c.ph.s, docent Moiseeva F.A., Kolotii V.A.
Donetsk national university of economics and trade
Sustainable Development as the
Indicator of Enterprise Potential
Crisis-free
functioning of the national economy is possible with the transition of all of its
industries to sustainable development. In return, the sustainable development of
the industry can be achieved only with the help of effective operation of
primary parts of economic systems, i.e. enterprises.
It
should be noted that in the existing unfavorable external conditions of
enterprises operation, i.e. economic crisis, imperfection of legislative
framework, rise of bank interests, tax screw and so on, improvement of
enterprise management becomes more important. The lack of appropriate economic
management mechanism and the instruments of influences on business units
significantly slows down the economic development of the country.
Enterprise
management is more often faced with complications during the choice of strategic
directions of enterprise operation, taking into account all peculiarities of
economic management and financial activities, which will allow the enterprises
to adapt to fast-changing environment and to survive in difficult conditions.
The
sustainable development of an enterprise is influenced by external as well as
internal factors, affecting the enterprise operation.
The
external factors include:
- industrial
policy of a state;
- competition
on the goods market;
- information environment;
- development
of the production cooperation system;
- legal
support of the business;
- investment
and innovation climate;
- access
to the resources;
- budgeting
and financing support.
The
internal factors include:
- finance
indicators;
- equipment
state;
- technology
state;
- personnel
potential;
- the level
of management and technology organization;
- the level
of innovation potential development.
This is
the stability of enterprise operation, which consists in its ability to adapt to
the changes of internal and external factors and to resist these changes,
ensuring the enterprise stable development in accordance with the set goals.
The
enterprise financial performance is of decisive importance for strategic
sustainable development of the enterprise. For its assessment it is necessary to
define the enterprise stability, i.e. the correlation between its production
stock and owned circulating assets, including short-term banking credits,
temporary available owned and other attracted funds. In this case the
absolutely stable enterprises are those, whose production stock is less than
the amount of the owned and attracted circulating assets.
For a
more accurate assessment of the enterprise state it is necessary to trace the
following indicators:
- autonomy
factor;
- liquidity
ratio;
- flexibility
factor;
- circulating
assets ensuring factor;
- funding
ration;
- profitability factor.
The change of threshold values of the above-mentioned indicators leads to the violation of the normal operation of an enterprise and consequently to the negative results of industrial and economic activity.
It should be noted that in order to ensure economically stable development the
enterprises should develop their innovation potential and maintain it at the
top level.
Essentially,
the investing potential, first of all, is a characteristic of a resource base and
the innovation potential shows how it is ready to perform the tasks, which
ensure the achievement of the set goal for sustainable development in the
changing conditions.
The enterprise
innovation potential defines the opportunities and the depth of innovation
transformations. In order to assess the innovation potential of an enterprise
the following group of indicators can be used:
- indicators
of the personnel, involved in innovation projects: the number and qualification
of the specialists; the amount and quality of the specialists’ training;
- material
and technical indicators: expenses on scientific and technical researches,
research and development works, commercialization of innovations;
progressiveness of production base;
- informative
indicators: quantity and quality of the information collection, used in the innovation
activities, of the possibility and quality of the information distribution,
satisfaction of the specialists with the information;
- resulting
indicators of innovation activities, which characterize their reasonability.
Low activity
of enterprises in the implementation of innovation developments of external sources
is the result of the poor development of the market infrastructure and the
infrastructure of technologies exchange and it is also defined by the
peculiarities of the national scientific and technological policy.
The absence
of effective methods and forms of management by innovation resources requires the
reformation of intercompany policy in the sphere of innovations, reassessment
of the owned innovation potential and the systemic analysis of the external
environment.
The transition
to post-crisis development and effective operation of enterprises are possible if
the main part of manufacturers and market consumers will timely form the resources
of sustainable development as well as draw the appropriate programs of the
development on the basis of self-control and economic feasibility.