FEATURES OF THE APPLICATION OF FINANCIAL STRATEGY AT THE ENTERPRISE

Autor: Sadigov Rahim Farahim
Rok vydání: 2021
Předmět:
Zdroj: Odessa National University Herald. Economy. 26
ISSN: 2664-696X
2304-0920
DOI: 10.32782/2304-0920/3-88-7
Popis: At present, the world economy is competitive. One of the main issues of increasing the competitiveness of industrial enterprises and sustainable development is the implementation of good governance strategies in the enterprise. One of the sub-issues of the management strategy is the financial strategy. To this end, we have chosen to conduct research to improve the company’s financial strategy. The purpose of the research is to conduct research in the field of improving the financial strategy, to provide scientific suggestions and recommendations in the field of improving the financial security of the enterprise. The methodology of the research is to conduct research in the field of formation of the right financial strategy to increase the competitiveness of the enterprise, the development of its economic and financial potential. Financial management is not just about shaping financial strategies. It is also a set of activities related to the planning, execution, financial control, accounting and reporting of the enterprise’s budget. Increasing the competitiveness of the enterprise leads to the strengthening of its market position, increasing its profitability and economic efficiency. The research was carried out in “EL Plastic” LLC. The research results can be used in the management of industrial enterprises. We have come to the conclusion from the research that these results reflect the main details of the formation and implementation of the financial strategy. The financial strategy applied in the enterprise is directly and indirectly exposed to the macroeconomic effects of the country. For this purpose, macroeconomic factors must be taken into account when determining the financial strategy of the enterprise. Having resources for the development of the enterprise, improving their use and expanding financial opportunities are the basis of the organization’s strategic activities. The financial strategy regulates the organization and implementation of this work, ensures the efficiency of management activities. Financial strategy requires planning of financial activity of the industrial enterprise, formation and implementation of mechanisms for attraction, use and control of financial resources. The financial strategy opens wide opportunities in the field of markets, sales and price management, expansion of the organization’s financial opportunities, achievement of high profitability.
Databáze: OpenAIRE
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