Issue: № 10/1, 2021
Doi: https://doi.org/10.37634/efp.2021.10(1).2
Introduction. While carrying out production, economic and foreign economic activities, domestic enterprises face important issues of ensuring their financial stability and effective management of the financial resources’ formation, distribution and use process. The purpose of the paper is to build a conceptual model for managing the financial resources of an enterprise in the implementation of foreign economic activity, which will allow for high-quality diagnostics of financial resources at the stages of their formation, distribution and use. Results. The influence of globalization processes on the functioning of domestic business entities provides for a periodic renewal of the mechanism and model for financial resources management. The main constituent elements of the model for managing the enterprise financial resources are characterized, namely: the aim and main objectives; subjects of financial resources management; technology of financial resources strategic management at the enterprise; factors of influence on the management processes and the system of ensuring the financial resources management of the enterprise in the implementation of foreign economic activity. The technology of the company's financial resources strategic management has been developed. A conceptual model for managing the financial resources of an enterprise in the implementation of foreign economic activity has been formed, which considers organizational, functional and information support. Conclusion. The application of the financial resource management conceptual model in the practical activities of enterprises will ensure the achievement of the goals and objectives of the enterprise, contribute to the improvement of its financial condition and the movement of financial flows, as well as allow alternative management decision-making on the formation and implementation of the strategy for managing the financial resources of the enterprise in the conditions of new foreign markets development.
Keywords : financial resources, financial resources management, conceptual management model, financial management
References:
1. Blyzniuk O.P. Theoretical approaches to defining the essence of an enterprise's financial resources. Economic strategy and prospects for the development of trade and services. 2016. Issue. 2. pp. 24–30. URL: http://nbuv.gov.ua/UJRN/esprstp_2016_2_6 (in Ukrainian).
2. Buhas V.V., Koval A.A. Management of financial resources of the enterprise. Modern Economics. 2020. No 19(2020). pp. 32–34. DOI: https://doi.org/10.31521/modecon.V19(2020)-05 (in Ukrainian).
3. Hromova A.Ye. Formation of a mechanism for managing the financial resources of an enterprise. Bulletin of Khmelnytskyi National University. 2017. Vol. 1. pp. 74–77 (in Ukrainian).
4. Dobryn S.V. Organization of the enterprise financial resources management system. Investment: practice and experience. 2015. № 10. pp. 37–40 (in Ukrainian).
5. Dropa Ya.B. The concept of modernization of financial resources management for the development of the national economy of Ukraine. Black Sea Economic Studios. 2019. Issue 37. pp. 191–198. URL: http://nbuv.gov.ua/UJRN/bses_2019_37_37 (in Ukrainian).
6. Kipa M.O. Structural and functional model of enterprise financial resources management. Investment: practice and experience. 2015. No 22. pp. 116–124 (in Ukrainian).
7. Kondratenko N.O., Novikova M.M., Spasiv N.Ya. Development of a system of financial resources adaptive management at the enterprise. P.78–84. URL: https://www.problecon.com/export_pdf/problems-of-economy-2021–1_0-pages-78_84.pdf (in Ukrainian).
8. Romashko O.M., Baryliak V.O. Theoretical foundations of the formation of a mechanism for managing the financial resources of an enterprise. Business Inform. 2019. No. 5. pp. 180–184. URL: https://doi.org/10.32983/2222–4459–2019–5–180–184 (in Ukrainian).
9. Shyshkina O.V. The mechanism for managing financial risks of industrial enterprises: theory, methodology, practice: monograph. Chernihiv: ChNTU. 2020. 318 p. (in Ukrainian).