Crisis of the organisation, the occurrence reason, kinds and consequences

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THE ABSTRACT

On a theme: Crisis of the organisation, the occurrence reason, kinds and consequences

MINSK 2011



The factors influencing occurrence of crises in the organisation

The organisation is some rather isolated structural link in the general economic system. Criteria of such isolation are economic independence, organizational integrity (existence internal and an environment), presence of specialised information structures, possibility of allocation for the organisation of the general result of work.

As the organisation the separate firm, the enterprise, joint-stock company, bank, the company (insurance, tourist I other), and also structural units of system of the government can be considered.

The organisation constantly influence as the external factors defined by influence of the general cycles of economy, and internal, depending on own cycles and crisis development.

External factors characterise economic conditions in which the organisation functions and on which it depends.

Internal factors concern: technology ageing, the inefficient organisation of work, miscalculations in economic strategy, errors in acceptance of economic decisions, business and socially-psychological conflicts, low professionalism of the personnel, unsuccessful marketing and many other things.

To have possibility in due time to start programs of anti-recessionary management, it is necessary to distinguish factors, symptoms and the crisis reasons.

Symptoms are shown in indicators and, that is very important, in the tendencies of their change reflecting functioning and development of the organisation. So, the analysis of indicators of labour productivity, efficiency of activity, installed power per employee of manufacture, a financial condition or such as fluidity of the personnel, the discipline, satisfaction work, a conflictness, etc., can characterise position of the industrial organisation concerning crisis approach.

Thus the size and dynamics of indicators can be estimated and concerning the established recommended size (admissions of changes), and concerning their values in consecutive time intervals.

Discrepancy of indicators to natural parities or sharp decrease in indicators in certain time intervals can be a symptom of crisis development, for example. However, not always symptoms of deterioration of a condition of the organisation lead to its crisis. The symptom is only external display of the beginning of "illness" of the organisation, but in "illness" - to crisis result the reasons of its occurrence. The reasons underlie occurrence of symptoms and factors of crisis situations.

It is possible to present stages of occurrence of crisis by the following chain: the reasons ? symptoms ? factors.

To estimate crises follows not only on its symptoms, but also for the reasons and real factors.

The crisis reason - events or the phenomena owing to which there are symptoms and further crisis factors.

The crisis factor - event or the fixed condition of object, or the established tendency testifying to approach of crisis.

The system in the course of the ability to live can be either in steady, or in an unstable condition.

Distinguish static dynamic stability.

The factors influencing stability of system, can be external and internal. If stability, basically, is dictated by external factors it is accepted to name it external if internal - internal.

In the conditions of the centralised management of economy stability of productive and economic structures was reached, as a rule, at the expense of influence of external operating decisions, i.e. any or nearly so any processes were extinguished from the outside. And, mechanisms of reduction of system in stable condition could be the most different: it and additional economic support, both replacement of the director, and updating of plans, and administrative reorganisation of manufacture, etc. In this case stability of activity of the organisation was reached by management from the outside, and crisis did not come.

It does not mean, that the stability problem did not exist. It simply moved on branch, regional and state levels and always dared from above.

Everything made earlier, reforms concerned, first of all, higher levels, i.e. state (regional) and branch. It is enough to mention the integration facts (разукрупнения) the ministries, introduction of general schemes of management.

Now in the conditions of a competition the problem of stability of the organisation faces to each organisation.

Organisation crisis: its kinds, phases and consequences

Crisis is an extreme aggravation of industrial and social and economic relations, and also relations of the organisation with the external economic environment.

Crisis situations can arise at any stage of activity of the organisation both in formation and development, and in stabilisation and expansion of manufacture and, at last, at the recession beginning, etc.

The world market economy does not know examples of the organisations which crisis situations to some extent ever have not concerned.

Crisis situations, first of all, are expressed in fluctuations of volume of manufacture and sale of production, growth of creditor debts to suppliers, banks, tax bodies, in deficiency of circulating assets, etc. as these reasons serve as the precondition of occurrence of a condition of insolvency of the organisation.

To bankruptcy of the organisation pass a number of stages of a condition of time inability to carry out in full and in due time financial obligations to long, from long to chronic inability, from chronic to a crisis and hopeless condition, i.e. full financial bankruptcy.

Considering various kinds of crises of the organisations, researchers most of all pay attention to financial crisis of the organisations. The finance, financial streams are as blood (as the oxygen carrier in all sites of a body) at the live organism, providing ability to live of all bodies.

For this reason it is possible to compare to certain degree of convention functioning, "disease" and "treatment" of the organisations with development of the person that it is possible to track on mentioned below model.

1. Firm registration

1. A birth of the person

2. Development, firm growth

2. Development and growth of the person, its formation

3. Creation of affiliated firms

3. A birth at parents of children

4. Occurrence of signs of insolvency, financial instability

4. Occurrence of illnesses at the person

5. Carrying out of the analysis (diagnostics) of activity of firm and definition of measures on stability restoration

5. Carrying out of diagnostics on the basis of analyses of a condition of the person, a prescription of medicines for prevention of illnesses

6. Process of financial improvement of firm at realisation of the planned measures

6. Process of recovery of the person at a drug intake

7. Deterioration of a financial condition, occurrence of chronic instability

7. The illness aggravation, health deterioration, patience does not help

8. Reduction of unprofitable manufacture

8. Carrying out of surgical operation for rescue of the person

9. Approach of a crisis condition of firm

9. Resuscitation of the person

10. Firm liquidation

10. Death of the person

In the countries with the developed market economy of the organisation, at their recognition insolvent, get to «the black list» - the register of the insolvent organisations and their proprietors with all following consequences: reputation falling, loss of partners, not possibility to receive credits and delays on payment of deliveries etc. With mistrust also concern and proprietors of these organisations who begin new business.

With reference to the organisation crises are classified as follows:

??technological (industrial) at which occurrence the out-of-date equipment and technology do not allow to let out qualitative, competitive production, that leads the organisation to financial losses;

??social (socially-administrative), results from occurrence between workers or their groups of conflicts, including between workers and administration, administrative conflicts in management personnel, etc. Specified conflicts conduct to acceptance of inefficient decisions and to time losses on the manufacture;

??financial, resulting irrational use of own capital and extra means, not an effective utilisation of the received profit that involves financial problems of the organisation;

??organizational - results from imperfection of industrial structure of management and management personnel structure in the organisation, inefficient distribution of duties, the rights, powers and responsibility between management levels, divisions of the device and inside between executors;

??information, a consequence of a situation in which the received information does not reflect the changes occurring in the market, insufficiently authentically reflects a state of affairs in the organisation. All it causes occurrence and increase in various kinds of losses;

??interaction crisis between proprietors of the organisation or with the power, contradictions in their interests that does not allow to carry out effective to the policy and as a result brings essential losses of the organisation.

Finally these crises, as a rule, are reflected in the finance of the organisation and among themselves closely enough connected.

In development and overcoming of crises in the organisation following phases differ:

I phase - recession (decrease in the indicators characterising results of financial and economic activity) because of external factors of the market;

II phase - the further deterioration of results of activity under the influence of the internal reasons in the organisation (without deterioration of external conditions in the market);

III phase - depression - the organisation adaptation to new conditions of managing at lower level of incomes (under condition of acceptance of prime anti-recessionary measures);

IV phase - restoration of financial balance, manufacture revival - restoration of manufacture and realisation of production to precritical level;

V phase - manufacture growth, acceleration of economic development of the organisation, increase in sales volumes and realisation in short-term prospect;

VI phase - maintenance of a new economic level of development of the enterprise, its stability in long prospect, creation of conditions for self-financing.

Crises can cause one another or there can be a chain reaction when one arisen crisis causes - another, and then the third etc.

Danger of occurrence of crisis in the organisation exists always, therefore it is necessary to carry out the analysis and on its basis the constant control for the purpose of recognition, forecasting and the prevention of crisis situations.

The arisen disproportions and balance infringements between can be the internal reasons of occurrence of crisis in the organisation:

??separate groups of own and extra means and their placing in the cores and circulating assets;

??in volume of manufacture and in volume of realised production;

??in volume of realisation of production and a monetary making gain;

??incomes and in volumes of short-term loans;

??quality of production and its price in the market;

??by production and expenses for its manufacture;

??level of a hardware of the analyzed enterprise and its competitors;

??дебиторской and creditor debts;

??in volumes of investments and incomes on them, etc.

It is necessary to mean, that crisis in the organisation not necessarily leads to negative consequences.

In table 1 the positive and negative consequences resulting approach of crisis in the organisation are classified.

The basic directions of the state anti-recessionary regulation are:

??perfection of legislative base about an inconsistency (bankruptcy) of the enterprises;

??rendering of the state support to the insolvent enterprises, first of all, in leading branches of mechanical engineering, chemistry, to the agrarian and industrial complex enterprises;

? liquidation of the enterprises-debtors;

??perfection of activity of economic courts;

??creation of institute of arbitration managing directors - the self-adjustable organisations of arbitration managing directors.

Bankruptcy of the organisation: its kinds, the purpose and consequences

Distinguish following kinds of bankruptcy:

1. Real bankruptcy of the organisation which is characterised by inability of the Enterprise to restore the solvency owing to real losses of own and extra capital. In this case competitive manufacture (organisation liquidation) or reorganisation of the legal person proceeding from the analysis of a concrete condition of actives and organisation passives can be spent;

2. Time, conditional bankruptcy which is characterised by such condition of insolvency of the organisation which you звано essential delay of its creditor debts, and also the big size дебиторской debts, finished goods overstocking, at the same time the sum of actives of the organisation surpasses volume of its debts. Such kind of bankruptcy of the organisation at anti-recessionary management by use of sanitation and effectual measures of financial improvement does not lead to organisation liquidation. In the conditions of carrying out arbitration procedures of financial improvement and external management there is a real possibility to restore solvency of the organisation, to reorient manufacture taking into account requirements of the market and to provide in the subsequent its normal functioning;

3. Deliberate (deliberate) bankruptcy which is characterised by deliberate creation by heads and proprietors of the organisation of a condition of its insolvency, drawing to it of economic harm (plunder of means of the organisation by different ways) in personal interests and in interests of other persons. The elicited facts of deliberate bankruptcy are transferred in court for attraction guilty to criminal prosecution;

4. Fictitious bankruptcy is a false announcement the organisation about the insolvency for the purpose of deception of creditors for reception from them delays of payments under the financial obligations or receptions of the discount from debts, or for finished goods transfer, not best-selling in the market for repayment of debts. The organisations guilty of the false announcement insolvent, in concealment of actives for repayment of creditor debts are pursued in a criminal order.

The organisation which has received the status of the legal person from the moment of its state registration, gets duties, responsibility and the rights before external subjects of the right. Duties and responsibility from the point of view of bankruptcy procedure is a timely execution of the obligations, full repayment of debts, and also responsibility for untimely performance of obligatory payments and obligations to creditors.

The rights from the point of view of bankruptcy procedure is possibility to demand from the debtor of return of the means, repayment of debts and indemnification for their untimely payment up to the reference in judicial bodies.

Realisation of procedure of bankruptcy of the organisation has for an object, first, to repay debts legal and to physical persons and, secondly, to restore enterprise activity of the organisation in the future. Thus restoration of solvency of the organisation, and secondary - repayment of creditor debts should be the primary.

Bankruptcy of the organisations has both positive, and negative sides.

Positive sides of carrying out of procedures of bankruptcy are possibilities:

??closings of the organisation of the debtor (the sick organisation) and returning of debts to creditors in the civilised way through court;

??the beginnings of new business;

??replacements of incompetent heads, time proprietors of the organisation by professional heads, transfers of business to more reliable hands of proprietors;

??clarifications of actives of the organisation, restoration of its financial stability and re-structuring for the purpose of an exit on effective business;

??transfers of business of the organisation from the state in private hands, and on the contrary.

At the same time bankruptcy of the organisation (its liquidation) has also negative consequences as mentions the rights and interests of the big circle legal and physical persons (workers of the organisations, partners of the organisation, creditors etc.) and bears in itself other social costs.

Therefore in the countries with the developed market economy the complex of measures on restoration of solvency of firm-debtor, as a rule, is provided, and its bankruptcy (liquidation) or business reduction is considered as the extremely undesirable measure.

Bankruptcy negative sides concern:

??loss by creditors of a part of the capital;

??possibility to cause the subsequent bankruptcies - a so-called domino effect;

??deterioration of a financial position of workers of the enterprise because of a long delay due to them of wages, grants etc.;

??reduction of workplaces, occurrence of social intensity, and as result - decrease in solvency of the population;

??narrowing of the consumer market;

??possibility of criminal repartition of the property of the organisation and property plundering, including the organisations with a considerable share of a state ownership.

Procedure of bankruptcy of the organisations should be considered from the economic and legal points of view.

Bankruptcy from the economic point of view is a consequence of the bad account of economic and enterprise risks in activity of the organisation, caused, first of all, not qualified decisions and actions of a management of the organisation, i.e. risks of heads and proprietors (for proprietors choose heads) the organisations.

Bankruptcy from the legal point of view is possibility of the legal decision of sharp conflicts at a non-return the organisation-debtor of money resources to the creditor. The legislation protects interests of creditors, giving to them chance to return the enclosed means (in full or in part) or at the expense of sale of property of the debtor, or as a result of change of a management and proprietors of the organisation, by introduction and realisation various реорганизационных measures.

At the same time it is necessary to notice, that short-reception of a part of means by creditors is for them to a consequence of their risks by delivery of production or granting of services to the organisations without the analysis and the account their payment - and credit status.

Stages of bankruptcy of the organisations

organisation crisis bankruptcy

Following stages of bankruptcy differ:

I stage. Origin of financial instability, occurrence of the negative phenomena in enterprise economic activities.

At this stage there is a latent reduction of price of the enterprise, incomes decrease, losses etc. grow

The management resorts to cosmetic measures: continues to pay high dividends (to calm shareholders and other interested parties), increases the extra capital, sells a part of actives to remove suspicions at creditors, that affairs at the enterprise worsen.

This stage sometimes name the latent form of the beginning of bankruptcy. Imperceptible decrease in "price" of the enterprise under the influence of various external and internal factors Here begins.

The enterprise price is defined under the formula:

V = Р/К,

Where Р - expected profit before payment of taxes, and also percent on loans and dividends; K - the average percent showing about cents and dividends which it will be necessary to pay according to the conditions which have developed in the market for extra and joint-stock capitals; or the rate of refinancing of National bank established on the given period of time is applied; V - the expected price of the enterprise.

Enterprise reduction of price means decrease in its profitableness, increase in average cost of obligations.

It is expedient to count «the enterprise price» for the nearest and long-term prospect.

Conditions of the future falling of the price of the enterprise are usually formed in a present situation and can be with certain probability are foreseen, though in economy always there is a place for not predicted jumps.

The presented indicator of the price does not concern the prices of sales of the enterprise. Outside of the financial reporting there are the major elements of potential of the enterprise - shots, scientific and technical reserves, uniqueness of the equipment and others which should play a role of the main levers of improvement.

Profitableness decrease occurs under the influence of the various reasons - internal and external. The considerable part of the internal reasons can be defined as decrease in quality of administrative decisions, and a considerable part external - as deterioration of conditions of business.

II stage. Occurrence of financial instability (an initial stage of financial instability).

III, IV stages. Steady (long) and chronic financial instability.

The difference between the second and third stage consists that at the third stage there is a further deterioration of indicators of work of the enterprise, sharp change of articles of an active and a balance passive, deterioration of financial results.

It is a consequence of influence of following reasons:

??sharp reduction of money resources by accounts;

??increase дебиторской debts (sharp decrease in a gain also speaks about difficulties with sale if it is accompanied by growth of stocks of finished goods);

??ageing дебиторских accounts, occurrence, so-called, "rotten" дебиторской debts;

??разбалансирования дебиторской and creditor debts;

??increases in creditor debts (or its sharp decrease in the presence of money for accounts also testifies to decrease in volumes of activity);

??decrease in sales volumes (the adverse can appear and sharp increase in sales volumes as in this case bankruptcy can come as a result of the subsequent разбалансирования debts if the unreasoned increase in purchases follows, capital expenses; besides, growth of sales volumes can testify to production dump before enterprise liquidation);

??difficulties with a cash;

??delays in payment of wages to workers;

??delays with repayment of obligations (the delayed debts);

??growth of losses;

??conflicts at the enterprises, dismissals of the administrative board.

The administration at this stage is often inclined to adventurous ways of earning money, and sometimes even to swindle.

V stage. Bankruptcy of the organisation.

The organisation not can pay in due time debts both in full, and partially, and bankruptcy becomes legally obvious.

Bankruptcy is shown as inconsistency of monetary streams (inflow and outflow of money). The enterprise can become the bankrupt as in the conditions of branch growth, even boom, and in the conditions of branch braking and recession. In the conditions of sharp lifting of branch the competition increases, in the conditions of braking and recession rates of growth fall.

Each of considered above stages, first of all, is characterised by a condition of production and the finance, and as a condition of functioning of the administrative personnel.

I stage. Production is carried out in the same rhythm without qualitative and quantitative decisions. Poor-quality, unreasoned administrative decisions are made. There are separate failures in realisation of payments on debts.

II stage. Production gives certain failures (for example, production sale decreases, the debts increase, and terms of realisation of payments are displaced). There are conflicts among the personnel. Because of technology non-observance there is rejected production.

III stage. There are serious failures in production. The personnel part is in free holidays. The qualified personnel leaves. Payment of the salary is late and there is its reduction. The delayed debts on payments increase.

IV and V stages. A partial and almost full stop of manufacture. The salary is not paid. Creditors besiege the enterprise. The personnel runs up. There is no solvency.

These characteristics define internal factors of the enterprise.

Nonacceptance of measures at each stage and even substage involves crisis deepening at the enterprise and скатывание in the following stage with all consequences.

In some cases the enterprise can be considered at once as the bankrupt on II, III stages under the influence of external factors - acceptance by the government of unexpected decisions in the field of economy when banks stop the work, and the prices (on materials) in steps grow or suddenly taxes or tariffs etc. sharply raise

Then the characteristic of stages assumes some other air. For example, II, III stages. Production still proceeds by inertia. The administrative personnel is not ready to a new situation. Qualitative decisions are not made. There are conflicts and qualified personnel leaving. The salary is late and decreases. Payments under obligations break.

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