METHODOLOGICAL APPROACHES TO ANALYSING AND MEASURING THE ECONOMIC EFFECTIVENESS OF ENTERPRISES
DOI:
https://doi.org/10.33042/2522-1809-2023-2-176-14-18Keywords:
economic effectiveness, analysis, assessment, methodical approach, integrated assessmentAbstract
The article is devoted to the study of methodological approaches to analysis and measurement of economic effectiveness of enterprises. Entrepreneurial activity in a market economy is full of daily risks and is a challenge for every business entity. Development of theoretical, methodological, and practical approaches to measuring economic effectiveness of enterprises is a necessary step to ensure the financial success of the enterprise in modern market conditions.
The main purpose of the article is to study existing practices and approaches to analysis and measurement of economic effectiveness of business entities. Also, our aim with this paper was to develop a potential universal and comprehensive toolkit that can be used in the activities of any enterprises in Ukraine, regardless of their size, form of ownership, and operating industry.
It has been found that currently there are two main trends in the analysis and measurement of economic effectiveness, the representatives of which defended their approach to its evaluation, while categorically denying the expediency of implementing the approach proposed by their opponents. Results of the research show that the most appropriate approach in this case is use of a single integral value based on a system of indicators.
Special attention is paid to mathematical approach of measurement. It should also be mentioned that the impossibility of using existing generalizing indicators to characterize the success of the enterprise does not deny the fact that the very essence of the approach to measuring efficiency can be taken as a basis for evaluating economic effectiveness.
The article offers a basic approach to measuring economic effectiveness of enterprises based on integral value. The issues of determining the importance of indicator coefficients and the rating scale remain unsolved. This paper can be useful for managers of enterprises of any form of ownership, as well as for scientists in the field of economics.
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