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The influence of human factor on financial sustainability of agricultural production

Author

Listed:
  • Petr Ogorodnikov

    (Orenburg Branch of the Institution of the Russian Academy of Sciences)

  • Vsevolod Perunov
  • Valentina Chirkova

    (Orenburg Branch of the Institution of the Russian Academy of Sciences)

Abstract

The analysis of functioning of complex production systems in agroindustrial sphere — large crop farms and livestock farms — shows that the basis for dynamic development of their productive activities is based on a reliable and stable operation of the complex biotech (human-machine) systems. Urgent problems, whose solution promotes a dynamic and efficient operation of complex biotechnological systems, are to create mathematical models of the total biotech system, allowing sufficiently informatively guide the work of major agricultural organizations. This paper discusses an alternative methodological approach to assessing and forecasting financial sustainability of an enterprise. An important place among the factors that shape the financial stability of the economic entity, takes the human factor (decision maker). Financial sustainability of the enterprise is seen from the perspective of bio-approach that includes elements of the system MME (man, machine, and environment). This approach improves the results when evaluating the adequacy of the financial stability of companies in various states of the economy. Newly developed approaches and mathematical models to manage systems of biotechnology make it possible to significantly increase the productivity of animals, crop production and the level of socio-economic status of people in the country.

Suggested Citation

  • Petr Ogorodnikov & Vsevolod Perunov & Valentina Chirkova, 2012. "The influence of human factor on financial sustainability of agricultural production," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 232-239.
  • Handle: RePEc:ura:ecregj:v:1:y:2012:i:2:p:232-239
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    Cited by:

    1. Ivana Kravčáková Vozárová & Rastislav Kotulič & Roman Vavrek, 2020. "Assessing Impacts of CAP Subsidies on Financial Performance of Enterprises in Slovak Republic," Sustainability, MDPI, vol. 12(3), pages 1-18, January.

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