Methodical approaches to the economic efficiency of entrepreneurial activities

Issue: № 5, 2020

Doi: https://doi.org/10.37634/efp.2020.5.6

Іntroduction. Economic efficiency of entrepreneurial activity is one of the most important criteria that are associated with the achievement of strategic goals in the development of the enterprise. The main problem in evaluating and applying cost-effectiveness tools is to obtain the best financial results through the use of all available resources. The purpose of the paper is to investigate the problems and generalize those concepts that are related to the choice of methodological approaches and directions of development of economic efficiency of entrepreneurial activity. Results. The paper analyzes of modern methods of estimation of economic efficiency of business activity is made. Problems and shortcomings were identified as well as the implications of using these methods. The concept of economic and social efficiency is elaborated and disclosed, as well as the essence of theoretical and practical aspects on estimation of the enterprise activity efficiency is revealed. Characterization of methodological approaches and methods themselves was also carried out. The analysis on the use of modern methods of performance evaluation in the context of modern development of Ukrainian enterprises is carried out. Positive and negative aspects of application of modern methods of estimation of efficiency of activity of the enterprise were revealed. Priorities of development of methods of estimation of efficiency on the conditions of adaptation taking into account development of market relations are also investigated. Conclusion. Thus, the analysis of modern methods of assessing the economic efficiency of entrepreneurial activity at the present stage makes it possible to conclude that the valuation methods used have positive and negative factors. The conducted research revealed problems in the application of modern methods in practice in business activity.

Keywords : enterprise, methodical approaches, modern methods, results of activity, economic efficiency, social efficiency, estimation of efficiency of business activity

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