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Modeling the growth of economic potential of companies in the conditions of crisis

Abstract

The need to address the economic potential of companies is dictated by such an unusual type of crisis, combining the structural, cyclical and eventual nature observed in 2020. The features of the structural crisis appeared in the necessity to update all aspects of living conditions - social, economic, political, intellectual, etc. The issues of state economic regulation will also have to be reviewed. The cyclical nature of the crisis manifests itself in lower oil prices, which negatively affects the non-real sector of the economy of Kazakhstan as a commodity state. The eventfulness of the crisis associated with the coronavirus pandemic brings casualties and a decline in production. In these conditions, the government of the Republic of Kazakhstan has taken measures to support business entities and the public - this includes tax breaks, and soft loans, and simplification of public procurement procedures and others. It goes without saying that measures taken by the state will smooth out and slow down the crisis caused by the pandemic, but at the same time, negative macroeconomic factors can lead to a slowdown in economic development and a long recovery of many enterprises. This article provides a brief overview of the measures that companies can take. These measures are aimed at overcoming the negative factors associated with COVID-19. The current crisis situation requires companies to take certain actions in order to maintain economic potential: revising relations with suppliers due to disruption of the supply chain, taking a different view on inventory creation, taking into account their criticality, reducing costs with shifting priorities towards advertising, and, most importantly, respect to human resources.

About the Authors

N. A. Mussakhanova
Университет «Туран»
Kazakhstan


Sh. D. Kydyrbaeva
Университет «Туран»
Kazakhstan


References

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Review

For citations:


Mussakhanova N.A., Kydyrbaeva Sh.D. Modeling the growth of economic potential of companies in the conditions of crisis. Bulletin of "Turan" University. 2020;(2):41-45. (In Russ.)

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ISSN 1562-2959 (Print)
ISSN 2959-1236 (Online)