FORMULATING A COMPANY'S FINANCIAL STRATEGY UNDER MARTIAL LAW

Abstract

The purpose of the article is to substantiate the theoretical and methodological foundations for forming a financial strategy for an enterprise under martial law. The article examines the peculiarities of forming a financial strategy for an enterprise under martial law and during the post-war recovery of Ukraine's economy. It is argued that the transformation of the economic environment caused by military actions significantly complicates the functioning of enterprises and requires a review of traditional approaches to strategic financial management. The key factors influencing the formation of financial strategy in conditions of instability are identified, in particular, limited financial resources, increased financial risks, changes in market conditions, disruption of logistics links and regulatory challenges. The content of financial strategy as a system of management decisions aimed at the formation, distribution and use of financial resources to ensure financial stability, solvency and long-term development of the enterprise is revealed. A phased approach to the formation of financial strategy is justified, which includes diagnosis of the external and internal environment, strategic and financial analysis, selection of the optimal strategic alternative, development of financial policy and implementation mechanisms, as well as monitoring and adjustment of strategic decisions. The article systematises the main types of financial strategies of enterprises depending on the conditions of operation and stage of the life cycle, in particular, expansion, gradual development, defensive, stabilisation and anti-crisis strategies. It is proven that the choice of a specific type of financial strategy should be based on a comprehensive assessment of the financial potential of the enterprise, the level of risk and access to financial resources. It is concluded that an effective financial strategy in a state of martial law should combine an anti-crisis focus with the formation of foundations for post-war recovery and growth. The practical significance of the study lies in the possibility of using the proposed approaches in the process of strategic financial planning for enterprises in various sectors of the Ukrainian economy.