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

User Rating:  / 0


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

Z. Baranik,, 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,, 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,, 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,, 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

повний текст / full article



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.


1. Maksymova, O. S., Maksymov, S. V., & Temchenko, H. V. (2016). Optimization of the production program of the enterprises of the mining and metallurgical complex. Ekonomichnyi analiz: zb. nauk. Prats, 23(2), 93-101.

2. Hrabchuk, O. M., & Plaksiienko, V. Ya. (2017). Instruments of innovation policy of industrial enterprises. Ekonomika ta derzhava, (2), 11-15.

3. Lapina, I. S., & Dombrovs’ka, S. O. (2017). Adaptation of the enterprise financial strategy to the current conditions in Ukraine. Naukovyi Visnyk Khersonskoho Derzhavnoho Universytetu. Seriia “Ekonomichni nauky”, 25(Part 1), 138-142.

4. Haievs’ka, L. M. (2018). Toolkit of information and analytical resources. “Modern Economics”: naukove fakhove vydannia z ekon. Nauk, (9), 6-13.

5. Kostyrko, R. O. (2015). Integrated corporate social responsibility reporting. Naukovyi Visnyk Uzhhorodskoho Universytetu. Seriia “Ekonomika”, 1(45), vol. 2, 305-310.

6. Pererva, P. H., Kobielieva, T. O., & Tkachova, N. P. (2015). Increasing the competitiveness of machine-building enterprises on the basis of synergistic benchmarking. Visnyk Natsionalnoho Universytetu “Lvivska Politekhnika”. Seriia: Menedzhment ta Pidpryiemnytstvo v Ukraini: etapy stanovlennia i problemy rozvytku: zbirnyk naukovykh prats’, (819), 167-174.

7. Zhuk, O. Ye. (2014). Production potential as a factor of enterprise development under uncertainty. Visnyk Khmelnytskoho Natsionalnoho Universytetu, 3(3), 207-211.

8. Shkromyda, N. Ya. (2014). Stakeholders as the main factors influencing the economic potential of the enterprise: the need for their accounting and analysis. Visnyk Prykarpatskoho Universytetu. Seriia: Ekonomika, 10, 83-87.

9. Azhaman, I. A. (2018). The essence and structure of the economic potential of the enterprise. Ekonomika ta derzhava, (4), 22-25.

10. Prokhorova, V., Protsenko, V., Bezuglaya, Y., & Us, J. (2018). The optimization algorithm for the directions of influence of risk factors on the system that manages the potential of machine-building enterprises. Eastern-European Journal of Enterprise Technologies, 4(1-94), 6-13.

11. Karachyna, N. P., Moroz, O. V., & Bal’zan, M. V. (2015). Economic evaluation and management of machine-building enterprise activity on the basis of quality growth: monograph. Vinnytsia: VNTU.

12. Yankovyi, O. H., Honcharov, Yu. V., Koval, V. V., & Lositska, T. I. (2019). Optimization of stock based on production functions in the economic model of production. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, (4), 134-140.

13. Donchenko, V. S., & Nazaraha, I. M. (2016). Finding the pace of scientific and technological progress of the Ukrainian economy. Naukovyi Visnyk Chernivetskoho Universytetu. Kompiuterni systemy ta komponenty, 7(1), 86-91.

14. Yakovyshyna, N. A., & Yakovenko, K. A. (2018). Theoretical basis of accounting for fixed assets. “Molodyi vchenyi”: naukovyi zhurnal, 5(57), 779-782.

15. Skyba, H. V. (2016). The current state of scientific and technical potential of Ukraine: domestic realities and foreign experience. Visnyk Khmelnytskoho Natsionalnoho Universytetu, (6), 210-216.

16. Vakaruk, T. S. (2014). State regulation and forecasting of national economy development. Ekonomichnyi Nobelivskyi Visnyk, 1(7), 66-75.

17. Bobko, L. O. (2018). The current state of development of innovation activity of enterprises. Suchasnyi rukh nauky: tezy dop. II mizhnar. nauk.-prakt. Konferentsii, (pp. 35-39). Dnipro.

18. PAT “Krivorizkyi zalizorudnyi kombinat” (n.d.). Retrieved from


This Month
All days

Guest Book

If you have questions, comments or suggestions, you can write them in our "Guest Book"

Registration data

ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.


D.Yavornytskyi ave.,19, pavilion 3, room 24-а, Dnipro, 49005
Tel.: +38 (056) 746 32 79.
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
You are here: Home