Modern methods of crisis management and their relevance to the ukrainian business environment

Abstract

The article examines the essence of the concept of "crisis management" proposed by foreign experts in science and journalism. The author discusses the variations in interpretations of the studied concept and highlights the key similarities in the definitions provided by scientists. A comprehensive definition of "crisis management" is proposed, encompassing the key aspects identified by the analyzed authors. The article briefly describes the challenges of the modern Ukrainian business environment caused by the protracted military and political crisis associated with Russia's full-scale invasion of Ukraine. The impact of the Russian military aggression on the Ukrainian economy is analyzed, and the damage caused as a percentage of GDP is described. Today's foremost economic, social, and energy challenges, including the decline in GDP, forced emigration, and the destruction of Ukraine's energy infrastructure, are briefly explored. The author analyses modern crisis management techniques and types, including legal, information and analytical, organizational, managerial, and financial responses to crisis phenomena. The author examines the strengths and weaknesses of each of the types mentioned above and considers their correlation with the national business environment, considering the challenges that Ukrainian business is currently facing, especially in the southeastern part of Ukraine, where the impact of the war is significantly higher than in the right-bank part of the Ukrainian State. It is determined that legal mechanisms did not play a significant role in the beginning of the full-scale invasion of business, i.e., they are poorly correlated with the Ukrainian environment. The information-analytical, organizational, and managerial mechanisms have demonstrated relative efficiency when implemented correctly in activities, both at the enterprise level and within the national economy. The influence of financial crisis management types and their mechanisms is investigated. A conclusion is drawn regarding the alignment of modern crisis management approaches with the challenges of the domestic business environment.