, Troyanovskaya N., Dmitrieva V.A., Mudrenko A.A.
Oles Honchar Dnipropetrovsk National University, Ukraine
APPROACHES TO MODELING ECONOMICAL POTENTIAL OF ENTERPRISES
The effectiveness of economic potential is an important competitive advantage of every enterprise. The category of «economic potential» has been in the interest of many economists in the last few years. In most works of the scientists who investigate this issue, the importance of studying the problems of a potential assessment is observed and there are significant differences in the definition of the term potential, its nature, composition and correlation with other categories.
There are different methods in modeling and assessment of enterprise economic potential which depend on the approach used to clarify its nature. Today the concept of «potential» determines the level and ability of economic systems to develop, restore and adapt to the changes of the external conditions. In the modern researches of economic potential there are different methods and approaches which identify several areas of study: resource, effective, productive, management.
The reason is that the concept of potential is complex and multidimensional, as the economic facilities at which it is applied. In other words, potential is a research model, with the help of which a complex economic system is studied.
The most important internal factors that influence the value of company’s economic potential are: time factor, production and sales volumes, cost of sales, margin and the structure of gross income, the amount of working capital, the cost of fixed assets and the cost of raising capital. The first six listed factors affect the amount of cash flow.
Effective management requires assessment of the existing capacity that is sensitive to the transformation of the internal and external environment of an enterprise. The role and importance of economic potential of industrial enterprises are to find and implement internal sources of the development to ensure an enterprise stable operation. Creation and application of a model depends on the research approach, the purpose of evaluation, the type and completeness of initial information, the specific components of estimated economic potential of enterprises and other factors.
The analysis of the existing models as well as theoretical and methodological approaches which help to assess the economic potential of enterprises has shown that the most common is a static model of potential which is based on the achieved financial and economic values of an enterprise. Moreover, the potential possibilities of producing material benefits and services can be studied as well. In this case, we should assess either the total amount of economic potential or its active parts.
The extent of economic potential can be represented as an interval estimate (e.g., annual), or a point (total) one for the entire period which covers an average business cycle.
A researcher can simulate the behavior of a business entities as a function while describing it as a complex system. It is known that the function of the system can be represented as quantitative or qualitative functionals. The quantitative functional depends on the features that describe internal processes. The quality one helps to range certain categories of internal processes from «best» to «worst». In our opinion economic potential can be described as a efficiency functional from set of interrelated characteristics (features) of the study as a system. In other words, if labor, marketing, financial, investment, innovation, technical and technological, resource, management capabilities are functions that describe its functioning from different positions, then economic potential is the efficiency functional from these functions. Mathematically, this can be represented as the following:
,
where P is economic potential as an impairment functional; F is a production functional (as a utility functional from the sale of production capacities); Y is a functional of a production quality; U is a management functional; I is an investment functional; M is a marketing functional, etc. These functionals could be described as the following:
where X is input data, which describe a specified activity (characteristics of the a subsystem object) – 
is an initial state, 
is the time it took to realize work, 
is data of an external influence; E is an outcome or effectiveness.
The use of the efficiency functional in economy is always associated with the concept of utility. The extent of potential can be represented as the theoretical (ideal) point or set of parameters, which the system tries to achieve during its life cycle. The presence of cyclicity in the development of any economic system is conditioned by the frontier or marginal utility of a function, which the system must follow. As long as the system has not reached the threshold value, it has potential to develop. All existing models prove this theory. Enterprise is a multidimensional economic system, hence the usefulness of this system and its economic development potential, always depend on the set of factors, both internal and external.
Literature:
1. Лапин Е.В. Оценка экономического потенциала предприятия: монография / Е.В. Лапин. – Сумы: ИТД «Университетская книга», 2004. – 360с.
2. Митрофанов Г.В. Фінансовий аналіз: навч. посіб. / Г.В. Митрофанов, Г.О. Кравченко, О.Ю. Большакова. – К.: КНТЕУ, 2002. – 301с.
3. Портер М.Э. Конкуренція: пер. з англ./ М.Э. Портер. – М., 2000. – 285с.