Socio-economic security as a factor of ensuring the organization competitiveness

Abstract

Modern economic life’s dynamism, complexity, and riskiness require enterprises and organizations to take measures to ensure economic security and gain competitive advantages. Human capital is one of the decisive factors for solving these tasks from a strategic perspective. Socio-economic security is one of the central economic categories, which, during the duration of the military conflict, acquired an extremely urgent importance for Ukraine. The study of the content and composition of the economic security of organizations made it possible to highlight the social component as a central element in its architecture. The social component ensures the interaction of the object-subject sphere of economic security management. It mediates the interaction of all types of assets and the effectiveness of the organization’s activities. The article examines the role and importance of human capital as the main element in ensuring the socio-economic security of the organization. The architecture of the components of the socio-economic security of the organization in the context of gaining strategic competitive advantages under the conditions of sustainable development is presented. The principles of achieving the socio-economic security of the organization, which contribute to increasing the competitiveness of business entities, are substantiated. It was determined that human capital determines the nature of the perception of strategic values of sustainable development, which should be the basis of achieving the goals of ensuring organizations’ social and economic security and competitiveness. Ukraine’s current state and place in the world competitiveness rankings have been studied. Based on the analysis of the dynamics of the human development index, an assessment of Ukraine’s human capital was carried out. The obtained results showed the relative stability of Ukraine’s positions in the pre-war period. It was determined that the trends in the country due to the military conflict cause significant risks of loss of human capital, provision of social and economic security, and restoration of competitive positions of the national economy. In turn, this requires the development of effective mechanisms for increasing the quantity, quality, and value of human capital as a foundation for ensuring the socio-economic security and competitiveness of organizations based on sustainable development. Keywords: security, competitive advantages, human capital, development, business entities.