COMPETITIVENESS OF ENTERPRISES AND THE PRINCIPLES OF ITS FINANCIAL SUPPLY

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COMPETITIVENESS OF ENTERPRISES AND THE PRINCIPLES OF ITS FINANCIAL SUPPLY

Journal Title: Проблеми системного підходу в економіці - Year 2018, Vol 5, Issue 67

Abstract

One of the key categories in a market economy is competitiveness because its level determines the success or failure of the business entity. Today, each enterprise faces a problem of forming competitive advantages and raising the level of competitiveness in order to strengthen the competitive position in the market. Research on the issues of competitiveness management has been reflected in the publications of the classics of economic science: J. Galbraith, J. Keynes, J.B. Clark, K. Marx, A. Marshall, W. Eucken, A. Smith, P. Samuelson, F. Hayek, J. Schumpeter, and others. A solid study of the theoretical foundations and practical issues concerning the formation of the competitiveness of domestic enterprises was carried out by such well-known economists as: V. Bazylevych, P. Haidutskyi, A. Halchynskyi, O. Hudz, M. Demianenko, M. Malik, O. Nykoliuk, N. Pedchenko, P. Sabluk, and others. The article generalizes theoretical approaches to the essence of the category of "competitiveness of enterprises". The interpretation of the definition of "competitiveness", presented as an economic category and phenomenon, which is the ability of the subject to increase real incomes by preserving their own preferences in the market environment, where the basic requirements are more effective than analogical enterprises, is proposed. more effective types and combinations of resources; the use in the production process of innovative technologies, and the ability to quickly adapt to global economic integration. The expansion of the list of principles of financial support of competitiveness is substantiated. Thus, a wellknown system of principles: competitive advantage, the formation of sources of financial resources, efficient allocation of financial resources, harmonization of price policy, optimization of financial flows, choice of long-term goals, strategy specialization, strategy security, strategy flexibility, supplement with the principle of "financial strategy of internationalization", which will give the opportunity to take into account the possibility of achieving the benefits of internationalization. In the article, the list of principles of financial support of competitiveness of agricultural enterprises is proposed, in contrast to the known ones, such as: competitive advantage, formation of sources of financial resources, efficient allocation of financial resources, harmonization of price policy, optimization of financial flows, choice of long-term goals, strategy specialization, strategy security, the flexibility of the strategy, to be supplemented by the principle of “financial strategy of internationalization”, which will enable to take into account the possibilities of achieving the advantages of internationalization.

Authors and Affiliations

O. V. Kovalenko, Ya. O. Goloborodko

Keywords

EP ID EP512254
DOI 10.32782/2520-2200/2018-5-10
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