Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)


Guidelines for Strategy Formation as an Element of Financial Security Strategic Management

Author(s): Nosan Nataliia, Nazarenko Serhii

The author's definition of strategic management of the financial security system and financial security strategy is given. Alternative approaches to the establishment of strategic guidelines for ensuring the financial security of economic systems are proposed and priority strategic guidelines for strengthening the state of various subsystems of a comprehensive financial security system are outlined. The criteria for evaluating the strategy of financial security are generalized and systematized. Four options for financial security strategies are recommended: a strategy for achieving financial security based on branding, image and reputation, a strategy for achieving financial security through partnership with stakeholders and ensuring their interests, a strategy for achieving financial security through expert relations, control and standardization; strategy with a focus on risks, trends and sustainable development. An algorithm for developing a financial security strategy is proposed.

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