FEATURES OF ENTERPRISE MANAGEMENT USING SCIENTIFIC METHODS OF INTERNATIONAL MANAGEMENT


Keywords: enterprise management, financial management of foreign economic activity, functions.

Abstract

Topicality. One of the modern features is the growth of economic interdependence of countries in the context of globalization and diversification of commodity, financial, investment and other markets. This trend determines the specifics and features of the development of foreign economic activity, which plays a crucial role in strengthening international integration processes. In the researched scientific works considerable attention is paid to the organization of foreign economic activity, research of aspects of efficiency of management of foreign economic activity.
Aim and tasks. In view of this, the main purpose of the study is to systematize approaches to determining the financial management of foreign economic activity and outlining its own vision for the realities of the domestic economy.
Research results. Financial management as a system of principles, means and forms of organization of monetary relations of the enterprise, aimed at managing its financial and economic activities, which include: development and implementation of financial policy of the enterprise; information support; evaluation of investment projects and formation of a "portfolio" of investments; current financial planning and control. Evaluation of investment efficiency is central to the process of justification and selection of possible options for investing in investment projects, and therefore is the key to successful investment activities. Among these tools the author singles out: financial planning of financial flows; purchase and sale of currencies to service various transactions; purchase and sale of shares and other securities on international financial markets; operating with own securities in foreign markets; currency risk management. In the scientific literature we also emphasize the concept of international financial management, which is interpreted as a system of economic decisions arising from the implementation of financial management in the internationalization of economic activity of the firm. In our opinion, the proposed definition is too narrow for the concept of international financial management, but it can be used to define the concept of financial management of foreign economic activity. Thus, the concept of financial management of foreign economic activity combines three categories, namely finance, management and foreign economic activity.
Conclusion. Management of investment attractiveness of domestic enterprises is based on the analysis of indicators of financial condition, while effective management of financial activity of the enterprise is provided by realization of the basic principles of financial management as a component of the general management of the enterprise. Our study is determined by sound recommendations and suggestions for improving modern methods and introducing more modern approaches to improving the efficiency of enterprise management in the international arena.

Author Biographies

А.I. PLYASKINA

PhD in Economics,
Associate Professor at the Department of Foreign Economic Activity,
Kherson National Technical University
Beryslavskoe highway, 29, Kherson, Ukraine, 73008

K.V. PIGOL

student
Kherson National Technical University
Beruslawske highway, 24, Kherson, Ukraine, 73008

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Published
2021-08-20
How to Cite
PLYASKINAА., & PIGOL, K. (2021). FEATURES OF ENTERPRISE MANAGEMENT USING SCIENTIFIC METHODS OF INTERNATIONAL MANAGEMENT. Economic Innovations, 23(3(80), 286-290. https://doi.org/https://doi.org/10.31520/ei.2021.23.3(80).286-290