The elements of innovative management in a financially sustainable development of industrial enterprises

The aim of the article. At the present stage of economic development it becomes evident that the financial security of a country can be achieved only by ensuring financial stability of such its components as industries, industrial complexes, enterprises and organizations. The financial stability of each separate enterprise allows the whole countrys economic system not only to keep its potential, but also ensure further economic growth.Objective of the article is to determine components of companys financially stable development, to develop a methodological approach to financial stability assessment based on a complex combination of qualitative and quantitative indices.The results of the analysis. Various approaches to defining the essence and meaning of economic stability have one thing in common: companys stability is affected by both internal and external operational factors and its achievement is the result of the implementation of a number of managerial actions aimed at reducing or stopping the negative influence of destabilizing factors; as a result, the company regains the state of equilibrium due to its own or attracted resources, which ensures further progressive development by maintaining the profitability of its activities.After analyzing the literature it is suggested to consider companys financial stability as a result of its capability of maintaining the main parameters of its production and financial activities at a preset level under constant influence of internal and external factors. It is pointed out that the company as an integral economic system comprises a great number of structural elements.The isolation of the components of financial stability should be based on the principles of balance and ensuring future growth of the production system itself. As companys financial stability is formed in the course of its production and financial activities and is maintained and reproduced at the stages of product realization and distribution, it is expedient, in our opinion, to isolate such functional components as production, management, innovation, marketing, financial and business (market) ones. Special attention here should be given to financial and business stability as the main indicators of companys effectiveness, quality and development prospects. They serve as control sections in the system of economic stability control.The indices characterizing the degree of companys financial stability and development capability are, first of all, quantitative indices to which financial stability, solvency, liquidity, business activity, profitability indices should be attributed. Previous generalization of the results gives grounds to say that companies face such a situation when, on the one hand, reasonable assets management policy furthers the stabilization of cash flows (this results in a considerable reduction of bills payable and improvement of financial activity results) and, on the other hand, there is a systemic reduction in the financing of major activities, which leads to a loss of competitive positions.That is, despite general improvement of activity indices one can say about the existence of hidden destabilizing factors which can provoke a crisis. Such a situation requires radical actions to determine, assess and neutralize such factors.In the course of the analysis of factors ensuring the financial stability of material mining equipment companies as a constituent of innovative management, a method of the integral estimate of companys stability has been proposed, which allows not only to take into account actual values of its activities but also to assess its role in ensuring companys stable development, provides for an estimate of functional dependencies of the set of factors inherent in the particular production. This approach makes it possible to get analytical information on business development dynamics, reveal problems in company operation and existing untapped reserves for overcoming external threats.Conclusions and directions of further researches. As a result, the consistency of cash flows is disturbed, production profitability decreases greatly, sales markets are lost, internal conflicts and relations with business partners become more acute. The absence of a smooth system of corporate management leads to an increase in financial losses and bankruptcy risks in nearest future. According to the second scenario, the loss of financial stability occurs through a relatively slow increase of the deviations of the values of companys activity indices from their optimal values.This process is smooth and invisible at the beginning but, in case that no stabilization measures are taken in proper time, this may lead to an increase of uncontrollable yield reduction and even to direct losses from the main operational activity. Under such circumstances the national producers can continue to work only by revising strategic objectives of activity and looking for new ways of growth. In this way, the research and generalization of its results allow to state that the proposed method of the integral estimate of companys financial stability has considerable advantages, namely: capability of the complex assessment of companys financial stability; high flexibility which is demonstrated through the capability of taking into account the conditions and peculiarities of the operation of a specific company in the calculation of the integral index; allows not only to take absolute index values into consideration but also assess the direction and the degree of effect on the general economic results of companys activity.