MANAGEMENT OF ECONOMIC SUSTAINABILITY OF THE ENTERPRISE

Keywords: economic sustainability, stability, functional subsystem, sustainable development management.

Abstract

The article reveals the problem of managing the economic stability of the enterprise as a basis for the economic security of the state. Theoretical provisions have been substantiated and practical recommendations are developed to improve financial stability in order to ensure the stable operation of the enterprise. The factors of the external and internal environment influencing the market conditions, efficiency and effectiveness of economic activity of enterprises have been described. On the basis of the integrated approach the main functional subsystems of the enterprise have been distinguished, which consist of: financial, production, technological, organizational, market (including price), social-ecological, investment and others. They have analysed the possibility of influencing the operation of each subsystem individually and creating the conditions for free manoeuvring of the cash of the enterprise and through their efficient use, as well as facilitating the continuous process of production and sale of products. The principles of formation and structure of algorithm of management of sustainable development of the enterprise have been formulated. Any assessment based on the calculation of quantitative indicators alone is not able to reveal the mechanism for supporting the sustainable development of the enterprise. It is also necessary to use qualitative indicators in addition to quantitative indicators, as this approach contributes to an in-depth understanding of the problem of economic stability of the enterprise. Formation of the algorithm of sustainable development of the enterprise should be carried out on the basis of the following principles: integrity – interconnectedness and subordination of all components of the system, complexity – requires consideration of all anticipated factors of influence, continuity – regulation of influence as new information is received, implementation of the regulatory process must be continuous. The adequacy is the conformity of the system with the natural reality. The main task of management is to develop a strategy that anticipates the future sustainable development of the enterprise, and then the gradual implementation and amendment of the chosen strategy through management and short-term planning.

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Published
2020-04-08
How to Cite
Shmygol , N., & Kasіanok M. (2020). MANAGEMENT OF ECONOMIC SUSTAINABILITY OF THE ENTERPRISE. Financial Strategies of Innovative Economic Development , (1 (45), 51-55. Retrieved from http://journalsofznu.zp.ua/index.php/economics/article/view/335