DIAGNOSIS OF THE STATE OF ECONOMIC ACTIVITY OF THE SUBJECT OF BUSINESS

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DIAGNOSIS OF THE STATE OF ECONOMIC ACTIVITY OF THE SUBJECT OF BUSINESS

Journal Title: Науковий погляд: економіка та управління - Year 2018, Vol 1, Issue 59

Abstract

The article substantiates the relevance of diagnostics in modern conditions of management. The factors that create the basis for scientific understanding of the need to change the approaches to the analysis of the results of the enterprise and assessment of the resource potential, the substantiation of its main principles, stages and objectives, as well as the actual vision of the application of economic diagnostics in the process of management of the enter- prise is proposed. A market economy and a change in business forms place new problems for business entities, one of which is to ensure the economic stability of development. Therefore, diagnostics of the state of economic activity of the subject of management is necessary not only for themselves, but also for the partners who take direct part in their activities. The level of economic development requires an entity to adhere to certain rules for successful functioning in a market environment. This leads to the application of various methods of economic and financial analysis to assess their activities when making managerial decisions. It is in these circumstances that the timeliness of certain features becomes apparent, indicating the degree of development of the enterprise at a certain point in time with the help of the coverage of the most detailed and reliable information. These circumstances contribute to the search for new approaches to studying the state of economic entities and the emergence of economic diagnosis as a new way of evaluating analytical information. In addition, its application allows timely detection of additional reserves of enterprise development or indicate their absence. Consequently, economic diagnostics should be used in the management of enterprises continuously since it can detect new trends in the entity requiring changes in the operational management of its financial and economic activity. It focuses on enterprise internal users, as used primary information should wear detailed and confidential. As the process of studying the state entity on the basis of statistical analysis and synthesis of information for timely detection of shortcomings and benefits of development to a certain stage at a certain time span diagnosis allows the widest possible cover issues facing the company. It is also playing an important role in choosing the method of valuation of the enterprise and favors economic diagnosis compared with other approaches and analysis of economic information.

Authors and Affiliations

K. S. Zhadko, A. Y. Sirko

Keywords

EP ID EP449620
DOI 10.32836/2521-666X/2018-1-59-7
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