economic security; economic security of the enterprise (ESE); post-Soviet countries; risk; risk management; threat
Abstract :
[en] This article addresses the theoretical concept of economic security of the enterprise (ESE) and discusses its features in post-Soviet countries based on a review of the Ukrainian scientific literature. This study includes an explanation of the specific conditions of economic and social transformation as well as of the developments in post-Soviet economic science that led to the introduction of the term “economic security of the enterprise”. This research intends to explain the concept of ESE in post-Soviet economic thought and discusses its utility for different stakeholders. The main research questions are therefore: What are the approaches to a definition of ESE within the concept of ESE in Ukrainian economic thought? How can the main features of ESE be defined? What are the benefits of the concept of ESE for a firm's stakeholders? Our study is based on a qualitative content analysis of the Ukrainian economic literature considering ESE. We conducted a content analysis of the definitions of ESE presented in over 50 dissertations defended in Ukraine during the period 1999-2011. This analysis allows us to identify the distinctive features of the concept: ESE is presented as a generalizing concept, in which terms such as competitiveness, threats, and profitability point out only one aspect of the phenomenon neglecting others. The notion of economic security of the enterprise has a complex internal nature that includes a variety of structural interactions among internal elements of a firm and its external environment, and thus we suggest to define the notion of ESE via its static and dynamic dimensions. Being a broader concept than other widely applied concepts (such as Enterprise Risk Management), the concept of ESE can be of special interest for business managers as well as public authorities due to its ability to propose a solid foundation for economic security on local, regional and national levels. In this context, the economic security framework gives public authorities a basis for policy decisions regarding the future of enterprises.
Research Center/Unit :
CEPE - Centre d'Études de la Performance des Entreprises - ULiège
Disciplines :
General management, entrepreneurship & organizational theory
Author, co-author :
Shutyak, Yuliya ; Université de Liège - ULiège > HEC-Ecole de gestion : UER > Diagnostic et contrôle de l'entreprise
Danylenko, Olena; V.N. Karazin Kharkiv National University (Ukraine) > Department of Economic Theory and Economic Methods of Management
Van Caillie, Didier ; Université de Liège - ULiège > HEC-Ecole de gestion : UER > Diagnostic et contrôle de l'entreprise
Language :
English
Title :
THE CONCEPT OF ECONOMIC SECURITY OF THE ENTERPRISE: WHY DO WE NEED IT?
Publication date :
10 April 2014
Event name :
3rd REDETE Conference "ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP IN TRANSITION ECONOMIES"
Event organizer :
University of Banja Luka
Event place :
Banja Luka, Bosnia & Herzegovina
Event date :
from 10-04-2014 to 11-04-2014
Audience :
International
Funders :
the research was financed by a grant received from PRISME, HEC ULg