Small business crisis strategies: pandemics

Abstract

The article considers the problem of effective diagnostics of the state of an organization in a crisis that arose under the influence of the external environment. The state of a young organization is analyzed before and after the appearance of adverse external factors, the occurrence of which does not depend on the effectiveness of the organization. The express diagnostics of the financial condition of the organization was carried out to identify crisis and determine its features. Crises can arise at any stage of the organization’s life cycle and each case will have its unique features, which makes the universal formula to emerge from a crisis impossible. The identification of crisis phenomena and methods of its overcoming at an early stage is an urgent issue of enterprise management. In this regard, there is an urgent need to study the application of new approaches to diagnosing crises at enterprises, as well as developing common ways to get an organization out of a crisis state and ensure the proper functioning of the organization in any situation. Based on the results of diagnostic and preventive studies of various aspects of the organization’s activities, managers and owners have the opportunity to develop a model of crisis management of their organization. The development of faster and more effective methods of diagnosing and overcoming crises in the conditions of young organizations will ensure the survival of a large number of newly formed enterprises, strengthening the ability of small businesses to resist negative influences and quickly adapt to any changes in the world. CZU: [334.722:005.334]:614.4; JEL: G32, L20, M13.