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Crisis management of hotel and restaurant business enterprises

Author(s) МАЛЮГА Л. М. , , ,
Category Economics
year 2020 issue Issue number 96. Part 2
pages 131-141 index UDK 338.46
DOI 10.31395/2415-8240-2020-96-2-131-141 (Link)
Abstract The organizational and economic essence of entrepreneurship in the hotel and restaurant sector is associated with the uncertainty of achieving its final results, and therefore with a high risk of business losses. In the practice of their activities, risks are considered as a concomitant unavoidable phenomenon, which under adverse circumstances leads to insolvency – bankruptcy. The interdependence of risk and profit factors creates the need to manage this process and develop a policy for its regulation. The purpose of this article is to study the nature and tools of crisis management in the financial management system of hotel and restaurant enterprises. The theoretical and methodological basis of the study was the provisions of economic theory, modern management theories and economic security of the enterprise, scientific works of domestic and foreign scientists on the problems of management, economic security of enterprises in the hotel and restaurant sector and its assessment. All factors that influence the occurrence of crisis situations can be divided into two large groups: external and internal. The external ones are formed in the environment external to the enterprise, and the internal ones depend on the yogis of organizational activity. The main task of crisis management is to restore balance in the functioning of the institution. At the same time, it should be introduced not at a time of deterioration, but much earlier – especially when the first markers and symptoms of the crisis begin to appear. Depending on the tasks and methods, the diagnosis of the crisis state is divided into two main systems: express diagnostics and fundamental diagnostics. In addition, it was noted that the crisis management of hotel, restaurant and tourism enterprises is characterized by certain features. Thus, only the full implementation of the internal capabilities of the enterprise to overcome the crisis financial state in the early stages of its diagnosis is the most effective. In general, the anti-crisis management policy of the enterprise is part of the overall financial strategy of the enterprise, which consists in developing a system of adoption and methods for preliminary diagnosis of the threat of bankruptcy and launching a mechanism for financial recovery of the enterprise, which provides a way out of the crisis
Key words management, crisis, bankruptcy, diagnostics, hotel and restaurant sphere
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