Actual problems of innovative economy and law

Journal "Actual problems of innovative economy and law" is included in category B for specialties: in the field of knowledge "Management and administration": 073, 076 (order of the Ministry of Education and Science of Ukraine dated 23.08.2023 No. 1035) and 071, 072, 075 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543); in the field of knowledge "Social and behavioral sciences" 051 (order of the Ministry of Education and Science of Ukraine dated August 23, 2023 No. 1035); in the field of knowledge "Law" - 081 and "Public management and administration" - 281 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543).
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Economic theory in models of anti-crisis management of enterprise development

# 25 121-125 Download/view the full text of the article

УДК: 330:502.131.1

DOI: https://doi.org/10.36887/2524-0455-2024-1-25

Bulhakova Olena
Candidate of Economic Sciences, Associate Professor, Associate Professor of the Department of State and Legal Disciplines and Public Administration
Donetsk State University of Internal Affairs
https://orcid.org/0000-0002-0893-3732
Huzenko Olena
Candidate of Economic Sciences, Associate Professor, Associate Professor of the Department of Business Law Disciplines and Economic Security
Donetsk State University of Internal Affairs
https://orcid.org/0000-0003-4002-2629
Haponiuk Olha
Candidate of Economic Sciences, Associate Professor, Associate Professor of the Department of Business Law Disciplines and Economic Security
Donetsk State University of Internal Affairs
https://orcid.org/0000-0002-5178-8876

The article investigates the decisive role of fundamental economic theory in the development and implementation of anti-crisis management models for enterprise development. It is substantiated that modern anti-crisis management must transform from a reactive “firefighting” mechanism into a strategic system of proactive renewal grounded in science. The purpose of the article is to identify and analyse the instrumental role of economic theories (cyclicality, innovation, transaction costs, and the resource-based view) in shaping anti-crisis management models that ensure the transition from stabilization to sustainable development. The paper proves that the use of business cycle theory provides models with predictive capacity, transaction cost theory allows for the optimization of organizational structure under chaotic conditions, and J. Schumpeter’s concept of “creative destruction” substantiates an innovative path out of the crisis. It is emphasized that economic theory acts as a methodological “navigator,” ensuring the logical consistency and validity of anti-crisis measures. The pivotal significance of economic theory in modelling manifests through several aspects. It enables modelling the crisis not as a sudden catastrophe but as a natural phase of development, allowing the enterprise to implement preventive measures even before the first symptoms of financial destabilization appear. Economic theory serves as the basis for modelling the optimal organizational structure in a chaotic environment, justifying decisions about outsourcing, integration, or changing the network of contractors to minimize losses arising from interactions with an unstable market. The use of fundamental economic models (resource theory, risk theory) allows for the identification of the root causes of the crisis rather than just its external manifestations (unprofitability), which is critically important for choosing between sanation and restructuring. Conceptual frameworks for building models that integrate theoretical principles to ensure long-term resilience and strategic enterprise development amid high turbulence have been formulated.

Keywords: anti-crisis management, economic theory, development models, transaction costs, creative destruction, strategic resilience, bankruptcy, restructuring.

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The article was received 20.12.2023

Quote article, APA style

Bulhakova O. , Huzenko O. , Haponiuk O. 20.12.2023. Economic theory in models of anti-crisis management of enterprise development. Actual problems of innovative economy and law. 2024. №1. 121-125 pp. https://doi.org/10.36887/2524-0455-2024-1-25

Quote article, MLA style

Bulhakova O. , Huzenko O. , Haponiuk O. Economic theory in models of anti-crisis management of enterprise development. Actual problems of innovative economy and law. 20.12.2023. https://doi.org/10.36887/2524-0455-2024-1-25