Analysis and modeling of an iron ore enterprise’s production potential in Kryvyi Rih region

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Authors:

A. Cherep, orcid.org/0000-0001-5253-7481, Zaporizkyi National University, Zaporizhzhia, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Z. Baranik, orcid.org/0000-0002-9753-4572, Kyiv National Economics University named after Vadym Hetman, Kiev, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O. Bondarenko, orcid.org/0000-0002-0387-3486, Kryvyi Rih Faculty of Zaporizhzhia National University, Kryvyi Rih, Ukraine, e­mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

K. Khavrova, orcid.org/0000-0001-9376-0700, Donetsk National University of Economics and Trade named after Mykhailo Tugan-Baranovsky, Kryvyi Rih, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

S. Kharabuga, orcid.org/0000-0001-9376-1702, International Academy of Personnel Management, Mariupol, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2020, (4): 130-139

https://doi.org/10.33271/nvngu/2020-4/130

повний текст / full article

 

Abstract:

Purpose. To determine specific aspects of the influence of components of ore mining enterprises’ production potential (evidence from the PJSC “Kryvyi Rih Iron Ore Works”) on financial efficiency of their activities and to establish a successful management strategy under local and global competitive conditions considering impacts of technological trends.

Methodology. Modeling and comparative analysis of econometric models of production potential development with and without considering scientific and technological progress factors, applying best practices of forecasting an enterprise’s financial results.

Findings. Additive and multiplicative models of influence of key components of production potential on the enterprise’s financial activity results in Kryvyi Rih region are developed, and efficiency of these models is analyzed. Special attention is paid to scientific and technological progress impacts on efficiency of the enterprise’s activities, and specificity of the impact is considered when developing the program of strategic development of the enterprise.

Originality. The econometric modeling apparatus is applied for the first time to study impacts of production potential factors on efficiency of financial activities of a Kryvyi Rih region enterprise considering scientific and technological progress factors. The results are subject to detailed economic-mathematical analysis and the built models are used for forecasting.

Practical value. The results obtained during the study are of practical value for managing large iron ore enterprises and can be used by them when developing strategic plans of managing their financial and operational activities.

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