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Scientific and methodical approaches to forming the mechanism for ensuring the economic sustainability of industrial enterprises

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Category: Economy and management

Last Updated on 17 November 2017

Published on 17 November 2017

Hits: 3579

Authors:

O.A.Matushevska, Cand. Sc. (Econ.), Sevastopol State University, Associate Professor of the Department of Accounting, Analysis and Audit, Sevastopol, Crimea, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

N.V.Katkova, Cand. Sc. (Econ.), Assoc. Prof., Admiral Makarov National University of Shipbuilding, Associate Professor of the Department of Accounting and Economic Analysis, Mykolaiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

Abstract:

Purpose. The definition and justification of the concept of a mechanism for ensuring the economic sustainability, its components, formation principles, procedures, and tools, which will provide qualitative assessment of the level of economic sustainability to enterprises and will allow using the long-term tools for safe development.

Methodology. To achieve the purpose the complex of general scientific and special methods was used: abstract-logical, monographic, induction and deduction, theoretical generalization and systematization – to determine and generalize theoretical and methodological foundations of economic sustainability and the mechanism of its protection; the semantic method was to define the terms; abstraction was to identify the main components of the mechanism for ensuring the economic sustainability of the enterprise; system analysis was used to formulate principles, procedures, and instruments of the mechanism for ensuring the economic sustainability.

Findings. Studying and generalizing scientists’ attitude to the mechanism for ensuring the economic sustainability of enterprises allowed authors to formulate their definition of it as a system of principles, methods, procedures and tools in their interrelation and interdependence. This system is part of the management system and is aimed at establishing a new equilibrium in response to changing internal and external environment with the purpose of maintaining a balanced operation both within themselves and within their habitat. To ensure continuous and aimed at making a profit and sustainable competitive market advantages, for the process of formation of the economic sustainability the principles of the formation of the mechanism for economic sustainability were defined, particularly the principles of efficiency, of long-term prospects, flexibility, balance, consistency, efficiency and rationality, coordination, synergy, dynamism and hierarchy. Basic procedures and tools of the mechanism for ensuring the economic sustainability of the enterprise were proposed as well as the scheme of the processes in it and the map of organizational support.

Originality. Scientific novelty involves the development of scientific and methodological approaches to forming the mechanism for ensuring the economic sustainability of industrial enterprises, which will provide enterprises with qualitative assessment of the level of economic sustainability and will allow using the long-term tools for safe development.

Practical value. It is the possibility of using the author's proposals to improve the efficiency of ensuring the economic sustainability of industrial enterprises of Ukraine.

References:

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2. Hryhorska, N. M., 2013. Mechanisms and tools for management of economic sustainability of the mechanical engineering enterprises. Bulletin of NTU “KhPI” series “Technological progress and efficiency”, 44(1017), pp. 65–71 [online]. Available at <http://vestnik.kpi.kharkov.ua/files/Наукова_періодика/vestnik/Технічний%20прогрес%20та%20ефективність%20виробництва/2013/44/МЕХАНИЗМЫ%20И%20ИНСТРУМЕНТЫ%20УПРАВЛЕНИЯ%20ЭКОНОМИЧЕСКОЙ%20УСТОЙЧИВОСТЬЮ%20ПРЕДПРИЯТИЙ%20МАШИНОСТРОЕНИЯ.pdf> [Accessed 09 September 2016].

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4. Liubchenko, N. L., 2009. Features of construction of the mechanism for ensuring the economic sustainability of machine-building enterprise. Bulletin of Lviv state Institute of advanced technologies and management named after V. Chornovil “Actual problems of market economy”, 5, pp. 197–203.

5. Matushevska, O. A., 2011. The essence and types of economic stability of industrial enterprise. Socio-economic problems and the state, 2(5) [online]. Available at: <http://sepd.tntu.edu.ua/images/stories/pdf/2011/11moaspp.pdf> [Accessed 14 September 2016].

6. Romanyshyn, M. I. and Shpak, N. O., 2010. The strategy of ensuring economic sustainability of enterprise and the principles of its formation. Zhurnal “Ekonomika ta derzhava”, 10, pp. 48–51.

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9. Vasiuk, N. V., 2012. The formation of the mechanism of sustainable development of machine-building enterprises. Innovative economy: Scientific and Production journal, 10, pp. 125–128.

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