover |
||
|
2.3. High equipment wear |
||
|
2.4. Low level of ensuring the rights of shareholders |
||
|
2.5. Inconsistency in the positions of major shareholders |
||
|
3. Cooperation risks of infrastructure |
||
|
3.1. Transport |
||
|
3.2. Marketing |
||
|
3.3. Supply |
||
|
3.4. Financial |
||
|
4. Regulation of the activities of the enterprise |
||
|
4.1. Change in federal taxation |
||
|
4.2. Change in local taxation |
||
|
4.3. Change in market conditions, decline in demand for products |
||
|
4.4. Risk of fines and sanctions |
||
|
4.5. Benefits Cancellation Risks |
||
|
5. Technological |
||
|
5.1. Fire risk |
||
|
5.2. Flooding risk |
||
|
6. Financial |
||
|
6.1. Shortage of funds |
||
|
6.2. Low level of creditworthiness of the enterprise |
||
|
6.3. Change in interest lending rates |
||
|
6.4. Wrong pricing policy |
||
|
6.5. High level of receivables |
||
|
6.6. Disproportion in the use of long and short money |
||
|
6.7. high pace growth in costs associated with an increase in production volumes |
||
|
7. Quality control |
||
|
7.1. Mistakes in making strategic and tactical decisions by the management team |
||
|
7.2. Low usage information technologies |
||
|
7.3. The level of qualification of the management apparatus |
||
|
7.4. Unfavorable working conditions with contractors |
||
|
7.5. Uncontrolled growth in management costs |
||
1.2. Crisis factors assessment stage
After the internal and external factors of the crisis state of the enterprise are identified, the stage of analysis and a comprehensive review of the current market situation in which the organization operates begins. It should be borne in mind that the analysis of the above factors suggests that decisions made on the basis of taking into account only external or only internal factors will inevitably suffer from insufficient consistency, since they are verified and well sound methods crisis management can only be developed on the basis of a thorough analysis with the identification of complete list factors that determine the activities of the enterprise, and the most likely trends in their development and change based on the establishment of the main forces and mechanisms that can have a significant impact on them.
An example for such an assessment can serve as a SWOT analysis, which allows you to qualitatively analyze and structure the strengths and weaknesses of the enterprise, as well as potential external threats and opportunities. In doing so, the following should be noted:
Strong (Strengths) and Weaknesses (Weaknesses) parties - factors of the enterprise, which it can influence (internal factors);
· opportunities (Opportunities) and threats (Threats) - factors beyond the control of the enterprise and influencing its development (external factors).
The methodology of the above analysis involves filling in a SWOT matrix, which reflects and then sequentially compares the internal features (strengths and weaknesses) and external aspects of the enterprise (opportunities and threats). Based on the ratio of factors, a decision is made on the optimal direction of business development and the corresponding economic mechanism for managing the enterprise, which is reflected in such sections of the matrix as the combination of factors fields.
SWOT analysis can be carried out in the following areas:
the enterprise as a whole;
Individual business areas
individual markets in which the company operates;
individual commodity-market combinations;
in the current, short or long term.
However, when applying a SWOT analysis, there is a risk of both underestimating and overestimating some factors. Miscalculations in the analysis of any of the components of the business may further affect the economic mechanism of enterprise management. The following "bottlenecks" of the method under consideration are distinguished:
Insufficiency and limitations in obtaining primary information characterizing the activities of the enterprise (relevance, completeness, reliability);
· subjectivity of an expert assessment of external and internal factors.
1.3. Stage of development of methods of anti-crisis management
The most important stage in bringing an organization out of a crisis situation is the development of anti-crisis management methods. The quality of management decisions depends on many factors, the most significant of which are the following.
1) standard problems. Such problems do not allow any deviations to the side, and in the end, skills and skills should play a major role in their solution;
2) typical problems. They are resolved on the basis of existing rules and algorithms, and in the course of the decision it follows from a variety of ways to choose the optimal set of rules and schemes that allows you to succeed;
3) heuristic problems. In the course of solving them, you need to either find them somewhere, for example, in the literature, or formulate the rules for solving them yourself with their subsequent use.
2. Terms of use:
1) quasi-stable, or favorable, conditions, when no unforeseen situations arise before a specialist, he stays in a normal, calm environment;
2) extreme, i.e., such conditions when a specialist is required to show all his qualities and they will be used to judge his professional suitability; his future fate depends to some extent on this;
3) crisis conditions, when unforeseen situations arise that lead or may lead to disruption of normal performance indicators, and in some cases leading to accidents, disasters and similar phenomena.
3. Sufficiency of initial information:
1) insufficient amount of initial information. To solve the problem, it is necessary to find the initial information in order to achieve the goal;
2) a sufficient amount of initial information. To solve the problem, the information that is available to the specialist is quite sufficient;
3) an excess amount of initial information. To solve the problem, such a large amount of information is not required.
4. Reliability of the initial information:
1) clearly unreliable, not corresponding to the conditions of the task, the unreliability of which is not difficult to identify;
2) pseudo-reliable, corresponding to the conditions of the problem, but containing such information that does not allow finding the correct solution to the original problem;
3) completely reliable, corresponding to the conditions of the problem and allowing to obtain the correct solution of the original problem.
5. Scale of the problem:
1) global problems - the life of entire regions, and in some cases the entire planet as a whole, depends on their solution;
2) local problems - the existence of a small group of individuals or an individual depends on their solution;
3) microlocal problems - a specific act of an individual depends on their solution.
6. Technical equipment:
1) is missing. Not in stock needed technical means to establish a quality learning process;
2) is available in insufficient volume. There is a lack of technical means for a sustainable, high-quality learning process;
3) is available in abundance. Technical means are present in full and function in accordance with the requirements of the educational process.
An enterprise management strategy should be developed in conjunction with anti-crisis procedures, which can be conditionally divided into three stages.
First stage. Operational anti-crisis management.
The purpose of anti-crisis management at the first stage is the elimination or minimization of the most significant crisis factors for the enterprise, such as:
decrease in solvency;
low level or lack of self-financing;
decline or stagnation of production;
· Growth of expenses and decrease in revenue for the main activities.
As part of the first stage of anti-crisis management at an enterprise, as an example, the following measures can be taken:
· the division of a long production cycle into shorter periods in order to regulate the level of work in progress;
· the conclusion of contracts for the production of products, providing for the payment and recognition of the company's revenue at the stages of manufacturing products in order to attract additional financial resources;
· reduction of cooperative risks in cooperation with a permanent circle of suppliers of basic materials and finished products;
· conducting tenders for the supply of basic components and materials.
Second phase. Current anti-crisis management.
The effect of the introduction of economic measures at the second stage is to overcome the crisis state of the enterprise during the current year: achieving the standard level of current liquidity and the planned level of product profitability, improving the investment attractiveness of the enterprise.
The economic mechanism for the implementation of the second stage in the enterprise is as follows:
· reduction of the final cost of production due to branch localization of separate specialized productions of the company;
Reducing the cost of maintaining the non-productive sphere;
· renegotiation of contracts in order to eliminate the impact on the economy of the enterprise of unfavorable changes in the exchange rate;
· close work with potential customers for the most accurate determination of the level of requirements for products;
Offering additional warranty and post-warranty service for manufactured products in competition;
· active marketing policy and expansion of sales markets.
Third stage. Medium-term anti-crisis management.
The implementation of the third stage of anti-crisis management is carried out within 3-5 years and is aimed at increasing production efficiency, increasing the competitiveness of the enterprise, and increasing the capitalization of the business. It includes a set of measures aimed at improving the financial and economic policy, reducing costs through better use of material and labor resources, and introducing modern information technologies.
Medium-term methods of anti-crisis management for society can be:
· restructuring of the company's activities within the framework of the integration of enterprises;
· increase in the volume of production of the main type of products and expansion of the range of products;
· Access to new international and domestic markets for products and services.
It should be noted that the implementation of these measures is possible only if the target concept of enterprise management is developed and implemented, thanks to which management acquires a unity of tasks and methods for achieving the given benchmarks, linking the targets with the available resources.
1.4. Stage of implementation of anti-crisis management methods and control over their implementation
In addition, the effectiveness of the application of economic methods of anti-crisis management is assessed at the stage of monitoring their implementation. Comparison of various management options involves not only the choice of the optimal economic mechanism for the recovery of the enterprise, but also the prevention of negative consequences of the implementation of anti-crisis procedures.
In the case when the implementation of the decision did not lead to any changes (positive or negative), consider the reasons why the decisions were not implemented or the results obtained were different from those planned. After determining the reasons for the unsatisfactory execution of the management decision, a new one is prepared, taking into account the results obtained from the anti-crisis management measures already taken.
If the implementation of the management decision has yielded positive results (in the work of the company there have been trends to improve the performance of economic activity), but not to the extent that is necessary, then changes are made to the system for implementing management decisions.
If specialists give an opinion on the implementation of the anti-crisis program, and the situation of the organization's crisis situation in the market has not changed, it is necessary to develop measures to change the status of the organization, in particular, it may be declared bankrupt and take measures related to the implementation of bankruptcy procedures.
In the case when the anti-crisis program is completed, and the external situation of the organization's position has changed, the anti-crisis management system is adapted to the changed market conditions. To bring the organization out of a crisis situation, additional management decisions of an anti-crisis nature are being prepared.
The system of control and early detection of signs of an upcoming crisis is important. A serious warning of the future troubles of the enterprise can be a negative reaction of business partners, suppliers, creditors, banks, consumers of products to certain activities carried out by the organization, and their proposals. In this sense, all kinds of reorganizations of the enterprise (organizational, structural, opening or closing of divisions, branches, subsidiaries, their mergers), frequent and unreasonable changes in suppliers, entering new markets, risky purchases of raw materials, materials and other changes in its strategy are indicative. Another significant feature, also monitored by creditors, is the change in the management structure and atmosphere at the top levels of management. The collapse of organizations, firms or enterprises, as a rule, begins with conflicts in the top management.
Signs of an impending crisis also include the nature of changes in the financial performance of the enterprise, the timeliness and quality of financial reporting and auditing.
CONCLUSION
Crisis management is both an activity and a profession; its content is to help organizations in solving crisis situations.
Despite the undoubted importance of anti-crisis management for the Russian economy and certain successes in this industry, it is still at an early stage of development. Insufficient knowledge of the scientific foundations of management, management culture skills and experience in managing a company in a crisis situation often prevent managers from discovering the “pain points” of the organization in time and finding the right solutions.
Significant assistance in solving emerging issues can be provided by anti-crisis management, which is gradually expanding, covering not only industry, but also Agriculture, transport and construction.
An important indicator of anti-crisis management is its effectiveness.
The following factors influence the effectiveness of anti-crisis management.
1. Professionalism of anti-crisis management and special training. Professionalism is formed in the course of special training, purposeful accumulation of experience and development of the art of anti-crisis management.
Today, the country has created a system for training anti-crisis managers who are able to bring an enterprise out of a crisis with the least losses. Anti-crisis management should become a necessary element of any management: strategic, creative, production, environmental, financial, etc.
2. The art of management, given by nature and acquired in the process of special training, should be highlighted in the list of factors for the effectiveness of anti-crisis management. Therefore, for anti-crisis management, psychological analysis is extremely important in the selection of specialists who are able to sensitively respond to the approach of a crisis and manage in extreme situations.
3. Methodology for developing risky solutions. Such a methodology should be created and mastered, because it largely determines such qualities of management decisions as timeliness, completeness of the reflection of the problem, specificity, and organizational significance.
4. Scientific analysis of the situation, forecasting trends. The vision of the future, and not subjective, but based on accurate, scientifically based analysis, allows us to constantly monitor the approaching crisis.
5. An important factor in the effectiveness of anti-crisis management is also corporatism, i.e. understanding and acceptance by all employees of the goals of the organization, readiness to work selflessly to achieve them, this is a special kind of integration of all employees, the development of internal patriotism and enthusiasm.
6. Leadership is also included in the set of factors for effective anti-crisis management. Leadership is determined not only by the personality of the manager, but also by the prevailing style of work, the structure of the management staff, the authority of the authorities, confidence, and strengthened trust in the manager.
7. Efficiency and flexibility of management consist in changing management in accordance with situations, adapting management to crisis conditions.
8. Strategy and quality of anti-crisis programs. In many situations, there may be a need to change the management strategy and develop special anti-crisis development programs.
9. The human factor should be singled out as a separate item. This implies the mandatory presence of an anti-crisis team - the closest assistants to the anti-crisis manager, who can enjoy his special confidence.
10. The crisis monitoring system is an extremely important factor in the effectiveness of anti-crisis management. These are organized actions for continuous constant determination of the probability and reality of the onset of a crisis for its timely detection and recognition.
control crisis system analysis
LIST OF USED LITERATURE
1. Anti-crisis management: textbook / Ed. EM. Korotkov. - M.: INFRA-M, 2007. - 620 p.
2. Anti-crisis management: tutorial/ I.K. Larionov. - 3rd ed., revised. and additional - M.: Publishing and Trade Corporation "Dashkov and K", 2005. - 292 p.
3. Anti-crisis management: Textbook on a unified program for the preparation of anti-crisis managers: in 2 volumes: Vol. 1: Legal basis; V.2: ECONOMIC FOUNDATIONS / ANSWER. RED. G.K.TAL. - M.: INFRA-M, 2004. - 928 p., 1027 p.
4. Ivasenko A. G. Anti-crisis management. Tutorial. - M.: KnoRus, 2010. - 506 p.
5. Kreinina M.N. Financial stability of the enterprise: assessment and decision making // Financial management. - 2007. - No. 12.
6. Makarevich L.M. Business risk management. - M.: Publishing house "Delo i Service", 2006. - 448 p.
7. Nozdreva R. B. Anti-crisis management. Tutorial. - M.: Prospekt Publishing House, 2010. - 120 p.
8. Tatarnikov E.A., Novikova N.A. Anti-crisis management of an enterprise: Textbook for universities. - M .: Publishing house "Exam", 2005. - 256 p.
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Disclosure of the concept and essence of the crisis. Consideration of signs and features of anti-crisis management, characteristics of its effectiveness, identification of ways and factors to improve it. Determination of the role of strategy in anti-crisis management at the enterprise.
Introduction
1. Theoretical foundations of anti-crisis management of an enterprise
1.2 Methods of anti-crisis management in an unstable economy
2. Analysis of enterprise management LLC "Dominus"
2.1 a brief description of enterprises OOO "Dominus"
2.2 Analysis of economic indicators of Dominus LLC
2.3 Problems of activity of the enterprise LLC "Dominus"
3. Development of a package of draft documents to improve anti-crisis management at Dominus LLC
3.1 A package of draft documents on the development of anti-crisis management in Dominus LLC
3.2 Effect and costs of the implementation of the package of draft documents
Conclusions and offers
The term “crisis management” is relatively recent. It is believed that the reason for its appearance is the reform of the Russian economy and the emergence of a large number of enterprises that are on the verge of bankruptcy. The crisis of some enterprises is normal phenomenon market economy, in which, by analogy with Darwin's theory, the fittest survive. An enterprise that does not correspond to the “environment” must either adapt and use its strengths or disappear. In Japan, for example, about 3,000 SMEs go out of business every month. Approximately the same number of new ones appear. In Russia, about four-fifths of all enterprises by existing standards should long ago be considered bankrupt, as evidenced by the growing number of bankruptcy cases. It can be said that the development of the theory of anti-crisis management is an order of practice, and the need for anti-crisis management arises not only in the transition economy, but in the developed market economies of Western countries. A special role in anti-crisis management is played by financial management, which is a combination of strategic and tactical elements of financial support for entrepreneurship, allowing to manage cash flows and find optimal financial solutions. Strengthening control over cash is essential for any enterprise, especially those in crisis.
The relevance of the chosen topic of the thesis is that in order to survive in a market economy and prevent the bankruptcy of an enterprise, it is necessary, with the help of financial analysis, to identify and eliminate shortcomings in financial activity in a timely manner and find reserves for improving the state of the enterprise and its solvency.
However, it is obvious that the massive application of bankruptcy procedures in relation to debtor enterprises is unlikely to lead to economic growth, improvement of the general economic situation and improvement of the investment climate. Among the problems is high monopolization Russian market, under which the bankruptcy of enterprises can disrupt the existing production chains and complicate the work of entire industries. The implementation of bankruptcy procedures, to the extent that it corresponds to the insolvency of Russian enterprises, entails large-scale negative social consequences, for which the state simply does not have sufficient resources to eliminate them. In addition, the practice of applying bankruptcy procedures has shown that they are often aimed at gaining control over a potentially solvent enterprise.
The object of the study is the company Dominus LLC, while the subject of the study is the anti-crisis management of the enterprise.
The purpose of the thesis is to develop a package of draft documents to improve the anti-crisis management of Dominus LLC.
Based on the goal, we can determine the following tasks that need to be solved in the course of work:
consider theoretical basis anti-crisis management of the enterprise;
analyze the management of Dominus LLC and identify problems in its activities;
development of a package of draft documents for the development of anti-crisis management of Dominus LLC.
In the course of studying the topic of the thesis, the following research methods were applied:
theoretical analysis of literary sources on anti-crisis management at the enterprise;
document analysis and statistical reporting enterprises;
comparison and comparison of digital data,
survey and questioning.
The practical significance of the study lies in the possibility of applying the results in the activities of the object of study for the development of anti-crisis activities.
As a theoretical basis for the implementation of this work, the sources of special literature, materials of the periodical press were used. Among the authors whose analysis methods are the basis of this work, it is necessary to note Savitskaya G.V., Selezneva N.N., Sheremeta A.D.
The thesis consists of an introduction, three sections, conclusions and suggestions, a list of references and an appendix.
The first section discusses the theoretical anti-crisis management of the enterprise, reveals the concept, principles and functions of anti-crisis management. Separately, groups of anti-crisis management methods are defined and their content is considered. The legal provisions of the bankruptcy procedures of an enterprise in contemporary practice crisis management.
The second section is of an applied nature, it gives a general description of the enterprise under study, an analysis of the technical and economic indicators of the activities of Dominus LLC. In order to identify the problems of the enterprise, a SWOT analysis was carried out, where internal weaknesses and strengths and external opportunities and threats were analyzed in detail. With the help of a survey and questioning, expert assessments of the anti-crisis measures applied at the enterprise were obtained.
The third section presents the developed draft documents on improving the anti-crisis management of Dominus LLC, and also considers the effect of their implementation.
1.1 The concept, directions, principles and functions of anti-crisis enterprise management
Anti-crisis management (anti-crisis management) has become one of the most "popular" terms in Russian business life. In some cases, it is understood as the management of a company in the context of a general economic crisis5, in others - the management of a company on the eve of bankruptcy, while others associate the concept of anti-crisis management with the activities of anti-crisis managers in the framework of judicial bankruptcy procedures. Some authors believe that anti-crisis measures should be taken when the financial situation of an enterprise operating on the market becomes already sad, and the prospect of bankruptcy is real. Based on this, they completely ignore the diagnosis of the threat of bankruptcy in the early stages of its occurrence and focus only on the "treatment" of the crisis. Others, however, consider this approach unacceptable. So, for example, in his book "Handbook of the Crisis Manager" Professor Utkin E.A. wrote: “This approach is like “putting the cart before the horse.” The main thing in anti-crisis management is to ensure conditions when financial difficulties cannot be permanently stable. There should be no bankruptcy with this approach, since a managerial mechanism should be established to eliminate emerging problems before they become irreversible.
According to the author of the thesis, a systematic approach to anti-crisis management is correct, when anti-crisis management is considered as a set of measures from preliminary diagnosis of a crisis to methods for its elimination and overcoming. Based on this, the most correct definition is the definition of anti-crisis management given by Professor A.G. Gryaznova in the book "Anti-Crisis Management":
“Anti-crisis management is such an enterprise management system that has a complex, systemic nature and is aimed at preventing or eliminating phenomena that are unfavorable for business by using the full potential of modern management, developing and implementing a special program at the enterprise that is of a strategic nature, allowing to eliminate temporary difficulties, save and increase market positions under any circumstances, while relying mainly on their own resources.
It is necessary to consider on what principles the anti-crisis management system is based. The main principles include:
Early diagnosis of crisis phenomena in the financial activity of an enterprise. Given that the emergence of a crisis in an enterprise poses a threat to the very existence of the enterprise and is associated with tangible losses in the capital of its owners, the possibility of a crisis should be diagnosed at the earliest stages in order to use the possibilities of its neutralization in a timely manner.
Urgency of response to crisis phenomena. Each emerging crisis phenomenon not only tends to expand with each new economic cycle, but also gives rise to new accompanying phenomena. Therefore, the sooner anti-crisis mechanisms are applied, the more opportunities for recovery the enterprise will have.
The adequacy of the enterprise's response to the degree of real threat to its financial balance. The system of mechanisms used to neutralize the threat of bankruptcy is overwhelmingly associated with financial costs or losses. At the same time, the level of these costs and losses should be adequate to the level of the threat of bankruptcy of the enterprise. Otherwise, either the expected effect will not be achieved (if the action of the mechanisms is insufficient), or the enterprise will incur unreasonably high costs (if the action of the mechanism is excessive).
Full implementation of the internal capabilities of the enterprise out of the crisis. In the fight against the threat of bankruptcy, the enterprise should rely solely on internal financial capabilities.
The above principles are the basis for organizing anti-crisis management of an enterprise.
Anti-crisis management has a subject of influence - crisis factors, i.e., all manifestations of an immoderate cumulative exacerbation of contradictions that cause the danger of its extreme manifestation, the onset of a crisis. Crisis factors can be perceived and real.
Any management to a certain extent must be anti-crisis or becomes such as the organization enters a period of crisis development. Ignoring this provision has negative consequences, and taking it into account contributes to the painless passage of crisis situations.
The essence of anti-crisis management is expressed in the following provisions:
crises can be foreseen, expected and caused;
crises to a certain extent can be accelerated, anticipated, postponed;
it is possible and necessary to prepare for crises;
crises can be mitigated;
crisis management requires special approaches, special knowledge, experience and art;
crisis processes can be controlled to a certain extent;
management of crisis recovery processes can accelerate these processes and minimize their consequences.
Crises are different, and their management can also be different. This diversity is manifested in the management system and processes (algorithms for developing management decisions) and especially in the management mechanism. Not all means of influence give the necessary effect in a pre-crisis or crisis situation.
The anti-crisis management system should have special properties:
flexibility and adaptability, which are most often inherent in matrix control systems;
propensity to strengthen informal management, motivation of enthusiasm, patience, confidence;
diversification of management, the search for the most acceptable typological signs of effective management in difficult situations;
reducing centralism to ensure timely situational response to emerging problems;
strengthening of integration processes, allowing to concentrate efforts and more effectively use the potential of competence.
Anti-crisis management has features in terms of its technologies:
mobility and dynamism in the use of resources, the implementation of changes and transformations, the implementation of innovative programs;
implementation of program-targeted approaches in technologies for the development and implementation of management decisions;
increased sensitivity to the time factor in management processes, the implementation of timely actions on the dynamics of situations;
increased attention to preliminary and subsequent assessments of management decisions and the choice of alternatives for behavior and activities;
use of the anti - crisis criterion of the quality of managerial decisions in their development and implementation .
The implementation of the anti-crisis management policy in case of the threat of bankruptcy of the enterprise provides for the following main areas:
Monitoring the financial condition of the enterprise in order to detect early signs of its crisis development;
Determination of the scale of the crisis state of the enterprise;
Study of the main factors causing the crisis development of the enterprise;
Creation and implementation of an anti - crisis management plan .
An important element of the anti-crisis management system is its functions. Anti-crisis management functions are activities that reflect the subject of management and determine its result. They answer a simple question: what needs to be done to manage successfully at all stages of the crisis. There are 6 functions:
1. Pre-crisis management
2. Management in a crisis
3. Managing the processes of overcoming the crisis
4. Stabilization of unstable situations
5. Minimize losses and missed opportunities
6. Timely decision making
Thus, anti-crisis management is the diagnosis of the causes of crisis situations in the economy and finances of an enterprise; a comprehensive analysis of the financial and economic state of the enterprise to establish methods for its financial recovery; business planning of financial recovery of the enterprise; development of anti-crisis management procedures and control over their implementation. The problem of anti-crisis management of an insolvent enterprise stems from the very nature of the economic reforms being carried out in the country. The impact on the enterprise with the help of the institution of bankruptcy allows not only to restructure the work of the enterprise itself, but also to improve the financial and economic climate of other economic entities, to reduce the amount of non-payments.
The methods of anti-crisis management include the entire arsenal of methodological tools, including a set of measures from preliminary diagnosis of the crisis to methods for its elimination and overcoming (Fig. 1.2.1).
Fig.1.2.1. Crisis management methods
Diagnostics of crises in an organization is a set of methods aimed at identifying problems, weaknesses and bottlenecks in the management system, which are the causes of an unfavorable financial condition and other negative performance indicators. Diagnostics can be understood both as an assessment of the company's activities in terms of obtaining a general managerial effect, and as a determination of deviations, existing system parameters from the originally set ones, and as an assessment of the organization's functioning in a mobile, changing external environment in order to prevent crises.
Methods for diagnosing a crisis in an organization are presented in Figure 1.2.2.
Tools for diagnosing a crisis, such as: statistics, modeling, forecasting, experiment, expertise, marketing research, etc., are used depending on the type of crisis and the form of its manifestation. System analysis of signals about possible changes in the state and competitive status of the company allows us to consider in aggregate a number of parameters that serve as indicators of crisis phenomena, an increase in threats to the fulfillment of the company's mission, or, on the contrary, may indicate an expansion of the organization's capabilities. This technique is effective at the stages of early diagnosis of crises, when the goal is to prevent their occurrence, to prevent further deterioration of performance indicators.
Fig.1.2.2. Diagnostic methods of anti-crisis management
The groups of indicators (signals of increasing threats) that help identify possible negative trends that impede the achievement of the organization's strategic goals include:
Decrease in the value of demand for the goods of the company, a decrease in the purchasing power of the population, an increase in the value of demand for the goods of competing firms
Curtailment of production of related industries, stagnation of their scientific, technical and economic potential, rising prices for the services of infrastructure industries
Tougher competition against the background of a decrease in the competitive status of the organization, active “switching” of buyers to a substitute product, price wars
Random phenomena: the location of the firm in a region prone to natural disasters; instability of the foreign policy of foreign business partner states, demographic shocks; unexpected scientific and technological breakthroughs realized by competitors
Deterioration of the parameters of production factors: reduction in the supply of raw materials and material resources, rising prices for raw materials, materials and equipment, rising costs of licenses for the use of inventions and discoveries
Unfavorable changes in the activities of state and government structures: increased tax rates and the introduction of new taxes, unfavorable changes in the ruble exchange rate, customs duties, changeable civil and commercial legislation, state control over price fluctuations.
Deterioration of the company's technical resources: depreciation of technological equipment (STO), use of obsolete STOs; the use of materials and semi-finished products that reduce the competitiveness of products; the use of outdated systems for the conversion, transmission and control of energy consumption, causing losses.
Degradation of technological resources parameters: lack of capacity for systematic R&D; the use of technology that does not allow to effectively change the generation of the company's products during one life cycle.
Weakening of personnel potential: employees are focused on the use of command-and-control methods, the performance of traditional types of work, due to stable technology; ensuring technical, social and environmental safety is not given priority.
Lack of flexibility of the organizational structure: its stagnation and focus on the performance of functions, bureaucratization.
The financial policy is characterized by the systematic attraction of borrowed funds, there is a fall in the price of the company's own shares.
Diagnostics of crises, carried out within the framework of a systematic approach, makes it possible to obtain the most complete picture of the object under study. In the practice of enterprises, analysis methods are often used that allow, at minimal cost, to assess risks, financial condition, and predict future development trends.
Risk management, their hedging is necessary to prevent adverse trends in the development of the organization. Risk analysis begins with identifying its sources and causes. Risk is measured as the probability of a certain level of loss. So, as an acceptable risk, you can take the threat of a complete loss of profit from a particular project or from entrepreneurial activity in general. The critical risk is associated not only with the loss of profit, but also with the shortfall in the expected revenue, when the costs have to be reimbursed at their own expense. The most dangerous for an entrepreneur is a catastrophic risk leading to the bankruptcy of the organization, loss of investments or even personal property of the entrepreneur.
The following methods can be used to identify risks:
The statistical method, which studies the statistics of losses and profits of the enterprise, establishes the magnitude and frequency of obtaining economic returns, and then makes a forecast for the future. Return is understood as economic profitability and efficiency of costs (investments), which is calculated as the ratio of profit to the costs necessary to obtain it.
The expert method is a method of expert assessments of members of the anti-crisis team, which may include independent auditors, business consultants and other experts. The created analytical group establishes the reasons that led the company to the current deplorable state, determines the way out of the crisis.
To assess the current state of the enterprise, modern financial analysis tools are used:
horizontal and vertical types of analysis,
calculation of financial ratios,
balance sheet liquidity analysis,
express analysis of the general direction of financial and economic activities,
assessment of the economic potential of a business entity.
An assessment of the financial condition of an enterprise using financial ratios can be carried out according to the following groups: solvency, profitability, financial stability, business activity, liquidity.
An analysis of accounts payable and receivable will help determine the main directions for its restructuring, that is, reducing the total debt and its accelerated repayment. An inventory of debts is carried out, which is divided into: current, overdue, penalties and fines. Work on the liquidation of the enterprise's debt requires both an analysis of the amount of claims and the determination of the funds available to the enterprise to pay off debts, and the preparation of a cash flow forecast.
Crisis diagnostics includes a set of methods necessary to assess the current state of the organization, to identify the causes of deterioration in the quantitative and qualitative indicators of its activities. Of course, diagnostics alone cannot solve the problem. It is necessary to eliminate the true cause of the crisis, smooth out its negative manifestations, and eliminate the consequences. Along with such measures as cost reduction, assortment expansion, debt restructuring, in a crisis there is a need for cardinal measures to improve the enterprise, reorganize its activities, and strategic innovative changes.
The next group of methods of anti-crisis management in the organization is the methods of overcoming the crisis in the organization. A feature of anti-crisis management of an organization lies in the increased complexity of management processes. This is proved by the practice of the end of 2008-2009, when in our country, as well as throughout the world, the financial crisis dominated and effective managerial influence was required.
The financial crisis manifests itself in a lack of funds, an increase in overdue accounts payable, a drop in sales, staff dissatisfaction and other adverse factors. An organization experiencing a financial crisis may cease to exist, or may be reborn after fundamental changes have been made, for example, reorganization, restructuring of the company.
Management of an organization in a financial crisis is a set of methods aimed, on the one hand, at reducing all cost items, increasing the cash flow to the organization necessary to pay off debts, and on the other hand, at increasing sales and making a commensurate profit. Significant is the use of new management techniques that can radically change the existing system after the reorganization. These methods include:
use of know-how
brand positioning,
workforce optimization,
fight for quality
pricing policy, etc.
In a crisis, the most important thing is to reduce some costs and increase others, which can make the company profitable. The organization needs a quick cash flow. Works in the chosen strategic directions cannot be financed only by internal savings. There is a need to attract borrowed funds from the outside, which in itself is difficult, because the financial crisis of an enterprise often means its actual bankruptcy. Therefore, it is so important to determine the optimal ratio of all measures of influence necessary for the enterprise to first be able to "keep afloat" and then start a new, more efficient stage in its activities.
The main methods for overcoming a financial crisis in an organization include:
cost reduction;
increase in cash flow to the organization;
carrying out restructuring of accounts payable;
determination of the organization's development strategy;
carrying out reorganization or restructuring of the enterprise.
Cost reduction methods include: cost control, analysis of cost sources, their classification according to the degree of dependence on production volumes, cost reduction measures, evaluation of the effect obtained. The main areas of activity to reduce costs: reduction of the wage fund; reducing the cost of raw materials and materials through the use of cheaper product components, horizontal integration with suppliers, work with local manufacturers, the introduction of resource-saving technologies; reducing production costs, equipment repair and maintenance costs, advertising costs, research and development work, market research, maintaining a certain quality of services.
It is important to identify the most costly balance sheet items that are subject to reduction (capital construction, expensive internships for employees, large-scale marketing research, development work) and direct these resources to restructuring and projects that provide for quick profits.
Attracting funds to the organization in a crisis is carried out mainly in three main areas:
sale and lease of company assets;
sales optimization;
change in credit policy to accelerate the turnover of accounts receivable.
Any assets owned by the company - buildings, structures, machinery, equipment, bonds, shares, including those of other enterprises, bank bills - can be sold or used to pay off debt during the restructuring.
Sales optimization requires a number of important measures: price regulation; attracting new customers; conclusion of contracts for the production of tolling raw materials; introducing a program of trade discounts and incentives for consumers who pay faster; the conclusion of strategic alliances and alliances; estimates of additional costs associated with the introduction into production and promotion of new products to the market.
Attracting funds to the organization by changing the credit policy is due to the acceleration of the turnover of receivables. In conditions of high inflation, it is especially important to have a well-thought-out policy in relation to suppliers, customers and other counterparties. The main groups of accounts payable form debts on the budget, off-budget funds, banks, suppliers. Accounts receivable are formed through work with customers, subsidiaries and other counterparties. Benchmarking the costs and benefits of credit policy should help determine a strategy where the amount of outstanding receivables is reasonably predictable. Programs of benefits and discounts for prepayment, cash payment and timely repayment of receivables are used. An entity must accurately forecast loan amounts that will not be repaid in order to calculate the necessary allowance to write off bad debts.
Debt restructuring is the process of preparing and executing a series of successive transactions between an enterprise and its creditors, the main purpose of which is to obtain various kinds of concessions from creditors: reducing the total amount of debt, exemption from paying interest, reducing interest rates, deferred payment.
When analyzing accounts payable, it is required to divide all creditors into primary and secondary ones. Priority creditors are those whose liabilities amount to a total of 80% of the total debt. The cash flow forecast will help the company determine the amount of debt that needs to be restructured, as well as assess the possible amount of payments to creditors in the future.
Debt restructuring methods:
1. Compensation is an exchange of company assets for various concessions from creditors, a reduction in the amount of debt, a decrease in the interest rate. Enterprises that are suitable for this method of restructuring are enterprises with a large number of fixed assets. They are unlikely to be sold at a reasonable price.
2. Bilateral offsetting of debts can be carried out if enterprises have counterclaims to each other. Netting is the fastest and most effective method of debt reduction because there is no exchange of cash or fixed assets.
3. The purchase of claims against a creditor with subsequent set-off can be successfully implemented if the debtor enterprise has free funds for this procedure. First, the debtor enterprise identifies organizations that have claims against its own creditor, then buys these claims at a discount and performs the usual two-way netting.
4. Debt collateral is a restructuring method that involves the restructuring of unsecured claims of creditors against debtors into claims secured by collateral. Creditors with security rights have priority in the event of bankruptcy of the debtor organization. The debtor enterprise that uses this method must have real estate that is not yet pledged for any obligations.
5. Payment of debt by bank bills is a restructuring method in which numerous unsecured creditors are replaced by one secured creditor - a bank. The company enters into an agreement with the bank to provide him with a relatively inexpensive, but secured by collateral, credit. The bank issues a loan not in cash, but with its promissory notes issued to the enterprise. The company pays its creditors with bank bills, but in return requires a reduction in debt. Creditors either sell bank bills or present them to the bank for payment. The bank pays the presented bills, and the company returns the loan received in accordance with the terms of the loan agreement. To implement this method, the debtor company needs the support of a stable bank and assets that can be used as collateral for a loan.
6. Converting debt into securities: bonds, bills and shares involves the issuance of debt in order to restructure debt. One of the ways to increase the probability of debt repayment is to provide bonds issued under it with collateral, and the size of the bond loan is limited by law.
Debt restructuring and other measures to overcome the financial crisis will help the organization enter a new stage in its activities. At the same time, there is no guarantee that the organization will become profitable in the future. The complexity of anti-crisis management lies in the fact that it is necessary not only to “patch holes”, but also to carry out fundamental changes aimed at making a profit in the shortest possible time. Therefore, a strategy for future development should be determined and the reorganization (or restructuring) of the enterprise should be carried out.
Enterprise restructuring is a complex process of developing and implementing a project for a radical change in the state of an existing organization, its structure, which can be implemented in the form of mergers, acquisitions, divisions, horizontal and vertical integration. Restructuring involves the development of clear strategic actions and the formation of a new business portfolio of the company, which may be accompanied by a change in the legal form.
The peculiarities of the restructuring are the global nature of the changes associated with the positioning of a strategic product on the market, a change in the profile of the enterprise. When creating a restructuring program, several project options are developed, from which the management chooses the best one, taking into account profit and risks.
The reorganization of an enterprise is a process of significant changes in an organization that affects all significant aspects of its activities: product, assortment, factors of production, general management system. These changes may not affect the structure, the strategic product, but they must be so significant that the company can survive in an unstable market environment and become profitable.
When considering a bankruptcy case of a debtor - a legal entity, the following bankruptcy procedures are applied: supervision; financial recovery; external management; competitive production; world agreement. The procedure for conducting and the content of these procedures is regulated by the federal law of October 26, 2002 N 127-FZ "On insolvency (bankruptcy)".
1) Observation. Supervision establishes a number of additional obligations and restrictions on the debtor. In the course of observation, the powers of the head of the debtor organization, other management bodies of the debtor are exercised subject to the restrictions established in Article 64 of Law N 127-FZ. Thus, particularly important transactions in relation to property (several interconnected transactions) can be made by the debtor's management bodies only with the written consent of the interim manager.
In addition, the debtor's management bodies are not entitled to make management decisions listed in paragraph 3 of article 64 of Law N 127-FZ: on the reorganization and liquidation of the debtor; on the creation of legal entities or on the participation of the debtor in other legal entities; on the establishment of branches and representative offices; on the payment of dividends; on the placement by the debtor of bonds and other issue-grade securities, with the exception of shares; on withdrawal from the founders (participants) of the debtor, acquisition of previously issued shares from shareholders; on participation in associations, unions, holding companies, financial and industrial groups and other associations of legal entities; on the conclusion of simple partnership agreements.
The competence of the first meeting of creditors is defined in Article 73 of Law N 127-FZ.
2) Financial recovery. Financial recovery is included in the list of bankruptcy procedures established in Article 27 of Law N 127-FZ in relation to legal entities. The meaning of this procedure is to create conditions for restoring the financial stability of the debtor enterprise at the expense of funds provided by its founders, shareholders, participants, as well as interested third parties. Financial recovery is introduced by the decision of the arbitration court on the basis of the decision of the meeting of creditors for a period not exceeding two years. So it is established in paragraphs 1 and 6 of article 80 of Law N 127-FZ.
The initiators of the introduction of the financial recovery procedure for the debtor may be several categories of persons: the debtor himself, owners, third parties (clause 1, article 78 of Law N 127-FZ).
When applying, a number of documents must be attached: financial recovery plan, debt repayment schedule, protocol general meeting founders (participants) of the debtor.
During the period of financial recovery, the debtor's management bodies exercise their powers with restrictions. The debtor's governing bodies must coordinate a number of actions with the administrative manager. It should be noted that the debtor's transactions made in violation of the procedure established in Article 82 of Law N 127-FZ may be declared invalid upon the application of the persons participating in the bankruptcy case. Not later than one month before the expiration of the established period of financial rehabilitation, the debtor is obliged to submit to the administrative manager a report on the results of financial rehabilitation, to which the following documents are attached:
Debtor's balance sheet as of the last reporting date;
Profit and loss statement of the debtor;
Documents confirming the repayment of creditors' claims.
3) External control. The initiator of the introduction of external management is the meeting of creditors. On the basis of its decision, the arbitration court introduces this procedure, and also approves the external receiver on the basis of a ruling issued by the court.
Law N 127-FZ introduced measures to restore the solvency of the debtor, implemented as part of external management:
1) an increase in the authorized capital of the debtor at the expense of contributions from participants and third parties;
2) placement of additional ordinary shares of the debtor;
3) replacement of the debtor's assets.
4) Bankruptcy proceedings. Bankruptcy proceedings are a bankruptcy procedure applied to a debtor declared bankrupt in order to adequately satisfy the claims of creditors. This procedure is carried out after the decision of the arbitration court to declare the debtor bankrupt.
There is a period for conducting bankruptcy proceedings, which is one year, but it can be extended at the request of the person participating in the case for six months. When making a decision on declaring a debtor bankrupt, the arbitration court approves the bankruptcy trustee, and also determines the amount of his remuneration.
According to paragraph 5 of article 53 and paragraph 1 of article 146 of Law N 127-FZ, it provides for the possibility of transition from bankruptcy proceedings to external management.
5) Settlement agreement. Settlement agreement is a bankruptcy procedure applied at any stage of the bankruptcy proceedings in order to terminate the bankruptcy proceedings by reaching an agreement between the debtor and creditors.
Features of the conclusion of a settlement agreement at each of these stages are determined by Chapter VIII of Law N 127-FZ. The list of conditions, the observance of which is necessary for the approval of the settlement agreement by the arbitration court, is provided for by Article 158 of Law N 127-FZ. Thus, the settlement agreement can be approved by the arbitration court only after the repayment of the debt on the claims of creditors of the first and second priority.
Thus, the bankruptcy procedures used in modern practice of anti-crisis management are prescribed in the federal law of October 26, 2002 N 127-FZ “On insolvency (bankruptcy)”, which establishes the procedure and content of these procedures: observation; financial recovery; external management; competitive production; world agreement.
Summing up the results of the first section, the author of the work notes that anti-crisis management is a whole range of interrelated activities from early diagnosis of a crisis to measures to overcome it, i.e. the essence of anti-crisis management lies in a set of measures to predict, identify, prevent and eliminate crisis phenomena in the enterprise.
Anti-crisis management is based on the principles that distinguish anti-crisis management from the usual one: the principle of early diagnosis of crises in an enterprise; the urgency of responding to crisis phenomena, the adequacy of the enterprise's response to the degree of a real threat to its financial balance, the full realization of the internal possibilities for the enterprise to exit the crisis.
In anti-crisis management, there are following features Keywords: pre-crisis management, crisis management, management of crisis recovery processes, stabilization of unstable situations, minimization of losses and missed opportunities, timely decision-making.
In the practice of anti-crisis management, a rich methodological base has been developed, which is divided into two large groups of methods: diagnostic and aimed at overcoming the crisis, which, in turn, are internally divided into a number of specific methods.
3.1 A package of draft documents on the development of anti-crisis management in Dominus LLC
As suggestions for improving anti-crisis management at Dominus LLC, the author of the work offers the developed documents for the development of anti-crisis management:
The action plan for the development of anti-crisis management in Dominus LLC reflects the sequence of those measures that need to be implemented in the management practice of Dominus LLC.
Action plan for the development of anti-crisis management of Dominus LLC for 2010
| № | Event | Expected Result | Period of execution | Responsible | |
| Adding anti-crisis management functions to the functional duties will perform. directors | Anti-crisis coordination | January 2010 | Director | ||
| Creation of a commission on anti-crisis management | Performance of anti-crisis management functions | February-March 2010 | Executive Director | ||
| Development of regulations on the commission for anti-crisis management | Streamlining and targeting the activities of the commission | Executive Director | |||
| Development of a regulation on financial controlling | Streamlining financial controlling activities | February 1 - February 15, 2010 | Head of Financial Department | ||
| Creation of an automated control system department | Execution of financial information automation functions | February-March 2010 | |||
| Development of regulations on the department of automated control system | Organizing information automation | February-March 2010 | Executive Director, Head of Finance Department | ||
Regulations on the commission for anti-crisis management of Dominus LLC
1. General Provisions
1.2. The Commission in its activities is guided by the Labor Code of the Russian Federation, as well as these Regulations.
2. Main tasks and rights
2.1. The main tasks of the commission are:
Analysis and assessment of the socio-economic and financial situation of the enterprise, identification of potential threats and possible consequences of the negative impact of the external environment,
Development of measures aimed at mitigating the consequences of external threats.
2.2. The Commission has the right:
Request and receive, in the prescribed manner, the necessary materials from various departments of the enterprise;
Listen to representatives of various departments of the enterprise;
Give instructions to various departments of the enterprise, recommendations to the heads of various departments of the enterprise.
3. Organization of work
3.1. The composition of the commission is approved by the director of the enterprise.
3.2. The activities of the commission are provided by:
Logistics department;
Planning and Economic Department.
3.3. Commission meetings are held as needed, but at least once a month.
3.4. Decisions on issues considered at the meetings of the commission are taken based on the results of the discussion and are documented in the minutes.
3.5. The decisions of the commission may be the basis for the preparation of the relevant internal regulatory documents of the enterprise.
Controlling is a management system that combines elements of planning, accounting, control and analysis of an enterprise's activities, as well as a management decision support system, or a management information system. Combination of Controlling with strategic management(strategic controlling) is a convenient tool that allows you to effectively coordinate strategic and operational plans, accounting information.
Regulations on financial controlling of Dominus LLC
1. General Provisions
1.1. This Regulation establishes general approaches in Dominus LLC to financial controlling, which is a control system that ensures the concentration of control actions in the most priority areas of the financial activity of the enterprise, the timely detection of deviations of its actual results from those envisaged and the adoption of operational management decisions that ensure its normalization .
2. The main tasks of financial controlling
2.1. The main tasks of financial controlling are:
monitoring the implementation of financial targets established by the system of planned financial indicators and standards;
measurement of the degree of deviation of the actual results of financial activity from those envisaged;
diagnosing, by the size of deviations, serious deterioration in the financial condition of the enterprise and a significant decrease in the pace of its financial development;
development of operational management decisions to normalize the financial activities of the enterprise in accordance with the stipulated goals and indicators;
adjustment, if necessary, of individual goals and indicators of financial development in connection with changes in the external financial environment, financial market conditions and internal conditions for the implementation of the economic activity of the enterprise.
3. Structure of financial controlling
3.1. Financial controlling in Dominus LLC is built on the following main stages:
Defining a Controlling Object
Determination of Controlling Types and Areas
Formation of a system of priorities for controlled indicators
Development of a system of quantitative control standards
Building a monitoring system for indicators included in financial controlling.
4.1. Definition of the Controlling object.
The object of financial controlling in LLC "Dominus" is the implementation of management decisions on the main aspects of the financial activities of the enterprise.
4.2. Definition of types and scope of controlling.
In accordance with the concept of building a controlling system, it is divided into the following main types:
strategic controlling;
current controlling;
operational control.
Each of the listed types of controlling should correspond to its specific scope and frequency of implementation of its functions.
Table 1 shows the main characteristics certain types financial controlling in the enterprise.
Table 1
Characteristics of certain types of financial controlling in the enterprise
4.3 Formation of a system of priorities for controlled indicators
Dominus LLC annually approves controlled indicators as strategic parameters of financial controlling. The list and ranking of controlled indicators is periodically (monthly, quarterly) reviewed by the chief accountant.
Currently, the most significant for the activities of Dominus LLC are the following indicators: profit, revenue, costs of the enterprise as a whole and expenses for departments separately.
table 2
The system of controlled indicators of financial controlling in Dominus LLC
4.4 Development of a system of quantitative control standards
Each given controlled indicator corresponds to a standard (quantitative or relative). Quantitative standards can be stable or flexible.
The system of quantitative control standards is developed by the chief accountant and approved by the director of Dominus LLC.
4.5. Building a monitoring system for indicators included in financial controlling.
Building a monitoring system for controlled financial indicators covers the following procedures:
Building a system of informative reporting indicators for each type of financial controlling
Development of a system of generalizing (analytical) indicators reflecting the actual results of achieving the specified quantitative control standards
Determination of the structure and indicators of forms of control reports (reports) of performers
Determination of control periods for each type of financial controlling and each group of controlled indicators.
The determination of the size of deviations of the actual results of controlled indicators from the established standards is carried out both in absolute and in relative indicators. Determination of the criterion of "critical" deviations, which can be differentiated by control periods.
Identification of the main causes of deviations of the actual results of controlled indicators from the established standards is carried out for the enterprise as a whole and for individual "responsibility centers".
The monitoring system of Dominus LLC is adjusted by the chief accountant when changing the goals of financial controlling and the system of indicators current plans and budgets.
The form of the report, which can be generated monthly and quarterly for the enterprise as a whole, is presented in Table 3.
This report form includes all the necessary data for monitoring in the financial controlling of Dominus LLC. Operational information coming from this report allows you to see deviations in time and take measures to eliminate them.
Table 3
Control report form in Dominus LLC
5. Formation of a system of action algorithms to eliminate deviations.
5.1. The system of actions for working with deviations in Dominus LLC consists of three algorithms presented in Table 4.
Table 4
The system of action algorithms to eliminate deviations in Dominus LLC
5.1.1. "Do nothing" - when the size of negative deviations is significantly lower than the planned "critical" criterion.
5.1.2. "Remove deviation" - when the size of negative deviations is close to or greater than the planned "critical" criterion.
In this case, a procedure is provided for the search and implementation of reserves to ensure the fulfillment of target, planned or standard indicators in the context of various aspects of financial activity and individual financial transactions (savings, a system of financial reserves).
5.1.3. "Change the system of planned or standard indicators." In this case, proposals are made to adjust the system of target strategic standards, indicators of current financial plans or individual budgets. In some critical cases, a proposal to terminate individual production, investment and financial operations and even the activities of individual cost and investment centers can be justified.
Regulations on the department of the automated control system of Dominus LLC
1. General Provisions
1. The department of automated production control system is independent structural unit Society.
2. The department is created and liquidated by the order of the director of Dominus LLC.
3. The department reports directly to the technical director of Dominus LLC.
4. The department is headed by a chief appointed to the position by order of the director of Dominus LLC.
5. Employees of the department of automated production control system are appointed to positions and dismissed from positions by order of the director of the enterprise on the proposal of the head of the department.
6. In its activities, the department is guided by:
6.1. The company's charter.
6.2. The present position.
2.1. Form and maintain a modern automated control system.
2.2. Maintain control automation and software constantly in working order. Ensure that all employees of Dominus LLC have created best conditions to automate work processes.
2.3. Constantly improve the automation of work processes, in agreement with the director, upgrade the technical equipment and update the software.
2.4 Save work time employees and enterprise funds, by automating work processes in all areas where possible.
3. Functions
3.1. Management of the development and implementation of projects to improve production management based on the use of a combination of economic and mathematical methods, modern means computer technology, communications and communication and elements of the theory of economic cybernetics.
3.2. Study of management systems, order and methods of planning and regulation of production in order to determine the possibility of their formalization and the feasibility of transferring the relevant processes to an automated mode.
3.3. Analysis and study of the problems of servicing automated control systems for an enterprise and its divisions.
3.4. Participation in the compilation terms of reference on creation of automated production control systems.
3.5. Preparation of plans for the design and implementation of automated production management systems and control over their implementation.
3.6. Definition of tasks, their algorithmization, coordination of organizational and technical support of all automated production control systems.
3.7. Organization of work to improve the workflow at the enterprise (determination of input and output documents, the order of their input and output, reception and re-formation, transmission through communication channels, optimization of documents, rationalization of the content and construction of documents that meet the requirements of an automated production management system and convenience for the work of the relevant performers ).
3.8. Development and design of technological schemes for processing information for all tasks of an automated production control system and technological processes information processing with the help of computer technology.
3.9. Management of the development of instructions, methodological and regulatory materials related to information support for automated production control systems (coding of raw materials, materials, finished products, parts, assembly units, preparation of the necessary reference books, decoders, etc.).
3.10. Organization of a subsystem of reference information.
3.11. Ensuring the correct transfer of source data to machine media.
3.12. Installation, debugging, experimental verification and commissioning of a complex of technical means of automated production control systems.
3.13. Ensuring the smooth functioning of the system and taking prompt measures to eliminate violations that occur during operation.
3.14. Control over the timeliness of receipt of primary documents provided by the system, the correctness of their execution, the transfer to the relevant departments of information processed using computer technology.
3.15. Analysis and accounting of system failure cases.
3.16. Development and implementation of measures to improve the quality and reliability of automated production control systems.
3.17. Modernization of applied technical means.
3.18. Improving the organization and methods of preparing tasks for algorithmization in order to reduce the time and cost of designing automated production control systems.
3.19. Provision of methodological assistance to the divisions of the enterprise in the preparation of initial data for automated production control systems.
4.1. The department of automated production control system has the right to:
4.1.1. Give instructions to the heads of the technical departments of the enterprise on the operation of automated production control systems.
4.1.2. Participate in the overall planning of the enterprise.
4.1.3. Demand from the heads of all structural divisions:
Implementation of instructions, methodological and regulatory materials related to information support of automated production control systems;
Provision of primary documents provided by the automated system, the correctness of their execution;
Providing other information necessary for the work of the department;
5. Relationships (service relations)
To perform functions and exercise rights, the department of an automated production control system interacts:
5.1. With directors of directions and heads of departments on obtaining:
applications for the development of workflow automation;
reports on compliance with the technology of using the automated system and software;
proposals for improving the automated control system.
5.2. With directors of directions and heads of departments on the provision of:
instructions on making changes to the technology of using an automated control system;
expert evaluation of proposals for automation of work processes;
consultations on the application of an automated control system.
5.3. WITH financial and economic receiving department:
approved plans for financing activities for the introduction of automated control systems;
savings tips; assessments of the economic efficiency of the use of an automated control system;
applications for software products and automation of accounting and analysis processes.
5.4. With the financial and economic department for the provision of:
plans for the introduction of an automated control system;
information necessary for the economic analysis of the automated control system;
5.5. With accounting for receiving:
5.6. With accounting for the provision of:
necessary software upgrades.
5.7. With the legal department for obtaining:
methodological assistance in the development of new types of contracts and documents;
information about changes in legislation governing commercial matters;
clarification of the current legislation and the procedure for its application;
consultations on non-standard commercial situations.
5.8. With the legal department for the provision of:
draft contracts for legal review and approval;
applications for the search for the necessary regulatory legal documents and clarification of the current legislation.
5.9. Controlled by economic support for questions about receiving:
vehicles on the basis of submitted applications;
means and equipment for the logistics of the department, furniture, office equipment, communications equipment for equipping workplaces.
5.10. With the management of economic support for the provision of:
applications for motor transport services;
repair requests office space, water supply, sewerage, electrical equipment;
applications for furniture, office equipment, communication facilities.
6. Responsibility
6.1. The head of the department is responsible for the quality and timeliness of the functions of the department of the automated production control system.
6.2. The head of the automated production control system department is personally responsible for:
6.2.1. Compliance with current legislation in the process of managing the department.
6.2.2. Compilation, approval and presentation of reliable information on the process of introducing automated production management systems.
6.2.3. Timely and quality execution of instructions from the management.
6.3. The responsibility of employees of the department of automated production control system is established by job descriptions.
The developed Regulation on Financial Controlling will increase the efficiency of Dominus LLC's anti-crisis management activities, since contributes to the strengthening of control at significant moments of financial activity, the prompt identification of deviations and the adoption of effective management decisions.
So, in Fig.3.2.1. the achievements of LLC "Dominus" in the implementation of the controlling system are presented.
As can be seen from fig. 3.2.1, the introduction of a controlling system in the near future will allow Dominus LLC to ensure cost control, increase profits, and therefore strengthen financial stability enterprises.
Rice. 3.2.1. Achievements of LLC "Dominus" in the implementation of the controlling system
Quantitative calculation of the economic effect from the introduction of the controlling system in the field of anti-crisis management of Dominus LLC is presented in Table 3.2.1.
The introduction of controlling into the anti-crisis management system of Dominus LLC will allow tracking the actual costs within the planned indicators.
Table 3.2.1
Calculation of the economic effect from the introduction of a controlling system in the field of anti-crisis management of Dominus LLC (thousand rubles)
It can be assumed that the fact exceeded the planned values at the level of 10%, which is acceptable in the activities of enterprises. Therefore, the author of the work took into account the actual costs exceeding the planned ones by 10%, which amount to 296,766.8 rubles. Income from the implementation of controlling in the field of financial recovery of Dominus LLC is 50,962.2 thousand rubles.
The annual costs of Dominus LLC associated with the implementation of controlling in the field of financial recovery amount to 288 thousand rubles.
The effect of the introduction of controlling in the field of financial recovery of Dominus LLC is 50,674.2 thousand rubles.
Thus, the introduction of a financial controlling system at an enterprise can significantly increase the efficiency of the entire process of planning its financial activities.
The complexity of processing detailed information on cost centers is enormous, it is difficult to process it manually; economists immediately demand to automate their work, since for them work in the controlling system is a big additional burden - even if the collection of planned and actual information occurs once a month. If you decide to collect factual information once a week, then the unit will not physically have time to process and provide information, and the chief accountant will not have time to summarize all the data on the enterprise. Therefore, if the processing of postings and account balances, or depreciation, or payroll is automated, it is also advisable to automate controlling work. This is due to the need to automate the implementation of management functions based on the introduction into practice of automated workplaces of accounting and analytical workers, employees of the apparatus based on the use of modern information technologies and technical means.
Thus, the introduction of the regulation on financial controlling implies, as a tool for the financial recovery of Dominus LLC, the introduction of a staff unit - the department of the automated control system and, accordingly, the development of another internal document - the regulation on the department of the automated control system.
The introduction of a full-time department - the department of an automated control system and the Regulations on this department in the aspect of financial recovery of Dominus LLC will contribute to the creation and development of an integrated automation system that ensures coverage of all planning areas, reflect it (him, them) in operational, tax and accounting records .
The costs of introducing this department will consist in recruiting employees and acquiring and using a software package, which in total is an insignificant cost - however, they will automate the process of financial controlling in Dominus LLC, thereby affecting its quality and efficiency.
Thus, the regulation on the department of the automated control system of Dominus LLC allows through a regulated automation system in financial controlling:
link budget management, operational planning and accounting in one information system;
promptness of data provision;
improvement of the process of making managerial decisions in the system of financial controlling.
It should be noted that the activities included in the plan for the development of anti-crisis management of Dominus LLC require structural and functional changes in the organizational structure of Dominus LLC (Fig. 3.2.2).
Rice. 3.2.2. Proposed organizational structure OOO "Dominus"
In Fig.3.2.2. the updated organizational structure of Dominus LLC is presented in connection with the introduction of a commission for anti-crisis management and an automated system department.
Thus, the introduction of such changes in the organizational structure of Dominus LLC, as the addition of anti-crisis management functions to the executive director, the creation of an anti-crisis management commission and an automated system department, will make it possible to include the anti-crisis management direction in the overall enterprise management system as a whole, thereby maintaining a balance internal and external environment (internal competitiveness - position in a competitive environment).
The effectiveness of the developed provisions aimed at improving the anti-crisis management of Dominus LLC is determined by strategic financial planning, which makes it possible to compare various options for anti-crisis management, to prevent the negative consequences of the implementation of anti-crisis procedures.
Action plan for the development of anti-crisis management;
Regulations on the Commission for Anti-Crisis Management;
Regulations on financial controlling;
Regulations on the automation system in financial controlling.
Anti-crisis management is a whole complex of interrelated activities from early diagnosis of a crisis to measures to overcome it, i.e. the essence of anti-crisis management lies in a set of measures to predict, identify, prevent and eliminate crisis phenomena in the enterprise.
Anti-crisis management is based on the principles that distinguish anti-crisis management from the usual one: the principle of early diagnosis of crises in an enterprise; the urgency of responding to crisis phenomena, the adequacy of the enterprise's response to the degree of a real threat to its financial balance, the full realization of the internal possibilities for the enterprise to exit the crisis. In anti-crisis management, the following functions are distinguished: pre-crisis management, crisis management, management of crisis recovery processes, stabilization of unstable situations, minimization of losses and missed opportunities, timely decision-making.
In the practice of anti-crisis management, a rich methodological base has been developed, which is divided into two large groups of methods: diagnostic and aimed at overcoming the crisis, which, in turn, are internally divided into a number of specific methods.
The bankruptcy procedures of an enterprise include the provisions regulated in the federal law of October 26, 2002 N 127-FZ “On insolvency (bankruptcy)”: observation; financial recovery; external management; competitive production; world agreement.
In this thesis Dominus LLC, an enterprise engaged in the repair of electrical equipment, was investigated.
The analysis of the financial and economic activities of Dominus LLC for 2007-2009. made it possible to identify such problematic issues as a low share of equity, an increase in the amount of borrowed funds, an increase and a significant specific gravity receivables, low solvency.
During the study, a SWOT analysis was carried out, which considers the internal strengths and weaknesses of the enterprise and external opportunities and threats. Also, with the help of a survey and a questionnaire, the results of expert assessments of the use of anti-crisis measures and methods and their effectiveness were obtained.
As a result of the SWOT analysis and the obtained expert assessments, the main problems of the activities of Dominus LLC were identified, which include weak financial control and the lack of automation of information flows for making managerial decisions. Thus, the identified problems form the directions of activity of Dominus LLC for the development of anti-crisis management.
As proposals for improving anti-crisis management, Dominus LLC developed a set of documents, which included:
Action plan for the development of anti-crisis management of Dominus LLC for 2010;
Regulations on the Commission for Anti-Crisis Management;
Regulations on financial controlling;
Regulations on the automation system in financial controlling.
The activities included in the action plan for the development of anti-crisis management of Dominus LLC require structural and functional changes in the organizational structure of Dominus LLC, such as the addition of anti-crisis management functions to the executive director, the creation of an anti-crisis management commission and an automated system department, which in as a result, it will allow to include the direction of anti-crisis management in the overall enterprise management system as a whole, thereby maintaining the balance of the internal and external environment (internal competitiveness - position in a competitive environment).
These proposals will improve the efficiency of the anti-crisis management process of Dominus LLC, namely: to ensure cost control, increase profits, strengthen the financial stability of the enterprise, improve the quality of the anti-crisis management process.
List of used literature
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3. Civil Code of the Russian Federation. Part two: Federal Law of the Russian Federation of January 26, 1996 No. 14-FZ.//Collected Legislation of the Russian Federation. - 1996. - No. 5. - Art. 410.
4. Labor Code of the Russian Federation: Federal Law of the Russian Federation of December 30, 2001 N 197-FZ (as amended on November 25, 2009) // Collection of Legislation of the Russian Federation. - 2002 N 1 (part 1) - art. 3; 2009 - N 30 - Art. 3732, art. 3739.
5. Federal Law No. 127-FZ of October 26, 2002 (as amended on July 19, 2009) “On Insolvency (Bankruptcy)”.
6. Addendum to the order of the FSFR of the Russian Federation dated January 23, 2001 No. 16 “On approval of the “Guidelines for analyzing the financial condition of organizations”.
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Appendix
“Methods of anti-crisis management used in OOO “Dominus” You are presented with the methods used in anti-crisis management. Please fill in columns 2 and 3.
Points to fill in column 2: 3 - always 2 - often 0 - never |
Points for filling in column 3: 5 - effective; 4 - good; 3 - satisfactory; 2 - inefficient |
||
| Methods | Frequency of use in the practice of anti-crisis management | Efficiency mark | |
| environmental monitoring | |||
| system analysis of signals about possible changes in the state and competitive status of the company | |||
| financial audit | |||
| analysis of the company's credit policy and debt | |||
| risk identification | |||
| assessment of the current state of the organization and forecasting of its possible states in the future | |||
| use of know-how | |||
| brand positioning | |||
| optimization of personnel work | |||
| fight for quality | |||
| price policy | |||
| cost reduction | |||
| increase in cash flow | |||
| restructuring of accounts payable | |||
| determination of the organization's development strategy | |||
| carrying out reorganization or restructuring of the enterprise. | |||
The term “crisis management” is relatively recent. It is believed that the reason for its appearance is the reform of the Russian economy and Russia's entry 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. Such management is called "anti-crisis".
There are many definitions of anti-crisis management in the economic literature. One of them: anti-crisis management - such an enterprise management system that has a complex, systemic nature and is aimed at preventing or eliminating adverse events for business through the use of the full potential of management, the development and implementation of a special strategic program at the enterprise that allows to eliminate temporary difficulties, save and increase market positions under any circumstances.
In an organization at any stage of its development, there is a danger of a crisis even when the crisis is not observed, when it actually does not exist. This is determined by the fact that in management there is always a risk that the socio-economic system develops cyclically, that the ratio of managed and unmanaged processes changes, a person, his needs and interests change. Therefore, according to a number of modern Russian authors, the management of the socio-economic system to a certain extent should always be anti-crisis. Hence, anti-crisis management can be defined as management in which the prediction of the danger of a crisis is set in a certain way, the analysis of its symptoms, measures to reduce the negative consequences of the crisis and the use of its factors for subsequent development.
From positions strategic management anti-crisis management does not begin with an analysis of the balance sheet of an enterprise and the implementation of emergency measures to prevent insolvency, but from the moment the mission and goals of the enterprise are determined, maintaining a strategic potential capable of providing a competitive advantage for an enterprise for a long period both in the domestic and foreign markets. Then crisis management is:
- - analysis of the state of the macro- and microenvironment and the definition of the mission of the enterprise;
- - study of the economic mechanism of the emergence of crisis situations and the creation of a system for scanning the external and internal environments of an enterprise in order to early detect "weak signals" about the threat of an approaching crisis;
- -strategic controlling of the enterprise and development of a strategy to prevent its insolvency;
- - prompt assessment and analysis of the financial condition of the enterprise, and identification of the possibility of insolvency (bankruptcy);
- -development of a preferred policy of behavior in the conditions of the onset of the crisis and the withdrawal of the enterprise from it;
- - constant consideration of the risk of entrepreneurial activity and the development of measures to reduce it.
Such an interpretation of the essence of anti-crisis management determines its preventive, anticipatory orientation.
- - preliminary diagnosis of the causes of a crisis situation at the enterprise;
- - analysis of the external environment and the potential of the competitive advantages of the enterprise to select a strategy for its development;
- - business planning for increasing competitive advantages and financial recovery of the enterprise;
- - development of procedures for the financial recovery of the enterprise and a system for monitoring their implementation.
It is more correct to consider anti-crisis management as a system that has the following elements:
- - crisis forecasting;
- - crisis prevention;
- - overcoming the crisis;
- - withdrawal of the enterprise from the crisis;
- - neutralization of the consequences of the crisis.
The essence of anti-crisis management lies in the targeted impact on the enterprise in order to prevent bankruptcy in a timely manner, or when an enterprise enters a crisis state - in its timely withdrawal from the crisis.
Hence, anti-crisis management is a system of management measures for diagnosing (a), preventing (b), neutralizing (c) and overcoming crisis phenomena and their causes at all levels of the economy (“four Ms” - micro-, meso-, macro- , world levels). This definition is the most comprehensive, comprehensive, which we will take as a basis.
In the definition given above, any active impact on the economy in order to ensure its effective functioning refers to anti-crisis management. But then what is the difference between the most important economic disciplines (financial analysis, strategic and tactical planning, marketing, investment, management, etc.) and crisis management?
Crisis management includes all these disciplines, modifying, transforming and combining them accordingly into single system on the basis of one criterion: diagnostics, prevention, neutralization, overcoming the crisis. Of course, anti-crisis management differs significantly from traditional enterprise management, has its own specifics, which is associated with significant changes in the conditions of enterprises, as well as with the unpredictability of the situation and new management problems. In a crisis, crisis tendencies or their consequences for a certain period, the goals of the enterprise may change. There is also the factor of time allotted by law to exit bankruptcy and pay off debts.
In terms of organizing resources to achieve the goal, a more flexible structure of resource allocation is required in accordance with anti-crisis priorities. In times of crisis, sometimes the organizational structure of management is required to change on the go in accordance with changes in the external environment. Unlike traditional management, anti-crisis management often comes to the fore with unpredictability in actions, the lack of a clear distribution of functions between participants for a long period. There are also factors such as inaccurate or insufficient information. Under the conditions of anti-crisis management, motivations for more persistent and selfless work in order to overcome temporary difficulties increase, therefore, new, sometimes extraordinary incentive systems and leadership styles come into force.
The term crisis management can be used in two senses - in a broad and narrow sense.
In a broad sense, the definition of crisis management is given above. In general, this is the system management of one or another object of management at one or another level of the economy, from the point of view of counteracting the crisis.
In a narrow sense, anti-crisis management is a system of organizational and managerial measures in relation to an individual enterprise that has fallen into a state of crisis, which is usually expressed in insolvency, which, in the event of its protracted irresistible nature, is neutralized through bankruptcy proceedings. In practice, bankruptcy is the result of the development of a crisis financial condition of an enterprise - when it goes from episodic to sustained inability to meet the requirements of creditors, including mandatory payments to the budget and extra-budgetary funds. In this case, the company goes through the procedure of liquidation, sale of its property and settlement with creditors (bankruptcy procedures).
For anti-crisis management in the narrow sense, the establishment of the fact of the financial insolvency of the enterprise is of great importance. The official establishment of such a fact is regulated by law. Various measures of influence can be applied to an insolvent enterprise financially:
- 1) change of ownership, including forced privatization;
- 2) appointment by arbitration of an outside manager (temporary, administrative, external, competitive);
- 3) putting a part of the property up for auction;
- 4) putting the enterprise to the investment competition;
- 5) attraction of loans under guarantees (Federal Center, administration of subjects of the federation, reliable banks, etc.);
- 6) transfer of the enterprise to trust management;
- 7) reorganization of an enterprise (disaggregation into separate enterprises, affiliation with another enterprise or corporation, merger of several enterprises);
- 8) liquidation of the enterprise.
At the meso and macro levels of the economy, appropriate organizational and managerial measures are taken to counter the crisis. Thus, at the macro level, states with a mixed system of economic management (first of all, the industrialized countries of the West) widely use a whole range of measures of state regulation of the economy, which is anti-crisis management at the macro level.
According to some established approaches in Russia, anti-crisis management is a function, or rather, an obligatory component of bankruptcy. It should be borne in mind that it is bankruptcy that is most fully described in the relevant regulatory and legislative documents. We emphasize that the theory and practice of anti-crisis measures or anti-crisis management are especially relevant in Russia, where, due to the current stable crisis of non-payments, the vast majority of enterprises easily fall under the criteria for declaring them bankrupt. A dual situation arises when, on the one hand, it is a tempting idea to eliminate bankrupt business structures from the market, as the main condition for the effective functioning of the market, and, on the other hand, to prevent bankruptcy to ensure the continued existence of the enterprise, which is a much more complex and important task. This is precisely the problem that crisis management should solve.
To implement the tasks of bankruptcy, the state forms special bodies executive power engaged in issues of impact on crisis enterprises. In Russia, a special body "Federal Service for Financial Recovery and Insolvency" (FSFO) has been created with an extensive network of territorial services.
The system of anti-crisis regulation measures is implemented through the FSFR, which is entrusted with the following functions:
Consideration of the economic and financial condition of enterprises that have signs of insolvency, preparation of recommendations for their elimination;
applying to the arbitration court with an application for declaring the debtor enterprise insolvent (bankrupt) and submitting a petition for external management of the property of the debtor enterprise, for its sanitation;
- - determination of the conditions and criteria for the competition and organization of the competition for the appointment of an arbitration manager;
- - making decisions on the voluntary liquidation of the debtor enterprise, organizing work to assess the value of the debtor enterprise's assets;
- - disposal of funds allocated from the budget and extra-budgetary funds for the reorganization, rehabilitation and liquidation of debtor enterprises.
In a relationship state enterprises The FSFR can take anti-crisis measures (from financial assistance to sale at auction and liquidation) even without a decision of the arbitration court. For a private enterprise (or an enterprise based on the group (collective) ownership of individuals), all possible anti-crisis measures can be taken only in accordance with the decision of the arbitration court or on the basis of a voluntary agreement between the crisis debtor enterprise and its creditors.
The very influence of the state on crisis enterprise already involves the interaction of macro- and micro-levels of the economy, in connection with which anti-crisis management, carried out even in relation to a single enterprise, cannot be attributed exclusively to the micro-level of the economy. In addition, the interaction of an insolvent enterprise with its creditors belongs to the meso-level of the economy. At the same time, the central link in the impact of the state on an insolvent enterprise is precisely it, i.e., this impact is carried out mainly at the micro level, in conjunction with the macro and meso levels of the economy.
One more essential part anti-crisis management: the efforts of the state are concentrated mainly at the macro level, but at the same time it is necessary to develop anti-crisis macroeconomic measures also in terms of their impact on the micro and meso levels of the economy.
The third most important part of anti-crisis management by the state is aimed at the meso-level of the economy. But at the same time, it is also necessary to take into account how the anti-crisis measures of the state at the meso-level of the economy will affect its micro- and macro-levels. For example, the problem of the huge growth of mutual non-payments of enterprises belongs to the meso-level of the economy and, accordingly, requires the state to act precisely at this level. However, this problem itself and its anti-crisis management decisions also have clearly defined micro- and macroeconomic dimensions.
The process of implementing anti-crisis procedures in relation to the activities of debtor enterprises is called the anti-crisis process.
The anti-crisis process is implemented using a system of anti-crisis management methods and anti-crisis procedures in relation to the activities of debtor enterprises. In the current Law, the entire set of procedures applied to debtor enterprises (anti-crisis management) is divided into two main groups: 1) bankruptcy prevention procedures and 2) liquidation procedures.
- 1) Bankruptcy prevention procedures include:
- - pre-trial sanitation;
- - observation;
- - administrative management,
- - external control.
The main purpose of these procedures is to ensure the company's exit from the crisis and its solvency.
Thus, the main difference between all bankruptcy prevention procedures is that their application does not entail the termination of the activities of debtor enterprises. the main task here - to ensure the withdrawal of the enterprise from an insolvent state and its normal functioning.
2) Liquidation procedures include: forced liquidation of the debtor enterprise by decision of the arbitration court; voluntary liquidation of an insolvent enterprise under the control of creditors.
Unlike preventive liquidation procedures lead to the termination of the activities of enterprises. Liquidation procedures reflect the content of bankruptcy in the narrow sense of the word, understood only as the liquidation of insolvent enterprises.
The totality of prevention and liquidation procedures is bankruptcy in the broad sense of the word. All this set of bankruptcy procedures in the broad sense of the word is defined as anti-crisis procedures.
Actually bankruptcy procedures (bankruptcy in the narrow sense of the word) are integral part anti-crisis procedures.
Thus, bankruptcy, like any other economic and legal institution, should be considered as a tool for achieving certain goals of the state's economic policy. The economic meaning of the institution of bankruptcy lies in the fact that this institution should serve as a mechanism for establishing a more efficient regime for managing production resources at the level of economic units - enterprises.
It follows that, in reality, bankruptcy is inherently not a destructive, but a constructive measure, aimed primarily at restoring the normal operation of an enterprise. Only those material resources and their management structures that, in principle, cannot be effectively used (for example, make a profit) should be eliminated.
The main characteristic of any economic system, and at the same time the goal-setting of the control action on it, is the efficiency of using production resources(natural, labor, capital) at the disposal of this system. This is true both for the state as a whole and for a particular enterprise. The effectiveness of any system can only be assessed in relation to the purpose for which the given function is performed. The criterion for the effectiveness of the functioning of the system is the degree (probability) of achieving the goals set for it. Each organization chooses ways and means of achieving effective activity depending on the development goals and situational features of its functioning.
The criterion for the effectiveness of anti-crisis management is the degree of achievement of the goals of mitigation, localization or positive use of the crisis in comparison with the resources spent on it.
Depending on the stage of the crisis in which the enterprise is located, appropriate goals are set, and, consequently, performance criteria. So, in the implementation of external management, the criterion of effectiveness is the restoration of the solvency of the enterprise, and in bankruptcy proceedings, the satisfaction of creditors' claims through the sale of the bankruptcy estate of the debtor.
The history of the formation and development of a market economy in many countries indicates that the uneven process of its functioning, fluctuations in production and sales, the occurrence of deep declines in production, which is characterized as a crisis situation, should be considered as a kind of general pattern. This pattern is closely linked to the specific nature of the life cycle of an enterprise (Appendix 1) .
A feature is that crisis situations arise at all stages of the life cycle of an enterprise. The implementation of the entire set of anti-crisis procedures (bankruptcy in the broad sense of the word) begins at a certain stage of the life cycle: in a sharp decline, which is usually characterized by the insolvency of the enterprise. At the same time, anti-crisis management measures that are outside the scope of bankruptcy procedures and are designed to neutralize the consequences of crisis situations are applied at all stages of the company's life cycle.
Accordingly, anti-crisis management covers all stages of the development of the crisis process, including its prevention.
Anti-crisis management of an enterprise consists of a complex of subsystems. Each subsystem of anti-crisis management corresponds to a certain subsystem of managing a normally functioning enterprise. At the same time, each management subsystem in relation to a healthy enterprise is modified in a certain way from the standpoint of prevention or overcoming crisis phenomena.
For example, the subsystem of marketing management of a healthy enterprise corresponds to the subsystem of anti-crisis marketing management of an insolvent enterprise.
At the same time, the vast majority of marketing methods, types of marketing strategies and tactics applicable to a healthy enterprise are also applied to an enterprise in crisis, but with certain modifications, additions, etc., taking into account the need for prevention and overcoming crisis phenomena.
In view of the foregoing, let us outline the main subsystems of anti-crisis management of an enterprise.
- 1. A subsystem for diagnosing and predicting the financial condition of an enterprise in unity with an assessment of the technical and technological parameters of production, taking into account moral and physical wear and tear. Early diagnostics of crisis phenomena at the enterprise is important, which allows to carry out an anti-crisis impact on it faster, and with less losses. Even more effective is the forecasting of possible crisis phenomena and conditions, which makes it possible to take preventive measures and generally avoid crisis processes.
- 2. Marketing subsystem, which includes the development of an anti-crisis marketing strategy and tactics both in relation to the profile of the enterprise as a whole, and in relation to specific types of products.
- 3. The subsystem of the anti-crisis investment policy, which includes the development of an effective investment program in several sections at once:
- a) technical and technological feasibility and effectiveness of investment projects;
- b) their financial payback and profitability;
- c) finding sources of financing and investors, including by obtaining a guarantee for borrowed funds from sufficiently powerful and reliable economic structures or authorities.
- 4. Personnel management subsystem (involves the renewal of part of the staff, advanced training of employees, changes in the personnel management system, the development of more effective incentives and sanctions, the improvement of labor and especially technological discipline, the creation of a favorable socio-psychological climate in the workforce).
- 5. Subsystem of production management, which covers the management of the technical and technological side of production.
- 6. Subsystem of financial and economic management, covering the management of financial resources and cash flows of the enterprise. This subsystem is closely connected with the subsystem of financial diagnostics.
- 7. A subsystem of organizational and managerial measures for the liquidation of an enterprise, which exists under normal economic conditions only as an opportunity. However, if the enterprise becomes bankrupt and there is no way to improve it, this subsystem turns from potential into real; the legal side of the operation of this system is thoroughly spelled out in the Law on the insolvency (bankruptcy) of the enterprise. The basis of the operation of this subsystem is the sale of the property of the enterprise at market prices and the repayment of its debts at the expense of the proceeds from the sale in accordance with the sequence established by law.
Constant changes in the structure of the market and a difficult economic situation increase the risk of instability in the enterprise, which often leads to it. It is possible to avoid negative consequences and extend the life of the organization with the help of anti-crisis measures.
Essence and functions of anti-crisis management
Anti-crisis management is a complex management system aimed at preventing and eliminating the financial crisis of an organization, and eliminating its negative consequences.
The main goal of making anti-crisis management decisions is to restore the activities of an enterprise that has suffered from unfavorable economic circumstances.
On the way to achieving this goal, anti-crisis management performs a set of such tasks:
- timely diagnostics and identification weaknesses in the economy of the enterprise;
- Training to a crisis situation (capital accumulation, saving resources, reducing purchases and freezing reserves);
- Prevention crisis situation;
- and solving the problem of insolvency to employees, shareholders and creditors;
- Restoring Economic Resilience and establishing a strong position in the market;
- Taking preventive measures to avoid declaring or ;
- Elimination of consequences and compensation for damage;
- Organization post-crisis activities company, which should be built taking into account the factors and circumstances that led to negative consequences.
Objects of anti-crisis management companies, organizations and enterprises affected by financial problems. Also, anti-crisis measures are provided for by the legislation in relation to regional, municipal and regional structures.
Subjects of anti-crisis management– owners and specialists who develop and implement a set of measures.
Enterprise financial crisis- a local threat to the economic stability of the enterprise, during which internal and external debt grows, solvency decreases and the threat of bankruptcy and liquidation of the company increases.
The essence of anti-crisis measures is expressed in the following provisions:
- Crisis situations can be prevented, accelerated or caused artificially;
- The crisis can be suspended, postponed or accelerated;
- The financial impact on the company can be minimized;
- Company destruction processes can be managed by management:
- The company must be prepared for any unforeseen adverse situations.
Basic techniques
The way out of the crisis can be carried out by the following methods:
- Cost cutting - a necessary measure, which is to optimize the company's costs - the dismissal of staff; reduction of salaries; optimization of labor resources; reduction in the product range; replacement of raw materials with cheaper analogues, etc.;
- Fundraising – any property that is at the disposal of the company can be sold or leased for additional income. The sale of securities, real estate is capable of bringing money to the company; change in credit policy and optimization of sales;
- Debt restructuring - a set of negotiations with creditors in order to obtain concessions and deferrals, allowing to reduce official obligations;
- Drawing up a new strategic development plan - the company must adapt to new conditions and optimize its functionality as much as possible;
- Company reorganization - cardinal changes in the structure and activities of the organization, which entail changes in all areas: sales, management and foreign policy.
Cutting costs is not the best way out of the situation, since a decrease in the quality of goods and services leads to a drop in sales and further ruin of the company.
It is much more efficient to look for new sources of funding and carry out strategic improvement activities.
Anti-crisis personnel management
In conditions of financial difficulties, it is important to stimulate employees, because it is their efforts that can revive and regenerate a failed system.
Personnel Management– a complex of organizational and educational activities, aimed at recruitment, redistribution, advanced training and incentives by assigning incentive bonuses and bonuses.
During a crisis situation, the task of a specialist or manager is not only to organize the work of personnel, but also to provide him with psychological support. It is important to create a favorable atmosphere for the team and adapt employees to the new operating conditions of the enterprise.
The personnel policy should also be focused on attracting young qualified personnel and on early release from duties of employees, which do not fit into strategic plan development of the company and may hinder it.
Despite the fact that the personnel policy should be unified and fair for all employees, it should also be multi-level in order to cover all layers and groups.
The multilevel system consists of the following subsystems:
- Recruitment and accounting of personnel;
- Control labor relations within the team - the company should be aimed at a strategic result and work in one direction. The disagreement of the parties leads to conflicts that undermine the workflow;
- Optimization of labor resources - in difficult conditions, the company cannot afford additional staff performing minor or unnecessary work;
- Ensuring optimal working conditions;
- Information support and staff training - the team must be aware of new circumstances and easily adapt to the realities;
- Control social development– control and improvement of the internal climate at work.
Working for the future and development of the company, a competent manager is obliged to develop a system of criteria and determine the qualities that an employee should possess.
Based on this data, the new positions needed to support the new course of development are compiled.
Anti-crisis financial management
Measures to eliminate financial problems depend on the stage of development of the crisis.
At the first stage there is a drop in profitability and sales volumes, which entail financial losses.
Solution: improving the quality of labor and reducing the cost of production, and related services.
At the second stage production crosses a critical point and goes negative.
Solution: reorganization and strategic decision making.
At the third stage the company is losing its own resources, and reserve funds are at zero, because all the earnings go to repay external debts to creditors.
Solution: debt restructuring.
At the fourth stage development of the financial crisis, the only way out is to declare bankruptcy.
Examples of anti-crisis management of an enterprise
Consider an example of a way out of a crisis situation on Ford enterprise. In 2009, the company faced a number of difficulties:
- Conflicts within the company;
- Decrease in the level of confidence on the part of buyers;
- Rising prices for oil and components;
- High growth of competition;
- Economic crisis;
- Selling part of the shares to competitors.
The difficult situation at the enterprise led to a wave of strikes demanding a 30% increase in wages. The company decided to partially meet this requirement by raising rates by 15%, but even such an increase in costs was not affordable for management, and 1,200 workers were laid off the following year.
To stabilize the situation, management took the following measures:
- Reducing bonuses and incentive payments to employees, as well as a significant reduction in the interest rate for auctioneers;
- Solving problems with trade unions, which helped to improve the climate within the enterprise;
- Reducing the retirement age.
To reduce production costs, it was decided to reduce the range, focusing on 4 most requested models, reduce working hours and cut output. In order not to lose product quality, the company has optimized the production process.
Ford not only tried to strengthen its position in the home market, but also found new sales markets - in particular, in the CIS countries, where the dealer network was significantly expanded.
A feature of this set of anti-crisis measures was that the management, despite the difficult economic period, managed to maintain the reputation of a responsible employer that cares about its subordinates. This was achieved thanks to a competent personnel policy and interaction with trade unions, thanks to which it was possible to avoid undermining production from within.
The opposite example is the situation with holding "Rusclimat", which is engaged in the production of engineering parts and equipment. The despotic and disrespectful attitude of the management towards subordinates led to a large drain of valuable personnel and a drop in interest in vacancies in the labor market, despite the fact that salaries and working conditions were at a high level.
This led to the creation of a negative reputation, which also affected sales. Thanks to an effective advertising campaign and a new concept, the company managed to partially regain its good name, until information appeared about the criminal record of one of the leaders.
Rusklimat managed to stay afloat and eliminate some of the negative consequences of the crisis, but notoriety still affects the holding's activities.
Features of anti-crisis management on the example of Eldorado LLC
Eldorado, a popular European appliance retail chain, faced an economic crisis in 2008 when tax services announced debt in the amount of 15 billion rubles. As a result, the organization's reputation has been shaken, banks worth $400 million, and regular suppliers have interrupted cooperation.
Despite the difficulties, Eldorado did not falter financially - a $500 million loan from an international investment group helped in this, which subsequently bought a controlling stake from the owner of Eldorado and became a 100% owner, which it remains to this day.
The new owner of PPF immediately began to apply anti-crisis actions, which were very successful - despite the difficulties, the organization lost only 1% of sales.
The anti-crisis plan consisted of the following actions:
- Change in commodity and transport logistics– the volumes of batches in warehouses were significantly reduced, and the delivery of goods began to take place in small batches, thanks to which it was possible to reduce transportation costs;
- Introduction of the "Sale by Sample" System- the goods are delivered to the buyer from the manufacturer, the company acts as an intermediary, removing the percentage for organizing the transaction - this reduced the waste of storing goods in warehouses, and the company reduced the risks of unsold products;
- Reduced personnel costs- managerial links were cut - the number of subordinates for each manager doubled. Instead of a large staff of managers, it was decided to increase the number of consultants, which increased sales at local points of sale. In total, about 12,000 employees were laid off.
These actions helped to keep the company afloat and remain competitive in the market, but significant mistakes were also made in making managerial decisions.
For example, the organization decided to tighten the conditions for employees, reducing them wages several times and entrust them with additional functions taking time to perform direct duties. Was the reward system has been eliminated(now the amount of earnings did not depend on the level of sales of each individual employee, but was distributed among regional offices).
As a result, a large wave of layoffs own will. Even experienced employees who had worked for more than three years left.
The drop in the level of qualification affected the company's service - sales fell, and the number of returns and dissatisfaction from customers increased significantly. The reason for this is unprofessional advice, which even constant trainings and training programs that Eldorado regularly spends money on are not able to fix.
As can be seen from this example, saving on personnel leads to undesirable consequences: Eldorado has a serious competitor on the market - M.video. There is currently talk of a possible merger between the two organizations or a buyout of Eldorado M.video.
As can be seen from this example, the anti-crisis management system is individual in nature and must take into account the characteristics of a particular enterprise.
Anti-crisis management for small and medium businesses
The examples above are good for a general understanding of crisis recovery strategies, but what should managers of smaller companies know? The video below shows a seminar during which the basic principles of crisis management are explained.
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