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Financial Monitoring in the System of Strategic Management of Enterprise
Voronina O. O.

Voronina, Olena O. (2019) “Financial Monitoring in the System of Strategic Management of Enterprise.” Business Inform 6:265–269.
https://doi.org/10.32983/2222-4459-2019-6-265-269

Section: Management and Marketing

UDC 338.242.2

Abstract:
The publication discusses the issues of organization of financial monitoring - a considerably new method of scientific-practical activity, the purpose of which is to obtain and process warning information about the status of enterprise and tendencies of its development. Essence of concepts of «strategy» and «strategic management» is clarified; components of the decision-making cycle in the implementation of the enterprise’s strategy are allocated. It is specified that financial indicators only estimate the economic impact of the measures taken and are the indicators of compliance of the strategy with the overall plan of the enterprise’s development. In these terms the need for carrying out financial monitoring is substantiated together with its objectives and tasks. The organization of financial monitoring (which provides for displaying changes in the financial performance of firm not only regarding their compliance with the previously defined strategic guidelines, but also in creating an operational response mechanism for an efficient management of the long-term development of enterprise) is a direction of further analysis. It is concluded that in order to implement the sustainable development strategy of enterprise, one of the key directions of strategic management should be a regular, effective and flexible financial monitoring mechanism for obtaining an adequate estimate of the financial condition and supporting for the strategic orientation alternatives.

Keywords: strategy, strategic management, financial monitoring, enterprise.

Fig.: 1. Bibl.: 10.

Voronina Olena O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economic Theory and International Economy, O. M. Beketov National University of Urban Economy in Kharkiv (17 Chornohlazivska Str., Kharkіv, 61002, Ukraine)
Email: [email protected]

List of references in article

Korniichuk, T. V. “Monitorynh v systemi upravlinnia finansovym potentsialom pidpryiemstva“ [Monitoring in the system of management of the financial potential of the enterprise]. Investytsii: praktyka ta dosvid, no. 13 (2018): 26-31.
Belopolska, T. V. “Napriamky finansovoho monitorynhu v systemi upravlinnia“ [Areas of financial monitoring in the management system]. Ekonomika: realii chasu, no. 1 (2012): 38-41.
Burova, T. A. “Teoretychni osnovy rozvytku monitorynhovykh i diahnostychnykh system v upravlinni pidpryiemstvom“ [Theoretical foundations of the development of monitoring and diagnostic systems in the management of the enterprise]. Efektyvna ekonomika. 2012. http://www.economy.nayka.com.ua/?op=1&z=1134
Zhadko, K. S. “Praktychni osnovy pobudovy i instrumentarii modelei monitorynhu, diahnostyky i kontroliu diialnosti pidpryiemstv“ [Practical bases of construction and tools of models of monitoring, diagnostics and control of activity of enterprises]. Efektyvna ekonomika. 2014. http://www.economy.nayka.com.ua/?op=1&z=3072.
Tryhobiuk, S. S. “Diahnostyka vnutrishnyoho seredovyshcha pidpryiemstva v systemi stratehichnoho planuvannia“ [Diagnostics of the internal environment of the enterprise in the system of strategic planning]. Visnyk Natsionalnoho universytetu «Lvivska politekhnika», no. 669: Lohistyka (2010): 146-152.
Kleyner, G. B. “Sushchnost i struktura strategii predpriyatiya“ [The essence and structure of the enterprise strategy]. Voprosy teorii, no. 6 (2008): 114-130.
Sapelnikova, N. L., and Vozniuk, Ya. S. “Sutnist stratehichnoho upravlinnia“ [The essence of strategic management]. Menedzher, no. 3 (2016): 52-59.
Matskevich, Yu. I. “Efektyvni mekhanizmy finansovoho monitorynhu v systemi stratehichnoho upravlinnia pidpryiemstvom“ [Effective mechanisms of financial monitoring in the system of strategic enterprise management]. Pratsi Odeskoho politekhnichnoho universytetu, no. 3 (2011): 100-106.
Ovsiannikov, S. V. “Finansovyi monitorynh yak instrument staloho rozvytku pidpryiemstva“ [Financial monitoring as a tool for sustainable development of the enterprise]. Terytoriia nauk, no. 4 (2015): 196-202.
Vostriakov, O. V., and Hrebeshkova, O. M. Stratehichne upravlinnia pidpryiemstvom. Biznes-kurs [Strategic management of the enterprise. Business course]. Kyiv: KNEU, 2014.

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