VALUE-ORIENTED IMPERATIVES OF BUSINESS ECONOMIC MANAGEMENT

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VALUE-ORIENTED IMPERATIVES OF BUSINESS ECONOMIC MANAGEMENT

Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 4, Issue 103

Abstract

In the world and domestic economic space, we have changes in the rules and laws governing the enterprises’ management that have been working for decades, for new concepts, methods, and models of management, the practical application of which promises significant economic benefits to economic actors. The interest of domestic scholars and practitioners in increasing the interest in separating types of enterprise management is increasing due to the need to improve methodological and scientific and practical developments devoted to their managing. The economic development of the enterprise, whose main goal is to harmonize management objectives (defined in certain types of special management) and their subordination to the general purpose of the existence of enterprises, increase of the value of the enterprise for all groups of interested parties, can be considered as perspective developments in this scientific field. The universal approach to modern value-oriented enterprise management includes the theory of stakeholders. In accordance with this theory, the enterprise is considered not only as an economic organization but also as a union of interests of its participants, the trajectory of enterprise development determined by a set of interests and values of stakeholders. At the same time, the value of the enterprise as a criterion for the effectiveness of its activities and, at the same time, the main generalization element of value-oriented management is determined by the level of satisfaction of needs of stakeholders of different groups in the process of the enterprise operation. To effectively use the benefits of value-oriented management in rapidly changing economic conditions, managers of the company should focus primarily on the main factors of value, which will determine the direction of development that will create the greatest value of the enterprise. The realization of economic management goals (ensuring long-term sustainable functioning (viability), increasing the value of the enterprise for all groups of stakeholders, improving the integral characteristics of the enterprise (competitiveness, economic status, risk-taking, innovative activity, etc.)) is possible only if there is an appropriate balance of all functional parts in the system of economic management of the enterprise.

Authors and Affiliations

T. V. Kharchuk, L. A. Kurhuzenkova

Keywords

EP ID EP563397
DOI -
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