VALUE-ORIENTED MANAGEMENT OF ENTERPRISE FINANCES
Abstract
The article examines the modern specifics of the formation of approaches to value-oriented management of enterprise finances. The objective necessity of the transformation of approaches to financial management of business entities in the conditions of the formation of a new paradigm of financial management has been determined. It is proven that the intensification of the introduction of new information and digital technologies into the enterprise management system, which is taking place in the global process of forming the digital economy, requires the reorientation of the financial flow management system in business processes to the principles of business value assessment in the financial management system in general. The effectiveness of the influence of modern concepts of value-oriented management on the profitability of economic entities in the planning period is determined. The components of the process of value-oriented management and their components have been studied, as well as the modern specifics of adapting these components to the processes of managing financial flows of business entities. A scheme for adapting value-oriented financial management to modern business processes at all their stages is proposed. Modern features of managing the financial activities of enterprises show that traditional approaches based on static analysis of financial indicators or normative indicators of financial flows do not always work in the current conditions, when the flow of data on all aspects of the financial activities of enterprises and the market is significantly increasing. The consequence of this is, on the one hand, the complication of the analytical apparatus necessary for making effective decisions regarding the financial management of an economic entity, and on the other hand, the growing need to develop methods and principles of financial management of enterprises that are more adapted to today, based not only on financial analysts, but also provide for a comprehensive assessment of all business processes. Thus, there is an objective need to find new solutions for balancing rapid financial flows and their effective management. Solving this problem within the framework of traditional financial management may not always be effective, taking into account the systemic complication of business processes, when it is not enough to achieve the established standards for the cost of production or the turnover of working capital in order to achieve the profitability of the enterprise.
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