scholarly journals Formation of the Mechanism for Financial Planning at the Enterprise in Conditions of Volatility and Instability of the External Environment

2021 ◽  
Vol 9 (524) ◽  
pp. 207-215
Author(s):  
D. I. Dema ◽  
◽  
L. V. Sus ◽  
Y. Y. Sus ◽  
◽  
...  
Keyword(s):  
Financial Planning ◽  
Financial Management ◽  
Financial Stability ◽  
External Environment ◽  
Cash Flows ◽  
Financial Economic ◽  
Point Of View ◽  
Existing Problems ◽  
Advantages And Disadvantages

The research is aimed at theoretical and practical aspects of financial planning of enterprises in conditions of volatility and instability of the external environment. Based on the generalization of approaches to the essence and the meaning of financial planning, its semantic characteristics are determined in terms of methodology in both broad and narrow context. The process of evolution of financial planning is considered from the point of view of formation of systems of financial economic activity management of enterprises, three stages of its genesis with specification of advantages and disadvantages are distinguished. The principles, types and methods of planning are systematized. The stages of financial planning at enterprises are distinguished and their role in balancing financial stability in the process of formation, accumulation, distribution and use of financial resources is determined. Based on the stages of financial planning, three main subsystems of activity planning (strategic forecasting, ongoing financial planning and operational planning of financial activities) are described. On the basis of the analysis of existing problems in financial management in case of instability and recurrence of crisis phenomena, a mechanism for organizing financial planning at enterprises is proposed. The need to improve the effective generation of cash flows in the long term is distinguished, taking into account strategic and long-term financial plans based on the scenario financial planning method.

scholarly journals Budżet roczny - narzędzie stabilizacji czy destabilizacji systemu finansowego JST?

2017 ◽  
pp. 89-103
Author(s):  
Marek Dylewski
Keyword(s):  
Local Government ◽  
Financial Management ◽  
Local Governments ◽  
Financial Stability ◽  
Research Question ◽  
Financial System ◽  
Point Of View ◽  
The Public ◽  
Annual Budget

The objective of this study is to answer the question should the annual budget continue to be the basic document and the basis for the financial management of local governments, or is it necessary to make changes in the budget system. These doubts arise from the research question: whether the referred annual budget in the current conditions is a tool of stabilization of the financial system of local government units or not? Introduced in the Public Finance Act of 2009, the system of two independent documents, i.a. the annual budget and the long-term financial forecast, without specification of hierarchy, relationship and connection between these documents, does not lead to financial stability of local government from both the point of view of implementation of the budget and the consequences of decisions made by the local government authorities. The lessons that have been learned indicate that the annual budgeting is increasingly leading to destabilization of the financial system of local government units

Mission of the Territory: How to Develop It and is it Needed at All?

2020 ◽  
Vol 144 ◽  
pp. 126-135
Author(s):  
Anna A. Voloshinskaya ◽  
Keyword(s):  
Economic Development ◽  
Content Analysis ◽  
Mission Statement ◽  
External Environment ◽  
Point Of View ◽  
Foreign Experience ◽  
Advantages And Disadvantages ◽  
Socio Economic Development ◽  
Definition Of ◽  
Practical Recommendations

There is no generally accepted definition of a territory’s mission either in Russia or abroad. So is it worth including a mission in the strategy of socio-economic development of a territory and what definition of the mission is better to choose? To answer these questions, a content analysis of Russian and foreign definitions of the territory's mission has been carried out, from which common units of meaning were identified. It was established that a number of semantic units in definitions of the territory's mission and the mission of organization coincide. However, from the point of view of the mission statement, there are a number of significant differences between a territory and an organization, which makes some definitions of the territory’s mission hardly applicable in practice. Conclusion is made: it is better to define the territory's mission through its role in the external environment, functions and unique features of the territory. The article examines advantages and disadvantages of alternative options: not to develop a mission at all or to develop it in a purely formal way. Practical recommendations on developing a territory mission, examples from Russian and foreign experience are given.

Analysis of the concept of «efficiency» and methods for evaluating the effectiveness of enterprises

2020 ◽  
pp. 85-101
Author(s):  
Dmitry I. Zaykin ◽  
Irina V. Kosorukova
Keyword(s):  
Research Result ◽  
External Environment ◽  
Investment Decisions ◽  
The State ◽  
Economic Science ◽  
Minimal Cost ◽  
Advantages And Disadvantages ◽  
The Right ◽  
Comparative Description

Relevance. The article is devoted to the analysis of the concept of «efficiency», which is a rather complex category of economic science. The essence of this concept is revealed. Today, evaluating the effectiveness of enterprises is a necessary requirement for maintaining and improving their competitiveness, and making the right management decisions. The purpose of the study is to develop a system for evaluating performance that would take into account the results of long-term investment decisions and changes in the external environment of enterprises. The objectives of the study are to analyze the modern interpretation of the concept of «efficiency», analyze approaches to assessing the effectiveness of enterprises and determine practically significant approaches to assessing the effectiveness of enterprises. Research result. The analysis of the studied definitions of the concept of «efficiency» has shown that today there is no single interpretation of this category. Common to all definitions is the idea of efficiency as the ability of the system to achieve the goal with minimal cost. As a result of the study, the systematization of the main approaches and methods for evaluating the efficiency of the state of enterprises was carried out. The article presents a comparative description of methods for evaluating the effectiveness of enterprises, which have their own characteristics, advantages and disadvantages, which determines their use in different situations and for different industries. Special attention is paid to modern approaches to assessing the effectiveness of enterprises based on the assessment of strategic efficiency.

scholarly journals Tools for assessing the financial stability of the enterprise

2020 ◽  
pp. 35-41
Author(s):  
A. L. Boltava ◽  
V. A. Budtueva ◽  
V. A. Romanova
Keyword(s):  
Financial Stability ◽  
Absolute Stability ◽  
Working Capital ◽  
Financial Situation ◽  
Advantages And Disadvantages ◽  
Financial Condition ◽  
Economic Entity ◽  
Normal Stability

This article describes in detail one of the main tools for assessing the financial stability of an enterprise. The study describes a method for analyzing the financial stability of an enterprise based on relative indicators: its own working capital, the aggregate of its own and long-term funds, the total amount of sources for the formation of reserves and costs of an economic entity, and shows practical calculations on the example of an economic entity. The study reveals the essence of the method for determining one of the four types of financial situation: absolute stability, normal stability, unstable and crisis financial condition. The types are characterized based on the values of the threecomponent indicator of financial stability. Based on the results of the analysis of financial stability based on relative indicators, conclusions and proposals are made, with emphasis on the stabilization of the financial situation. The advantages and disadvantages of using the studied tool for assessing the financial stability of the enterprise are also highlighted.

scholarly journals MANAGEMENT OFCASH FLOWS OFINVESTMENT ACTIVITY OFENTERPRISES

2017 ◽  
pp. 111-120
Author(s):  
Petro RENDOVYCH
Keyword(s):  
Stock Market ◽  
Financial Management ◽  
Financial Stability ◽  
Cash Flows ◽  
Internal Source ◽  
Joint Stock Company ◽  
Stock Company ◽  
Investment Activity ◽  
Operational Activity ◽  
Market Relations

Introduction. In joint-stock companies there is a problem of shortage of money not only for carrying out of investment activity, but also for maintenance of sufficient level of the operational activity. One of the main instruments of a market economy that contributes to the formation of a cash flow system is the stock market. The purpose ofthe article is to study some aspects ofcash flow management in the system of financial management, to characterize cash flows of joint stock companies, which determine the potential of forming their internal source of financing for their development and provide the formation of additional investment resources for the implementation of financial investments in the securities market. Results. One of the important tasks of the Ukrainian economy development is the development of mechanisms for the formation of investment-attractive and innovative-oriented joint-stock companies. The development of market relations requires an increase in the effectiveness of their activities. The assessment of the effective activity of the entity was determined by analyzing the profit of the enterprise, and subsequently, economists supplemented its coefficients of liquidity, solvency, financial stability. The analysis and identification ofthe reserves for increasing profits is also carried out by analysts of the stock market in orderto furtherstimulate the investor. Conclusion. We believe that the analysis of cash flows by their dynamics and structure allows us to identify the negative factors of the organization of financial and economic activity of the entity, immediately reflects the size, quality and direction of change in the financial state of the joint-stock company, and also contributes to the development of concrete measures for its improvement. Since inbound and outbound cash flows of investments are the main factors in creating the value ofenterprises, which ultimately reflects the management of the result of investment activity in terms of Modern Value Approach, therefore, in our view, the process of reproduction of capital and the formation of investment flows can be expressed through the movement of value in the field Investment activity. In the process of studying investment flows of enterprises, it was found that the level of investment attractiveness of enterprises depends on the efficiency of the movement oftheirinvestment cash flows.

scholarly journals Building a model of strategic financial planning for an organization

2019 ◽  
pp. 174-181
Author(s):  
Olga Rudkovskaya ◽  
Vladimir Gerasenko
Keyword(s):  
Financial Planning ◽  
Life Cycle Stage ◽  
Process Approach ◽  
Point Of View ◽  
Financial Resources ◽  
Financial Strategy ◽  
Key Indicator ◽  
Definition Of ◽  
Goals And Objectives

The article considers approaches to the definition of strategic financial planning, reveals their shortcomings and advantages. Objective: To create a methodological basis for the development of the organization's financial strategy. Methodology: The article is based on the results of research of modern domestic and foreign theories of strategic planning. Application of the results: Increase the validity of the management decisions made based on the results of strategic financial planning. Conclusions: Strategic financial planning is proposed to be considered from the point of view of the system and process approach, which will allow to create an effective functional apparatus, including a system of goals and objectives, principles and tools for the formation and use of financial resources to carry out the activities on developing the directions of organization growth. The formed algorithm of developing a strategic financial planning model allows to take into account the organization’s life cycle stage and its market position in the industry when determining the target parameters of financial development in the long term perspective. An indicator of maximizing the return to capital represented by own and borrowed funds is proposed as a key indicator of the model under consideration. Complying with the set of limitations developed, this indicator provides a more reliable and comprehensive assessment of organization’s development planned directions.

scholarly journals Institutional environment tools for small and medium-sized enterprises development

2021 ◽  
Vol 39 (3) ◽  
Author(s):  
Inna Deineha ◽  
Anatoly Maslov ◽  
Natalia Potryvaieva ◽  
Uliana Berezhnytska ◽  
Liudmyla Verbivska ◽  
...  
Keyword(s):  
Institutional Environment ◽  
Point Of View ◽  
Complex Nature ◽  
Real Sector ◽  
Existing Problems ◽  
Social Sphere ◽  
The Social ◽  
Key Factor ◽  
The Impact

This work's relevance is due to the need to improve the use of tools to stimulate the development of enterprises and the development of effective measures of government influence on the market economy. The article discusses the institutional environment's main characteristics in which enterprises of the real sector of the economy operate.Arguments showing the need for state support and development of small business, from the point of view of a key factor in the development of both the national economy and the factor of stabilization of the social sphere, are presented. The characteristic is given, and the main nuances of the impact and transformation of the institutional environment with the help of available tools are considered to achieve the effect of stable and long-term development of small and medium-sized enterprises.The article attempts to highlight the existing problems and the complex nature of the impact of instruments on enterprises' institutional environment.

Modern Environmental Design of Feng-Shui Culture Ecological Analysis

2013 ◽  
Vol 361-363 ◽  
pp. 519-524
Author(s):  
Xue Jie Chen
Keyword(s):  
External Environment ◽  
Environmental Design ◽  
Point Of View ◽  
Environment Design ◽  
Feng Shui ◽  
Ecological Analysis ◽  
Chinese Characteristics ◽  
Correct Understanding ◽  
Selection Of

Chinese geomancy Fengshui was the fundamental basis, norm and guiding ideology for site selection of environment, planning, design and building of a residence. Its effect scope showed a homology and similarity with the building goal and environment design. Long-term since, someone put feng shui as a kind of feudal superstition, and give the negate, others believe the praise highly of feng shui, vehemently. However feng shui as a kind of culture, historically have been enmities, which inevitably contains a some reasonable factors. Based on this, the author tries to from scientific point of view, make use of ecology theory to explore the Fengshui cultures scientific, hoping to reveal its rationality, and acquire the correct understanding of Fengshui culture. In this way, the paper attempts to establish an environment designparadigm with Chinese characteristics, which can guide the design of environmental art.This paper uses the ecological system theory in the residential Fengshui on to homestead,explores the external environment and reveals the existing in the residential Fengshui cultures scientific, thereby,we can correctly put forward reasonable views on the residential Fengshui culture.

scholarly journals USAGE OF CONTROL CHARTS FOR TIME SERIES ANALYSIS IN FINANCIAL MANAGEMENT

2014 ◽  
Vol 16 (1) ◽  
pp. 138-158 ◽  
Author(s):  
Martin Kovářík ◽  
Libor Sarga ◽  
Petr Klímek
Keyword(s):  
Time Series ◽  
Process Control ◽  
Statistical Process Control ◽  
Financial Management ◽  
Financial Stability ◽  
Control Charts ◽  
Practical Interest ◽  
Cash Flows ◽  
Statistical Process ◽  
Financial Flows

We will deal with corporate financial proceeding using statistical process control, specifically time series control charts. The article outlines intersection of two disciplines, namely econometrics and statistical process control. Theoretical part discusses methodology of time series control charts, and in research part, the methodology is demonstrated on two case studies. The first focuses on analysis of Slovak currency from the perspective of its usefulness for generating profits through time series control charts. The second involves regulation of financial flows for a heteroskedastic financial process by EWMA and ARIMA control charts. We use Box-Jenkins methodology to find models of time series of annual Argentinian Gross Domestic Product available as a basic index from 1951–1998. We demonstrate the versatility of control charts not only in manufacturing but also in managing financial stability of cash flows. Specifically, we show their sensitivity in detecting even small shifts in mean which may indicate financial instability. This analytical approach is widely applicable and therefore of theoretical and practical interest.

scholarly journals Formation of Performance Indicators of System-forming Regional Enterprises under Uncertainty

2021 ◽  
Vol 295 ◽  
pp. 01018
Author(s):  
Alexander Ivanus ◽  
Victor Nevezhin ◽  
Elena Piskun ◽  
Vladimir Khokhlov
Keyword(s):  
Performance Indicators ◽  
Social Indicators ◽  
External Environment ◽  
Financial Economic ◽  
Point Of View ◽  
Enterprise Management ◽  
Modern Enterprise ◽  
The Relationship ◽  
Economic And Social Indicators ◽  
Regions Of Russia

A modern enterprise must be ready for any changes that may arise under the influence of both internal and external influences, including uncertain ones. It must be able to get out of this unfavorable situation as quickly as possible. The proposed study is to confirm the hypothesis of the relationship between the level of uncertainty and the performance of an enterprise based on the use of the preventive preparedness regime. The work solves the following tasks: assessment of the level of uncertainty of the external environment, selected as an indicator of entropy; a methodology for choosing the financial and economic indicators of an enterprise for the formation of a preventive readiness mode is proposed; the existence of a relationship between the level of uncertainty and indicators of the preventive readiness regime has been empirically confirmed. The authors propose a variant of the enterprise’s transition to a state of so-called “maximum readiness”, in which it will feel “comfortable”. The concept of enterprise management in a situation of external uncertainty is presented. In accordance with this approach, the results of the analysis of financial, economic and social indicators of economically significant automobile enterprises located in various regions of Russia, included in the list of backbone and influencing the development of the region, have been investigated. The selected indicators were considered from the point of view of the possibility of applying to them the state of the maximum readiness mode in conditions of uncertainty, which provides an adaptive state of the enterprise and, accordingly, will allow maintaining and even increasing its position in the market in the presence of uncertainties. The proposed concept can be recommended to all firms and enterprises with an innovative focus since they are more susceptible to the adverse effects of uncertainties.

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