MANAGEMENT OF FINANCIAL POTENTIAL OF ENTERPRISES: METHODOLOGICAL ASPECTS
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 50)Publication Date: 2021-06-30
Authors : Nosova Euvgenia; Kovalchuk Viktoriia;
Page : 88-94
Keywords : financial potential; management of financial potential; principles of management; mechanism of management of financial potential of the enterprise;
Abstract
The article defines the essence of financial potential of the enterprise. It has been established that the financial potential of an enterprise is a complex system that provides certain patterns of development, the efficiency of an enterprise, its speed and quality of growth. The existing approaches to the interpretation of the concept of “management of the financial potential of enterprises” are investigated. The management of the financial potential of the enterprise is based on the systemic, process, target and functional approaches. First of all, financial potential management is a system of rational business finance management, which includes the formation of financial relations arising from the movement of financial resources. The principles of organization of management of the financial potential of the enterprise are considered. The theoretical and methodological aspects of managing the financial potential of an enterprise are disclosed. It is proved that the peculiarity of mechanism for managing the financial potential of the enterprise is expressed in the use of financial methods of a managerial nature, which affect the efficiency of the usage of financial resources. It has been established that the long-term efficiency of managing the financial flows of an enterprise and achieving a regular increase in financial potential is ensured through the formation of a system of strategic initiatives that can support these processes. At the same time, the key management aspects of mechanism for managing the financial potential of the enterprise are related to the improvement of economic performance and financial results.. The process of functioning of the financial potential management mechanism is presented. On the basis of the considered approaches, a mechanism for managing the financial potential of an enterprise is proposed. It will ensure the effective adaptation of each business structure to changes in the external and internal environment in order to achieve and maintain financial stability and balanced development.
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