ORGANIZATIONAL AND ECONOMIC APPROACHES TO FINANCIAL DEVELOPMENT OF CONSTRUCTION ENTERPRISES

  • Oleksandr Lanyo
Keywords: construction companies; financial development; project approach, financial development criteria, stakeholder groups, organizational measures, risks

Abstract

Introduction. On the one hand, the financial development of industrial enterprises is conditioned by a number of traditional measures, which include: reduction of production costs; improving the quality of products; expanding the product line and increasing the level of service in order to maximize compliance with consumer demand. However, on the other hand, due to the specifics of the construction sector, the issue of financial development of such enterprises requires a comprehensive approach, not limited to the field of internal management, but also to consider this issue from the standpoint of institutional and organizational and economic impact.
The purpose. The purpose of the article is to highlight the quantitative features of the financial development of enterprises in the construction industry and a description of promising organizational and economic measures of influence.
Results. The article substantiates the features of the study of activities in the field of construction according to the project approach. The peculiarities of the institutional structure of the investment and construction complex of the economy are specified. Based on the theory of stakeholders, a comprehensive system of criteria for financial development of construction companies in terms of stakeholder groups has been formed.
Conclusions. The organizational measures to ensure stable financial development of domestic construction companies have been identified. These include: implementation of integration processes with suppliers of raw materials; use of innovative knowledge-intensive technologies of construction and production of construction materials; creation of joint ventures with foreign companies. For each of the organizational measures, a list of probable risks and threats is identified, as well as the tools for their management are substantiated.

Published
2020-11-23