Open AccessTOOLS FOR IMPROVING THE MANAGEMENT OF FOREIGN ECONOMIC ACTIVITY OF THE ENTERPRISE
Author(s) -
Victoria Yevtushenko,
Марина Кудінова,
Eleonora Hryhorova
Publication year - 2021
Publication title -
bìznes-navìgator
Language(s) - English
Resource type - Journals
eISSN - 2707-6172
pISSN - 2522-4751
DOI - 10.32847/business-navigator.65-11
Subject(s) - business , profit (economics) , profitability index , economic stability , market economy , economic system , economic policy , economics , finance , keynesian economics , microeconomics
The article is devoted to the search for tools to improve the management of foreign economic activity on the example of one of the Ukrainian enterprises operating in the field of rail freight transport. Uneven distribution of natural resources and many other factors have led to the emergence of foreign economic activity, which involves the exchange of goods, services, technologies, experience and more between countries. In this regard, the management of foreign economic activity for many years is one of the most important aspects of effective organization of any enterprise. Volumes of output and sales, profit, profitability and financial stability, as well as other indicators of companies operating in foreign markets, largely depend on the political situation, the state of legislation, exchange rate, government regulation in foreign economic activity. Ukraine’s transition to a market model of the economy also plays a significant role, which encourages domestic economic entities to improve the management of foreign economic activity. The urgency of this issue is also confirmed by the fact that without the development of foreign trade management, the implementation of economic activities of many organizations will be impossible due to the lack of positive economic effect. In addition, today foreign economic activity remains one of the ways to replenish the country's resources and is developing rapidly. Almost all modern enterprises try to cooperate with foreign companies, respectively, for each of them a very important issue is the correct construction of processes related to foreign trade. The article reveals the essence and main characteristics of foreign economic activity, describes the direct and indirect method of organizing the management of foreign economic activity, their advantages and disadvantages, provides a brief description of the company on which the study was conducted, and offers several tools to improve foreign trade management. At domestic and foreign enterprises. In addition, considerable attention was paid to foreign economic strategy, which reflects the behavior of enterprises in the international arena and one of the main components of the organization, which needs constant monitoring and improvement.