Actual problems of innovative economy and law

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Elements of the strategy to strengthen the financial and economic sustainability of the enterprise

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УДК: 658.1

DOI: https://doi.org/10.36887/2524-0455-2021-4-14

Шушкова Юлія Володимирівна,
доктор економічних наук, доцент, Львівський
національний університет імені Івана Франка
ORCID ID: 0000-0003-3836-7548
Парфенюк Євгенія Іванівна,
кандидат економічних наук, доцент,
Львівський інститут ПрАТ «ВНЗ «МАУП»
ORCID ID: 0000-0003-1308-0348

The article considers the aspects of managing the financial and economic condition of enterprises. In particular, the aspect of ensuring the stable proper financial and economic condition of the business entity, as its financial and economic viability is considered. The purpose of the article is to substantiate the composition and content characteristics of strengthening the financial and economic viability of the enterprise. In market conditions, the main prerequisite and basis for sustainable development is the proper financial and economic condition of economic entities, in which the company, firstly, is cost-effective and provides a proper return on investment in business capital; secondly, freely maneuvers financial assets, capable of their efficient use to ensure a smooth process of production and sales. Financial and economic viability means the state of the financial and general economic system of the enterprise, in which the enterprise is adequately provided with financial and other economic resources, effectively uses them and provides expanded reproduction, protected from internal and external financial and economic risks and threats. The main requirements to the management system to ensure the financial and economic viability of the enterprise are determined. The sequence of the set formation of strategic priorities at the business entity to strengthen its viability in a competitive environment is substantiated. The main elements of the strategy of strengthening the viability of the enterprise are identified and characterized, their characteristics are given and the sequence of implementation is indicated. The applied significance of the research results is that the implementation of the developed recommendations allows to ensure the proper financial and economic condition of the business entity, its financial and economic security, as well as high resistance to high financial and economic risks, threats and competition. The scientific novelty of the research results is the formation of a fundamentally new approach to building a system of elements of financial and economic viability.

Keywords: financial and economic condition, business viability, financial management, enterprise development, strategic management.

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The article was received 15.05.2021