Assessment of the Economic Security of an Entity

Abstract

The concept of security, including the economic security, was first widely studied in the 20th century without losing its relevance at present. This concept is considered from various points of view, at both macro and micro levels. The most acute problem of assessing economic security is characteristic of an individual entity. What is the essence of economic security and how to correctly assess its level in an entity? To understand the essence of this category and create methods for its assessment, it is necessary to study these and other issues in more detail. The article investigates, identifies and summarises the key characteristics of the essence of economic security in Russia and abroad. The authors use tools and methods of business analysis, consider the qualitative characteristics and features of the category of economic security in relation to the country as a whole and an individual entity in particular. The authors’ position is based on the fact that nowadays it becomes increasingly difficult for each entity to withstand the competition. This problem has been exacerbated by the pandemic crisis. Each entity has its own unique features taking into account which increases the objectivity and accuracy in assessing its economic condition. The authors found that the category of economic security of an entity should be considered taking into account the individual factors affecting it that is unique for each entity. A scenario approach was proposed for assessing the state of economic security and the possibility of changing it.