CONCEPTS OF STRENGTHENING THE ECONOMIC SECURITY OF THE BUSINESS ENTITIES’ INTERACTION

Abstract

The economic security of the interaction of business entities is an important aspect of the sustainable development of the economy and contributes to ensuring the stability and prosperity of society. The purpose of the scientific article is to systematize theoretical approaches to determining the essence of the economic security of the enterprise and to determine directions for strengthening the economic security of the enterprise in the context of its interaction with other business entities. Method or methodology of the work. The theoretical-methodological base of the research are the leading studies of domestic scientists, which reveal the issues about the essence of the economic security of the enterprise and the direction of its strengthening. The method of comparative analysis and content analysis of scientists' works were used in the study. Results of the study. In accordance with the set goal, the article analyzes approaches to defining the concept of economic security of a business entity, and systematized concepts of strengthening the economic security of an enterprise in the context of its interaction with other business entities. Based on the results of the research, the authors proposed their own definition of the concept of economic security of an enterprise, taking into account the aspect of its interaction with other economic entities. Also the authors identified key aspects that reveal the essence of economic security from the point of view of the interaction of business entities: stability; mutual assistance; trust; competitiveness; flexibility. In the article, the authors also highlighted the concept of strengthening the economic security of the business entities’ interaction. Scope of practical application of the results. The results obtained during the conducted research have high theoretical and practical value and can be used by economic entities to improve their development strategy and strengthen economic security. Conclusions. Based on the results of the research, it was concluded that the interaction of business entities is one of the important aspects of economic security, as it helps support economic development and strengthen the company's position on the market.