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The organization approaches peculiarities of an industrial enterprises financial management

Author

Listed:
  • Dudin, Mikhail

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Academy of Entrepreneurship)

  • Ljasnikov, Nikolaj

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Academy of Entrepreneurship)

  • Yahyaev, Magomedsaid

    (The Russian academy of enterprise)

  • Kuznetzov, Aleksandr

    (Moscow university of economics, policy and law)

Abstract

The actuality of a given research consists in a fact that a production plants financial management, under unstable and turbulently changing environment is exposed to transformation determining new peculiarities and specificity appearing. The aim of a given research is to find the financial management organization approaches in industrial production plants which are large corporate structures. Within the made research the following basic conclusions where made: - industrial plants financial relationships are characterized by multiplicity and multidimensionality of outer and inner connections which considerably increase the financial management risks. At the same time for financial and strategic development planning and modeling the new strategic development perspective development opens up on the basis of the current and potential risks; - an industrial plants financial management is a systematic process which has a strategic target setting and planning, organization, control, motivation, adaptation, coordination, prediction which are implemented by means of the basic management functions. Coordination, adaptation and prediction functions have the most important sense while possibilities and threatens connected with them are to be found. These functions determine further direction structuring of a plant evolving taking into account newly environment circumstances being opened; - the industrial plant financial management should be aimed at a stable intensive economic growth providing. Thereby, an industrial plants financial management is determined by total management efforts in operational and investing activity; - an industrial plants financial management should be based on an integrative-functional approach which allows to maximize economic profits and optimize loses. It provides an economic value forming as a result of a given market participant activity.

Suggested Citation

  • Dudin, Mikhail & Ljasnikov, Nikolaj & Yahyaev, Magomedsaid & Kuznetzov, Aleksandr, 2014. "The organization approaches peculiarities of an industrial enterprises financial management," Published Papers 9, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:ppaper:dud9
    Note: Published in "Life Science Journal", #9'2014
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    References listed on IDEAS

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    1. Paul Geroski & Klaus Gugler, 2004. "Corporate growth convergence in Europe," Oxford Economic Papers, Oxford University Press, vol. 56(4), pages 597-620, October.
    2. Dudin, Mikhail & Ljasnikov, Nikolaj & Baranenko, Sergej & Busygin, Konstantin, 2014. "Use of environmental approach to innovation-oriented development of industrial enterprises," Published Papers dud4, Russian Presidential Academy of National Economy and Public Administration.
    3. Toby E. Stuart, 2000. "Interorganizational alliances and the performance of firms: a study of growth and innovation rates in a high‐technology industry," Strategic Management Journal, Wiley Blackwell, vol. 21(8), pages 791-811, August.
    4. Dudin, Mikhail & Ljasnikov, Nikolaj & Pankov, Sergej & Sepiashvili, Ekaterina, 2013. "Innovative Foresight as the Method for Management of Strategic Sustainable Development of the Business Structures," Published Papers dud2, Russian Presidential Academy of National Economy and Public Administration.
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    Cited by:

    1. Dudin, Mikhail & Sekerin, Vladimir & Smirnova, Olga & Frolova, Evgenia & Sepiashvili, Ekaterina, 2014. "State Anti-Crisis Management of Banking Sector: Looking for Optimization Ways and Contemporary Development Trends," Working Papers dudnov, Russian Presidential Academy of National Economy and Public Administration.
    2. Dudin, Mikhail & Frolova, Evgenia, 2015. "The Balanced Scorecard as a basis for strategic company management in the context of the world economy transformation," Published Papers dud12, Russian Presidential Academy of National Economy and Public Administration.

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