Conceptualization of Economic Security of the Enterprise: A Literature Review

Conference Proceedings. 3rd REDETE Conference “Economic Development and Entrepreneurship in Transition Economies,” Banja Luka, Bosnia and Herzegovina, April 2014

8 Pages Posted: 7 Aug 2015

See all articles by Yuliya Shutyak

Yuliya Shutyak

University of Liège - HEC Management School

Olena Danylenko

V. Karazin Kharkov National University

Didier Van Caillie

University of Liege - HEC Management School, C.E.P.E.

Date Written: April 10, 2014

Abstract

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. Being a broader concept than other widely applied concepts, 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.

Suggested Citation

Shutyak, Yuliya V. and Danylenko, Olena and Van Caillie, Didier, Conceptualization of Economic Security of the Enterprise: A Literature Review (April 10, 2014). Conference Proceedings. 3rd REDETE Conference “Economic Development and Entrepreneurship in Transition Economies,” Banja Luka, Bosnia and Herzegovina, April 2014, Available at SSRN: https://ssrn.com/abstract=2640291

Yuliya V. Shutyak (Contact Author)

University of Liège - HEC Management School ( email )

Boulevard du Rectorat 7 (B31)
LIEGE, Liege 4000
Belgium

Olena Danylenko

V. Karazin Kharkov National University ( email )

Svobody square 4
Kharkov, Kharkov 61002
Ukraine

Didier Van Caillie

University of Liege - HEC Management School, C.E.P.E. ( email )

Boulevard du Rectorat 7 (B31)
LIEGE, Liege 4000
Belgium
042327434 (Phone)

HOME PAGE: http://www.cepe.hec.ulg.ac.be

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