Open AccessFormation of the enterprise financial resources management conceptual model in the process of foreign economic activity implementation
Author(s) -
Maryana Bortnikova,
Yuliia Chyrkova
Publication year - 2021
Publication title -
ekonomìka, fìnansi, pravo/ekonomìka. fìnansi. pravo
Language(s) - English
Resource type - Journals
eISSN - 2786-5517
pISSN - 2409-1944
DOI - 10.37634/efp.2021.10(1).2
Subject(s) - strategic financial management , business , accounting management , financial management , digital firm , enterprise relationship management , enterprise life cycle , finance , process management , enterprise software , knowledge management , accounting , strategic planning , marketing , computer science , accounting information system , customer retention , service quality , service (business)
. 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.