scholarly journals JUSTIFICATION OF THE CHOICE OF THE STRATEGY OF FINANCIAL RECOVERY OF THE INDUSTRIAL ENTERPRISE

2021 ◽  
Author(s):  
Irina Fedorenko ◽  
Volodymyr Sysoiev ◽  
Svitlana Samokhina
Keyword(s):  
Crisis Management ◽  
Financial Stability ◽  
Good Governance ◽  
Main Tool ◽  
Scenario Planning ◽  
Theory And Practice ◽  
Industrial Enterprise ◽  
Industrial Enterprises ◽  
Financial Recovery ◽  
Authorized Capital

The article analyzes the criteria for choosing a strategy for financial recovery at certain stages of crisis management of an industrial enterprise. Theoretical issues of crisis management are considered and the main tool of its implementation is investigated - organizational and economic management mechanism (strategy), the development and implementation of which should positively affect the economic development of the enterprise through a quality approach to its production and financial potential. Drawing up and using the plan as an element of reorganization should ensure timely response to changes in the economy of the enterprise, analyze possible deviations from the plan and determine the target settings of the enterprise as a microeconomic system in the economy. It is determined that the use of rehabilitation measures of financial recovery may lead to re-profiling of production, reorganization of industrial enterprises, sale of inefficient shares and units in the authorized capital of other enterprises, optimization of staff, its number, increase of authorized capital. In the course of this study the stages of financial recovery of an industrial enterprise that have a direct impact on the achievement of strategic goals and financial stability of the enterprise are considered; it is proposed to introduce a business plan and the form of a reorganization plan by sections in the process of solving the set functional tasks of modeling assessment, forecasting, scenario planning and control of innovation processes. Based on the analysis of existing approaches to the financial recovery of industrial enterprises, it was found that there is a problem in the theory and practice of crisis management in the form of imperfect assessment of the feasibility of financial recovery. Thus, there is a need to improve the rehabilitation mechanism not only in terms of loss of solvency, but also to preserve and increase the potential of the enterprise. As good governance and strategic decisions can have a greater impact on the negative effects of crises, this determines the relevance and appropriateness of research.

scholarly journals Improvement of Financial Standing of Enterprise by Means of Sourcing Maneuver Model Application

2018 ◽  
pp. 29-33
Keyword(s):  
Financial Stability ◽  
Raw Materials ◽  
Scientific Work ◽  
Industrial Enterprise ◽  
Distribution Model ◽  
Enterprise Management ◽  
Business Climate ◽  
Industrial Enterprises ◽  
Managerial Decisions ◽  
Use Of Resources

The most important characteristic of the economic activity of an industrial enterprise is the level of its financial standing. The higher this level, the more attractive is the company for shareholders, banks, service, raw materials and components buyers and suppliers, the more competitive its products are. In recent years, we have seen an unfavorable business climate both in Russia and around the world, which, on the one hand, forces some companies to cut costs or completely withdraw from the market, and on the other, it fosters companies’ attention to creative function, and not only in relation to the products being created, but also to the enterprise management model, the distribution and use of resources. In this connection, the possibility of using sourcing’s technologies in the issue of improving the financial stability of an industrial enterprise through the restructuring of its distribution model and the use of resources is of interest. To achieve this goal, we have used the sourcing’s maneuver model "higher utilization of production areas by providing outsourcing services". The development of proposals for improving the financial standing of the enterprise was carried out through the application of the "direct-hosting" system. In the present work, the authors developed proposals for improving the financial standing of an industrial enterprise through the application of the sourcing’s maneuver model. The results of this work can be useful for further scientific research in the field of economy of sourcing and development of the "direct-hosting" system. They can also be useful for managers of financial and economic units of large industrial enterprises. The developed proposals for improving the financial standing of an industrial enterprise through sorsing maneuver suggest the prospect of further scientific work in the field of forming methodological approaches for making managerial decisions.

scholarly journals Improving the Strategic Management of Investment Activities of Industrial Enterprises as a Factor for Sustainable Development in a Crisis

2019 ◽  
Vol 11 (23) ◽  
pp. 6667
Author(s):  
Vladimir Zhuravlyov ◽  
Tatyana Khudyakova ◽  
Natalia Varkova ◽  
Sergei Aliukov ◽  
Svetlana Shmidt
Keyword(s):  
Sustainable Development ◽  
Strategic Management ◽  
Theory And Practice ◽  
Industrial Enterprise ◽  
Investment Policy ◽  
Management Model ◽  
Development Theory ◽  
Successful Implementation ◽  
Investment Strategies ◽  
Industrial Enterprises

This article discusses the problem of improving the strategic management of sustainable development in industrial enterprises in Russia. The shortcomings of the strategic management of industrial enterprises are due to the fall in the growth rates of the world and domestic economy, international sanctions, and the specifics of the development of socio-economic relations in the Russian Federation. The main problem of the research is related to the imperfection of the strategic management of the investment policy of the enterprise, which leads to a slowdown in the development of the company and a decrease in competitiveness. The main goal of the presented research is to develop proposals for improving the strategic management model for the development and implementation of investment strategies of an industrial enterprise. Based on the analysis of theoretical sources, gaps in research related to the topic and objectives of this work are highlighted. The methodological base of the research is determined, the basis of which are: system theory, systematic approach to managing a company’s sustainable development, theory and practice of modeling, strategic management, investment design. The improved model is proposed, which determines the interdependence of the strategic management of investment policy and the sustainable economic development of the company, presents the algorithm for managing the process of developing investment strategies in an industrial enterprise. This mechanism takes into account the main indicators of sustainable development of an industrial enterprise. There are proposals to improve the management model of insurance reserves of the company, reflecting the strategic aspects of investment activities necessary for the successful implementation of the course on sustainable development in an industrial company. The obtained results were tested by a number of Russian enterprises, which led to positive results of their activities, contributed to more sustainable development and strengthening of competitive positions.

scholarly journals FINANCIAL RISK MANAGEMENT OF AN INDUSTRIAL ENTERPRISE

2020 ◽  
pp. 97-103
Author(s):  
T. Vasilyeva ◽  
N. Antoniuk
Keyword(s):  
Risk Management ◽  
Financial Stability ◽  
Web Application ◽  
Financial Risk ◽  
Industrial Enterprise ◽  
Financial Risks ◽  
Financial Risk Management ◽  
Industrial Enterprises ◽  
Methodical Approach ◽  
Constituent Elements

The article is devoted to the issue of financial risk management of industrial enterprises, which is relevant in the modern realities of the Ukrainian economy. The Google Trends web application analyzes the popularity of search queries in business and industry for phrases such as "financial risk" and "financial risk management" in Ukraine and in the world as a whole over the past 12 months. Based on official statistics, the analysis of the dynamics of the main financial indicators of industrial enterprises of Sumy region for 5 years, namely financial results before tax, financial results from operating activities and operating profitability. Based on the coefficient of variation, the level of financial risk that accompanies the activities of industrial enterprises of Sumy region is determined. The essence of financial risks of an industrial enterprise is revealed and its constituent elements are presented. The main existing approaches to the quantitative assessment of financial risks are presented, which are mainly based on probabilistic assessment. A methodical approach to financial risk management of industrial enterprises is proposed, which provides for constant monitoring of deviations of the integrated indicator, calculated on the basis of financial statements of the enterprise and includes indicators of liquidity, financial stability, profitability, cash flow from financial activities. At the same time, the company is recommended to set clear boundaries of possible deviations of the integrated financial indicator. Emphasis is also placed on the need to form and implement an integrated financial risk management system at industrial enterprises of Ukraine in the modern economic realities of Ukraine. A clear system of financial risk management will allow industrial enterprises to respond in a timely manner to potential threats, neutralize financial risks and avoid possible losses.

scholarly journals Project approach in an anti-crisis management system of financial sustainability of industrial enterprise

2020 ◽  
Vol 10 (2) ◽  
pp. 90-104
Author(s):  
Svіtlana Bondarenko ◽  
Olena Makoveieva
Keyword(s):  
Crisis Management ◽  
Monitoring System ◽  
Financial Stability ◽  
Time Factor ◽  
Industrial Enterprise ◽  
Project Approach ◽  
Operational Management ◽  
Effective Use ◽  
Internal Communications ◽  
The Project Approach

The main aspects of the project approach in the system of crisis management of financial stability of an industrial enterprise are considered in the article. Definitely main factors and signs of the crisis based on the diagnosis of indicators of the financial condition of the industrial enterprise. It is established that the assessment of financial stability is one of the priority tasks in the diagnosis of crisis enterprises, the condition of which is characterized by an increased probability of bankruptcy. The forecast value of the coefficient of financial stability, which can be used to develop a financial strategy of the enterprise or corrective anti-crisis management decisions, is determined. The article proposes a method of implementing a project approach in crisis management of the enterprise. In anti-crisis management of financial stability it is expedient to apply the project approach that will give the chance to implement measures for achievement of the concrete purpose, to coordinate actions of all divisions of the enterprise; to forecast in time and in expenses the project decision of a crisis situation according to the set criteria of quality of performance of works. In addition, the project approach has all the features of the crisis management system: a team of specialists is formed to perform the tasks of crisis management; strategies for increasing the competitiveness of the enterprise are developed; optimal ways (options) of realization of system of anti-crisis measures for the purpose of increase of stability of functioning of the enterprise are made. The advantages of the project approach in crisis management of financial stability are: assessment of the current state of the enterprise; use of the company's own resources in order to reduce the cost of implementing a system of anti-crisis measures; clear delineation and definition of personal (team) responsibilities and powers; systematic approaches to determining the phenomena and factors of the crisis, as well as to the development and implementation of anti-crisis programs, due to the involvement of specialists and managers of different levels and areas of activity, in accordance with the sources of threats; increasing control over the expenditure of funds and resources aimed at anti-crisis measures, the introduction of methods for their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization. introduction of methods of their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization. introduction of methods of their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization.

scholarly journals Evaluating elasticity of costs for employee motivation at the industrial enterprises

2018 ◽  
Vol 16 (1) ◽  
pp. 124-132 ◽  
Author(s):  
Petro Pererva ◽  
Oleksandr Hutsan ◽  
Valerii Kobieliev ◽  
Andrii Kosenko ◽  
Volodymyr Kuchynskyi
Keyword(s):  
System Analysis ◽  
Scientific Research ◽  
Employee Motivation ◽  
Motivational Factors ◽  
Theory And Practice ◽  
Industrial Enterprise ◽  
Engineering Plant ◽  
Industrial Enterprises ◽  
Commercial Activities ◽  
Research Findings

Employee motivation at the industrial enterprises is one of the most important principles of modern management. The practice of production and commercial activities of domestic enterprises speaks for essential modifications in the approaches to identifying the methods of employee motivation.In the meantime, at many industrial enterprises, motivational modules are limited to the level of salary payment. Therefore, the search for approaches to the formation of effective methods of employee motivation and the analysis of their classification peculiarities require implementing the complex scientific research and determine the relevance of the chosen topic. The purpose of the article is to adapt the notion of function elasticity to increase the employee motivation effectiveness at the domestic industrial enterprises. Increasing the effectiveness of employee motivation at an industrial enterprise is the object of the research.The research findings are obtained using the theory and practice of expert methods and system analysis, whereby 26 basic (key) motivational measures were determined, which were divided into six block-modules: jurisdictions, effectiveness, social and psychological, indirect financial influence, and direct financial influence.The weight of each of the motivational factors is determined and they were also classi¬fied according to this indicator. The notion of motivation elasticity is proposed, which makes it possible to assess the motivational measures performance both for every block-module and for every employee, team, production department or enterprise.Motivation elasticity ratio for ten employees of Kharkiv Machine Engineering Plant FED is calculated. Recommendations for further research on the paper’s subject are proposed.

scholarly journals Knowledge in the model of dynamics and stability of an industrial enterprise

2021 ◽  
Vol 112 ◽  
pp. 00034
Author(s):  
Sergey Chuprov
Keyword(s):  
Financial Stability ◽  
Statistical Physics ◽  
Business Environment ◽  
Industrial Enterprise ◽  
Stable Operation ◽  
Industrial Enterprises ◽  
Control Information ◽  
Level Of Knowledge ◽  
The Stability ◽  
Properties Of Information

The formation and development of the knowledge economy logically lead to the need for an indepth study of the nature and properties of information in economic systems. The priority value of the information resource and knowledge in the activities of industrial enterprises is determined both by the prospects for the development of science-intensive products and their competitiveness in the world and domestic markets, and by the desire to ensure the stable operation of the enterprise in a highly disturbed business environment. With the search and analysis of the dependences of the production, financial and economic processes taking place in them on the control information, the systemic interaction of the enterprise resources and the dynamics of key indicators of the activity of industrial enterprises are revealed.From the standpoint of thermodynamics, statistical physics and cybernetics, it is proposed to spread the information concept of V. Trapeznikov to substantiate and modelling the dependence of a number of economic and financial indicators on the amount of accumulated information in the controlled complex of an industrial enterprise.Modeling and interpretation of the relationship between the volume of control information with the uncertainty of the functioning of an industrial enterprise and the achieved level of knowledge about it is carried out. The condition for the stability of the indicator of the effect of activity and the financial stability of the enterprise (autonomy ratio) is formulated. The mathematical condition for the range of changes in the level of knowledge of industrial enterprises has been substantiated.

scholarly journals THE STATE OF FINANCIAL ACTIVITY OF INDUSTRIAL ENTERPRISES AS A PREREQUISITE FOR CRISIS MANAGEMENT

2021 ◽  
Author(s):  
Yuliia Ohrenych ◽  
Oleksandr Hrytsenko
Keyword(s):  
Crisis Management ◽  
Financial Stability ◽  
Industrial Development ◽  
Market Competition ◽  
External Factors ◽  
Engineering Industry ◽  
Necessary Condition ◽  
Financial Activity ◽  
Industrial Enterprises ◽  
The Impact

The creation and further operation of any enterprise is aimed at making a profit, which in a market economy is not without the influence of a number of factors. In practice, these factors can be extremely diverse, ranging from market competition and, consequently, the constant need to modernize production, and ending with the political vicissitudes of the country, which often entails a change in the vector of industrial development as a whole. Maintaining the efficiency of financial activities, in conditions of constant external and internal factors of influence, is a necessary condition for the existence of each individual enterprise. Therefore, the analysis of factors and reasons for reducing the efficiency of financial activities of industrial enterprises is important for further decision-making on the implementation of anti-crisis management measures. The article analyzes the main trends of fluctuations in the financial activities of industrial enterprises of Ukraine on the example of PJSC "Zaporizhzhya Electric Locomotive Repair Plant". The key factors and reasons for changing the financial performance of the enterprise are identified. The influence of external factors on the reduction of financial efficiency is characterized. The analysis of a particular enterprise reflects the overall situation in the engineering industry of Ukraine, because each company is equally exposed to external factors on the financial condition, although it does not determine the methods of responding to external threats. The essence of the financial activity of the enterprise, the factors that determine it and the reasons for the impact of internal risks on the financial activities of economic entities are considered. The analysis of financial activity of the enterprise is carried out through a prism of indicators of profitability, liquidity, a condition of property, relative indicators of an estimation of financial stability and business activity. The necessity and expediency of anti-crisis management at an industrial enterprise have been established. The author identifies the main directions of improving the financial situation.

scholarly journals Economic and mathematical modeling of industrial enterprise business model financial efficiency estimation

2020 ◽  
Vol 166 ◽  
pp. 13025
Author(s):  
Mykola Havrylenko ◽  
Vira Shiyko ◽  
Liliana Horal ◽  
Inesa Khvostina ◽  
Natalia Yashcheritsyna
Keyword(s):  
Financial Performance ◽  
Business Model ◽  
Financial Stability ◽  
Industrial Enterprise ◽  
Financial Efficiency ◽  
Industrial Enterprises ◽  
Financial Condition ◽  
Methods Of Calculation ◽  
Integral Measure ◽  
Efficiency Estimation

The article proposes two methods for evaluating the financial efficiency of a business model of industrial enterprises. In order to evaluate the financial efficiency of the business model of an industrial enterprise, a system of single indicators for assessing the financial condition of the enterprise by such components as financial stability, liquidity and solvency, business activity and profitability was formed. Fishburne’s rule weights the major components of an integral measure of an enterprise’s business model financial performance. In addition, an integral measure of the financial performance of the business model is modeled using the fuzzy set method and taxonomic analysis, which will help to evaluate the financial performance level of the business model more objectively. The comparative analysis of the obtained results by different methods of calculation of integral indicators is carried out.

scholarly journals The Current State of Formation of Financial Strategy in the Management System of an Industrial Enterprise

2020 ◽  
pp. 122-130
Author(s):  
Е. Myronenko ◽  
◽  
S. Barkova ◽  
V. Yershakova ◽  
◽  
...  
Keyword(s):  
Financial Development ◽  
Financial Stability ◽  
Industrial Enterprise ◽  
Financial Strategy ◽  
Industrial Enterprises ◽  
Financial Condition ◽  
Current State ◽  
Development Analysis ◽  
Goals And Objectives ◽  
Financial Environment

The article considers the essence of financial strategy, defines its place in the strategic set of industrial enterprises. The characteristics of the financial strategy of the enterprise are substantiated and supplemented and the organizational model of its formation and realization is built. The goals and objectives of the financial strategy, the nature of management decisions aimed at ensuring financial stability, competitiveness and maximizing the value of the enterprise are described. The process of enterprise development at different stages is analyzed. The most important essential characteristics of the financial strategy of an industrial enterprise are determined. It is proved that in the course of diagnosing and assessing the strategic opportunities of financial development of the enterprise is carried out: analysis and assessment of the financial condition of the enterprise in order to identify the state of the enterprise and identify features of its development; analysis of factors of the internal financial environment to identify the direction of their action on the final results of the enterprise; comprehensive analysis and diagnosis of internal financial potential in order to establish its level to ensure the strategic opportunities for financial development of the enterprise.

scholarly journals CRISIS MANAGEMENT BASED ON INTEGRATION OF THE BUDGETING AND QUALITY MANAGEMENT SYSTEMS

2014 ◽  
pp. 80-85
Author(s):  
P. V. Golovanov ◽  
А. N. Kulikova
Keyword(s):  
Quality Management ◽  
Crisis Management ◽  
Financial Stability ◽  
Industrial Enterprise ◽  
Management Systems ◽  
Quality Management Systems

The article covers the development of the economic-organizing mechanism of the crisis management of the industrial enterprise financial stability based on integration of the budget and quality management systems by using the system of targets and criteria of the processes effectiveness within the budgeting system.

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